Streetbeat News

Acquisitions Mergers

AIHS

CARV

CWD

WDH

Four financial stocks, Carver Bancorp, Inc. (CARV), Waterdrop Inc. (WDH), Senmiao Technology Limited (AIHS), and CaliberCos Inc. (CWD), are considered oversold with their Relative Strength Index (RSI) values below 30. This indicates potential for price recovery in the short term. CARV's stock dropped 34% over the past month, WDH agreed to acquire Cunzhen Qiushi, AIHS reported 0.8 million completed orders for May 2023, and CWD's Q1 revenue increased by 21.5% YoY.

Portfolio Pulse from Lisa Levin

July 03, 2023 | 11:50 am

DWAC

Digital World Acquisition Corp. (NASDAQ:DWAC), the SPAC set to merge with Donald Trump’s Truth Social platform, saw gains in premarket trading on Monday. The uptick comes as rival social media platform Twitter faced backlash for limiting unregistered users’ access to tweets, creating an opportunity for Truth Social to attract disgruntled users. However, Digital World faces regulatory scrutiny and challenges in finalizing its merger with Truth Social, with recent insider trading allegations adding to its troubles.

Portfolio Pulse from Shanthi Rexaline

July 03, 2023 | 11:38 am

TRSSF

TerrAscend Corp. (OTCQX:TRSSF) (CSE:TER) has agreed to acquire Herbiculture Inc., a medical dispensary in Maryland, for $8.25 million. This acquisition will bring TerrAscend's total dispensaries in Maryland to four, the maximum allowed in the state. The company expects the transaction to be immediately accretive to its EBITDA and cash flow. The deal has been approved by the Maryland Cannabis Administration and is expected to close soon.

Portfolio Pulse from Vuk Zdinjak

July 03, 2023 | 11:35 am

GLNCY

PLM

Glencore has made a non-binding offer to acquire PolyMet Mining Corp for $2.11 per share.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 11:19 am

FIS

Private equity firms are reportedly interested in acquiring a majority stake in Fidelity National Information Services' Worldpay unit, leading to a rise in FIS shares.

Portfolio Pulse from Bill Haddad

July 03, 2023 | 11:16 am

JELD

JELD-WEN Holding, Inc. has completed the sale of its Australasia business to Platinum Equity, generating net proceeds of approximately $446 million. The company plans to use the funds to repay debt. The sale allows JELD-WEN to focus on its core regions, North America and Europe. Following the announcement, JELD shares are trading higher by 2.62% to $18 in the premarket session.

Portfolio Pulse from Nabaparna Bhattacharya

July 03, 2023 | 11:05 am

TNXP

Tonix Pharmaceuticals Holding Corp. (TNXP) has completed the acquisition of two FDA-approved, marketed migraine products from Upsher-Smith Laboratories. The products, Zembrace SymTouch and Tosymra, generated sales of approximately $23 million in 2022.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 11:02 am

AJX

EFC

Ellington Financial is set to acquire Great Ajax for $7.33 per share, representing a 19% premium to the Great Ajax common stock closing price on the NYSE on June 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 10:52 am

FARM

THS

Treehouse Foods, Inc. (THS) has completed the acquisition of certain assets from Farmer Brothers Company (FARM) for $100 million. The assets include FARM's Northlake, Texas, coffee facility and non-Direct Store Delivery coffee business. The acquisition is expected to enhance THS's single-serve pod and ready-to-drink coffee businesses and its private-label coffee offerings. THS financed the acquisition through its revolving credit facility and acquired around $30 million of inventory. The company plans to retain around 180 FARM employees at the facility.

Portfolio Pulse from Lekha Gupta

July 03, 2023 | 10:48 am

FIS

Shares of Fidelity National Information Services (FIS) rose by 6% in premarket trading following a report by the Financial Times that private equity firms are looking to acquire a majority stake in Worldpay, a subsidiary of FIS.

Portfolio Pulse from Charles Gross

July 03, 2023 | 10:45 am