Streetbeat News

Acquisitions Mergers

WH

Wyndham Hotels & Resorts shares are trading higher following a report suggesting Choice Hotels is seeking to buy the company.

Portfolio Pulse from Bill Haddad

May 23, 2023 | 6:25 pm

CHH

WH

Choice Hotels is reportedly seeking to acquire Wyndham Hotels & Resorts, according to sources cited by the Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 6:00 pm

CWBR

CohBar shares surged 161% after announcing an all-stock transaction with Morphogenesis to form a company focused on late-stage oncology pipeline. Other stocks with significant movement include HeartCore Enterprises, Ocean Biomedical, and Shuttle Pharmaceuticals.

Portfolio Pulse from Lisa Levin

May 23, 2023 | 5:47 pm

CWBR

CohBar Inc (NASDAQ:CWBR) has agreed to merge with privately-held Morphogenesis Inc in an all-stock transaction to form a company focusing on late-stage oncology pipeline. The combined company, TuHURA Biosciences Inc, is expected to trade on The Nasdaq Capital Market and close the transaction in Q3 2023.

Portfolio Pulse from Vandana Singh

May 23, 2023 | 4:52 pm

AIG

American International Group (AIG) is selling its subsidiary Validus Re to RenaissanceRe for $2.985 billion, causing AIG shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 3:12 pm

META

MSFT

SSTK

Shutterstock is set to acquire GIPHY from Meta Platforms for $53 million, expanding its API ecosystem and gaining major global partners such as Microsoft, Instagram, Facebook, and more. Meta has secured an API deal with Shutterstock for continued access to GIPHY's content.

Portfolio Pulse from Lekha Gupta

May 23, 2023 | 2:16 pm

MU

PERI

YELP

TCS Capital Management has built a stake in Yelp and urged the company to explore strategic alternatives, including a sale. Micron Technology projects the recent China ban on memory chip sales to curb revenues. Spruce Point Capital raises concerns about Perion Network's financial practices.

Portfolio Pulse from Vandana Singh

May 23, 2023 | 1:49 pm

GRNF

GRN Holding Corporation (OTCPK:GRNF) has completed its merger with Marijuana Inc., consolidating their resources and expertise. The merged entity aims to expand market reach and drive sustainable growth in the cannabis industry.

Portfolio Pulse from Vuk Zdinjak

May 23, 2023 | 1:31 pm

SDRL

Seadrill Limited reported Q1 2023 operating revenue of $266 million, a 17% increase Q/Q, with a technical utilization of 96%. The company added $39 million of order backlog during the quarter, totaling $2.2 billion. Seadrill completed the acquisition of Aquadrill last month, adding $470 million in order backlog.

Portfolio Pulse from Lekha Gupta

May 23, 2023 | 12:53 pm

IMACW

THER

Theralink has signed a definitive merger agreement to be acquired by IMAC Holdings, although the terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2023 | 12:32 pm