Streetbeat News

Acquisitions Mergers

TBNK

Territorial Bancorp has reaffirmed its commitment to a proposed merger with Hope Bancorp, despite a proposal from Blue Hill Advisors to acquire Territorial Bancorp.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 8:38 pm

ALCE

Alternus Clean Energy has terminated its agreement with C2 Taiyo Fund I, LLP to acquire 80MWp solar installations across 8 U.S. states due to the seller's failure to meet closing conditions and changes in the asset portfolio.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 8:21 pm

MEIP

MEI Pharma (NASDAQ:MEIP) reported $38.3M in cash and no debt as of June 30, 2024. The company is evaluating strategic alternatives, including potential mergers or out-licensing, with Oppenheimer & Co. as its financial adviser. A reduction-in-force has begun to preserve cash.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 8:10 pm

KEYS

SNPS

Synopsys is selling its Optical Solutions Group to Keysight Technologies. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 8:08 pm

DRI

EWTX

HAO

MBLY

PGNY

SGN

VVOS

U.S. stocks rose with the S&P 500, Dow, and NASDAQ all gaining. Darden Restaurants missed earnings estimates, while Mobileye Global shares surged after Intel decided not to divest its interest. Edgewise Therapeutics and Signing Day Sports saw significant stock price increases.

Portfolio Pulse from Avi Kapoor

September 19, 2024 | 6:57 pm

RCI

Rogers Communications Inc. (NYSE:RCI) is acquiring a 37.5% stake in Maple Leaf Sports & Entertainment from Bell for $3.46 billion, increasing its ownership to 75%. This move enhances Rogers' sports portfolio, pending regulatory approvals. RCI shares rose 0.50% following the announcement.

Portfolio Pulse from Lekha Gupta

September 19, 2024 | 6:40 pm

DIS

PENN

WYNN

PENN Entertainment is seeking approval from the New York State Gaming Commission to acquire Wynn Bet's NY sports betting rights. If approved, this would allow ESPN BET to enter the New York market.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 5:22 pm

NVDA

T

TMUS

VZ

T-Mobile US Inc (NASDAQ:TMUS) announced a three-year AI-focused plan, which has led to positive analyst reactions and increased price targets. The plan includes growth in wireless subscriber loading, service revenue, and free cash flow, with a focus on customer experience. Analysts expect sizable capital returns to shareholders and have raised price targets, reflecting confidence in T-Mobile's growth trajectory.

Portfolio Pulse from Priya Nigam

September 19, 2024 | 5:20 pm

ACHL

Achilles Therapeutics shares surged after announcing a strategic shift to discontinue its TIL-based cNeT program and explore collaborations for cancer treatment. The company is considering partnerships and potential mergers or acquisitions, with BofA Securities as a financial advisor. Cost-cutting measures, including workforce reduction, are also being implemented.

Portfolio Pulse from Vaishali Prayag

September 19, 2024 | 4:07 pm

VST

Vistra Corp. (NYSE:VST) shares are experiencing volatility following the announcement of agreements to acquire a 15% equity interest in Vistra Vision from Nuveen Asset Management and Avenue Capital Management II. This move consolidates Vistra's position in the clean energy sector.

Portfolio Pulse from Vaishali Prayag

September 19, 2024 | 3:55 pm