Streetbeat News

Acquisitions Mergers

AMD

AMD has appointed Keith Strier, a veteran in AI industry, as senior vice president of global AI markets. Strier, who previously worked at NVIDIA, will focus on expanding AMD's AI capabilities and engagements globally.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 8:21 pm

CRM

Salesforce has signed a definitive agreement to acquire Tenyx, a company specializing in AI-powered voice agents. The financial terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 8:20 pm

ESI

Element Solutions has agreed to sell its MacDermid Graphics Solutions business to XSYS for approximately $325 million. The proceeds will be used to reduce leverage and for general corporate purposes. The deal is expected to close by late 2024 or early 2025.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 8:17 pm

DXR

Daxor Corporation reports significant financial growth in the first half of 2024, with a more than 100% increase in revenue compared to 2023. The company secured new government contracts and made strategic acquisitions to enhance its product offerings. Daxor aims for operational positive cash flow by Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 8:13 pm

CNFR

Conifer Holdings (CNFR) shares surged by 71.7% after announcing the sale of its insurance agency operations for $45 million and appointing Brian Roney as CEO. The company also sold its stake in Sycamore Specialty Underwriters for $6.5 million. These moves mark Conifer's exit from the insurance agency business, leading to an anticipated revenue decline.

Portfolio Pulse from Henry Khederian

September 03, 2024 | 7:41 pm

CNFR

DYN

IOBT

RXRX

SGRP

SIFY

U.S. stocks fell with the S&P 500 down 2%. SPAR Group shares surged 65% after announcing an acquisition agreement. Sify Technologies shares rose 112% due to a new certification. Conifer Holdings shares increased 83% after selling its insurance agency operations. IO Biotech, Dyne Therapeutics, and Recursion Pharmaceuticals saw significant stock declines.

Portfolio Pulse from Avi Kapoor

September 03, 2024 | 6:59 pm

BABA

GVIP

QTUM

Alibaba's subsidiary AGTech Holdings has acquired a 51.5% stake in Ant Group's Bank Macao for $30.26 million, aiming to enhance digital payment services. Alibaba's stock has been affected by regulatory issues, but analysts see potential upside.

Portfolio Pulse from Anusuya Lahiri

September 03, 2024 | 6:48 pm

BYDDY

TSLA

BYD Co., Ltd. is delaying its investment in a Mexican car production facility until after the U.S. elections, due to uncertainties in American policies. The decision reflects a cautious approach amid potential changes in U.S. trade policies, especially concerning tariffs on Mexican-made products.

Portfolio Pulse from Nabaparna Bhattacharya

September 03, 2024 | 6:09 pm

RXRX

SGRP

SIFY

Recursion Pharmaceuticals shares fell 11.6% after announcing Phase 2 data for a treatment for Cerebral Cavernous Malformation. Nikola shares also dipped 10.4%. Meanwhile, Sify Technologies surged 103% after achieving a significant certification, and SPAR Group rose 65% following an acquisition agreement.

Portfolio Pulse from Avi Kapoor

September 03, 2024 | 5:41 pm

ACI

The FTC is challenging the proposed $25 billion merger between Kroger and Albertsons, citing concerns over potential price increases for groceries. The FTC is also questioning the viability of C&S Wholesale Grocers' plan to acquire and manage over 500 stores from the merger. The trial is ongoing, with implications for grocery prices and market competition.

Portfolio Pulse from Michael Juliano

September 03, 2024 | 5:29 pm