Streetbeat News

Acquisitions Mergers

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

BEEZ

MAS

Masco Corporation (NYSE:MAS) is selling its Kichler Lighting business to Kingswood Capital Management for $125 million. This strategic move aims to streamline Masco's focus. The transaction is expected to close by year-end, pending customary conditions and approvals. Masco's shares are trading lower following the announcement.

Portfolio Pulse from Lekha Gupta

September 03, 2024 | 5:18 pm

INTC

MSFT

TSM

TXN

VGT

XLK

Intel's position in the Dow Jones Industrial Average is under threat due to its underperformance in the AI sector and potential restructuring plans. Analysts suggest Nvidia or Texas Instruments could replace Intel in the Dow.

Portfolio Pulse from Anusuya Lahiri

September 03, 2024 | 4:26 pm

UAA

Outside has acquired MapMyFitness apps from Under Armour, marking a significant move for Outside's CEO Robin Thurston, who originally founded MapMyFitness. This acquisition will enhance Outside's digital platform, increasing its paid subscribers and expanding its user base significantly.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 4:11 pm

GEV

GE Vernova shares are experiencing a decline after reports emerged that the company acquired the remaining stake in a Saudi joint venture from Dussur.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 4:01 pm