Streetbeat News

Acquisitions Mergers

ANTX

BLND

DOCS

ITI

MMAT

VEV

U.S. stocks traded mixed with the Nasdaq Composite gaining over 50 points. Crude oil prices rose, and the number of active U.S. oil rigs increased by three. Blend Labs, Doximity, and Iteris shares surged following positive financial results and acquisition news, while AN2 Therapeutics, Vicinity Motor, and Meta Materials saw significant declines due to negative developments.

Portfolio Pulse from Avi Kapoor

August 09, 2024 | 6:38 pm

EUTLF

EQT has entered into exclusive negotiations to acquire a majority stake in Eutelsat Group's Ground Station Infrastructure Business, valuing the new entity at an enterprise value of €790 million. The Ground Station Business includes approximately 1,400 antennas across more than 100 locations globally, serving Eutelsat Group, OneWeb, and other third-party customers. EQT plans to support the business through investments and M&A-driven growth.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 4:56 pm

BUJA

Global IBO Group Ltd. and Bukit Jalil Global Acquisition 1 Ltd. have announced a definitive business combination agreement. Upon completion, the combined company will be renamed 'GIBO Holdings Limited' and listed on Nasdaq. The closing is subject to regulatory and shareholder approvals.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 4:32 pm

SOUN

SoundHound AI Inc (NASDAQ:SOUN) reported strong Q2 results with revenue of $13.5 million, slightly above expectations. Despite this, shares fell 4.61% to $4.97. Analysts are focused on the company's acquisition of Amelia, an enterprise AI software company, which is expected to be transformative. Cantor Fitzgerald upgraded SOUN to Overweight with a price target of $7, Wedbush reiterated an Outperform rating with a $9 target, and DA Davidson maintained a Buy rating with a $9.50 target.

Portfolio Pulse from Priya Nigam

August 09, 2024 | 4:10 pm

PBR

Petrobras has received an environmental license to increase oil production at the Buzios field. The company plans to lower its capital expenditures (Capex) in 2024 due to strategic changes in exploration and production (E&P) and delays in refining investments. Petrobras is also analyzing four potential mergers and acquisitions (M&A) in the renewables sector. The interim E&P director mentioned efforts to start the FPSO Almirante Tamandare early at the Buzios field. Despite lower Capex in 2024, the CFO stated that next year's Capex will be higher than this year's.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 3:30 pm

PETQ

SMCI

The article discusses a successful trade on PetIQ, Inc. (NASDAQ: PETQ) that resulted in a 236% gain due to the company being taken private at $31 per share. It also mentions a previous unsuccessful trade on Super Micro Computer, Inc. (NASDAQ: SMCI) and outlines a revised trading approach focusing on broader valuation metrics, technical consolidation, longer trade durations, and post-earnings entries.

Portfolio Pulse from David Pinsen

August 09, 2024 | 3:29 pm

SOUN

SoundHound AI, Inc. (NASDAQ:SOUN) stock is trading lower despite reporting strong Q2 results, raising guidance, and announcing the acquisition of Amelia. The company reported a 54% increase in revenue, beat EPS estimates, and expects significant revenue growth in 2024 and 2025. However, the stock is down 4.5% as of Friday.

Portfolio Pulse from Anusuya Lahiri

August 09, 2024 | 3:22 pm

CAG

Conagra Brands has acquired Sweetwood Smoke & Co., the maker of FATTY Smoked Meat Sticks. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 1:02 pm

ITI

Iteris shares are trading higher following the announcement that the company will be acquired by Almaviva for $335 million.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 12:57 pm

DAT

FIVN

Five9, Inc. (NASDAQ:FIVN) shares are down 15.19% premarket after reporting Q2 2024 results. Revenue beat expectations, but the company reduced its annual revenue guidance by 3.8% due to recent bookings trends and uncertain economic conditions. Five9 also announced the acquisition of Acqueon. Investors can gain exposure via ProShares Big Data Refiners ETF (NYSE:DAT).

Portfolio Pulse from Lekha Gupta

August 09, 2024 | 12:54 pm