Streetbeat News

Acquisitions Mergers

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

ABVE

Above Food Ingredients shares are trading higher following the company's announcement of acquiring Specialty Crop Food for $34 million.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 12:47 pm

AQN

LS Power has agreed to acquire the renewable energy business of Algonquin Power & Utilities Corp. (NYSE:AQN). The acquisition includes 44 operating assets with over 3,000 MW of generating capacity and an 8,000 MW pipeline of projects in development. No financial terms were disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 12:39 pm

ABVE

Above Food has acquired The Redwood Group's Specialty Crop Food Ingredient Division for $34 million. This acquisition adds a profitable operator with $164 million in revenue for FY 2023, expanding Above Food's U.S. footprint and enhancing its 'Seed-to-Fork' value chain.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 12:31 pm

TIGO

Atlas Luxco has increased its public cash offer for Millicom shares and SDRs to $25.75 per share. However, Millicom's independent committee believes the revised offer significantly undervalues the company and advises shareholders not to tender their shares.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 12:14 pm

AQN

Algonquin Power & Utilities has agreed to sell its renewable energy business (excluding hydro) to an LS Power subsidiary for up to $2.5 billion. The transaction is expected to close in late 2024 or early 2025, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 11:44 am

PARA

PARAA

Paramount Global's shares surged nearly 7% in pre-market trading following the announcement of a $6 billion write-down and a 15% workforce reduction. The company aims to cut costs by $500 million ahead of its merger with Skydance Media. Despite a revenue miss in its second-quarter earnings report, the stock saw significant gains.

Portfolio Pulse from Benzinga Neuro

August 09, 2024 | 10:59 am

BA

LMT

NOC

Anduril Industries, a U.S. defense technology startup, has raised $1.5 billion in funding, led by Peter Thiel's venture capital firm, to accelerate the production of autonomous weapons. The funding round has increased Anduril's valuation to $14 billion. The company plans to use the funds to build new manufacturing facilities, including the first factory, Arsenal-1, in the U.S. Anduril has secured contracts with the U.S. and UK military and recently won a major U.S. Air Force contract over competitors Lockheed Martin, Northrop Grumman, and Boeing.

Portfolio Pulse from Benzinga Neuro

August 09, 2024 | 10:57 am

MRK

Merck has agreed to acquire CN201, an investigational bispecific antibody for B-cell associated diseases, from Curon Biopharmaceutical for $700M upfront and up to $600M in milestone payments. CN201 is in Phase 1 and Phase 1b/2 trials for non-Hodgkin's lymphoma and B-cell acute lymphocytic leukemia, showing promising preliminary data.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 10:48 am

ITI

Iteris, Inc. (NASDAQ:ITI) stock surged premarket Friday after Almaviva S.p.A. agreed to acquire the company in a $335 million all-cash deal. Iteris shareholders will receive $7.20 per share, a 68% premium over the closing price on August 8, 2024. The transaction, expected to close in 2024, will result in Iteris becoming privately held and delisted from Nasdaq. Iteris also reported better-than-expected Q1 FY25 earnings and reiterated its revenue guidance for FY25.

Portfolio Pulse from Lekha Gupta

August 09, 2024 | 10:40 am