Streetbeat News

Acquisitions Mergers

HLN

K

As of August 9, 2024, two consumer staples stocks, Haleon PLC (HLN) and Kellanova (K), are showing signs of being overbought based on their RSI values. Haleon posted weak H1 sales results but saw a 12% gain over the past month, while Kellanova is reportedly a potential acquisition target for Mars Inc., with a 32% gain over the past month.

Portfolio Pulse from Avi Kapoor

August 09, 2024 | 9:40 am

AVD

DOCS

ITI

Doximity, Inc. (NYSE:DOCS) shares surged over 28% in pre-market trading after reporting better-than-expected Q1 financial results and issuing strong FY24 revenue guidance. Other notable pre-market movers include Iteris, Inc. (NASDAQ:ITI) up 61.7% due to an acquisition, and American Vanguard Corporation (NYSE:AVD) down 30.8% after disappointing Q2 results.

Portfolio Pulse from Avi Kapoor

August 09, 2024 | 9:04 am

ESGR

Enstar Group Limited (ESGR) will assume $376 million in loss reserves from QBE in a strategic loss portfolio transfer deal. The transaction is expected to complete in the fourth quarter of 2024, pending regulatory approvals and other conditions.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 7:06 am

PLMR

Palomar Holdings, Inc. (PLMR) has priced a $25 million public offering of 1.2 million common shares at $88 per share. The proceeds will be used for general corporate purposes, including the acquisition of First Indemnity of America Insurance Company and to fund future growth.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 6:52 am

ITI

Iteris, Inc. (NASDAQ:ITI) will be acquired by Almaviva S.p.A. for $335 million. Iteris shareholders will receive $7.20 per share in cash, representing a 68% premium.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 6:18 am

PLTR

SOUN

TSLA

TTD

U

On Thursday, major U.S. indices closed higher, with the Dow Jones Industrial Average rising nearly 1.8%, the S&P 500 surging 2.3%, and the Nasdaq climbing almost 2.9%. Key stocks that gained attention include Palantir Technologies, SoundHound AI, Unity Software, The Trade Desk, and Tesla. Palantir surged 11.25% due to a partnership with Microsoft. SoundHound AI rose 21.16% after acquiring Amelia and beating revenue estimates. Unity Software increased by 3.09% after beating financial estimates. The Trade Desk climbed 3.96% with strong financial results and high customer retention. Tesla rose 3.69% despite a survey showing declining appeal among younger generations.

Portfolio Pulse from Benzinga Neuro

August 09, 2024 | 3:28 am

PLNH

Planet 13 Holdings Inc. reported a 20.3% year-over-year revenue growth in Q2 2024, reaching $31.1 million. Despite the revenue increase, the company experienced a net loss of $8.1 million, up nearly 75% YoY. The growth was driven by the acquisition and consolidation of Florida operations, which also led to increased expenses.

Portfolio Pulse from Rolando García

August 09, 2024 | 2:22 am

ATRI

Atrion Corporation reported Q2 EPS of $0.23, a significant decrease from $3.73 in the prior year. Revenues increased to $48.8 million from $43.8 million last year. Operating income was notably affected by a $5.0 million accrual in acquisition-related expenses.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 10:13 pm

PLMR

Palomar Holdings, Inc. (NASDAQ:PLMR) announced a $25 million public offering of 1.2 million shares of common stock. The proceeds will be used for general corporate purposes, including the acquisition of First Indemnity of America Insurance Company and funding future growth.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 9:59 pm

VOXX

VOXX International Corporation (NASDAQ:VOXX) has announced the sale of certain assets of its Domestic Accessories Group to Established, Inc. for approximately $25 million. The transaction includes the RCA trademarks and other intellectual property. VOXX Accessories Corp. will continue to operate to ensure business continuity.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 9:50 pm