Streetbeat News

Acquisitions Mergers

FXNC

TSBA

First National Corporation (NASDAQ: FXNC) and Touchstone Bankshares (OTCPK: TSBA) have received regulatory approvals for their merger, expected to close in Q4 2024. The combined entity will have approximately $2.1 billion in assets, $1.8 billion in deposits, and $1.5 billion in loans.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:36 pm

BHC

Bausch Health's plan to spin off its eye-care subsidiary, Bausch + Lomb, is facing a standoff between major shareholders and creditors. Shareholders like Carl Icahn and Paulson & Co. are against a bankruptcy filing, while creditors, including Elliott and Apollo, support it to restructure over $22 billion in debt.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 4:06 pm

BMBL

CDLX

GVP

LLY

VSAT

XPEL

U.S. stocks surged with the Dow Jones gaining over 500 points. Eli Lilly reported strong Q2 earnings and raised its full-year guidance. XPEL, Viasat, and GSE Systems saw significant stock price increases due to positive earnings and acquisition news, while Cardlytics, Outset Medical, and Bumble experienced sharp declines following disappointing earnings.

Portfolio Pulse from Avi Kapoor

August 08, 2024 | 4:06 pm

ZIP

ZipRecruiter shares are trading higher following the release of better-than-expected Q2 financial results and the announcement of the acquisition of Breakroom.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 3:27 pm

GMAB

Genmab A/S (NASDAQ:GMAB) has updated its 2024 financial guidance, increasing its revenue forecast from DKK 18.7-20.5 billion to DKK 20.5-21.7 billion. This revision is driven by higher royalties, reimbursement revenue, and strong sales of DARZALEX and Kesimpta. The update follows Genmab's acquisition of ProfoundBio, Inc., and includes incremental R&D investments and acquisition-related charges.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 3:04 pm

HOOD

Robinhood Markets (NASDAQ:HOOD) is experiencing strong deposit growth and new product launches, leading to positive analyst reviews. Piper Sandler, Needham, and JMP Securities analysts have highlighted the company's strong Q2 earnings, revenue growth, and profitability. Despite some concerns about cryptocurrency trading volumes, analysts are optimistic about Robinhood's future growth and potential acquisitions.

Portfolio Pulse from Chris Katje

August 08, 2024 | 2:58 pm

CTLT

LLY

NVO

Eli Lilly's Concord manufacturing site is on track to start production by the end of 2024. The company recently launched Mounjaro in Spain with the KwikPen presentation. There are concerns about Novo Nordisk's acquisition of Catalent.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 2:52 pm

USFD

US Foods Holding Corp. (NYSE:USFD) reported strong Q2 results, with sales and earnings in line or exceeding expectations. The company also reiterated its FY24 outlook and completed an acquisition.

Portfolio Pulse from Nabaparna Bhattacharya

August 08, 2024 | 2:38 pm

ACB

FLGC

TLRY

Flora Growth Corp. (NASDAQ:FLGC) has listed its shares on the Frankfurt Stock Exchange to attract European investors and increase trading liquidity. This move follows Flora's acquisition of Australian Vaporizers Pty Ltd. Additionally, Tilray Brands (NASDAQ:TLRY) and Aurora Cannabis (NASDAQ:ACB) have received cannabis cultivation licenses in Germany under the new Cannabis Act. Flora Growth shares closed 7.68% lower at $0.8983 per share.

Portfolio Pulse from Nina Zdinjak

August 08, 2024 | 2:23 pm

NRG

Gamut Capital Management has signed a definitive agreement to acquire Airtron Heating & Air Conditioning from NRG Energy. Financial terms were not disclosed. Airtron is a major HVAC system provider in the US, covering 13 metropolitan areas.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 2:12 pm