Streetbeat News

Acquisitions Mergers

VYX

Veritas affiliate is set to acquire NCR Voyix's cloud-based digital banking business for $2.45 billion in cash, with an additional contingent consideration of up to $100 million. NCR Voyix plans to use the proceeds to de-lever its balance sheet and invest strategically in its core businesses.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:51 am

HACK

SHLD

General Dynamics Corporation (NYSE:GD) received a $1.3 billion contract modification from the U.S. Department of Defense for Virginia Class Block VI submarines. The contract will enable the acquisition of long lead-time materials, boosting production capacity. Kevin Graney, president of General Dynamics Electric Boat, will retire at the end of the year, succeeded by Mark Rayha. General Dynamics reported a second-quarter revenue increase of 18% Y/Y to $11.976 billion, but EPS missed consensus. Investors can gain exposure via Global X Defense Tech ETF (NYSE:SHLD) and Amplify Cybersecurity ETF (NYSE:HACK).

Portfolio Pulse from Lekha Gupta

August 06, 2024 | 9:27 am

LCID

Lucid Group (NASDAQ:LCID) announced a $1.5 billion investment from an affiliate of Saudi Arabia’s Public Investment Fund (PIF). The investment includes $750 million in convertible preferred stock and a $750 million unsecured delayed draw term loan facility. This capital will support the production of Lucid's new Gravity SUV, expected to start in late 2024. Despite the investment, Lucid shares fell 3.9% due to wider-than-expected Q2 losses but rose 5.67% in after-market trading.

Portfolio Pulse from Anan Ashraf

August 06, 2024 | 6:42 am

AMD

AMZN

COIN

HOOD

META

PLTR

TSLA

Ark Invest, led by Cathie Wood, made significant trades in several major companies amid a market downturn on Monday. Key purchases included shares of Tesla, Amazon, Coinbase, Robinhood, Meta Platforms, AMD, and Palantir. The firm also sold shares of Block, SoFi Technologies, UiPath, Ginkgo Bioworks, and Verve Therapeutics.

Portfolio Pulse from Benzinga Neuro

August 06, 2024 | 3:21 am

SPR

Spirit AeroSystems Holdings has announced that it will no longer provide financial guidance due to its previously announced merger agreement with Boeing.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:20 pm

MSFT

Blizzard Entertainment, a subsidiary of Microsoft Corp. (NASDAQ:MSFT), is launching a new AA studio focused on mid-level games and mobile integration. The studio will leverage former employees from King, another subsidiary of Activision Blizzard, to develop games centered around Blizzard’s established franchises like World of Warcraft, Overwatch, and StarCraft. This move aligns with Microsoft's broader strategy to explore cost-effective approaches and drive innovation within its gaming divisions.

Portfolio Pulse from Franca Quarneti

August 05, 2024 | 7:00 pm

ATNM

CCM

SHC

TENK

VBIV

U.S. stocks traded lower with the S&P 500 down over 100 points. Actinium Pharmaceuticals shares plunged 64% after the FDA deemed its Phase 3 SIERRA trial inadequate for a BLA filing. Kellanova shares surged 15% on acquisition rumors by Mars. Sotera Health Company shares rose 8% on strong quarterly results. TenX Keane Acquisition shares jumped 129% after shareholder approval of a combination with Citius Pharma’s oncology subsidiary. VBI Vaccines shares fell 29% due to delisting notice from Nasdaq. Concord Medical Services shares dropped 18%.

Portfolio Pulse from Avi Kapoor

August 05, 2024 | 6:39 pm

Kellanova (NYSE:K) shares are trading higher on Monday following a report that Mars is considering acquiring the company. The potential acquisition, if it occurs, would be Mars' largest ever. Kellanova's stock price has risen by 14.3% to $72.

Portfolio Pulse from Dylan Berman

August 05, 2024 | 5:29 pm

EDU

GOTU

ISPR

SAH

SHC

TWST

ZTO

Sotera Health (NASDAQ:SHC) reported better-than-expected quarterly results, leading to a 10.2% rise in its stock price. Other notable gainers include Kellanova (NYSE:K), Ispire Technology (NASDAQ:ISPR), New Oriental Education (NYSE:EDU), Sonic Automotive (NYSE:SAH), ZTO Express (NYSE:ZTO), Gaotu Techedu (NASDAQ:GOTU), and Twist Bioscience (NASDAQ:TWST).

Portfolio Pulse from Avi Kapoor

August 05, 2024 | 3:22 pm

ALTM

Arcadium Lithium Plc (NYSE:ALTM) shares are trading lower after the company announced the acquisition of Li-Metal Corp's lithium metal business for $11 million in cash. The acquisition includes intellectual property and physical assets related to lithium metal production, and a consulting agreement with Li-Metal’s co-founder to facilitate technology transfer.

Portfolio Pulse from Adam Eckert

August 05, 2024 | 3:22 pm