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Acquisitions Mergers

MSFT

Microsoft CEO Satya Nadella announced that the company's gaming platforms have reached 500 million monthly active users. The company previewed 30 new titles, including Call of Duty: Black Ops 6, and reported a 44% rise in gaming revenue, largely due to the Activision acquisition. Xbox content and services revenue increased by 61%. Microsoft anticipates gaming revenue growth in the mid-30s for the first quarter, despite a projected decline in hardware revenue. The company's fourth-quarter revenue was $64.7 billion, exceeding expectations.

Portfolio Pulse from Ananya Gairola

July 31, 2024 | 4:56 am

MSFT

Microsoft projects Q1 expenses of $15.2B-$15.3B, including ~$200M in purchase account adjustments and costs related to the Activision acquisition. Other income and expenses are estimated at $(650M) with an effective tax rate of ~19%.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 11:55 pm

MSFT

Microsoft projects Q1 revenue for its Productivity and Business Process segment to be between $20.3B-$20.6B, Intelligent Cloud revenue between $28.6B-$28.9B, and More Personal Computing revenue between $14.9B-$15.3B. The company also expects COGS of $19.95B-$20.15B, including $700M in purchase accounting adjustments and costs related to the Activision acquisition.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 11:54 pm

TRVG

Trivago has announced a strategic investment in Holisto, an AI-driven travel tech platform that serves as a hotel rate aggregator and white-label booking engine provider. Holisto, founded in 2015, will continue to operate independently under its current leadership.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 9:43 pm

CYH

Community Health Systems, Inc. (NYSE:CYH) has entered into a definitive agreement to sell three Pennsylvania hospitals to WoodBridge Healthcare Inc. for $120 million. The transaction is expected to close in the fourth quarter of this year, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 9:01 pm

GIB

CGI Federal is set to acquire Aeyon to enhance its digital transformation and AI capabilities for the U.S. federal government. This acquisition is expected to strengthen CGI's relationships with national security clients. The transaction is anticipated to close in Q4 FY 2024, with terms not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 9:00 pm

DM

NNDM

Desktop Metal is removing its financial guidance for the remainder of the year due to its pending acquisition by Nano Dimension.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:56 pm

HLI

Houlihan Lokey is optimistic about FY25 due to improvements in M&A and capital markets activity, despite macroeconomic uncertainties.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:41 pm

PSN

Parsons Corporation (NYSE:PSN) is set to acquire BlackSignal Technologies for $200 million. The acquisition, expected to close in August 2024, will enhance Parsons' capabilities in digital signal processing, electronic warfare, and cybersecurity, and is anticipated to be accretive to revenue growth, adjusted EBITDA margins, and adjusted EPS.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:28 pm

AWK

California American Water has acquired the assets of Yerba Buena Water Company. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:14 pm