Streetbeat News

Acquisitions Mergers

AUGX

SIGI

SPWR

Selective Insurance Group (NASDAQ:SIGI) shares fell 14.8% after reporting weak quarterly results, missing both earnings and sales estimates. Other notable stock movements include Augmedix (NASDAQ:AUGX) surging 148.8% on acquisition news, and SunPower Corporation (NASDAQ:SPWR) dropping 45.8% following an operational pause and analyst downgrade.

Portfolio Pulse from Avi Kapoor

July 19, 2024 | 5:24 pm

UL

Unilever is reportedly initiating talks to sell its £15 billion ice cream business, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 4:34 pm

BX

Blackstone shares are trading higher following a report suggesting the company is considering a sale of its minority stake in HH Global. Additionally, Piper Sandler maintained an Overweight rating on the stock and raised its price target from $134 to $149.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 4:05 pm

AUGX

HE

HYZN

KITT

SILO

SLB

SXTP

U.S. stocks traded lower with the Dow Jones falling over 300 points. Schlumberger (SLB) reported better-than-expected Q2 results. Augmedix (AUGX) shares surged on acquisition news, while Hyzon Motors (HYZN) shares plummeted after a direct offering. Commodities like gold and silver also saw declines.

Portfolio Pulse from Avi Kapoor

July 19, 2024 | 4:02 pm

AUGX

Augmedix Inc. (NASDAQ:AUGX) will be acquired by Commure, Inc. in an all-cash transaction valued at approximately $139 million. Augmedix stockholders will receive $2.35 per share, a 169% premium over the 30-day VWAP. The deal is expected to close in late Q3 or early Q4 2024.

Portfolio Pulse from Vandana Singh

July 19, 2024 | 3:31 pm

BX

Blackstone is considering selling its stake in HH Global, which could value the company at £2 billion to £2.5 billion, according to Bloomberg News.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 3:25 pm

ABL

Abacus Life shares are trading higher after the company reported preliminary Q2 revenue results above estimates and announced a definitive agreement to acquire Carlisle Management Company.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 2:46 pm

MMLP

Nut Tree Capital Management LP and Caspian Capital LP have reiterated their offer to acquire Martin Midstream Partners L.P. (NASDAQ:MMLP) common units for $4.00 per unit, representing a 31% premium over an alternate offer by Martin Resource Management Corp. They call for any transaction with MRMC to be subject to approval by a majority of unaffiliated common unit holders.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 2:36 pm

BTTC

Bitech Technologies CEO Benjamin Tran discusses the company's focus on renewable energy solutions, particularly battery energy storage systems (BESS), and plans to uplist on NASDAQ. The company aims to address energy infrastructure issues and extreme weather events with innovative technologies like nanogrids and virtual power plants. Bitech is also exploring AI-driven energy management systems and has a clean balance sheet with no debt. The company has 23 projects in the pipeline and plans to generate revenue by mid-summer next year.

Portfolio Pulse from Stjepan Kalinic

July 19, 2024 | 2:29 pm

INST

KKR

KKR is reportedly discussing an offer of approximately $24 per share for Instructure, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 2:11 pm