Streetbeat News

Acquisitions Mergers

AUB

Atlantic Union is experiencing a decline in share price following the announcement of a $350 million public offering and a $1.6 billion merger agreement to acquire Sandy Spring Bancorp.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 7:50 pm

TFC

Truist Bank has agreed to pay $9.13 million to settle allegations related to SunTrust Bank's trust account administration issues from 2011 to 2015. This settlement resolves claims under the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) following SunTrust's acquisition by BB&T and subsequent rebranding as Truist.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 7:05 pm

GRDN

Truist Securities has initiated coverage on Guardian Pharmacy Services, Inc (NYSE:GRDN) with a Buy rating and a price target of $22. The company, which recently went public, operates long-term care pharmacies and is well-positioned in a fragmented market with strong industry trends. Guardian's strategic focus on assisted living and behavioral health facilities, along with its financial flexibility, supports its growth potential.

Portfolio Pulse from Vandana Singh

October 21, 2024 | 6:54 pm

ROAD

SAVE

SEZL

SYTA

VVI

U.S. stocks traded lower with the S&P 500 down 0.4%. Spirit Airlines extended its card processing agreement deadlines. Viad Corp shares rose 17% after selling its GES business. Construction Partners surged 11% on strong revenue guidance and acquisition news. Siyata Mobile shares jumped 75% on new product availability. Sezzle shares fell 14% ahead of earnings release.

Portfolio Pulse from Avi Kapoor

October 21, 2024 | 6:50 pm

AMPS

BHC

BLCO

BTBT

LBPH

MSGM

USAP

Altus Power and Motorsport Games are exploring strategic options to boost shareholder value, while True Value has declared bankruptcy. M&A activity in the U.S. and Canada is lagging compared to 2023, but the aggregate value of deals has increased.

Portfolio Pulse from Anthony Noto

October 21, 2024 | 6:46 pm

HLN

JNJ

KVUE

Kenvue Inc. (NYSE:KVUE) shares rose on Monday after reports that activist investor Starboard Value acquired a significant stake in the company, aiming to boost its stock price. Starboard may push for the sale of Kenvue's skin, healthcare, and beauty division. Kenvue's stock has underperformed compared to competitors like Haleon and Proctor & Gamble.

Portfolio Pulse from Dylan Berman

October 21, 2024 | 5:54 pm

BHC

BLCO

Banks and private credit firms are competing to provide $5 billion in debt financing for a potential buyout of Bausch + Lomb.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 5:39 pm

NEM

Recent options activity for Newmont (NYSE:NEM) shows a bullish trend, with 55% of trades being bullish. The stock is currently priced at $57.82, with analysts maintaining a Buy rating and a target price of around $65. Newmont's recent acquisition of Newcrest and its plans to sell higher-cost mines are key strategic moves.

Portfolio Pulse from Benzinga Insights

October 21, 2024 | 5:15 pm

TPR

Nine financial analysts have recently evaluated Tapestry (NYSE:TPR), with ratings ranging from bullish to bearish. The average 12-month price target is $49.89, slightly down from the previous $50.78. Analysts have adjusted their ratings and price targets, reflecting dynamic market conditions. Tapestry's financials show strong net margins and ROE, despite a slight revenue decline. The company is acquiring Capri, which could impact future performance.

Portfolio Pulse from Benzinga Insights

October 21, 2024 | 5:00 pm

HYPMY

EMS has proposed a merger with Hypera, which would create Brazil's largest pharmaceutical company with a 17% market share. This merger could significantly impact the pharmaceutical landscape in Brazil.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 4:43 pm