Streetbeat News

Acquisitions Mergers

GIB

CGI has acquired Celero's credit union business, expanding its managed services to over 90 credit unions nationwide. The acquisition includes new partnerships and the integration of more than 150 Celero employees into CGI's operations.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:00 pm

M

Arkhouse and Brigade Capital have raised their buyout offer for Macy's to $24.80 per share from the previous $24 per share. This new proposal values Macy's at approximately $6.9 billion.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:00 pm

AMZN

CRM

Saks Fifth Avenue's parent company, HBC, is set to acquire Neiman Marcus for $2.65 billion, with Amazon and Salesforce taking minority stakes. The deal aims to create a luxury retail powerhouse with annual sales of around $10 billion.

Portfolio Pulse from Benzinga Neuro

July 05, 2024 | 2:59 pm

BITO

COIN

Cryptocurrency markets are trading lower with Bitcoin, Ethereum, and Dogecoin all in the red. Bitcoin is struggling to maintain its $60,000 support level. Notable statistics include a drop in Bitcoin's large transaction volume and daily active addresses. Significant liquidations and open interest levels are also observed. CoinDCX has acquired BitOasis, marking its entry into the MENA market. Analysts predict potential further declines if Bitcoin breaks key support levels.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 2:59 pm

BA

SPR

Boeing faces a critical decision to either accept a plea deal from the DOJ over 737 MAX safety violations or risk a trial. The plea deal includes a $243.6 million fine and a three-year independent compliance monitor. Concurrently, Boeing announced a $4.7 billion acquisition of Spirit AeroSystems, which was met with mild investor enthusiasm.

Portfolio Pulse from Natan Ponieman

July 05, 2024 | 2:59 pm

DM

NNDM

Nano Dimension Ltd. (NASDAQ:NNDM) shares surged 16.7% after the company announced preliminary Q2 results showing an 11% revenue increase and a strategic acquisition of Desktop Metal Inc. (NYSE:DM). The acquisition is valued at $5.50 per share, with potential adjustments.

Portfolio Pulse from Vaishali Prayag

July 05, 2024 | 2:59 pm

BA

ITA

PPA

SPR

Goldman Sachs analyst Noah Poponak has given a positive outlook for Boeing (NYSE:BA), expecting improved deliveries and production rates. Boeing is projected to achieve 43 deliveries in June, with a significant portion being newly produced 737 MAX aircraft. The company is focusing on product quality and plans to gradually increase output later in the year. Poponak has set a price target of $243 for Boeing, citing a 5.0% FCF yield on projected 2025 free cash flow per share. Boeing has also entered into an agreement to purchase Spirit AeroSystems Holdings (NYSE:SPR) at a 30% premium. Investors can gain exposure to Boeing through IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Invesco Aerospace & Defense ETF (NYSE:PPA).

Portfolio Pulse from Lekha Gupta

July 03, 2024 | 5:59 pm

CURLF

Curaleaf Holdings (OTC:CURLF) is experiencing significant growth in the European market, particularly in Germany, and is expanding its operations in the U.S. The company has achieved high gross margins through vertical integration and strategic acquisitions. Curaleaf is also entering the hemp derivatives market and plans further expansion in Ohio, Pennsylvania, and Florida.

Portfolio Pulse from Nicolás Jose Rodriguez

July 03, 2024 | 5:04 pm

DM

Desktop Metals shares are trading higher after Nano Dimension announced it will acquire the company.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 5:02 pm

BTCT

BTC Digital Ltd. has announced the acquisition of an Arkansas-based Bitcoin mining facility for $1.99 million. This strategic move aims to reduce operational costs, ensure a stable energy supply, and offer leading mining machine hosting services, enhancing BTC Digital's competitiveness in the cryptocurrency mining industry.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 5:02 pm