Streetbeat News

Acquisitions Mergers

YEXT

Yext shares are trading lower following the release of disappointing Q1 financial results, weak Q2 guidance, and the announcement of its acquisition of Hearsay Systems.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 8:23 pm

SITE

SiteOne Landscape Supply has acquired Cohen & Cohen Natural Stone, expanding its hardscapes product distribution in Ottawa, Ontario.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 8:21 pm

YEXT

Yext has announced its acquisition of Hearsay Systems for $125 million, with an additional $95 million contingent on performance targets.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 8:13 pm

MOBX

Mobix Labs Inc. (NASDAQ:MOBX) projects a revenue increase of over 70% sequentially to more than $2 million, driven by the successful acquisition of RaGE Systems. The company anticipates further growth through strategic acquisitions and robust product sales.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 8:08 pm

APO

DXC

KD

Apollo Global Management and Kyndryl Holdings are reportedly making a joint bid to acquire DXC Technology, according to sources. This potential acquisition could significantly impact the involved companies.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 7:58 pm

BRK

BX

EWJ

KKR

Blackstone Inc. (NYSE:BX) plans to invest $9.6 billion in Japan by 2027, citing accelerated growth in the Japanese economy. Other investment managers like Bain Capital, KKR & Co Inc (NYSE:KKR), and Berkshire Hathaway Inc (NYSE:BRK) are also focusing on Japan. The iShares MSCI Japan ETF (NYSE:EWJ) has seen a 9% rise in 2024.

Portfolio Pulse from Hayden Buckfire

June 10, 2024 | 7:28 pm

BLOK

EDUT

IYW

PWSC

Bain Capital's $5.6 billion acquisition of PowerSchool Holdings (NYSE:PWSC) is under investigation for potential conflicts of interest and concerns over the deal price. Shareholder rights law firm Julie & Holleman is probing the transaction, citing issues with private equity firms Vista Equity Partners and Onex. The deal is expected to close in the second half of the year.

Portfolio Pulse from Michael Juliano

June 10, 2024 | 7:06 pm

PAG

Premier Truck Group, a subsidiary of Penske Automotive Group (NYSE:PAG), has acquired River States Truck and Trailer, Inc. The acquisition is expected to add $200 million in estimated annualized revenue and expand operations in Wisconsin and Minnesota.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 6:57 pm

VSTO

A wealthy Trump donor is backing a $2 billion takeover offer for Vista Outdoor's ammunition unit.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 6:55 pm

DO

DSY

ENSV

ICCH

KWE

NE

PERI

SIFY

Crude oil prices rose sharply, and ICC Holdings shares spiked higher. The Dow and S&P 500 saw slight gains, while the Nasdaq Composite edged lower. Notable stock movements included Diamond Offshore Drilling's acquisition by Noble Corporation, Big Tree Cloud Holdings' significant rise, and ICC Holdings' surge following an acquisition announcement. Perion Network and Sify Technologies saw substantial declines.

Portfolio Pulse from Avi Kapoor

June 10, 2024 | 6:37 pm