Streetbeat News

Acquisitions Mergers

MCRB

Seres Therapeutics shares are experiencing volatility after the company entered a memorandum of understanding with Nestlé Health Science for the sale of its VOWST assets. The stock initially traded higher but has since reversed.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 4:52 pm

NVT

NVent Electric shares are trading lower after the company announced it will acquire Trachte for $695 million.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 4:13 pm

VNDA

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) received a $466 million acquisition offer from Cycle Pharmaceuticals Ltd, valuing VNDA at $8 per share. Vanda's board will review the offer. Previously, Vanda rejected a lower offer from Future Pak LLC. VNDA shares rose 24.3% to $6.28 following the news.

Portfolio Pulse from Vandana Singh

June 06, 2024 | 4:13 pm

HOOD

Robinhood Inc. (NASDAQ:HOOD) has acquired Bitstamp, a major crypto exchange, to accelerate its vision of reorganizing the financial system through cryptocurrencies. The acquisition has been praised by industry experts as a bold and significant move, despite Robinhood recently receiving a wells notice from the SEC. The deal is expected to have long-term implications for the fintech sector and the broader crypto market.

Portfolio Pulse from Murtuza Merchant

June 06, 2024 | 4:11 pm

DLB

GE

Dolby Laboratories (NYSE:DLB) announced a $429 million all-cash acquisition of GE Licensing from GE Aerospace (NYSE:GE). The deal, expected to close by the end of fiscal year 2024, will add over 5,000 patents to Dolby's portfolio, particularly in video compression technology. The acquisition is anticipated to be accretive to Dolby's operating margins and EPS on a non-GAAP basis in fiscal 2025. GE Aerospace will retain its core aerospace and defense IP portfolio.

Portfolio Pulse from Shivani Kumaresan

June 06, 2024 | 4:06 pm

CRM

ValueAct has increased its stake in Salesforce to nearly $1 billion, which has sent Salesforce shares up by around 3.5%. This move comes shortly after Salesforce reported its first revenue miss since 2006. Mason Morfit, ValueAct's co-CEO and Salesforce board member, disclosed the trade, signaling confidence in the company despite recent financial setbacks.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 2:55 pm

SAM

Green Thumb Industries (GTI) is reportedly seeking a merger with Boston Beer Company, which could allow GTI to list on a major exchange and enter the Hemp THC beverage market. This move could boost the credibility of the cannabis sector and attract traditional alcohol investors.

Portfolio Pulse from Nicolás Jose Rodriguez

June 06, 2024 | 2:21 pm

DOCU

DocuSign, Inc. (NASDAQ:DOCU) is set to release its first-quarter financial results after the closing bell on Thursday. Analysts expect earnings of 79 cents per share and revenue of $707.46 million. The company recently completed the acquisition of Lexion. Several analysts have revised their ratings and price targets for DOCU.

Portfolio Pulse from Avi Kapoor

June 06, 2024 | 2:14 pm

ACRHF

CGC

Canopy Growth Corporation (NASDAQ:CGC) has announced a $250 million at-the-market equity program to issue and sell common shares. The proceeds will support existing businesses, potential acquisitions, and general corporate purposes. The announcement follows Canopy's move to acquire Acreage Holdings.

Portfolio Pulse from Jelena Martinovic

June 06, 2024 | 1:58 pm

GIX

XYLO

Xylo Technologies will transfer all their shares to Gix in exchange for 30% of the issued and outstanding ordinary shares of Gix. Shareholders will have the option to increase their holdings to 37.5% and 45% upon completion of two separate commercial milestones.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 1:30 pm