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Acquisitions Mergers

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HAYN

MTUS

AngloGold Ashanti reports a 2% increase in Q1 2024 gold production, maintaining full-year guidance despite challenges. Golden Minerals sells Velardeña Properties assets for $5.5 million. Metallus announces Q1 results with $321.6 million in net sales and a new $100 million share buyback program. Haynes Intl's fiscal Q2 net revenues hold steady at $152.5 million, with a net income of $8.6 million.

Portfolio Pulse from austin@walkonholdings.com

May 10, 2024 | 8:00 pm

WONDF

WonderFi Technologies Inc. reports a significant financial turnaround with a 43.4% revenue increase to $18.5 million and a net income of $4.9 million. The company attributes its success to leveraging synergies from recent acquisitions and enhanced cost management, with an EBITDA of $7.0 million. Cash and digital assets rose to $52.5 million, with trading volumes hitting $1.1 billion. Kevin O'Leary's bullish outlook and the company's focus on regulation and transparency are highlighted as key factors.

Portfolio Pulse from Renato Capelj

May 10, 2024 | 7:33 pm

MYTE

Mytheresa is exploring a buyout to go private and is considering acquiring Net-a-porter to enhance its distribution. The company is working with Morgan Stanley and B. Riley on these plans. Mytheresa's interest in going private and acquiring Net-a-porter comes as the luxury e-commerce space consolidates, with competitors also looking to strengthen their positions. Mytheresa's upcoming third-quarter results show a significant sales increase and improved EBITDA margin, despite its struggle to connect with Wall Street since its IPO.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 7:13 pm

NVDA

SOUN

SoundHound AI, Inc. (SOUN) sees a revenue surge from strong demand in the automotive and restaurant sectors, with Wedbush analyst Daniel Ives reiterating an Outperform rating and a price forecast of $9. The company's subscription and bookings backlog increased to $682.0 million in Q1, driven by product royalties and automotive segment strength. SoundHound has also completed the acquisition of SYNQ3 Restaurant Solutions, becoming the largest U.S. provider of voice AI for restaurants. A new partnership with NVIDIA Corporation (NVDA) was announced to deliver in-vehicle voice-enabled generative AI responses. SoundHound expects positive adjusted EBITDA in 2025 and raised its FY24 revenue outlook to $71.6 million.

Portfolio Pulse from Nabaparna Bhattacharya

May 10, 2024 | 7:02 pm

BAYRY

GOOG

IBM

INTC

MSFT

NVDA

AI is significantly impacting the pharmaceutical industry, from drug discovery to marketing, with Alphabet Inc's Google DeepMind developing AlphaFold 3, an AI model that predicts the structure of biological molecules. McKinsey reports AI could generate $60 billion-$110 billion annually for the industry, speeding up drug discovery and development. Collaborations like Bayer AG and Google Cloud are developing AI solutions for healthcare. Key players include Nvidia, Intel, IBM, Google, GE, Microsoft, Medtronic, Micron Technology, Amazon Web Services, and Siemens Healthineers.

Portfolio Pulse from Vandana Singh

May 10, 2024 | 6:49 pm

MSFT

Sarah Bond, Xbox president, hinted that the 2024 Call of Duty game might launch directly on Microsoft's Game Pass, following the company's acquisition of Activision Blizzard. This move aims to attract new subscribers and boost the gaming business amid stagnant subscriber growth and falling console sales.

Portfolio Pulse from Franca Quarneti

May 10, 2024 | 6:12 pm

GILD

Financial analysts have observed a bullish trend in Gilead Sciences's (NASDAQ:GILD) options trading, with a majority of trades leaning bullish. Analysis of unusual trades shows a preference for calls over puts, indicating expectations of a price increase. The company, known for its life-saving therapies, is currently trading up by 2.29% at $66.06, with a neutral RSI reading. The anticipated earnings release is in 83 days, and the options activity suggests a price window of $60.0 to $70.0.

Portfolio Pulse from Benzinga Insights

May 10, 2024 | 5:52 pm

LKQ

LKQ Corporation has announced the sale of Elit Polska, a Poland-based distributor of automotive parts, to MEKO AB. This move is part of LKQ's strategy to streamline its asset portfolio. Elit Polska reported 2023 revenue of approximately $107 million. The transaction is expected to close in the second half of 2024, pending regulatory approvals. LKQ also projects a free cash flow of $1 billion for 2024. LKQ owns 26.6% of MEKO AB, a leading spare parts distributor in northern Europe.

Portfolio Pulse from Nabaparna Bhattacharya

May 10, 2024 | 5:45 pm

NVDA

Nvidia's market value has reached $2.27 trillion, driven by confidence in AI technology, with Goldman Sachs predicting a further 22% growth. A partnership with Mitre to use a $20 million supercomputer for the U.S. government highlights Nvidia's role in AI and government tech projects. Despite a recent consolidation phase in its stock price, with fluctuations between $756 and $974, the outlook remains positive with potential for further increases.

Portfolio Pulse from Zaheer Anwari

May 10, 2024 | 4:55 pm

WISH

ContextLogic Inc. announced its ticker symbol will change from 'WISH' to 'LOGC' on May 13, 2024, following the sale of its Wish e-commerce platform to Qube Network Pte. Ltd., a subsidiary of Qoo10 Pte. Ltd.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 4:54 pm