Streetbeat News

Acquisitions Mergers

NXGL

NEXGEL has acquired all assets of Silly George for $400,000 in cash, $200,000 in NEXGEL common stock, and a 4-year net profit earn out. Silly George has a revenue run rate of approximately $2 million. The management of Silly George will remain in place, and inventory will be provided by the seller at cost and paid for after the sale of each unit.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 1:23 pm

IBM

PANW

Palo Alto Networks (PANW) and IBM (IBM) have announced a partnership to deliver AI-powered security solutions. As part of the deal, Palo Alto will acquire IBM's QRadar SaaS assets. Keybanc analyst Michael Turits has raised the price target for PANW from $355 to $384. PANW shares are up 0.78% following the news.

Portfolio Pulse from Adam Eckert

May 16, 2024 | 1:20 pm

NFLX

Netflix has acquired rights to stream NFL games on Christmas Day from 2024 to 2026, which is expected to boost its subscriber base and ad revenue. JPMorgan analyst Doug Anmuth reiterates an Overweight rating on Netflix with a price target of $650, citing the company's strategic moves in ad tech and content diversification.

Portfolio Pulse from Surbhi Jain

May 16, 2024 | 1:05 pm

AFL

Aflac Global Investments is set to acquire a 40% stake in Tree Line Capital Partners, expanding its investment portfolio.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 1:02 pm

CRBG

Corebridge Financial shares are trading higher after AIG reached a deal to sell shares of its stock in the company to Nippon Life Insurance.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 12:57 pm

CBRG

Corebridge Financial shares are trading higher after AIG reached a deal to sell shares of its stock in the company to Nippon Life Insurance.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 12:56 pm

ABB

AZN

KVUE

MYNZ

NVS

PFE

SNY

Pfizer, AstraZeneca, Sanofi, and other pharmaceutical companies are investing heavily in France to expand their operations. Pfizer and AstraZeneca will invest nearly $1 billion combined, while Sanofi will invest $1.1 billion. Other companies like AbbVie, Novartis, and Kenvue are also increasing their presence in France. Additionally, Mainz Biomed is expected to unveil breakthrough early cancer detection results in the US.

Portfolio Pulse from Upwallstreet

May 16, 2024 | 12:51 pm

BX

Blackstone has announced its acquisition of a majority stake in Priority Software, a leading provider of business management software. This move is expected to enhance Blackstone's portfolio in the technology sector.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 12:38 pm

BRK

CB

Warren Buffett's Berkshire Hathaway has acquired nearly 26 million shares of Chubb Ltd, making it Berkshire's ninth-largest holding. This move comes amid significant challenges in the insurance industry due to climate change. Despite these challenges, Buffett's investment indicates confidence in Chubb's long-term prospects.

Portfolio Pulse from Surbhi Jain

May 16, 2024 | 12:33 pm

MSFT

Microsoft announced a €4 billion investment to enhance its Cloud and AI infrastructure in France, aligning with the French government's 'Choose France' initiative. The stock has shown a 9% recovery after a near 10% decline, with potential to reach $500.

Portfolio Pulse from Zaheer Anwari

May 16, 2024 | 12:27 pm