Streetbeat News

Acquisitions Mergers

TGTX

TG Therapeutics is in the spotlight due to a blog suggesting its strong sales forecast for a Multiple Sclerosis drug could attract M&A interest. The company's potential to draw suitors is based on the promising outlook for its MS treatment.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 2:03 pm

YUM

Yum! Brands, Inc. (NYSE:YUM) shares fell after missing Q1 earnings and revenue forecasts. The company reported adjusted EPS of $1.15 versus the expected $1.20 and revenues of $1.598 billion against the anticipated $1.710 billion. Despite this, Yum! Brands saw a 6% unit growth with over 800 new openings, aiming to surpass 60,000 restaurants. Worldwide system sales grew 2%, with KFC and Taco Bell each growing at 4%, while Pizza Hut saw a 4% decline. The company also highlighted a record digital sales mix, exceeding 50% for the first time, and completed the acquisition of 218 KFC franchise restaurants in the U.K. and Ireland.

Portfolio Pulse from Nabaparna Bhattacharya

May 01, 2024 | 1:56 pm

AKAN

AMZN

CETX

CTMX

CVRX

LEG

U.S. stocks showed mixed performance with the Dow Jones and NASDAQ experiencing slight gains, while the S&P 500 fell. Amazon reported higher-than-expected first-quarter net sales but projected weaker sales for the next quarter. CytomX Therapeutics, Akanda Corp., and Palisade Bio saw significant stock price increases, while Cemtrex, CVRx, and Leggett & Platt faced sharp declines. The article also touches on sector performances, commodity prices, and global market trends.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 1:52 pm

PGSS

SHMD

SCHMID Group has completed a business combination with Pegasus Digital Mobility Acquisition Corp., resulting in SCHMID Group N.V. starting to trade on the Nasdaq under the ticker 'SHMD' from April 30, 2024. The combination includes a non-redemption and investment agreement for approximately $26 million in committed capital. SCHMID, a global provider for high-tech industries, is supported by a diverse board of directors and is based in Germany.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:40 pm

NSIT

Insight Enterprises has completed the acquisition of Infocenter. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:22 pm

CETX

Cemtrex Inc (NASDAQ:CETX) stock plummeted 75% to $0.29 after announcing a public offering expected to raise $10 million, up from $9 million. The offering includes common and pre-funded units, with Aegis Capital Corp. having an option to purchase additional shares/warrants. Funds are intended for operational purposes, marketing, business investments, debt repayment, and potentially acquiring complementary businesses or technologies. The offering's closing is scheduled for May 3.

Portfolio Pulse from Henry Khederian

May 01, 2024 | 1:20 pm

BZH

Beazer Homes has acquired 174 acres in Marietta, Georgia, with plans to develop 591 homes. This strategic acquisition aims to expand Beazer Homes' footprint in the region and capitalize on the growing demand for residential properties.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:09 pm

ELAB

Elevai Labs, Inc. (ELAB) has acquired an exclusive license for two myostatin muscle loss prevention assets and announced plans to develop these in combination with GLP-1 obesity treatments. This strategic move aims to enhance Elevai Labs' offerings in the healthcare sector, specifically targeting muscle loss prevention and obesity treatment.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 1:04 pm

GPC

Genuine Parts Company (GPC) has acquired Motor Parts & Equipment, advancing its strategic initiative to increase its ownership of stores in priority markets. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 12:59 pm

ALCE

Alternus Clean Energy (ALCE) has entered into an agreement with a US hedge fund to acquire an 80 MWp operating portfolio, which is anticipated to generate $6.7 million in annual revenue. This strategic move is expected to significantly enhance ALCE's asset base and revenue stream, marking a pivotal development in its growth trajectory.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 12:59 pm