Streetbeat News

Acquisitions Mergers

SHCR

Sharecare is currently engaged in active discussions with several potential buyers for a possible sale or strategic transaction, indicating a significant corporate development that could impact its future direction and stock performance.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:39 pm

BP

TSLA

BP plc is reportedly seeking to acquire Tesla supercharging sites and employees to expand its electric vehicle charging network. This follows Tesla's layoffs, including 500 employees responsible for its Supercharger network expansion. BP aims to spend $1 billion by 2030 to install over 3,000 charging locations in the U.S., with a focus on building 'Gigahubs' with 12 or more charging stations each. The move comes after BP signed a deal with Tesla last year for $100 million of supercharger hardware, with deployment expected to start by early 2025.

Portfolio Pulse from Adam Eckert

May 09, 2024 | 8:33 pm

CLSK

CleanSpark plans to acquire two Bitcoin mining locations in Wyoming for $18.75M, adding over 4 EH/s of mining capacity. The deal is expected to close in 45 days, with construction to begin shortly after.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:01 pm

PTON

Peloton's stock is experiencing an uptick, potentially continuing its rise from Tuesday's report indicating interest from private equity firms in a buyout.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 6:30 pm

PTON

Peloton Interactive, Inc. (NASDAQ:PTON) shares have surged over 35% in the past five days, following a CNBC report that multiple private equity firms are considering a buyout of the company. Despite reporting worse-than-expected third-quarter results, a CEO transition, and plans to cut 15% of its global workforce last week, the stock has seen heavy trading volume. Analysts have mixed views on PTON, with an average 12-month price target of $4.21, suggesting potential downside from its current price of $4.32.

Portfolio Pulse from Erica Kollmann

May 09, 2024 | 6:26 pm

GTHX

G1 Therapeutics, Inc. (NASDAQ:GTHX) shares surged amid M&A speculation of a takeover offer, reportedly rejecting multiple bids from TerSera Therapeutics. Trading volume spiked significantly, with over 25.4 million shares traded, far exceeding the 100-day average. Analysts from Needham and HC Wainwright & Co. maintain Buy ratings with price targets of $12 and $9, respectively. The average 1-year price target for GTHX is $10.17, indicating a potential upside of 75.65%.

Portfolio Pulse from Erica Kollmann

May 09, 2024 | 6:24 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) is internally debating adding new Call of Duty titles to Xbox Game Pass following its acquisition of Activision Blizzard. Concerns include potential revenue loss for the franchise and a price hike for the Game Pass Ultimate tier. Microsoft faces challenges with declining Game Pass subscriptions, slow console sales, and game release delays. Despite these issues, the Call of Duty franchise remains highly profitable, with significant sales on both Xbox and PlayStation platforms. Microsoft also recently closed four Bethesda Studios, indicating possible future cutbacks in its gaming division.

Portfolio Pulse from Franca Quarneti

May 09, 2024 | 6:22 pm

BX

KKR

Shares of Blackstone Inc. (NYSE:BX) and KKR & Co. Inc. (NYSE:KKR) are trading higher as Sony Music Entertainment is reported to compete with them to acquire Infocom Corp., a Japanese e-comics provider, in a deal worth about $1.3 billion. The booming e-comics market and the strategic interests of these firms in digital content are highlighted by their involvement in this potential acquisition.

Portfolio Pulse from Nabaparna Bhattacharya

May 09, 2024 | 6:06 pm

NOVC

SNDL

SNDL Inc. reported a Q1 2024 net revenue of CA$197.7 million, up from the previous year, with a gross profit of CA$50.4 million and a reduced net loss of CA$4.6 million. The company has no outstanding debt and is expanding in the US through a joint venture. SNDL and Nova Cannabis Inc. completed a deal transferring rights of four Dutch Love stores to Nova, with SNDL receiving $8.179 million in Nova shares.

Portfolio Pulse from Jelena Martinovic

May 09, 2024 | 6:00 pm

CPOP

DUOL

EMKR

SEZL

SGD

TIVC

Duolingo shares fell by 18% after reporting Q1 financial results, despite beating analyst estimates for earnings and sales. The company's Q2 and full-year revenue forecasts were slightly below estimates. Other stocks showed significant movement, with notable gainers including Pop Culture Group, Sezzle Inc., and Safe and Green Development, among others. Losers included Tivic Health Systems, EMCORE Corporation, and CytomX Therapeutics, with various reasons such as public offerings, mixed financial results, and clinical study data.

Portfolio Pulse from Avi Kapoor

May 09, 2024 | 5:57 pm