Streetbeat News

Acquisitions Mergers

AZN

BSX

ELV

FUSN

Four health care stocks, Fusion Pharmaceuticals Inc. (FUSN), AstraZeneca PLC (AZN), Boston Scientific Corporation (BSX), and Elevance Health, Inc. (ELV), are identified as overbought based on their RSI values, indicating potential short-term price declines. FUSN's significant gain is due to AstraZeneca's acquisition offer, while AZN, BSX, and ELV have shown strong performance based on recent financial results.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:09 pm

EIPX

KEAT

TTE

TotalEnergies SE (NYSE:TTE) reported a mixed quarter with an adjusted EPS of $2.14, down 18% Y/Y but beating consensus estimates. Hydrocarbon production slightly fell, and adjusted operating income and EBITDA saw declines across segments. The company announced a dividend increase, a share repurchase program, and anticipates stable production and refinery utilization rates for the next quarter. TotalEnergies also acquired a 50% stake in SapuraOMV Upstream Sdn for $530 million. Investors can gain exposure to TTE through EIPX and KEAT ETFs. TTE shares are down 0.41% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 26, 2024 | 12:08 pm

ICLK

iClick Interactive Asia Group Limited (NASDAQ:ICLK), a leading enterprise and marketing cloud platform in China, announced the termination of its merger agreement with TSH Investment Holding Limited and TSH Merger Sub Limited. Despite confirming readiness for closing, the merger was not completed within the agreed timeframe, leading iClick to terminate the agreement and demand a US$1,800,000 termination fee.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:04 pm

SLCA

U.S. Silica Holdings' stock is trading higher following the announcement of its Q1 financial results and the news that it will be acquired by funds managed by affiliates of Apollo.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:00 pm

OPRX

OptimizeRx Corporation (OPRX) forecasts a significant revenue increase of over 40% YoY for 1Q24, expecting to achieve $18.5M-$19.2M, surpassing the $17.03M estimate. This growth is attributed to strong organic growth from its Dynamic Audience Activation Platform (DAAP) and the acquisition of Medicx Health in October 2023. The company also reports progress in commercial integration and cross-selling activities with Medicx, highlighting a potential $2.8 billion opportunity with existing brands. Despite the revenue growth, OPRX anticipates a GAAP net loss and Adjusted EBITDA loss for the quarter.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:37 am

IYT

JETS

LUV

Southwest Airlines Co (NYSE:LUV) is considering abandoning its open seating policy for assigned seats and premium options to attract younger travelers. This marks a significant shift from its traditional model since 1971. The decision is part of a broader strategy to meet evolving customer expectations, with an official announcement expected in September. Additionally, Southwest announced the closure of operations at four airports. The company's stock has declined over 11% in the past year, impacting investors in LUV and related ETFs like U.S. Global Jets ETF (NYSE:JETS) and iShares U.S. Transportation ETF (BATS:IYT).

Portfolio Pulse from Shivani Kumaresan

April 26, 2024 | 11:12 am

APO

SLCA

U.S. Silica stockholders will receive $15.50 per share in cash, an 18.7% premium over the closing share price as of April 25, 2024. This announcement likely indicates a significant transaction involving U.S. Silica.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:09 am

APO

SLCA

U.S. Silica has agreed to be acquired by funds managed by affiliates of Apollo at an enterprise value of $1.85 billion. This acquisition marks a significant transaction in the materials sector, potentially altering the competitive landscape.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:06 am

PSX

Phillips 66 aims to increase its mid-cycle adjusted EBITDA to $14 billion by 2025 and return over 50% of operating cash flow to shareholders. The company has already distributed $9.9 billion through share repurchases and dividends since July 2022, targeting $13 billion to $15 billion by the end of 2024. It also plans to divest assets not fitting its long-term strategy, including its retail marketing business in Germany and Austria.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:03 am

MSFT

Microsoft Corp's CEO Satya Nadella is planning a visit to Southeast Asia to discuss AI developments with government officials and developers. The visit aims to strengthen Microsoft's AI initiatives in the region, leveraging its Azure cloud-computing unit and partnership with OpenAI. Microsoft's focus on AI has driven demand for its software and cloud services, contributing to a 17% increase in third-quarter revenue to $61.9 billion, surpassing analyst estimates. The company also highlighted its record-breaking gaming performance and expansion plans.

Portfolio Pulse from Benzinga Neuro

April 26, 2024 | 10:12 am