Streetbeat News

Acquisitions Mergers

CGC

Recent options activity for Canopy Growth (NASDAQ:CGC) shows a bullish trend among investors, with 60% of trades being bullish and 34% bearish. The focus is on a price range of $5.0 to $21.0. Notable trades include bullish calls and a mix of bullish and neutral puts, with significant volumes and open interest in options. Canopy Growth, a cannabis company, is merging its U.S. assets into Canopy USA. The stock price is up 36.06% at $11.32, with potential overbought signals. Next earnings are expected in 51 days.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 6:30 pm

DIS

Ryan Reynolds and Rob McElhenney have acquired a stake in the Mexican soccer team Necaxa, adding to their sports assets following their purchase of Wrexham FC. The deal's terms were not disclosed, but the investment is considered significant. This move comes after their successful acquisition and promotion of Wrexham FC, which led to the award-winning docuseries 'Welcome to Wrexham' aired by FX, a Walt Disney Co unit. Necaxa, valued at around $200 million in 2022, has struggled in recent years but could see a resurgence with new celebrity ownership. The team's media rights in the U.S. are currently held by Univision, owned by TelevisaUnivision, with Grupo Televisa being the largest holder.

Portfolio Pulse from Chris Katje

April 30, 2024 | 6:05 pm

AGBA

AKLI

CHGG

GMM

MED

VNCE

The Nasdaq Composite fell over 100 points amid lower U.S. stock trading, with Coca-Cola Company reporting better-than-expected Q1 results. Health care shares slightly rose, while energy shares dropped significantly. Akili, AGBA Group Holding, and Global Mofy Metaverse saw their stocks surge on positive developments, whereas Chegg, Vince Holding, and Medifast experienced significant declines following their financial results.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 4:34 pm

AAP

Third Point initiated a position in Advance Auto Parts (AAP) in Q4 2023, citing a strategic revamp by new CEO Shane O'Kelly. The new leadership and advisors are expected to close the performance gap. The upcoming Worldpac sale is seen as a near-term catalyst to unlock shareholder value, reduce net debt, and position AAP for long-term success, with significant potential for valuation improvement as operational changes take effect.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:20 pm

AUUD

Auddia Inc. (NASDAQ:AUUD) announced the launch of a product expansion utilizing cloud-based AI and NLP for audio processing, aiming to enhance the listening experience by filtering and mixing content types. The company also closed a $2.3 million private placement to repay existing debt. Auddia's stock experienced early gains but pared back, trading down 2.42% at $1.61.

Portfolio Pulse from Erica Kollmann

April 30, 2024 | 4:19 pm

AAP

Third Point, a notable investment firm, has announced a new position in Advance Auto Parts (AAP), detailing their investment thesis in their quarterly letter. This move has attracted attention to AAP's stock, as Third Point's investment decisions are closely watched by the market.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:15 pm

PRFT

Perficient shares are trading higher after reports surfaced that the company is exploring a potential sale.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:14 pm

VZIO

WMT

VIZIO Holding Corp (VZIO) shares dropped after Walmart (WMT) received a request for more information from the FTC on their planned merger. The FTC's second request extends the review period of the merger, but both companies plan to respond promptly and continue cooperating with the FTC.

Portfolio Pulse from Adam Eckert

April 30, 2024 | 4:12 pm

CLVR

Clever Leaves Holdings Inc. (NASDAQ:CLVR) announced its plan to voluntarily delist from NASDAQ due to financial strains, aiming to reduce operational costs and regulatory compliance burdens. The delisting process is set to begin around May 6, with the final trading day on NASDAQ expected around May 16. This move is part of a broader restructuring plan, following a 60% plunge in share value since the announcement. Despite a revenue increase and operational efficiencies reported in 2023, the company faces challenges in the cannabis industry.

Portfolio Pulse from Rolando García

April 30, 2024 | 4:09 pm

AAPL

GOOG

VGT

XLK

Apple Inc has established a secretive AI lab in Zurich, recruiting AI experts from Google, aiming to enhance iPhone capabilities. The lab focuses on advanced AI models crucial for new product development. Apple plans to introduce new AI features at its Worldwide Developers Conference, potentially boosting its stock. Analysts expect a slight revenue increase for the March quarter but a guide-down for June, with a focus on revenue from China and growth in Services revenue. Apple's stock has seen over 2% growth in the last 12 months, with exposure available through VGT and XLK ETFs.

Portfolio Pulse from Anusuya Lahiri

April 30, 2024 | 4:07 pm