Streetbeat News

Acquisitions Mergers

AGBA

AGBA Group Holding Limited's stock price has increased following the announcement of its plans to proceed with the previously-announced merger with Triller.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:23 pm

AGBA

AGBA Group Holding Limited (AGBA) announced a definitive merger agreement with Triller Corp., aiming to become a global powerhouse in digital media and financial services. The merger, set for April 16, 2024, combines AGBA's fintech expertise with Triller's AI-driven social video platform, focusing on scaling up, developing monetization capabilities, and executing strategic acquisitions. The combined entity plans to leverage opportunities in a favorable market, with expectations of exponential growth in 2024 and 2025.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:18 pm

AKLI

Akili's stock price increased following the announcement that Shionogi has forgiven a $5.0 million long-term debt and agreed to make payments for SDT-001.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:17 pm

PBI

Lakeview Investment Group & Trading Company, LLC, holding approximately 2.55% of Pitney Bowes Inc. (PBI) shares, issued an open letter urging PBI's Board to sell its Global Ecommerce (GEC) unit. Lakeview argues this sale could significantly reduce PBI's leverage ratio, potentially double its share price, and address the ongoing issue of leadership turnover. They believe divesting the money-losing GEC could enhance shareholder value by improving net income and balance sheet health, suggesting the company could then focus on debt reduction and share repurchases.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:10 pm

ZUO

Zuora, Inc. (NYSE:ZUO) announced its acquisition of Togai, aiming to enhance its usage-based offerings amid the GenAI technology boom. Togai's metering and rating solution will be integrated into Zuora's monetization suite, facilitating developers and finance teams in launching and managing usage-based models. The acquisition, expected to close in early May 2024, will enable Zuora to offer a more comprehensive solution for modern monetization challenges, leveraging Togai's capabilities to support up to a billion events per day and provide fully auditable usage data.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:09 pm

BBVA

Banco Bilbao Vizcaya Argentaria (BBVA) shares are trading lower after the company confirmed its intention to start talks with Sabadell on a potential merger. This news indicates a significant move in the banking sector that could lead to a consolidation, affecting the market position and financial stability of both entities.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:05 pm

JNVR

Janover Inc (NASDAQ:JNVR) has officially launched Janover Insurance Group Inc, an insurtech subsidiary focusing on commercial property insurance. The company has obtained insurance licenses in Texas and Florida, with more applications pending in other states. Janover aims to leverage its expertise in real estate transactions for the insurance brokerage model, has recruited executives and a top-tier manager for the subsidiary, and is expanding insurance options through partnerships. The goal is to achieve national coverage and enhance client engagement with a comprehensive content strategy.

Portfolio Pulse from Mohit Manghnani

April 30, 2024 | 1:03 pm

AEYE

HCP

NISN

PI

Four tech stocks, AudioEye, Inc. (AEYE), Impinj, Inc. (PI), HashiCorp, Inc. (HCP), and Nisun International Enterprise Development Group Co., Ltd (NISN), are considered overbought as of April 30, 2024, based on their RSI values. AEYE and PI reported better-than-expected Q1 results, boosting their stock prices. IBM announced plans to acquire HCP, significantly increasing its stock price. NISN's stock also saw a rise despite a year-over-year decrease in H1 EPS.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 12:59 pm

BBVA

BBVA has confirmed its intention to begin discussions with Sabadell regarding a potential merger. This move could significantly impact the banking sector, potentially leading to a consolidation that may enhance the competitive landscape.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:52 pm

GROM

Grom Social Enterprises, Inc. (NASDAQ:GROM) is advancing towards the acquisition of Arctic7, a Texas-based gaming industry service provider. The companies are now in the definitive documents draft phase of the deal, initially announced in March. This acquisition aims to integrate Arctic7's gaming development services with Grom's family-friendly media and technology solutions, potentially tapping into the $180B gaming industry. Arctic7 is expected to operate as a division within Grom post-acquisition, focusing on delivering engaging gaming experiences.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:38 pm