Streetbeat News

Acquisitions Mergers

ENV

Envestnet shares are trading higher following reports that the company is considering various options, including a potential sale.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 7:32 pm

REZI

SNPO

Resideo Technologies Inc's acquisition of Snap One Holdings Corp for $1.4 billion is seen as a 'strong strategic fit' by JPMorgan, with a potential 35% upside for Resideo's stock. The deal aligns with both companies' focus on the smart living market, with financial and strategic benefits expected from the merger. JPMorgan maintains an Overweight rating on Resideo with a $27 price target, highlighting the complementary nature of the companies and potential for significant distribution expansion and profitability growth for Snap One.

Portfolio Pulse from Surbhi Jain

April 16, 2024 | 6:54 pm

ENV

Envestnet is reportedly exploring various options, including a potential sale, with assistance from a financial advisor, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:29 pm

ABBV

AVTX

LLY

NVS

Oppenheimer upgraded Avalo Therapeutics Inc (AVTX) after its acquisition of an ex-Eli Lilly drug, AVTX-009, for hidradenitis suppurativa (HS). The drug is Phase 2-ready and shows promise in the competitive HS market, with a potential expansion into ulcerative colitis. Avalo announced a $185 million private placement to fund development. The analyst set a $35 price target, anticipating a 15% market penetration and a $75,000 launch price in 2029. AVTX shares rose 13.9% to $17.36.

Portfolio Pulse from Vandana Singh

April 16, 2024 | 6:25 pm

CURLF

MSOS

Boris Jordan, associated with Curaleaf, mentioned that following an acquisition in Canada, the company now has business operations in Australia and New Zealand. They are focusing on these markets to make Curaleaf's brands the most recognizable in the cannabis space.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:20 pm

CURLF

MSOS

Boris Jordan has announced the acquisition of a company to expand into the European market, focusing on EUGMP certified cannabis flowers and controlling the full supply chain for both flower and product sides. The announcement was made in the context of promoting the Cannabis Capital Conference, which offers live access for both existing and new subscribers.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:19 pm

BNED

CLDI

SKIL

WISA

Skillsoft Corp. shares fell by 26.7% after reporting mixed Q4 results and lower-than-expected FY25 revenue guidance. Other stocks moved significantly in Tuesday's session, with notable gainers including WiSA Technologies and Palisade Bio, and losers like Barnes & Noble Education and Calidi Biotherapeutics.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 6:17 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) has invested $1.5 billion in Abu Dhabi-based AI company G42 to strengthen its AI market position. Despite promising business developments, Microsoft's stock has experienced volatility, with recent fluctuations and a potential to drop to $400. The partnership aims to leverage Azure for AI service development, challenging competitors like Google. Microsoft's stock has seen a 10% increase this year but faced a 1.91% decline to close at $413.64 on April 15.

Portfolio Pulse from Zaheer Anwari

April 16, 2024 | 5:56 pm

NSANY

TSLA

Honda Motor Co Ltd (NYSE:HM) is intensifying its EV efforts in China by launching a new EV brand named Ye and planning to release six next-generation EVs by 2027, aiming for all its China sales to be EVs by 2035. Honda is considering a strategic partnership with Nissan Motor Co Ltd (OTC:NSANY) for key EV components and software. Nissan plans to mass-produce next-generation EV batteries by 2029 and adopt Tesla Inc's (NASDAQ:TSLA) gigacasting manufacturing process. Honda also unveiled its 'Honda 0 Series' EVs for global markets, starting in North America in 2027.

Portfolio Pulse from Upwallstreet

April 16, 2024 | 5:54 pm

BLDP

WBAT

Ballard Power Systems, Inc. (NASDAQ:BLDP) shares are trading lower despite announcing several purchase orders for 70 FCmove-HD hydrogen fuel cell engines from Wrightbus for buses in the U.K. and Europe. Deliveries are expected in 2024 with the buses entering service in 2025. This follows the largest order in the company's history earlier this month, a Long Term Supply Agreement with Solaris Bus & Coach for 1,000 engines through 2027. Investors can also gain exposure to BLDP through the WisdomTree Trust WisdomTree Battery Value Chain And Innovation Fund (BATS:WBAT). BLDP's stock has declined over 45% in the past year.

Portfolio Pulse from Nabaparna Bhattacharya

April 16, 2024 | 5:47 pm