Streetbeat News

Acquisitions Mergers

ILMN

Illumina's stock price increased following a decision by Europe's top court that EU antitrust regulators overstepped their authority by blocking Illumina's acquisition of Grail.

Portfolio Pulse from Charles Gross

March 21, 2024 | 11:54 am

CLVT

Clarivate announced an agreement to acquire AI startup MotionHall, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:51 am

EADSY

JPNRF

Japan Airlines Co Ltd (OTC:JPNRF) announced plans to purchase 42 new aircraft from Boeing Company (NYSE:BA) and Airbus SE (OTC:EADSY) for fleet renewal, focusing on growth in North America, Asia, and India. The order includes 21 Airbus A350-900, 11 A321neo, and 10 Boeing 787-9 aircraft, with deliveries starting in fiscal 2027. This move aims to expand JAL's full-service and low-cost carriers by about 1.4 times by 2030.

Portfolio Pulse from Shivani Kumaresan

March 21, 2024 | 11:30 am

GAME

GameSquare Holdings, Inc. (NASDAQ:GAME) celebrates FaZe Clan's success with their energy drink FaZe Pop, which became the top-selling new energy product in 7Eleven for 2023, achieving its best sales month in February 2024. FaZe Clan, acquired by GameSquare, excels in engaging gamers through strategic brand partnerships and licensing deals, expanding their global audience.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:19 am

AMZN

IYC

META

PDD

RTH

WMT

Amazon is enhancing its delivery speed and trust to compete with Chinese e-commerce platforms Temu and Shein, which are rapidly expanding in the US. Temu, backed by PDD Holdings, has become a significant advertiser on Meta Platforms, challenging Amazon's market share. Amazon is responding by expanding same-day delivery and emphasizing its reliability. Despite these efforts, Temu and Shein continue to grow, leveraging direct shipping from China and competitive pricing. Amazon's sales from Chinese vendors have increased by over 20%, and its stock has risen by 77% over the past year. Investors can also gain exposure to Amazon through IShares U.S. Consumer Discretionary ETF and VanEck Retail ETF.

Portfolio Pulse from Anusuya Lahiri

March 21, 2024 | 11:09 am

INDI

indie Semiconductor's stock is trading higher following the announcement of its investment in Expedera. This strategic move could signal indie Semiconductor's commitment to expanding its technological capabilities and market reach.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:00 am

CLVT

Clarivate Plc (NYSE:CLVT) has announced the acquisition of the majority of assets from MotionHall, a Silicon Valley-based AI start-up focusing on life sciences. The financial details of the transaction were not disclosed. This acquisition is a strategic move to enhance Clarivate's Life Sciences & Healthcare offerings through generative AI and AI solutions, aiming to improve products like Clarivate Cortellis and introduce new tools such as a Business Development & Licensing Enterprise Workbench. Clarivate's cash position was $370.7 million as of December 31, 2023. Following the news, CLVT shares rose 4.06% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 21, 2024 | 10:53 am

TITN

Titan Machinery forecasts FY25 EPS to be between $3.00-$3.50, below the estimated $4.40. The growth is expected from the O'Connors acquisition and parts and service business, despite anticipating equipment margin compression and investments in customer care.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 10:52 am

SCVL

Shoe Carnival forecasts Fiscal 2024 net sales of $1.21B-$1.25B, slightly below the $1.23B consensus, with comparable store sales expected to decrease by 3%-1% YoY. The company anticipates adjusted EPS of $2.55-$2.75, under the $2.84 consensus. Growth is expected from the Rogan's acquisition, Shoe Station banner, and e-commerce, despite a projected increase in SG&A expenses and a higher income tax rate.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 10:21 am

ARKG

ARKK

MRNA

PFE

Cathie Wood's Ark Invest has significantly increased its stake in Moderna, Inc. (MRNA), doubling its holdings since the fourth quarter, as indicated by recent purchases through its ARK Innovation ETF (ARKK) and Ark Genomic Revolution ETF (ARKG). This move comes as Moderna diversifies its product pipeline beyond its COVID-19 vaccine, Spikevax, and reports strong revenue figures. Meanwhile, Ark has sold off its shares in Pfizer, Inc. (PFE), a rival COVID-19 vaccine maker. Moderna's stock has seen a modest year-to-date gain, lagging behind the broader market, but analysts see a potential upside.

Portfolio Pulse from Shanthi Rexaline

March 21, 2024 | 10:00 am