Streetbeat News

Acquisitions Mergers

TPR

Analyst evaluations of Tapestry (NYSE:TPR) over the last three months show diverse outlooks, with a recent trend towards bullish sentiment. The average 12-month price target for TPR is now $50.6, reflecting a 15.0% increase from the previous target. Tapestry's financial performance is strong, with notable revenue growth, net margin, ROE, and ROA, despite a high debt-to-equity ratio. The company's acquisition of Capri, including brands like Michael Kors, Versace, and Jimmy Choo, could further impact its market position.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 3:00 pm

MMA

Alta Global Group Limited (NYSE:MMA) is set to start trading on the NYSE on March 28, with its IPO priced between $4.00 and $6.00 per share. The company, focusing on the martial arts and combat sports industry, aims to enhance monetization opportunities within the sector. An insider lock-up period is set for 180 days, ending on September 24, 2024.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 3:00 pm

MNDR

Mobile-health Network Solutions (MNDR) is set to begin trading on NASDAQ on March 28, with an IPO price range between $4.00 and $5.00 per share. The company, a leading telehealth solutions provider in Singapore, has an insider lock-up period ending on September 24, 2024.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 3:00 pm

IBIO

iBio Inc (NYSE:IBIO) shares surged over 100% after announcing a collaboration with AstralBio Inc to develop antibodies for obesity and cardiometabolic conditions. The surge followed a $15 million private placement financing and the granting of an exclusive license to AstralBio for AI-powered technology to identify and engineer targets for cardiometabolic disease. iBio retains the option to license three cardiometabolic targets from AstralBio and will develop, manufacture, and commercialize those targets upon exercise.

Portfolio Pulse from Vandana Singh

March 27, 2024 | 2:04 pm

CTAS

MRK

NOAH

PAYS

Cintas Corporation reported better-than-expected Q3 financial results, leading to a 9.7% rise in its shares. Other companies like PaySign, Noah Holdings, and NuScale Power also saw significant gains after positive financial reports or upgrades. Notably, Merck received FDA approval for a new treatment, contributing to a 4.4% increase in its stock price.

Portfolio Pulse from Avi Kapoor

March 27, 2024 | 2:03 pm

SPCB

SuperCom (NASDAQ: SPCB), through its subsidiary Leaders in Community Alternatives, has won a new project in California valued at up to $2 million. The project, focusing on jail-based re-entry services for adult inmates, aims to reduce recidivism and is expected to generate $400 thousand in annual recurring revenues over a 5-year term. The project launch is anticipated in summer 2024, following county approval and contract negotiations.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 1:55 pm

GMDA

Gamida Cell Ltd. (NASDAQ:GMDA) shares plummeted after announcing a restructuring agreement with Highbridge Capital Management, aiming to provide financial stability and support for Omisirge's commercialization. The deal involves converting $75 million of debt into equity and injecting $30 million of new capital, making Gamida Cell a private entity wholly owned by Highbridge. The company's shares are expected to be canceled post-restructuring. Gamida Cell reported a net revenue of $1.8 million for FY23 and a reduced net loss compared to the previous year. The company also plans a 25% headcount reduction and will consolidate its operations in Israel.

Portfolio Pulse from Nabaparna Bhattacharya

March 27, 2024 | 1:42 pm

MRDB

PRGS

MariaDB plc (NYSE:MRDB) shares surged after Progress Software Corporation (NASDAQ:PRGS) proposed to acquire all issued share capital of MariaDB at $0.60 per share, an 88% premium over the last 30 trading days' average and a 216% premium over the closing price on February 5, 2024. The offer also exceeds a previous $0.55 per share offer from K1 Capital. Progress is ready to engage with MariaDB's Board to expedite the offer. As of February 29, 2024, Progress Software had $133.2 million in cash and equivalents.

Portfolio Pulse from Lekha Gupta

March 27, 2024 | 1:28 pm

RUN

Sunrun Inc (NASDAQ:RUN) shares are trading higher after being selected to move from the S&P MidCap 400 to the S&P SmallCap 600, replacing PGT Innovations. This change is effective prior to market open on April 1, as MITER Brands acquires PGT Innovations. Sunrun's stock has been declining, with a more than 40% drop over a year and a -2.65% revenue growth in FY23. The company's performance is influenced by macroeconomic factors such as interest rates, inflation, and labor market strength.

Portfolio Pulse from Adam Eckert

March 27, 2024 | 1:28 pm

ACM

GTLS

HII

STT

V

Jim Cramer discussed various companies on CNBC's 'Mad Money Lightning Round,' praising Visa Inc. (V) and Chart Industries (GTLS), while expressing caution about State Street Corporation (STT) and AECOM (ACM) due to their current stock prices. Visa and Mastercard Incorporated (MA) reached a significant antitrust settlement, and Cramer showed preference for Wells Fargo & Company (WFC) and Morgan Stanley (MS) over STT. He also highlighted Huntington Ingalls Industries (HII) as a strong navy contractor.

Portfolio Pulse from Avi Kapoor

March 27, 2024 | 1:24 pm