Streetbeat News

Acquisitions Mergers

RCM

R1 RCM shares surged following an acquisition offer valued at $13.75 per share, indicating a significant market event for the company.

Portfolio Pulse from Luke J Jacobi

February 26, 2024 | 1:27 pm

SQNS

Sequans Communications S.A. (NYSE:SQNS) announced the termination of a Memorandum of Understanding with Renesas, which had proposed a tender offer for all Sequans' shares. Despite this, Sequans remains optimistic about its future, citing strong customer relationships, technological capabilities, and a growing revenue pipeline. The company is exploring strategic options and will provide a business outlook during its Q4 and full-year 2023 earnings call on March 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 1:24 pm

GILT

Gilat Satellite Networks Ltd (NASDAQ:GILT) reported a 4% year-on-year revenue growth for Q4 fiscal 2023, reaching $75.61 million but missing the consensus estimate of $75.99 million. Adjusted EPS was $0.11, beating the consensus of $0.07. The company concluded the acquisition of DataPath, aiming for long-term growth in the defense sector. Gilat expects FY24 revenue of $305 million-$325 million, above the consensus of $291.62 million. GILT shares were down 1.26% to $6.25 in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 26, 2024 | 1:11 pm

STRL

Sterling Infrastructure has been awarded a $155 million contract for a runway extension at Lihue Airport in Kauai, Hawaii. This contract will be included in the company's first quarter 2024 backlog.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 1:11 pm

AGTI

Agiliti Inc. (NYSE:AGTI) is set to go private in a deal with THL Partners, valuing the company at approximately $2.5 billion. Shareholders will receive $10 per share in cash, a significant premium over recent average prices. The deal, recommended by a special committee and approved by the board, is expected to close in the first half of 2024. Agiliti will not host a Q4 and full year 2023 earnings call but will file its annual report by March 15, 2024.

Portfolio Pulse from Happy Mohamed

February 26, 2024 | 1:10 pm

SVFD

Save Foods, Inc. (NASDAQ:SVFD), an Agri-Food Tech company, has commenced commercial activities in Brazil through an exclusive local distributor, following compliance with local regulations. This move capitalizes on Brazil's significant growth in fruit exports, which saw a 6% increase in 2023, reaching 1.06 million tons. Save Foods' eco crop protection solution aims to support Brazilian packers in meeting EU market standards, particularly the EU's residue limits. The partnership with the distributor is expected to enhance the post-harvest treatment of fresh produce, starting with limes and mangos, benefiting farmers, distributors, and consumers.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 1:01 pm

IBIO

Otsuka Pharmaceutical has acquired assets related to iBio's early-stage Programmed Cell Death Protein 1 (PD-1) agonist program. iBio will receive an upfront payment of $1M and is eligible for up to $52.5M in additional contingent cash payments.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 12:48 pm

CAR

OP

The article highlights Avis Budget Group, Inc. (NASDAQ:CAR) and OceanPal Inc. (NASDAQ:OP) as the top 2 oversold industrials stocks that may see significant growth this quarter. Avis Budget Group announced the pricing of €600 million of senior notes, leading to a 40% stock price drop over the past month, but shares gained 5% recently. OceanPal Inc. saw a 15% stock price drop over the past five days after a 13G filing showed an 8% stake by Maria Margaroni, with shares falling 9.6% recently.

Portfolio Pulse from Avi Kapoor

February 26, 2024 | 12:36 pm

RCM

New Mountain Investments V has proposed a purchase price of $13.75 per share in cash for R1 RCM as part of their January 26 waiver request.

Portfolio Pulse from Charles Gross

February 26, 2024 | 12:34 pm

TWLO

Legion Partners, holding 601,050 shares of Twilio, has sent a letter to Twilio's board urging the company to sell its Segment business and significantly expand its stock buyback program.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 12:09 pm