Streetbeat News

Acquisitions Mergers

SOUN

SoundHound AI Inc (NASDAQ:SOUN) reported strong Q2 results with revenue of $13.5 million, slightly above expectations. Despite this, shares fell 4.61% to $4.97. Analysts are focused on the company's acquisition of Amelia, an enterprise AI software company, which is expected to be transformative. Cantor Fitzgerald upgraded SOUN to Overweight with a price target of $7, Wedbush reiterated an Outperform rating with a $9 target, and DA Davidson maintained a Buy rating with a $9.50 target.

Portfolio Pulse from Priya Nigam

August 09, 2024 | 4:10 pm

PBR

Petrobras has received an environmental license to increase oil production at the Buzios field. The company plans to lower its capital expenditures (Capex) in 2024 due to strategic changes in exploration and production (E&P) and delays in refining investments. Petrobras is also analyzing four potential mergers and acquisitions (M&A) in the renewables sector. The interim E&P director mentioned efforts to start the FPSO Almirante Tamandare early at the Buzios field. Despite lower Capex in 2024, the CFO stated that next year's Capex will be higher than this year's.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 3:30 pm

PETQ

SMCI

The article discusses a successful trade on PetIQ, Inc. (NASDAQ: PETQ) that resulted in a 236% gain due to the company being taken private at $31 per share. It also mentions a previous unsuccessful trade on Super Micro Computer, Inc. (NASDAQ: SMCI) and outlines a revised trading approach focusing on broader valuation metrics, technical consolidation, longer trade durations, and post-earnings entries.

Portfolio Pulse from David Pinsen

August 09, 2024 | 3:29 pm

SOUN

SoundHound AI, Inc. (NASDAQ:SOUN) stock is trading lower despite reporting strong Q2 results, raising guidance, and announcing the acquisition of Amelia. The company reported a 54% increase in revenue, beat EPS estimates, and expects significant revenue growth in 2024 and 2025. However, the stock is down 4.5% as of Friday.

Portfolio Pulse from Anusuya Lahiri

August 09, 2024 | 3:22 pm

CAG

Conagra Brands has acquired Sweetwood Smoke & Co., the maker of FATTY Smoked Meat Sticks. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 1:02 pm

ITI

Iteris shares are trading higher following the announcement that the company will be acquired by Almaviva for $335 million.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 12:57 pm

DAT

FIVN

Five9, Inc. (NASDAQ:FIVN) shares are down 15.19% premarket after reporting Q2 2024 results. Revenue beat expectations, but the company reduced its annual revenue guidance by 3.8% due to recent bookings trends and uncertain economic conditions. Five9 also announced the acquisition of Acqueon. Investors can gain exposure via ProShares Big Data Refiners ETF (NYSE:DAT).

Portfolio Pulse from Lekha Gupta

August 09, 2024 | 12:54 pm

ABVE

Above Food Ingredients shares are trading higher following the company's announcement of acquiring Specialty Crop Food for $34 million.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 12:47 pm

AQN

LS Power has agreed to acquire the renewable energy business of Algonquin Power & Utilities Corp. (NYSE:AQN). The acquisition includes 44 operating assets with over 3,000 MW of generating capacity and an 8,000 MW pipeline of projects in development. No financial terms were disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 12:39 pm

ABVE

Above Food has acquired The Redwood Group's Specialty Crop Food Ingredient Division for $34 million. This acquisition adds a profitable operator with $164 million in revenue for FY 2023, expanding Above Food's U.S. footprint and enhancing its 'Seed-to-Fork' value chain.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 12:31 pm