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EQT

ETRN

EQT Corporation (EQT) and Equitrans Midstream Corporation (ETRN) announced a merger agreement, with EQT acquiring Equitrans in an all-stock transaction valued at over $35 billion. The deal, expected to close in Q4 2024, will see Equitrans shareholders receive 0.3504 EQT shares per Equitrans share, implying a value of $12.50 per share. Post-merger, EQT shareholders will own approximately 74% and Equitrans shareholders about 26% of the combined entity. The merger is anticipated to generate significant free cash flow and synergies, with EQT's shares down 4.32% and ETRN's shares up 8.16% in premarket trading.

Portfolio Pulse from Lekha Gupta

March 11, 2024 | 12:29 pm

CXM

Sprinklr, Inc. (NYSE:CXM) announced the launch of a local data hosting solution in Saudi Arabia, hosted on Google Cloud, aiming to expand in the Middle East and comply with regional regulations. This move, marking Sprinklr as the first customer experience platform with local hosting in Saudi Arabia on Google Cloud, is expected to provide a competitive advantage. The company reported an 18% Y/Y revenue increase for Q3 FY24 to $186.3 million, surpassing consensus estimates. CXM shares rose 0.38% in premarket trading.

Portfolio Pulse from Lekha Gupta

March 11, 2024 | 12:20 pm

AVGO

COST

NFLX

NIO

SNA

STAA

STZ

WSM

Top Wall Street analysts have updated their price targets and ratings for several US-listed companies, indicating potential stock movements. STAAR Surgical, Hyatt Hotels, Williams-Sonoma, Costco Wholesale, Snap-on, NIO, General Electric, Netflix, Constellation Brands, and Broadcom have all seen changes in their analyst forecasts, with adjustments in price targets and, in some cases, ratings. These changes could influence the short-term performance of these stocks.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 12:16 pm

MSTR

MicroStrategy Inc. (NASDAQ:MSTR) has successfully raised $800 million through the sale of convertible notes, with plans to use the funds to purchase more Bitcoin. The notes, bearing a low interest rate of 0.625% per year, are set to mature on March 15, 2030, unless converted into stock earlier. This move comes as Bitcoin's price surpassed the $70,000 mark. Following the announcement, MSTR's stock price surged 8.59% to $1,548 before market open.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 12:13 pm

RCM

R1 RCM Inc. (NASDAQ:RCM) has formed a special committee to evaluate strategic alternatives following a Schedule 13D/A filing by New Mountain Capital. The committee, consisting of independent directors, aims to enhance stockholder value and will review communications from New Mountain Capital. R1 remains committed to delivering high-quality revenue cycle solutions to its clients. No timeline or outcome assurances were provided, and R1 will not comment further until a decision is made.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:11 pm

AMLX

Baird analyst Joel Beatty downgraded Amylyx Pharma (NASDAQ:AMLX) from Outperform to Neutral and significantly reduced the price target from $37 to $4, indicating a bearish outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:11 pm

CMT

Core Molding Technologies, Inc. (CMT) has announced a stock repurchase program authorizing the buyback of up to $7.5 million of its common stock. This decision reflects the company's strong operational performance and balance sheet, allowing for capital allocation to both share repurchases and company growth. The repurchases will be made in the open market, subject to securities laws, and can be suspended or terminated at the company's discretion.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:10 pm

ACA

NOV

Arcosa, Inc. (ACA) has announced an agreement to acquire Ameron Pole Products from NOV Inc. (NOV) for $180 million in cash. This acquisition is aimed at expanding Arcosa's presence in the infrastructure market, specifically in the concrete and steel pole lighting sector, as well as in traffic and telecommunication structures. Ameron, with revenues of approximately $94 million and an Adjusted EBITDA of $20 million for the year ended December 31, 2023, strengthens Arcosa's Engineered Structures segment. The purchase will be funded through cash and available revolver capacity, with the transaction expected to close in the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:09 pm

DUO

PIK

SELX

Fangdd Network Group Ltd. (NASDAQ:DUO) shares surged 78.3% in pre-market trading after announcing its 2024 strategic plan to enter the real estate stock asset services sector. Other stocks showed significant movement in pre-market trading, with Kidpik Corp. (NASDAQ:PIK) and Auddia Inc. (NASDAQ:AUUD) among the top gainers, while Semilux International Ltd. (NASDAQ:SELX) and Lytus Technologies Holdings PTV. Ltd. (NASDAQ:LYT) led the losers.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 12:08 pm

SVRE

SaverOne 2014 Ltd. (NASDAQ:SVRE) has expanded its collaboration with GB Tours, installing the SaverOne System across GB Tours' full fleet of public transportation and tour buses in Israel. This follows a successful pilot on 20 buses, with an additional 77 buses to be equipped. The system aims to enhance passenger safety by minimizing traffic accident risks, marking a significant step in SaverOne's growth in the public transportation sector.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:08 pm