Latest news with #acquisition
Yahoo
3 hours ago
- Business
- Yahoo
Raymond James Upgrades DoorDash (DASH) Stock, Lifts PT
DoorDash, Inc. (NASDAQ:DASH) is one of the 10 Unstoppable Stocks to Buy According to Hedge Funds. On June 23, Raymond James analyst Josh Beck upgraded DoorDash, Inc. (NASDAQ:DASH)'s stock to 'Strong Buy' from 'Outperform' with a price target of $260, an increase from $215. This upgrade comes on the heels of an underappreciated valuation amidst consideration of the Deliveroo acquisition. The firm's analyst expects the acquisition to result in a mid-teens increase in DoorDash, Inc. (NASDAQ: DASH)'s EBITDA by 2026 and high teens by 2027. Furthermore, the synergies, together with elevated investment in advertising, operational performance, and future benefits coming from autonomous technology, can fuel the company's stock. A shot of a delivery driver zooming down a busy street, symbolizing the company's quick and efficient delivery services. Apart from this, DoorDash, Inc. (NASDAQ:DASH) has made an acquisition of NYC-based software company, Seven Rooms, and ad platform, Symbiosys. DoorDash, Inc. (NASDAQ:DASH) expects that both SevenRooms and Deliveroo can expand its ability to build world-class services, thereby, increasing its potential to grow local commerce and help with financial goals. In Q1 2025, its total orders saw an increase of 18% YoY to 732 million, and marketplace GOV rose 20% YoY to $23.1 billion. The YoY growth in total orders was due to growth in consumers and average consumer engagement. For Q2 2025, DoorDash, Inc. (NASDAQ:DASH) expects marketplace GOV of between $23,3 billion – $23.7 billion, and adjusted EBITDA of $600 million – $650 million. Sands Capital, an investment management company, released its Q1 2025 investor letter. Here is what the fund said: 'DoorDash, Inc. (NASDAQ:DASH) is the leading food delivery platform in the United States by market share. The business exceeded investor expectations in its most recently reported quarter, demonstrating continued strong execution. Orders grew 19 percent year-over-year, supported by 14 percent growth in monthly active users, while adjusted EBITDA rose 56 percent. First-quarter 2025 guidance was better than consensus expected, calling for 20 percent gross order volume growth. Our investment case continues to play out, and we continue to believe that consensus underestimates DoorDash's longer-term earnings power.' While we acknowledge the potential of DASH to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DASH and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. Sign in to access your portfolio
Yahoo
6 hours ago
- Business
- Yahoo
Why Northern Trust Stock Zoomed 11% Higher This Week
A newspaper report stated a suitor might be interested in effectively acquiring the bank. That won't exactly be a cheap purchase, however. 10 stocks we like better than Northern Trust › Very often, when a publicly traded company is the focus of takeover interest, investors are attracted to its stock. That was the case earlier this week when a media report stated that banking conglomerate Northern Trust (NASDAQ: NTRS) had been approached by a potential suitor. That juiced its shares, which, according to data compiled by S&P Global Market Intelligence, ended the week more than 11% higher in price. On Sunday, The Wall Street Journal broke the news that Bank of New York Mellon (NYSE: BK) indicated to Northern Trust that it desired a merger with the smaller banking group. This quickly made its way to the highest levels of management, as according to unnamed "people familiar with the matter," the CEOs of the two companies had at least one conversation on a potential deal. The newspaper's sources said the discussions didn't advance to talks of a specific offer. At the time, it reported that Mellon is mulling its next move. This might indeed result in a formal offer being made. While the Journal used the word "merger" in writing about a potential deal, in all likelihood, any sort of arrangement would be more of an acquisition by Mellon. Given that, it won't be a cheap purchase. Northern Trust's market cap is over $24 billion, which would mean a hefty price tag, even at a modest premium. Neither Northern Trust nor Mellon has yet publicly commented on the report, and I wouldn't expect them to if talks are indeed at an early stage. I'd imagine any premium paid will be somewhat generous, given Mellon's apparent eagerness to bulk up with an already-sizable asset. This story is well worth monitoring for shareholders of both banks. Before you buy stock in Northern Trust, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Northern Trust wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $704,676!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $950,198!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 175% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Northern Trust Stock Zoomed 11% Higher This Week was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Business
- Yahoo
Suno snaps up WavTool for its AI music editing tools amid ongoing dispute with music labels
Suno, the AI music company currently in a legal battle with music labels, announced on Thursday the acquisition of WavTool, a browser-based AI digital audio workstation (DAW). This acquisition aims to improve Suno's editing capabilities for songwriters and producers. WavTool, launched in 2023, offers several tools to musicians, such as stem separation, AI audio generation, and an AI music assistant. Suno will integrate WavTool's technology into its new editing interface, which launched this month. The terms of the deal have not been disclosed. A company spokesperson noted that 'most' of the WavTool employees moved to Suno's product and engineering teams, although the exact number of those who did not make the move wasn't revealed. The acquisition comes on the heels of yet another lawsuit against the company. Country musician Tony Justice and his music label, 5th Wheel Records, filed a lawsuit against Suno earlier this month, alleging that Suno used copyrighted sound recordings to train its AI music generator. This allegation is similar to lawsuits filed last year by Universal Music Group, Warner Music Group, and Sony Music Entertainment against Suno for copyright infringement. According to Bloomberg, the major music labels are in licensing talks with Suno. Suno acquired WavTool a few months ago, with the browser-based DAW going offline in November. Timing the announcement for this week seems intentional, possibly aimed at diverting attention from the lawsuit. Legal disputes often shake investor confidence, so the announcement of this acquisition may serve as a way to reassure them that the company remains committed to growth. The AI startup secured $125 million in funding this past May. Inicia sesión para acceder a tu portafolio
CTV News
7 hours ago
- Business
- CTV News
Connecticut company to acquire EVRAZ‘s North American operations, including Regina's steel plant
Greenwich, Conn. based Atlas Holdings has announced it will acquire all of EVRAZ's North American operations, which includes the steel plant in Regina. In a news release on Friday, the company says it anticipates the deal to close in the second half of 2025. In August 2022, Evraz North America was put up for sale following a period of uncertainty over sanctions resulting from the Russian invasion of Ukraine earlier that year. Along with Regina, EVRAZ has North American facilities in Colorado, Oregon, and Alberta. Across North America, EVRAZ employs 3,400 people, according to Atlas Holdings. In the release, Atlas partner Sam Astor said the company's goal is to invest in industrial businesses for the long term and provide capital and leadership expertise to grow companies and ensure success. 'Despite the global dynamics of the steel market and unique challenges facing the business, the EVRAZ team has continued to drive the business forward and we want to thank them for their hard work and dedication. This a major investment in creating a more vibrant domestic steel production industry right here in the United States and Canada,' Astor said in the release. Atlas Holdings was founded in 2002 and along with its affiliates, owns and operates 27 companies that employ more than 57,000 people across 350 facilities worldwide, the release said. James 'Skip' Herald, president and CEO of EVRAZ North America said the acquisition will be an exciting new chapter for EVRAZ North America, adding it brings long-term opportunity for employees, customers and the communities facilities operate in. 'Atlas shares our belief that a strong future starts with investing in the people who make it happen. Their strategic approach and track record of operational investment make them the right partner for our next chapter. With their support, we will be able to accelerate innovation, strengthen our operations, and continue delivering the high-quality steel our customers have relied on since 1881,' Herald said in the release. In May 2022, about three months after the Russian invasion of Ukraine began, EVRAZ plc, the ultimate parent of EVRAZ North America, was sanctioned by the United Kingdom. The sanctions barred United Kingdom citizens and businesses from doing business with the Russian owned steel manufacturer. Shortly after, Atlas says the UK HM Treasury's Office of Financial Sanctions Implementation issued a general licence that allowed EVRAZ North America to continue business operations fully. The Russian steelmaker completed its acquisition of IPSCO Inc.'s plate and pipe business in Canada in June 2008 for approximately USD$2.9 billion, that included the steel plant in Regina. On Friday, United Steelworkers Regina (USW 5890) shared a letter that Herald sent to EVRAZ North America employees. In the letter Herald expressed his confidence of Atlas, adding that employees would be hearing from them 'very soon.' The letter also indicated that Atlas representatives would begin visiting North American sites over the next few weeks. 'As we move through the transition, your well-being, success and continued development remain our highest priorities. Together, we'll continue to build a culture rooted in safety, collaboration, and respect, driving progress for EVRAZ North America and the North American Steel industry as a whole,' the letter reads.
National Post
8 hours ago
- Business
- National Post
Altimetrik and SLK Software Join Forces to Create an AI-First Engineering Services Powerhouse
Article content DETROIT — Altimetrik, a pure-play AI, Data and Digital engineering solutions company, today announced the signing of a definitive agreement to acquire SLK Software ('SLK'), a global technology services firm focused on delivering AI, intelligence automation and analytics solutions. The acquisition will further strengthen Altimetrik's end-to-end enablement services and expand its customer reach, with a clear path to accelerate towards Altimetrik's goal of reaching $1billion in annual revenue. The transaction remains subject to customary closing conditions and is expected to close in the second half of 2025. Financial details were not disclosed. Article content Founded in 2000, SLK is recognized as a leader in the tech industry, and for its commitment to create innovative digital solutions. This strategic acquisition will significantly enhance the scale of Altimetrik's capabilities, bringing together Altimetrik's AI-first, platform-native engineering model and SLK's full technology services stack that will further accelerate the journey towards modernizing enterprise platforms for its customers. Article content Article content Altimetrik is among the most evolved digital services providers with advanced data and digital engineering capabilities, a bite sized approach that creates high ROI client outcomes and exceptional track record of data and AI led deployments. Altimetrik will additionally leverage SLK's deep customer relationships, global operational footprint and complementary leadership talent to further deliver innovation-led value creation for customers. Article content 'In today's world, AI, and especially Generative AI and Machine Learning, is the engine that is driving true business value,' said Raj Sundaresan, CEO of Altimetrik. 'To enable an AI-First business a robust data cloud infrastructure that is grounded in product and platform engineering rigor is crucial. Our investment in SLK reflects our intention to deepen our commitment to customers who are looking for digital, AI-driven solutions that enable business value creation at unparalleled speed and scale. We are incredibly excited and look forward to welcoming SLK Software to the Altimetrik family.' Article content 'This is not a traditional integration. It is a strategic acceleration,' said Parth Amin, Founder & Chairman of SLK Software. 'In Altimetrik, we've found a partner who shares our values of customer intimacy, people centricity, and a passion for innovation and agility. Together we will unlock greater capabilities for our clients while preserving the speed and responsiveness they trust us for.' Article content Upon the closing of the transaction, the combined entity will serve a global customer base of over 150 businesses that include Fortune 500 companies and some of the most innovative tech enterprises. It will also enable a partnership network that includes era-defining pioneers such as OpenAI, Amazon Web Services, Snowflake, and Databricks. Together, the business will employ over 10,000 professionals around the world to support customers who are in their digital transformation journey and are looking for innovative solutions to modernize legacy systems through leveraging data and AI, while ensuring world-class governance, compliance, and platform security. This includes organizations across diverse industries, from Financial Services & Payments to Pharma and Lifesciences, to Technology and Manufacturing. Article content 'Altimetrik and SLK coming together is a strategic leap for the industry,' said Puneet Bhatia, Co-Managing Partner and Country Head, India of TPG Capital Asia and Board Member at Altimetrik. 'This combination creates an AI-first digital engineering platform with the scale, leadership, and execution muscle to deliver meaningful outcomes across industries. With TPG's track record and experience in supporting enterprise tech businesses, we are proud to be able to support this next phase of growth and value creation.' Article content 'This acquisition underscores TPG's investment thesis in technology services, which is indexed on backing strategic technology providers that are leading the data and AI transformation journey for customers, with differentiated business, pricing and delivery models,' said Vivek Mohan, Business Unit Partner at TPG Capital Asia and Board Member at Altimetrik. Article content Highlighting the breadth and depth of the combined business, Raj Vattikuti, Board Member and Founder of Altimetrik said, 'Beyond combining capabilities, bringing together the two businesses is about scaling what we do best: solving real business problems with precision and speed. With SLK, we are expanding our ability to bring industry context, simplify complexity, and deliver AI-native transformation.' Article content Ajay Kumar, CEO of SLK Software added, 'SLK's customer-first approach has led to building offerings powered by AI to deliver outstanding results for our clients. As a combined entity, SLK and Altimetrik are now set to unlock exceptional value and drive measurable impact at scale for our clients.' Article content Avendus Capital acted as the exclusive financial advisor to SLK Software. EY acted as the exclusive financial advisor to Altimetrik and TPG. Article content About Altimetrik Article content Altimetrik is a pure-play AI, Data, and Digital business services company. We focus on delivering business outcomes with an incremental, product-oriented approach. Our industry-first, proven digital business methodology provides a blueprint to develop, scale, and launch new products to market faster. Our team of 6,000+ practitioners with software, data, and cloud skills builds an agile engineering culture of collaboration and innovation that modernizes technology and builds new business models in bite-sized increments. As a strategic partner and catalyst, Altimetrik quickly delivers results without disruption. Recognized as a Major Contender in Everest Group's BFSI IT Services Specialists PEAK Matrix® Assessment 2025 and a Product Challenger in ISG Provider Lens™ 2024 for Advanced Analytics and AI Services, Altimetrik continues to lead the way in delivering cutting-edge digital transformation. Learn more at Article content About SLK Software Article content SLK Software is a global technology services provider focused on bringing AI, intelligent automation, and analytics together to create leading-edge technology solutions for our customers through a culture of partnership with them, led by an evolutionary mindset. For 25 years, we have helped organizations across diverse industries — insurance providers, financial service organizations, investment management companies, and manufacturers — reimagine their business and solve their present and future needs. Certified as a Great Place To Work®, we encourage an approach of constructively challenging the status quo in all that we do to enable peak business performance for our customers and for ourselves, through disruptive technologies, applied innovation, and purposeful automation. Find out how we help leading organizations reimagine their business at Article content Article content Article content Article content Contacts Article content Media Contacts: Article content Altimetrik Gurvinder Singh Sahni GSahni@ Article content Article content Article content
