News Corp [NWSA] - Last Close: $17.60 A favorable court decision is boosting shares of News Corp today. Yesterday, a federal judge ruled that Dominion Voting Systems couldn't bring up Jan. 6th in its defamation lawsuit against News Corp's Fox News. Delaware Superior Court Judge Eric Davis made the ruling on Tuesday in a pretrial motion. The case is expected to go to trial next week, and Dominion is seeking $1.6 billion in restitution. NWSA is up 3.0% this morning, making it the top S&P 500 stock in today's premarket. My Take: Favorable ruling for NWSA, but I don't think it changes the big picture for investors. Triton Intl. [TRTN] - Last Close: $63.01 Triton International just made a merger announcement that's rallying its shares. The shipping supplier has agreed to be acquired by Brookfield Infrastructure Partners [BIP] in a cash-and-stock deal valuing the company at $4.7 billion. The deal reflects a $13.3 billion enterprise value, and shareholders will receive $85 per share consisting of $68.50 in cash and $16.50 in class A shares of BIP. The companies expect to close the deal in Q4, pending customary conditions, and Triton will become a private, unlisted company upon closing. However, the company says it plans to maintain its quarterly dividend on its shares prior to closing the deal. The news sent TRTN to a 30.8% gain in today's premarket, and it's one of this morning's hottest small-cap stocks. My Take: There's no real upside potential left in this trade, but there could be plenty of downside if the deal falls through. Avoid TRTN at this point. Tessco Technologies [TESS] - Last Close: $4.70 Shares of Tessco are rallying on breaking news of a merger deal. The telecom manufacturer has entered into a $161.4 million definitive merger deal with entities affiliated with Alliance Corp. and Twin Point Capital. Under the terms of the agreement, TESS shareholders will receive $9.00 in cash for their holdings, a premium of 91.4% from its Tuesday closing price. The merger was unanimously approved by Tessco's board, and it's expected to close in the third quarter of 2023. TESS jumped 85.3% on the merger announcement, and it's one of this morning's top premarket performers. My Take: As is usually the case with M&A rallies, most of the premium is already priced into this stock. If you're not already in position, you should probably let this one go. HeartCore Enterprises [HTCR] - Last Close: $0.8801 HeartCore Enterprises is moving higher after landing a new deal. The SaaS company landed a "Go IPO" contract with rYojbaba Inc. for what is being called its 10th "Go IPO" consulting service win. Under the terms of the deal, HeartCore will assist rYojbaba with going public and listing on the Nasdaq exchange. HeartCore expects to generate $500,000 in initial fees, plus a warrant to acquire 3% of rYojbaba's common stock on a fully diluted basis. HTCR is this morning's top stock with a 129.5% gain on active premarket trading volume. My Take: It sounds like this deal could turn into more windfalls for HTCR. The last one it landed generated $4.1 million. There could be more gains ahead for this stock if this deal has a similar result. GainersAltimira Therapeutics [CYTO] >> +71.9Panbela Therapeutics [PBLA] >> +52.9%Liquid Media [YVR] >> +47.7%DeclinersAeglea Bio [AGLE] >> (23.8%)PLx Pharma [PLXP] >> (27.8%)Brenmiller Energy [BNRG] >> (17.8%) Apogee Enterprises, Inc. [APOG] ... AM Semileds Corporation [LEDS] ... AM Argan, Inc. [AGX] ... PM Sportsman'S Warehouse Holdings, Inc. [SPWH] ... PM Pure Cycle Corporation [PCYO] ... PM Rent The Runway, Inc. [RENT] ... PM |