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Know Labs Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNW#NASDAQ">KNW</a>) shares soared Friday afternoon after the company announced it will be acquired by Goldeneye 1995 LLC, an entity led by fintech investor and former Ripple Chief Risk Officer Greg Kidd. The stock closed on Friday up 206.97% at $1.56 a share.
What To Know: Goldeneye will acquire a controlling stake in Know Labs through a combination of 1,000 Bitcoin and cash to retire debt and fund operations, valuing shares at $0.335. The deal, expected to close in third-quarter 2025, will install Kidd as CEO and chairman.
Read Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45821970/hive-digital-technologies-stock-jumps-10-on-bitcoin-mining-milestone">HIVE Digital Technologies Stock Jumps 10% On Bitcoin Mining Milestone</a>
A major component of the strategy is the use of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a treasury asset, giving Know Labs significant exposure to digital assets. Management will use a multiple of net asset value metric to evaluate market valuation against Bitcoin holdings, which are expected to make up 82% of the company's market cap, assuming BTC is priced at $105,000.
"This Bitcoin treasury strategy is a forward-looking move to drive sustainable growth," said Kidd.
Company founder Ron Erickson will lead a new division focused on non-invasive diagnostics research and serve as Vice Chairman. The transaction was unanimously approved by Know Labs&#8217; board.
Read Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45818020/nio-stock-volatile-after-mixed-q1-earnings-cost-cuts-and-global-expansion-in-focus">NIO Stock Volatile After Mixed Q1 Earnings, Cost Cuts And Global Expansion In Focus</a>
<h1 class="wp-block-heading">How To Buy KNW Stock</h1>
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, Know Labs is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, KNW has a 52-week high of $4.20 and a 52-week low of $0.33.
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$BTC

Know Labs (KNW) Stock Soars Over 200% On Acquisition Deal, Bitcoin Strategy

Orla Mining (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ORLA#AMEX">ORLA</a>) has outperformed the market over the past 5 years by 22.31% on an annualized basis producing an average annual return of 35.63%. Currently, Orla Mining has a market capitalization of $3.59 billion. 
Buying $1000 In ORLA: If an investor had bought $1000 of ORLA stock 5 years ago, it would be worth $4,630.11 today based on a price of $11.05 for ORLA at the time of writing.
<h3>Orla Mining's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1749240178_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

ORLA

If You Invested $1000 In This Stock 5 Years Ago, You Would Have This Much Today

Luis Raganato Appointed Chief Executive Officer
Marcelo Rabach to Remain a member of the Board of Directors
Arcos Dorados Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) ("Arcos Dorados" or the "Company"), Latin America's largest restaurant chain and the world's largest independent McDonald's franchisee, today announced its Board of Directors has appointed Luis Raganato as Arcos Dorados' new Chief Executive Officer, effective July 1, 2025. Mr. Raganato succeeds Marcelo Rabach, who decided to step down from the CEO position but will remain a member of the Company's Board of Directors.

Management

ARCO

Arcos Dorados Has Appointed Luis Raganato As New Chief Executive Officer, Effective July 1, 2025

Nuveen Insured California Premium Fund Ii

Northann Says It Is Not Aware Of Any New Material Developments Or Pending Announcements Concerning Its Business Operations That May Be Contributing To The Recent Volatile Market Activity In The Trading Of Its Common Stock

In the current session, the stock is trading at $326.76, after a 0.16% spike. Over the past month, Automatic Data Processing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) stock increased by 6.29%, and in the past year, by 32.49%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2025/1749240070_0.png" alt="Past Year Chart" />

<h3>Automatic Data Processing P/E Ratio Analysis in Relation to Industry Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Compared to the aggregate P/E ratio of the 52.32 in the Professional Services industry, Automatic Data Processing Inc. has a lower P/E ratio of 33.36. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2025/1749240070_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

Markets

A Look Into Automatic Data Processing Inc's Price Over Earnings

PENN Entertainment's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NYSE">PENN</a>) short percent of float has risen 3.64% since its last report. The company recently reported that it has 19.46 million shares sold short, which is 13.1% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.83 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>PENN Entertainment Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1749240029_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for PENN Entertainment has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing PENN Entertainment's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, PENN Entertainment's peer group average for short interest as a percentage of float is 5.06%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

PENN

Is the Market Bullish or Bearish on PENN Entertainment?

Prosperity Bancshares's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PB#NYSE">PB</a>) short percent of float has risen 6.32% since its last report. The company recently reported that it has 2.20 million shares sold short, which is 2.69% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.38 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Prosperity Bancshares Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1749240023_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Prosperity Bancshares has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Prosperity Bancshares's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Prosperity Bancshares's peer group average for short interest as a percentage of float is 4.18%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Prosperity Bancshares?

JM Smucker's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) short percent of float has risen 7.72% since its last report. The company recently reported that it has 5.51 million shares sold short, which is 6.14% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.3 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>JM Smucker Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1749240018_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for JM Smucker has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing JM Smucker's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, JM Smucker's peer group average for short interest as a percentage of float is 6.22%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Is the Market Bullish or Bearish on JM Smucker?

WIIM

AMPX

ARRY

BlackSky Technology Inc. Class A Common Stock

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INOD

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XMTR

Shares of companies within the broader industrial sector are trading higher, supported by broad market strength, after better-than-expected nonfarm payrolls data eased concerns about an imminent economic slowdown.

AMAT

APPS

ARQQ

BLBX

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Shares of companies within the broader technology sector are trading higher, supported by broad market strength, after better-than-expected nonfarm payrolls data eased concerns about an imminent economic slowdown.

ACDC

BROG

TRGP

Shares of energy companies are trading higher following a favorable U.S. jobs report and renewed trade talks between President Trump and Chinese leader Xi Jinping, boosting hopes for economic growth in the world's two largest economies.

<a href="https://x.com/EricTrump/status/1931075264936550480" title="https://x.com/EricTrump/status/1931075264936550480">https://x.com/EricTrump/status/1931075264936550480</a>

$TRUMP

Eric Trump Posts On X "Breaking News: I am proud to announce the $TRUMP Meme Coin has aligned with @WorldLibertyFi. Although their meme wallet isn't moving forward, they remain focused on building the most exciting MEME on earth - $Trump. Moreover, we're proud to announce that World Liberty Financial plans to acquire a substantial position in $TRUMP for their Long-Term Treasury. ..."

In any other circumstances, Cisco Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) ordinarily wouldn't trigger intense intrigue. While Cisco's digital communications business — which includes a comprehensive suite of cybersecurity products and services — is incredibly relevant, it's not the most headline-friendly endeavor. That changed earlier this week and it may positively affect the forward trajectory of CSCO stock.
On Tuesday, Victoria's Secret (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) reported a <a href="https://www.benzinga.com/etfs/sector-etfs/25/06/45756325/why-victorias-secrets-breach-is-a-wake-up-call-for-cybersecurity-etf-investors">cybersecurity breach</a>, which forced the company to shut its website down for three days in late May. At the time, the fashion industry didn't raise much fuss about the matter but for stakeholders, the breach presents a major concern. It's the latest, high-profile example of an increasing wave of corporate cyberattacks that are dragging sales, reputations and even entire business models.
On the other hand, the somewhat cynical — but ultimately pragmatic — response is to consider cybersecurity-focused investments such as CSCO stock. Fundamentally, companies in the space stand to benefit from an expanding total addressable market. Per Statista, the U.S. government has <a href="https://www.statista.com/statistics/675399/us-government-spending-cyber-security/">allocated</a> almost $13 billion of budgetary spending on cybersecurity, a 10% bump from last fiscal year. It's a clear sign that cybersecurity is a necessity, not a luxury.
The catalyst of need harkens back to an argument that Ritholtz Wealth Management's Josh Brown made earlier this year. IN the first few months of 2025, the <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/03/44501515/cybersecurity-stocks-to-outperform-its-the-one-line-item-that-no-company-in-the-world-is-cutting-josh-brown">cybersecurity sector was outperforming</a> the broader tech index. Brown gave a blunt assessment for the superior returns.
"This is the one line item that no company in the world is cutting. I don't give a sh-t how bad the recession gets. This is out-of-business risk," Brown said Tuesday on an&nbsp;<a href="https://www.youtube.com/watch?v=OZomfI76veg&amp;tblci=GiBHQ5jGSz2tTIA8W0d9W_RJMHgkmUPdKPzylaI48Ac4RiCN1Vcomc3V5NGfyeiJATDviEo" target="_blank" rel="noreferrer noopener">episode</a>&nbsp;of The Compound's "What Are Your Thoughts?"
Essentially, the Victoria's Secret breach reminded investors why cybersecurity matters and CSCO stock is tagging along for the ride.
<h2 class="wp-block-heading">Statistical Argument Shines A Bright Spotlight On CSCO Stock</h2>
Although the underlying narrative of CSCO stock implies forward progress, storylines and even price action are not the most reliable predictors of equity performance. That's because the traditional approaches of fundamental and technical analysis — though they have their utility in certain contexts — suffer from the non-stationarity problem.
Essentially, metrics such as earnings per share or share price tend to drift or fluctuate, especially with long passages of time or shifts in sentiment regimes. In addition, administrative factors such as dilution and buybacks can distort the meaning of the metrics that are being used for comparison. At the end of the day, it's difficult to make apples-to-apples comparisons over time and context.
On the flipside, market breadth — which basically boils down to studying patterns of accumulation and distribution — is a discrete state or concept. Market breadth is a representation of demand and demand is binary. It's either happening or it's not. Binary events can be easily categorized and quantified, therefore facilitating projectability.
In statistical language, market breadth features stationarity: the core statistical property of market demand does not evolve over time. What does evolve are the patterns of demand — and these patterns can be analyzed to better determine probabilistic frameworks.
For CSCO stock, the security is currently printing a "6-4-U" sequence: six up weeks, four down weeks, with a net positive trajectory across the 10-week period. Over the past decade, in 56.76% of cases, the following week's price action results in upside, with a median return of 1.53%.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06145953/CSCO-stock-10wk-forecast-1024x576.jpg" alt="" class="wp-image-941768" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06145953/CSCO-stock-10wk-forecast-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06145953/CSCO-stock-10wk-forecast-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06145953/CSCO-stock-10wk-forecast-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06145953/CSCO-stock-10wk-forecast.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>
Assuming that this week closes at $66, CSCO is on track to reach $67 in short order, perhaps in a week or two. If the bulls maintain control of the market, it's not inconceivable that the optimists will attempt to push the price toward the $67 level.
<h2 class="wp-block-heading">Setting Up A Tempting Call Spread On Cisco</h2>
For traders willing to roll the dice on the above statistical framework, the 66/67 bull call spread expiring June 27 is particularly tempting. This transaction involves buying the $66 call and simultaneously selling the $67 call, for a net debit paid of $52. Should CSCO stock rise through the short strike price at expiration, the maximum reward is $48, a payout of over 92%.
Notably, the high payout suggests that market makers believe the upswing in CSCO is a fluke, which isn't an unreasonable assessment. As a baseline, the chance that a long position in the security will be profitable over any given week is 53.12%. That's an upward bias but a modest one. What makes the 6-4-U sequence appealing is the implied sentiment shift. Here, the bulls receive nearly 4 percentage points of free odds in their favor.
To be clear, the chance of downside is still high at over 43%. Nevertheless, in blackjack terms, the deck is warm, which in this case incentivizes a bullish debit-based strategy.
The opinions and views expressed in this content are those of the individual author and do not necessarily reflect the views of Benzinga. Benzinga is not responsible for the accuracy or reliability of any information provided herein. This content is for informational purposes only and should not be misconstrued as investment advice or a recommendation to buy or sell any security. Readers are asked not to rely on the opinions or information herein, and encouraged to do their own due diligence before making investing decisions.
Read Next:
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</ul>
Photo: Shutterstock

Equities

Long Ideas

Options

VSCO

Options Corner: Why Cisco Could Be The Silent Winner Of The Cybersecurity Surge

Defiance ETFs has launched the PLTZ ETF, the <a href="https://www.benzinga.com/etfs">first leveraged inverse fund</a> to focus on Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), providing short sellers with a new means to double down, literally, on short-term dips in the contentious software company. 
The Defiance Daily Target 2X Short PLTR ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTZ#NASDAQ">PLTZ</a>) aims for daily returns that are -200% the price movement of Palantir&#8217;s stock. The introduction adds fuel to the increasing single-stock ETF craze, but with a twist: rather than following trends, PLTZ is about shorting them.
Also Read:<a href="https://www.benzinga.com/etfs/new-etfs/25/06/45819073/seeking-income-and-stability-neoss-gold-high-income-etf-may-be-your-answer"> Seeking Income And Stability? NEOS&#8217;s Gold High Income ETF May Be Your Answer</a>
This is at a particularly charged moment for Palantir. The New York Times reported last week that the company was commissioned by the Trump administration to gather information on Americans in the wake of a March executive order encouraging inter-agency data sharing. 
Despite <a href="https://www.benzinga.com/markets/tech/25/06/45800099/palantir-ceo-alex-karp-refutes-ridiculous-surveillance-reports-says-company-is-winning">Palantir CEO Alex Karp labeling the report &#8220;ridiculous&#8221;</a> and technically unsound on CNBC, the political firestorm surrounding the company has reignited again, possibly making PLTZ more attractive to short-term traders sensing smoke.
Karp wasn&#8217;t shy, telling CNBC&#8217;s Squawk on the Street that if someone &#8220;wanted to use the Deep State to unlawfully surveil people, the last platform in the world you would pick is Palantir,&#8221; and asserted even a low-level engineer could discredit the NYT article in less than two minutes.
Meanwhile, <a href="https://www.benzinga.com/news/contracts/25/05/45702431/palantir-stock-gains-as-trump-expands-companys-role-in-us-government-agencies">Palantir has inked fresh deals</a> with the Department of Homeland Security and the Pentagon, and is reportedly in talks with other powerful U.S. agencies including the IRS and the Social Security Administration. Whether that's a testament to the company's dominance, or a red flag for data centralization, may depend on which side of the Palantir trade you're on.
For tactical traders who are active, <a href="https://www.globenewswire.com/news-release/2025/06/06/3094873/0/en/Defiance-Launches-PLTZ-The-First-2X-Short-ETF-for-Palantir-Technologies-Inc.html">PLTZ </a>provides an option to be bearish on Palantir stock without tampering with margin calls or struggling with exotic options. But as with any levered ETF, particularly a short one, timing is everything, and risk appetite must be greater than Karp&#8217;s blood pressure after the interview.
Read Next: 
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Photo: Spyro the Dragon/Shutterstock

New ETFs

ETFs

PLTR

PLTZ

Defiance's New PLTZ ETF Lets You Double Down On A Drop in Palantir Stock

CNCK

DAVE

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HIPO

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IBKR

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UPST

Shares of financial companies are trading higher, supported by broad market strength, after better-than-expected nonfarm payrolls data eased concerns about an imminent economic slowdown.

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JOBY

Shares of electric air taxi companies are trading higher after the White House announced that President Trump signed an executive order to advance electric air taxis and enable expanded drone operations.

<h3 class="wp-block-heading">New On The Block</h3>
Byron Allen's Allen Media Group has hired Moelis &amp; Company to explore a sale of its TV stations across 21 markets. The company spent over $1 billion acquiring Big Four network affiliates (ABC, NBC, CBS, FOX) over the past six years. 
It is now looking to cash out and reduce debt. Deadline <a href="https://deadline.com/2025/06/allen-media-group-hires-investment-bank-to-sell-tv-stations-1236420381/">reported</a> that the TV stations have received multiple offers. 
Also for sale: 
<ul class="wp-block-list">
<li>Jefferies is shopping around PatientPoint, a health marketing and ad agency, according <a href="https://www.axios.com/pro/health-tech-deals/2025/06/04/patientpoint-jefferies-sale">to</a> Axios. L Catterton, Littlejohn &amp; Co. and Transformation Capital are on the sell side. </li>
<li>Just three years ago, private equity firm One Equity Partners <a href="https://www.oneequity.com/news/one-equity-partners-completes-investment-in-infucare-rx-a-leading-home-infusion-therapy-provider/">completed</a> a strategic investment in infusion provider InfuCare. Today? It&#8217;s looking to get rid of it. According to Axios, JPMorgan is <a href="https://www.axios.com/pro/health-tech-deals/2025/06/03/infucare-one-equity-jpmorgan-sale">looking</a> for a buyer. </li>
<li>Swiss biotech MoonLake Immunotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLTX#NASDAQ">MLTX</a>) received a <a href="https://www.benzinga.com/news/health-care/25/06/45743008/mercks-dealmaking-intensifies-with-moonlake-bid-as-keytruda-patent-cliff-nears-report">bid exceeding $3 billion</a> from Merck &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>). MoonLake turned down the initial offer, but talks are reportedly revived. The potential purchase signals renewed dealmaking activity as investor pressure has mounted on Merck to secure new assets, especially as its blockbuster <a href="https://www.benzinga.com/general/health-care" target="_blank" rel="noreferrer noopener">cancer drug Keytruda</a> faces patent expiration as early as 2028.</li>
</ul>
<h3 class="wp-block-heading">Updates From The Block</h3>
<ul class="wp-block-list">
<li>Post Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POST#NYSE">POST</a>) is forking over $880 million—including assumed debt—to buy 8th Avenue Food &amp; Provisions. That means brands like Ronzoni pasta will go back into Post&#8217;s pantry. <a href="https://www.wsj.com/articles/post-holdings-to-buy-ronzoni-pasta-owner-8th-avenue-food-cf8f454c?mod=deals_news_article_pos2">Per</a> The Wall Street Journal, the private-label brands originally got spun off into 8th Avenue in 2018 with help from private equity firm THL. Post plans to wipe out 8th Avenue's net debt and pick up the tab for all equity interests, including $111 million in finance leases. All in, the transaction is expected to cook up $15 million in annual synergies by the end of fiscal 2026. If Post closes by July 1, it expects 2026 to be more profitable (on an adjusted basis) than initially expected.</li>
</ul>
<ul class="wp-block-list">
<li>Rosebank Industries (LON: ROSE) is once again in talks to buy Electrical Components International (ECI), a wire harnesses manufacturer, for about $1.9 billion, Reuters reported. Rosebank was in talks to buy ECI in February but dropped the plans in March.</li>
</ul>
<ul class="wp-block-list">
<li>Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) agreed to acquire Blueprint Medicines Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>). The acquisition includes a rare immunology disease medicine, Ayvakit/Ayvakyt (avapritinib), approved in the U.S. and the EU. The acquisition will also include elenestinib, a next-generation medicine for SM, and BLU-808, a highly selective and potent oral wild-type KIT inhibitor with the potential for immunology diseases. Sanofi will pay&nbsp;$129&nbsp;per share in cash, representing an equity value <a href="https://www.benzinga.com/news/health-care/25/06/45719179/sanofi-expands-rare-immunology-portfolio-with-blueprint-buyout">of roughly&nbsp;$9.1 billion</a>.</li>
</ul>
<ul class="wp-block-list">
<li>Suzano S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUZ#NYSE">SUZ</a>) is acquiring a 51% stake in a new $3.4 billion tissue products joint venture with Kimberly-Clark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NASDAQ">KMB</a>), <a href="https://www.benzinga.com/m-a/25/06/45797473/tissue-titans-unite-suzano-kimberly-clark-form-3-4-billion-global-jv">paying $1.734 billion in cash</a>. Kimberly-Clark will retain a 49% stake. The Netherlands-based venture will produce and distribute toilet paper and facial tissues in 70 countries, with 22 factories across 14 countries, employing about 9,000 people. The facilities have an annual capacity of 1 million tonnes and generated $3.3 billion in net sales in 2024.</li>
</ul>
<h3 class="wp-block-heading">Off The Block</h3>
<ul class="wp-block-list">
<li>Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45740112/robinhood-completes-200-million-bitstamp-deal-gains-access-to-500k-crypto-users-and-95-million-revenue-stream">completed its $200 million acquisition</a> of Bitstamp, a crypto exchange that had raised around $40 million from firms like Pantera Capital and Ripple.</li>
</ul>
<ul class="wp-block-list">
<li>Cactus Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>) <a href="https://www.benzinga.com/m-a/25/06/45724879/cactus-takes-majority-stake-in-baker-hughes-spc-for-global-reach">formed a joint venture</a> with Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), taking a 65% stake and operational control of Baker Hughes&#8217; Surface Pressure Control (SPC) business. Baker Hughes will retain a 35% stake. The new venture, separate from Cactus' current pressure control unit, will focus on international wellhead and production tree systems.</li>
</ul>
<ul class="wp-block-list">
<li>Guardian Pharmacy Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRDN#NYSE">GRDN</a>) is <a href="https://www.benzinga.com/pressreleases/25/06/b45719054/guardian-pharmacy-services-expands-pacific-northwest-footprint-with-acquisition-of-washington-base" target="_blank" rel="noreferrer noopener">entering the Pacific Northwest market</a> via acquisition. Mercury Pharmacy Services, a provider of long-term care pharmacy solutions, agreed to a price, but <a href="https://www.benzinga.com/m-a/25/06/45723960/guardian-pharmacy-strengthens-us-footprint-with-new-seattle-area-acquisition">the amount remains undisclosed</a>.</li>
</ul>
<h3 class="wp-block-heading">Bankruptcy Block</h3>
<ul class="wp-block-list">
<li>AI startup Builder.ai has filed for Chapter 7 bankruptcy in Delaware after creditors seized most of its cash, citing overstated 2024 sales projections—by a staggering 300%. Once valued at $1.5 billion, Builder.ai is now the biggest AI collapse since the ChatGPT-driven investment boom began. According <a href="https://www.bloomberg.com/news/articles/2025-06-05/builder-ai-files-for-bankruptcy-after-creditors-seize-accounts?sref=TBDibEcD">to</a> Bloomberg, the fallout was fueled by revelations that Builder.ai allegedly faked business with Indian social media firm VerSe Innovation to inflate revenues. VerSe co-founder Umang Bedi denies any wrongdoing, calling the claims "baseless and false."</li>
</ul>
<ul class="wp-block-list">
<li>Hooters closed some 30 corporate-owned restaurants and explained that it has <a href="https://www.businesswire.com/news/home/20250331979797/en/Hooters-of-America-Takes-Strategic-Action-to-Continue-its-Iconic-Legacy-Under-Pure-Franchise-Business-Model" target="_blank" rel="noreferrer noopener">no plans </a>to shut down any other locations. The Atlanta, Georgia-based restaurant chain went <a href="https://www.benzinga.com/personal-finance/25/04/44647084/hooters-files-for-bankruptcy-says-brand-isnt-going-anywhere">bankrupt earlier this year</a>.</li>
</ul>
<ul class="wp-block-list">
<li>Alex Jones may see his personal assets — including guns, cars, and homes — sold by the end of the year, according to the Houston Chronicle, <a href="https://www.houstonchronicle.com/news/houston-texas/texas/article/alex-jones-personal-assets-sales-bankruptcy-20361565.php">citing</a> a bankruptcy trustee. The potential sale would mark the nearing end of his two-and-a-half-year bankruptcy process. Jones, who created the far-right conspiracy theory website Infowars, filed for bankruptcy in 2022 after being ordered to pay nearly $1.5 billion to families of Sandy Hook shooting victims for defamation.</li>
</ul>
<h3 class="wp-block-heading">Notes From The Block</h3>
A studio's IP portfolio and game development pipeline are critical for video game investors. A major acquirer in the sector is GDEV Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDEV#NASDAQ">GDEV</a>). The Cyprus-based company has made three M&amp;A deals and spent $100 million on studio acquisitions since 2022. 
This week, Andrey Fadeev drafted <a href="https://www.benzinga.com/m-a/25/06/45722621/gdevs-founder-ceo-evaluates-m-a-deals-using-these-5-metrics">a listicle of key metrics</a> GDEV uses for M&amp;A evaluation.
<ol class="wp-block-list">
<li>LTV/CAC Ratio – Measures how efficiently a studio converts user acquisition spend into revenue. A ratio above 1.0 indicates profitable user growth.</li>
<li>Retention Rates (D1, D7, D30) – Track user engagement over time. High retention signals strong gameplay and monetization potential. Benchmarks vary by genre.</li>
<li>ARPU/ARPPU – Indicate monetization efficiency. ARPU includes all users; ARPPU focuses on paying users. Higher ARPU justifies higher CAC.</li>
<li>DAU/MAU Ratio – Shows user engagement depth. A ratio above 20% is considered strong.</li>
<li>EBITDA – Reflects core operational profitability and financial health. High EBITDA margins show sustainable growth and efficiency.</li>
</ol>
In 2024, video game M&amp;A activity reached $27.3 billion, underscoring the sector's immense growth and investment appeal. C-suite executives would be wise to consider these metrics when searching for their next target. 
<a href="https://www.benzinga.com/markets/asset-sales/25/05/45702349/deal-dispatch-beauty-brand-behavioral-health-firms-hit-auction-block">For last week&#8217;s edition of Deal Dispatch, click here</a>.
Now Read:
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<li><a href="https://www.benzinga.com/m-a/25/06/45816311/conagra-sells-seafood-brands-for-55m-as-it-sharpens-focus-on-core-business">Conagra Sells Seafood Brands For $55M As It Sharpens Focus On Core Business</a></li>
</ul>
Image created using a photo from Shutterstock.

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Deal Dispatch: TV Stations For Sale, This Buyer Wants Seconds On Pasta

In May, the U.S. District Court for the District of Delaware ruled in favor of ACADIA Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACAD#NASDAQ">ACAD</a>) regarding its ‘721 formulation patent for Nuplazid (pimavanserin), Acadia&#8217;s drug for the treatment of <a href="https://www.benzinga.com/general/health-care" target="_blank" rel="noreferrer noopener">Parkinson&#8217;s Disease Psychosis</a>.
In order, the court ruled in favor of Acadia on infringement and validity arguments in its formulation patent litigation against Aurobindo Pharma Limited and other ANDA (Abbreviated New <a href="https://www.benzinga.com/pressreleases/25/05/b45474227/delaware-district-court-rules-in-favor-of-acadia-in-nuplazid-pimavanserin-formulation-patent-litig" target="_blank" rel="noreferrer noopener">Drug Application) filers</a>.
&#8220;We are very pleased with today&#8217;s decisive ruling in our favor, which provides patent protection for NUPLAZID 34 mg capsule formulation into 2038,&#8221; said CEO Catherine Owen Adams.
JPMorgan sees the ruling as &#8220;as a clear positive.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/25/05/45476079/acadia-pharmaceuticals-acad-stock-explodes-26-after-patent-court-victory" rel="noreferrer noopener">Acadia Pharmaceuticals (ACAD) Stock Explodes 26% After Patent Court Victory</a>
Analyst Tessa T Romero writes, &#8220;We believe it is logical to assume the parties would appeal the ruling, a process that could take ~1-2 years from start to finish.&#8221;
JPMorgan on Friday increased the price target from $26 to $30, reiterating <a href="https://www.benzinga.com/quote/ACAD/analyst-ratings" target="_blank" rel="noreferrer noopener">the Overweight rating</a>.
The analyst also notes the appeal in the composition of matter (COM) patent litigation at the U.S. Court of Appeals for the Federal Circuit is scheduled for June 6. The patent at issue is the ‘740 COM patent, which covers pimavanserin and salts thereof into 2030, including a patent term extension approved by the U.S. Patent and Trademark Office.
The JPMorgan analyst is confident that the U.S. Court of Appeals will favor Acadia on the ‘740 patent case. The analyst points to three reasons:
<ul class="wp-block-list">
<li>In December 2023, a lower court ruled in Acadia&#8217;s favor, confirming the patent&#8217;s validity.</li>
<li>A similar case involving Allergan also ended positively, which supports Acadia&#8217;s position.</li>
<li>Legal experts consulted by JPMorgan believe there&#8217;s a 95% chance the ruling will go Acadia&#8217;s way.</li>
</ul>
The increased price target is based on the analyst&#8217;s conviction around a favorable outcome from the U.S. Court of Appeals for the Federal Circuit on the ‘740 patent.
Analyst Romero extended Nuplazid LOE assumption to 2038 from 2030 and, at the same time, accounted for potential headwinds from price negotiations under the IRA in the outer years as well as potential competitive threats from certain generic entrants, which could become available following the expiry of Nuplazid&#8217;s COM patent in 2030.
ACAD Price Action: ACADIA stock is up 2.18% at $21.81 at publication on Friday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/legal/25/06/45797712/moderna-beats-alnylam-appeal-in-covid-vaccine-patent-case" target="_blank" rel="noreferrer noopener">Moderna Beats Alnylam Appeal In COVID Vaccine Patent Case</a></li>
</ul>
Photo: Piotr Swat via Shutterstock

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JPMorgan Lifts Acadia Price Target After Nuplazid Patent Victory

Abacus Global Management Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABL#NASDAQ">ABL</a>) shares are trading higher Friday after the company announced a $20 million share repurchase program and disclosed insider <a href="https://www.benzinga.com/pressreleases/25/06/g45821199/abacus-global-management-announces-share-repurchase-program-insider-buying">buying totaling over $2 million. </a>
What To Know: The buyback authorization is effective immediately and will remain in place for up to 18 months.
The move comes in response to what Abacus described as a recent short attack that it claims has artificially depressed its stock price. CEO Jay Jackson said the company sees this as a buying opportunity and emphasized that the board and employees are backing that view through both the repurchase plan and personal investments in the stock.
Abacus stated that it would use cash on hand and future free cash flow to fund the share repurchases. The company also noted that the timing and method of purchases will vary, potentially including open market buys, block trades, and negotiated deals.
In addition to financial action, the company said it is pursuing legal remedies against parties it accuses of spreading false and misleading information. The statement framed the repurchase and insider buying as a signal of confidence in the company&#8217;s long-term performance and stability. Investors responded positively to the news, pushing the stock higher during the session.
ABL Price Action: Abacus shares were up 7.34% at $6.14 at the time of writing, according to<a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2"> Benzinga Pro.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/economic-data/25/06/45820223/stocks-rally-on-strong-jobs-numbers-tesla-rebounds-as-trump-musk-feud-softens-whats-driving-markets-friday">Stocks Rally On Strong Jobs Numbers; Tesla Rebounds As Trump-Musk Feud Softens: What&#8217;s Driving Markets Friday? </a></li>
</ul>
Image Via Shutterstock.

Abacus Global Management Shares Jump After Announcing Buyback Plan And Insider Purchases

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