BlackBerry Hits Cash Flow Milestone; M&A Hits Life Sciences, AI
BlackBerry returns to positive operating cash flow as onsemi and Merck KGaA announce multi-billion dollar acquisitions.
BlackBerry Ltd (BB) reported first-quarter fiscal 2027 revenue of $153 million, a 26% year-over-year increase. The company achieved its first quarter of positive operating cash flow in nine years, excluding a prior patent sale, while Adjusted EBITDA grew 144%.
Stifel Financial Corp (SF) saw total client assets climb 18% year-over-year in May, driven by advisor recruiting and market appreciation. The firm expects second-quarter investment banking revenue to rise 25% to 30% over the same period last year. BGC Group, Inc. (BGC) reaffirmed its previously stated revenue and pre-tax Adjusted Earnings outlook for the second quarter of 2026.
Merck KGaA, Darmstadt, Germany, has agreed to acquire Bio-Techne Corp (TECH) for $73 per share in cash, representing an enterprise value of $11.3 billion. The deal aims to expand Merck's presence in next-generation life sciences and multi-omics. Taysha Gene Therapies, Inc. (TSHA) has commenced an underwritten public offering of $200 million in common stock and pre-funded warrants.
Pitney Bowes Inc (PBI) redeemed $347 million of 6.875% Senior Notes due 2027, pushing its next scheduled maturity to March 2029. To fund the redemption, the company upsized its Term Loan A credit facility by $150 million.
Worthington Steel, Inc. (WS) reported fourth-quarter fiscal 2026 net sales of $929.2 million, a 12% increase over the prior year. However, the company posted a net loss attributable to controlling interest of $48.7 million, weighed down by non-cash impairments in its Electrical Steel unit.
onsemi has entered a definitive agreement to acquire Synaptics Inc (SYNA) in an all-stock transaction valued at approximately $7 billion. The acquisition is intended to accelerate onsemi's expansion into "Physical AI," potentially increasing its total addressable market by $30 billion by 2030.