Stocks · Theme
M&A & special situation stocks · 78 research notes
78 M&A & special situations stocks moving on the same story, each with a dated research note: thesis, kill line and next catalyst.
Active themeStage: maturing, as of 15 November 2026.
All 78 have a dated research note with a published kill line: the note's own test, stated in advance, of what would prove it wrong: a price level, a business fact, or both.
All stocksUUnity SoftwareMedium Unity Software's advertising turnaround and reported takeover interest make the shares modestly more likely than not to beat the S&P 500 over three months; the fourth-quarter 2026 report, expected around 11 February 2027, settles whether…CVSCVS HealthMedium CVS Health is modestly more likely to beat the S&P 500 over three months: Aetna's costs improved and 2026 guidance rose, and the February 2027 report tests the 2027 outlook of at least $8.65 per share.GPNGlobal PaymentsMedium Global Payments trades on a reported $40 billion CD&R and GTCR buyout, and nine brokers raised targets after in-line third-quarter results on 5 November 2026; a signed deal at a premium, or word that talks have ended, settles the case.MBGLMobility GlobalMedium Mobility Global, the CARFAX owner spun off from S&P Global, is more likely to beat the S&P 500 over three months because its third-quarter organic growth sped up to 7.6% and a $350–450 million buyback is due to start before the end of…ADTLow ADT Inc. trades as a pending $10.00-per-share cash buyout by Thrive Holdings, so its shares are more likely to lag the S&P 500 than lead it. A rival bid before the go-shop window closes on 28 November 2026 is the one event that would…BETRBetter Home & Finance HoldingLow Better Home & Finance shares are more likely to lag the S&P 500 over three months: volume fell from $496 million in July to $345 million in October and cash is shrinking. The weekly Better 2.0 scorecards will show whether the cost cuts…BMBLBumbleLow Bumble's shares are likely to trail the S&P 500 because they trade as a pending $6.05-per-share cash takeover by Ithaca Holdings, closing at $5.99 on 11 November 2026. Antitrust clearance and the Schedule 14C closing timeline decide when…BRZEBrazeLow Salesforce's agreed $47.50-per-share cash takeover of Braze caps the shares just under the offer, so they are more likely to lag the S&P 500 than lead it over three months. The US antitrust review, the stockholder vote or a rival bid…CARTMaplebearLow Maplebear, Instacart's parent, looks likely to lag the S&P 500 because DoorDash's $65.00-a-share offer caps the gain while antitrust review may run into 2028. The first federal step on the merger filing settles the case.DASHDoorDashLow DoorDash shares are more likely to lag the S&P 500 over three months: a $17 billion Instacart deal facing a review that may run to 2028 and a flat fourth-quarter profit guide outweigh record results; the February 2027 report is the next…DXCDXC TechnologyLow DXC Technology's shares are more likely to lag the S&P 500 because they trade above every post-results analyst target while the insurance-unit sale remains unsigned. A signed deal and its price settle the case.HELEHelen of TroyLow Helen of Troy's shares are more likely to lag the S&P 500 because the $37.98 close on 11 November 2026 already tops Empower Brands' rejected $37.00 offer. A higher signed deal, or a stalemate at the report due around 8 January 2027,…JNJJohnson & JohnsonLow Johnson & Johnson's drug approvals keep coming, but weak medical devices and $1.36 per share of 2027 deal dilution leave the shares more likely to lag the S&P 500. The 8 December 2026 business review and January 2027 guidance settle it.LITELumentum HoldingsLow Lumentum Holdings' shares look more likely to lag the S&P 500 because a fixed 4.500-share Marvell merger ties them to Marvell's stock more than to Lumentum's growth. Marvell's 1 December 2026 quarterly report is the next test.MRVLMarvell TechnologyLow Marvell Technology shares are more likely to lag the S&P 500 over the next three months because merger arbitrage gives its $115 billion all-stock Lumentum deal only even odds, leaving an overhang until 2028. The 1 December 2026 fiscal…OPCHOption Care HealthLow Option Care Health's $32.05-per-share cash sale to CD&R and McKesson caps the shares, which closed at $31.70 on 11 November 2026, so they are more likely to lag than lead the S&P 500. The 3 December 2026 antitrust waiting-period expiry and…PCRXPacira BioSciencesLow Pacira BioSciences trades as a pending takeover pinned near Viatris's $36.50 cash offer, so the shares are more likely to lag the S&P 500 than lead it. The tender offer expiring on 16 November 2026, with antitrust clearance already…PDPagerDutyLow PagerDuty's shares are more likely to lag the S&P 500 over three months because a 32.1% three-month rally has run ahead of revenue growth of 0.8%. Fiscal third-quarter results, expected around 24 November 2026, test whether revenue and 98%…PSNLPersonalisLow Personalis trades as a fixed $16.25-per-share claim on Tempus AI's agreed takeover, so the shares are more likely to lag the S&P 500 than lead it; the 30 November 2026 stockholder vote and the closing settle it.PTCLow PTC Inc. is pinned just below Schneider Electric's $205-per-share cash offer, which the buyer called best and final, so the shares are more likely to lag the S&P 500 than lead it. Antitrust and CFIUS reviews, the shareholder vote and a…RIGTransoceanLow Transocean's shares are more likely to lag the S&P 500: its roughly $8 billion offshore-rig backlog has not lifted earnings, and 2027 revenue is guided flat at $3.85–4.0 billion. The 24 November 2026 Valaris votes and the deal's targeted 1…RRCRange ResourcesLow Range Resources is likely to lag the S&P 500 because its shares now trade as 0.987 EQT shares under EQT's all-stock takeover, with the premium priced in; EQT's share price, gas prices and the shareholder votes before a first-quarter 2027…RXOLow RXO, Inc. is likely to lag the S&P 500 because C.H. Robinson's pending $17.25-cash-plus-0.0856-share takeover caps its upside. Antitrust review, the registration statement and the shareholder vote settle the deal, with closing targeted for…SGRYSurgery PartnersLow Surgery Partners' shares, at $26.58 on 12 November 2026, already price in more than HealthSpan Partners' $25.00 cash deal pays and are more likely to lag the S&P 500. Whether the rejected $28.00 bidder, reported to be UnitedHealth, returns…SLNSilence TherapeuticsLow Silence Therapeutics' shares trade just under Merck KGaA's $20-per-ADS cash takeover price, so they are more likely to lag the S&P 500 than lead it over three months. The proxy statement that dates the scheme vote, and antitrust clearance…VALValarisLow Valaris shares are more likely to lag the S&P 500 because they trade as Transocean stock at 15.235 shares each, and Transocean's 2 November 2026 results showed lower revenue and a flat 2027 outlook. The 24 November 2026 votes, the 26…ACBAurora CannabisMedium Organigram Global's agreed C$7.80-per-share deal sets the value for Aurora Cannabis, whose shares trade below it; Curaleaf's response before its offer expires on 4 December 2026 and December shareholder votes settle whether holders get…CODICompass DiversifiedMedium Compass Diversified is cutting debt faster than its earnings are shrinking: covenant leverage fell to about 4.5 times at 30 September 2026 and the 2026 outlook floor rose to $330 million. Another subsidiary sale or an outlook cut settles…EVGOMedium EVgo's shares track majority owner LS Power's $2.00-per-share cash take-private offer and closed at $1.75 on 12 November 2026, below it. The special committee's answer settles the case: a signed deal at $2.00 closes the gap, while a…EWTXEdgewise TherapeuticsMedium Edgewise Therapeutics is modestly more likely than not to beat the S&P 500 over three months: FDA-cleared Phase 3 plans for heart drug EDG-7500, $1.74 billion of cash and unconfirmed takeover reports support it. The STRATUS-HCM trial…EXTRExtreme NetworksMedium Extreme Networks pairs a beat-and-raise operating quarter with a Reuters-reported sale process; a named bidder or offer settles the takeover case, and second-quarter fiscal 2027 revenue against the $345.8–350.8 million guide settles the…ACHRArcher AviationLow Archer Aviation's pending Boeing-unit purchase would add Insitu's stated $200 million-plus of annual revenue to an air-taxi developer reporting $5.1 million a quarter, but a wider loss guide leaves the shares more likely to lag the S&P…AGLTChurchill Capital Corp XILow Agility Robotics (AGLT), the humanoid-robot maker listed via its 4 November 2026 merger with Churchill Capital Corp XI, is more likely to lag the S&P 500: revenue is small, and resale of about two-thirds of shares is registered.AMBAAmbarellaLow Ambarella's shares are more likely to lag the S&P 500 over three months: they sit below their 50-day and 200-day averages and the reported NXP sale talks have not lifted them; the third-quarter fiscal 2027 report on 24 November 2026…ANABAnaptysBioLow AnaptysBio's shares are more likely to lag the S&P 500 over three months because their value rests on an undated Delaware Chancery judgment on returning Jemperli rights from GSK's Tesaro unit, expected in the fourth quarter of 2026 or the…ARTVArtiva BiotherapeuticsLow Artiva Biotherapeutics is more likely to lag the S&P 500 over three months: its $319.1 million of cash depends on a board strategic review with no set date, and the shares have no scheduled event to settle it.ARXAccelerant HoldingsLow Accelerant Holdings is more likely to lag the S&P 500 over three months: Thoma Bravo's $20.25 per share cash offer caps the upside from the $19.89 close on 12 November 2026. Regulatory approvals and the shareholder vote settle whether the…ATEXAnterixLow Anterix's 900 MHz spectrum case still lacks a signed deal: its 10 November 2026 quarterly report showed no new utility agreement, no buyback and no strategic-review timetable, so the shares are more likely to lag the S&P 500 until a…BAKBraskemLow Braskem's creditor talks have no agreement and shareholders withdrew their funding offer on 6 November 2026, so heavy dilution for the listed ADR is likelier than a clean deal; the creditor-support deadline of about 22 November 2026…BOLDBoundless BioLow Boundless Bio is more likely to lag the S&P 500 over three months: the Serapha Bio deal offers a $44–48 million cash dividend plus about 3.8% of the combined company. The 3 December 2026 shareholder vote and a per-share declaration settle…BSPBending Spoons S.p.A.Low Bending Spoons' software-buying model still earns profit, but 3% organic growth and costlier debt make the shares more likely to lag the S&P 500; the 20 November 2026 Q3 report and the lock-up expiry after it settle the case.BWINBaldwin Insurance GroupLow The Baldwin Insurance Group is a signed $32.50 cash take-private, so its shares are capped near the deal price and likely to lag the S&P 500; the shareholder vote, antitrust clearance and buyout financing for a first-quarter 2027 close…CCCCCC Intelligent Solutions HoldingsLow CCC Intelligent Solutions' $7.75-per-share cash sale to a GTCR-led group including Elliott caps the shares near the offer, so they are more likely to lag the S&P 500; closing, expected in the first quarter of 2027, settles the case.CNMDCONMEDLow CONMED Corporation's shares are more likely to lag the S&P 500 over three months: the price leans on an unconfirmed July sale report while the 28 October 2026 report trimmed organic growth guidance. A confirmed deal or the fourth-quarter…DJTTrump Media & Technology GroupLow Trump Media's shares are more likely to lag the S&P 500: the core business is tiny and a roughly $1 billion convertible-note put falls due 30 November 2026, ahead of the 14 December 2026 vote on the TAE Technologies merger.DSGRDistribution Solutions GroupLow Distribution Solutions Group's shares are more likely to lag the S&P 500 over three months: they trade on a $35.00 cash buyout from LKCM Headwater, which caps upside. The definitive proxy and the unaffiliated-holder vote, due before the 31…EPCEdgewell Personal CareLow Edgewell Personal Care's shares are more likely to lag the S&P 500 over three months: the fiscal 2027 outlook sits on analyst estimates and the price is under a rejected $30 bid. The first fiscal 2027 quarterly report, expected around…HZOMarineMaxLow MarineMax trades as a pending $53.00-per-share cash takeover by Safe Harbor Marinas, which caps the shares near their price and makes them likelier to lag the S&P 500. The filed vote result and a closing on or after 7 December 2026 settle…IRDMIridium CommunicationsLow Iridium Communications trades as a claim on Rocket Lab's $27.00 cash-plus-stock offer, so its upside is capped and the shares are more likely to lag the S&P 500; the FCC license-transfer decision and Rocket Lab's price against the $67.50…ITGRInteger HoldingsLow Integer Holdings' shares are more likely to lag the S&P 500 over three months: KKR's $127.00 cash price caps the gain. Completion, which the company targets by 31 December 2026, settles the outcome.LILALiberty Latin AmericaLow Liberty Latin America's shares are more likely to lag the S&P 500 over three months: the 4 November 2026 quarterly report missed estimates and the Liberty Puerto Rico restructuring is unresolved. A signed deal on the parent's stake in the…MKTXMarketAxess HoldingsLow MarketAxess Holdings' fixed $167 cash sale to Intercontinental Exchange caps the shares' upside, so they are more likely to lag the S&P 500 over three months; the remaining non-US approvals and the first-quarter 2027 closing settle it.NEXANexa ResourcesLow Nexa Resources, a zinc producer, is more likely to lag the S&P 500 over three months: its shares track Boliden's pending purchase of the controlling holder, and Citigroup cut its target to $12 on 12 November 2026. Boliden's 23 November…OGNOrganonLow Organon & Co. trades as a completion case on Sun Pharma's $14.00 cash acquisition; the $13.85 close on 9 November 2026 sits just under the offer, and the 3 December 2026 European Commission deadline and remaining clearances settle it.PAYOPayoneer GlobalLow Payoneer Global is a pending $7.40-per-share all-cash takeout by Nuvei; the shares trade just below that price, so the remaining gain is small, and regulatory clearance and completion, targeted for mid-2027, settle the case.PBIPitney BowesLow Pitney Bowes is lifting earnings through cost cuts, debt reduction and buybacks while revenue is flat to down, but the shares fell to $15.40 after a beat; the fourth-quarter report, expected around late February 2027, settles the…PRGOPerrigoLow Perrigo's shares are more likely to lag the S&P 500 after the 4 November 2026 cut to 2026 core earnings guidance of $2.15–$2.35 a share; the Infant Formula sale brings only $40 million upfront against about $3.3 billion of debt. The Oral…PRTHPriority Technology HoldingsLow Priority Technology Holdings trades as a pending $8.05-per-share cash buyout, so upside is capped near the offer and the S&P 500 is more likely to lead; the unaffiliated-shareholder vote and regulatory approvals, guided for the first half…RDACRising Dragon AcquisitionLow Rising Dragon Acquisition Corp., a blank-check company with no operating business, is more likely to lag the S&P 500 over three months: its HZJL merger ended on 30 October 2026 and no new target is named. The 15 November 2026 extension…RFAIRF Acquisition Corp IILow RF Acquisition Corp II, a blank-check shell awaiting its Nanyang Biologics merger, is more likely to lag the S&P 500 over three months: the price rests on a small float from 98.95% preliminary redemptions, and the closing report with final…RLYBRallybioLow Rallybio's stockholders approved the Avenzo Therapeutics merger on 4 November 2026 and the final cash distribution is $13.90 per share, so what remains is a roughly 2.8% stake in an early-stage oncology company. The merger closing after…RPAYRepay HoldingsLow Repay Holdings' Q3 report on 9 November 2026 beat estimates, but the core consumer segment grew 0.3% organically and growth and cash-conversion targets were cut. The 7 December 2026 Investor Day shows whether management can restore the…SAFTSafety Insurance GroupLow Safety Insurance Group's shares closed at $104.49 on 10 November 2026, below Mapfre's fixed $105.00 cash offer. Shareholders approved the deal on 3 November 2026, so Massachusetts insurance regulator approval now settles the outcome.SEERLow Seer, Inc. closed at $1.61 on 10 November 2026 after its board rejected both take-private proposals and the third-quarter report cut 2026 revenue guidance to $13.5-14.5 million. Cash of $198.1 million and the year-end patent ruling now…SHLSShoals Technologies GroupLow Shoals Technologies' third-quarter beat and raised 2026 revenue guide are now overshadowed by its 4 November 2026 all-stock merger with ARRAY Technologies, which makes the shares a claim on the combined company; shareholder votes and a Q1…SITCSITE CentersLow SITE Centers, a liquidation stub after its $3.00 payout, is more likely to lag the S&P 500 over three months: it has not said what it will still distribute, and the 4 December 2026 NYSE delisting and The Blocks sale closing settle the read.SKYASkyAILow SkyAI's shares are more likely to lag the S&P 500 over three months. They closed at $2.45 on 12 November 2026, below the $3.00 cash tender that expired that night, and the untendered shares' value rests on the cash left after payment.SMTISanara MedTechLow Sanara MedTech is more likely to lag the S&P 500 over three months: its sale to MiMedx has no closing date after the FTC's 15 October 2026 Second Request, and the 12 November 2026 guidance cut weakens the fallback value. FTC clearance or a…SPSCSPS CommerceLow SPS Commerce's shares are more likely to trail the S&P 500 over the next three months: 2026 revenue guidance fell twice and the reported GTCR takeover talks remain unconfirmed. A signed deal or the 2027 outlook settles it.SSTISoundThinkingLow SoundThinking's shares are more likely to lag the S&P 500 over three months because Transom Capital Group's $8.00-cash-plus-CVR tender offer caps the upside; the 17 November 2026 tender expiry decides whether holders receive it.SYNASynapticsLow Synaptics' shares trade as a claim on onsemi's $123.00 per share cash offer with no rival bidder left, so they are more likely to trail the S&P 500; the 17 November 2026 shareholder vote and China's antitrust review settle it.TECHBio-TechneLow Bio-Techne's shares are more likely to lag the S&P 500 over three months: they sit just under Merck KGaA's $73.00 cash offer, which caps the gain. Receipt of the remaining regulatory approvals, guided for late 2026 or early 2027, settles…ULBIUltralifeLow Ultralife Corporation trades as a capped claim on EnerSys's $16.00-per-share cash offer, so it is more likely to lag the S&P 500 than lead it; US and UK clearances and the tender, first due to expire on 3 December 2026, settle whether…UTZUtz BrandsLow Utz Brands shares are more likely to lag the S&P 500 because stockholders approved Intersnack's $14.25 cash take-private on 13 November 2026 and the shares already close there; the closing expected on or around 20 November 2026 settles it.VREXVarex ImagingLow Varex Imaging is a deal-completion case capped at Teledyne's $18.90 cash price; the UK and US reviews ending 18 November 2026 and 19 November 2026 decide whether completion in early 2027 stays on track.VRNSVaronis SystemsLow Varonis Systems is a pending $49.75-per-share cash acquisition by Proofpoint, and the 10 November 2026 close of $49.10 sits below the offer, so upside is capped unless a rival bid appears. Stockholder approval and regulatory clearance,…XHGXChange TEC.INCLow XChange TEC.INC's shares trade on an AI-expansion plan with no disclosed First Cycle terms or US spending detail, so they are more likely to lag the S&P 500 over three months; a definitive agreement or the fiscal 2026 annual report settles…XPOFXponential FitnessLow Xponential Fitness's weak third quarter (same-store sales down 7.5%) undercuts the business behind Fund 1's $5.61–$7.00 cash proposal, so the shares are more likely to lag the S&P 500 unless the board's review yields a signed or financed…