Streetbeat News

Acquisitions Mergers

MPW

Medical Properties Trust (MPW) reported Q4 FY23 revenues of $336.6 million, surpassing consensus estimates but experienced a decline in NFFO per share to $0.36 from $0.43 a year ago. The company reported a net loss of $(664) million, significantly higher than the previous year's $(140) million. Total assets were $18.3 billion, with a focus on accelerating capital allocation strategy for 2024. Uncertainty around hospitals leased to Steward and liquidity transactions led MPW to withhold FY24 guidance.

Portfolio Pulse from Lekha Gupta

February 21, 2024 | 4:28 pm

CMND

SPRC

SciSparc Ltd. (NASDAQ:SPRC) and Clearmind Medicine Inc. (NASDAQ:CMND) have filed three patent applications for novel psychedelic compound combinations, aiming to enhance their market position and attract investments for mental health treatments. The patents involve combinations of LSD, psilocybin, DMT, and PEA, with the latter being the active ingredient in SciSparc's CannAmide. This collaboration seeks to protect their innovative therapies exclusively. Following the announcement, SPRC's shares rose by 2.74%, while CMND's shares fell by 7.79%.

Portfolio Pulse from Patricio Liddle

February 21, 2024 | 4:12 pm

ELAB

Braeden Lichti has acquired a 22.07% stake in Elevai Labs, with the shares purchased for investment purposes. This significant stake acquisition indicates a strong belief in the company's future prospects.

Portfolio Pulse from Charles Gross

February 21, 2024 | 4:01 pm

DKNG

PENN

DraftKings Inc (NASDAQ:DKNG) announced its Q4 financial results, increased 2024 guidance, and revealed a partnership with Barstool Sports following its re-acquisition by founder Dave Portnoy from PENN Entertainment (NASDAQ:PENN). This partnership, along with a new deal with LeBron James and the acquisition of Jackpocket, is poised to boost DraftKings' growth. The Jackpocket acquisition, expected to close in the second half of 2024, is anticipated to diversify DraftKings' portfolio and enhance customer acquisition, with significant revenue and EBITDA impact projected for 2026.

Portfolio Pulse from Chris Katje

February 21, 2024 | 3:51 pm

NVDA

SFBQF

SOUN

STLA

Nvidia (NASDAQ:NVDA) and SoftBank (OTCPK: SFBQF) recently announced stakes in SoundHound AI (NASDAQ:SOUN), causing its stock to surge over 60%. SoundHound, known for its AI voice technology, has been gaining traction in the restaurant and automotive industries, with partnerships like Jersey Mike's Subs and Stellantis' (NYSE:STLA) DS Automobiles. The company's technology, which includes a Voice Assistant integrated with ChatGPT, is seen as pivotal in the spatial computing market.

Portfolio Pulse from Stjepan Kalinic

February 21, 2024 | 3:28 pm

AMZN

WBA

Amazon Inc (AMZN) is set to join the Dow Jones Industrial Average (DJIA), replacing Walgreens Boots Alliance Inc (WBA). Amazon's stock surged over 100% since the beginning of 2023 after a 51% drop in 2022. Walgreens, on the other hand, has seen a significant decline in its shares over the past years. The inclusion of Amazon in DJIA reflects the evolving nature of the American economy, increasing consumer retail and tech exposure in the index. Amazon joins other tech giants like Apple (AAPL) and Microsoft (MSFT) in the DJIA. The performance of tech stocks, including those in the 'Magnificent 7', significantly impacted the S&P 500's gains last year. The article questions the impact of DJIA membership on stock performance, citing the mixed results of Apple and Microsoft after their inclusion.

Portfolio Pulse from Neil Dennis

February 21, 2024 | 3:08 pm

MMM

3M announced it will spin off its healthcare business on April 1, retaining a 19.9% minority stake in the new entity, Solventum. The company plans to monetize its stake within the first five operational years of Solventum.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 2:39 pm

RUM

The SEC has concluded its investigation into Rumble Inc. (RUM) without recommending any enforcement action, marking a significant regulatory clearance for the social media platform. This follows a similar clearance for Truth Social's merger with Digital World Acquisition Corp. However, the SEC's letter to Rumble included a caution that this does not exonerate the platform or preclude future actions.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 2:38 pm

ASML

NVDA

SSNLF

TSM

Samsung Electronics Co has sold its entire stake in ASML Holding NV to focus on expanding its chipmaking capabilities. The sale of about 1.58 million shares, a 0.4% stake, was part of Samsung's strategy to enhance its competitive position in the global semiconductor industry, particularly against SK Hynix Inc and Taiwan Semiconductor Manufacturing Co. Samsung's divestiture from ASML, valued at approximately $930 million, aligns with its efforts to lead in high-bandwidth memory chips, crucial for Nvidia Corp's AI accelerators.

Portfolio Pulse from Anusuya Lahiri

February 21, 2024 | 2:19 pm

AAPL

NVDA

TSLA

The article covers a range of topics from cryptocurrency developments, including Bitcoin ETF activity and Ripple's interest in an XRP ETF, to US and world politics, tech updates like Apple's future iPad lineup, and electric vehicle news including Tesla's pricing strategy in Germany. It also touches on financial news such as the Capital One-Discover merger criticism and Nvidia's anticipated earnings report.

Portfolio Pulse from Akanksha Bakshi

February 21, 2024 | 2:15 pm