Streetbeat News

Acquisitions Mergers

MSCI

MSCI Inc. has announced the acquisition of London-based Foxberry, a provider of front-office index technology, to expand its custom index offering. The integration of Foxberry's foxf9 platform will enhance MSCI's index customization solutions, aiming to meet the demand for tailored portfolios. The financial terms were not disclosed, and the transaction is expected to close in Q2 2024, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:18 pm

BURU

NUBURU, Inc. (NYSE:BURU), a leader in industrial blue laser technology, is exploring strategic alternatives, including a sale, merger, or other significant transactions, with Northland Capital Markets as its financial advisor. No timetable or decisions have been made, and there's no guarantee of a favorable outcome or any transaction occurring.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:10 pm

AAPL

MSFT

Rubén Caballero, a former Apple Inc. executive, has reportedly left his position at Microsoft Corp., where he was leading device engineering for mixed reality and AI since 2020. His departure, not officially announced, comes as Microsoft shifts focus towards artificial intelligence, canceling several hardware projects. This move could influence Microsoft's future direction in mixed reality and AI, areas where the company has been making significant strides.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 12:49 pm

TTE

TotalEnergies SE (NYSE:TTE) reported mixed Q4 FY23 results with revenues of $59.237 billion, surpassing expectations, but adjusted EPS fell 27% Y/Y to $2.16, missing consensus. Hydrocarbon production declined, and adjusted net operating income dropped 31% Y/Y. Despite this, the company increased its quarterly dividend by 7.1% and announced a $2 billion share repurchase for Q1 FY24. For FY24, TotalEnergies anticipates hydrocarbon production growth and reaffirmed net investments of $17-$18 billion, committing over 40% of CFFO payout to shareholder returns. TTE shares dropped 2.83% in premarket trading.

Portfolio Pulse from Lekha Gupta

February 07, 2024 | 12:45 pm

TRIN

Trinity Capital has announced a commitment of $20 million in equipment financing to Formlogic, aiming to support Formlogic's growth and expansion efforts.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 12:41 pm

HUT

Hut 8 Corp announced the immediate departure of CEO Jaime Leverton and appointed Asher Genoot as the new CEO. This change follows the completion of the company's merger of equals, signaling a new strategic direction.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 12:31 pm

PFTA

RBio Energy has entered into an agreement to go public through a business combination with Perception Capital Corp. III (PFTA). This move marks a significant step for RBio Energy in its growth and expansion plans, allowing it to access public markets for capital.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 12:20 pm

BRKR

Bruker Corporation has acquired Nanophoton, a company specializing in Raman microscopy systems for academic and industrial research, primarily in Japan. Nanophoton, based in Osaka, reported revenues of around $5 million in 2023 and was near break-even. Financial details of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 12:18 pm

BERY

GLT

Berry Global and Glatfelter have announced a tax-free spin-off and merger of Berry's Health, Hygiene, and Specialties Global Nonwovens and Films Business with Glatfelter. The transaction values the combined company at $3.6 billion, with pro forma revenue of approximately $3.6 billion and adjusted EBITDA of about $455 million. Post-transaction, Berry and Glatfelter shareholders will own 90% and 10% of the new company, respectively, with Berry receiving an approximate net $1 billion cash distribution at closing.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 12:13 pm

IMAB

I-Mab has agreed to sell its entire business operations in China, including 100% of the equity interest in I-Mab Biopharma Co., Ltd., to Hangzhou Company for up to $80 million, depending on future milestones.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 11:40 am