Streetbeat News

Acquisitions Mergers

CNHI

CNH Industrial (CNHI) has taken a minority investment in Bem Agro, a Brazilian AI company specializing in drone imaging for agriculture. This investment aims to enhance CNH's Ag Tech solutions, making farming more efficient and sustainable. Bem Agro's technology, which has been in commercial partnership with CNH for over five years, provides Agronomic Mapping Reports from aerial images to optimize farming operations. The technology is already integrated into CNH's Case IH and New Holland brands in Brazil, Indonesia, and Thailand, aiming to expand its precision technology solutions across Latin America and Asia Pacific.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:20 pm

BNZI

Banzai International, Inc. (NASDAQ:BNZI) reported a December 2023 ARR of $4.6M and targets a December 2024 ARR of $8.1M-$10M. The company executed an LOI to acquire Mixed Analytics, aiming to enhance its MarTech solutions. This acquisition, along with others under LOI, is expected to contribute to the targeted ARR growth. Banzai's strategy includes organic growth and acquisitions, with a significant increase in ARR anticipated by the end of 2024.

Portfolio Pulse from Happy Mohamed

February 20, 2024 | 1:18 pm

IMNM

Immunome has acknowledged Ayala Pharmaceuticals' announcement of completing enrollment in the Phase 3 RINGSIDE study for AL102, a treatment for desmoid tumors. Earlier this month, Immunome entered into a definitive asset purchase agreement with Ayala to acquire AL102.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:17 pm

KTOS

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) has ordered nine Zeus 1 and Zeus 2 rocket motors for initial customer funded flights. These motors are part of Kratos' strategy to provide affordable, high-performance solid rocket motors (SRMs) for various missions, including hypersonic test and ballistic missile targets. The Zeus SRMs are designed to offer performance improvements, allowing for more frequent, faster, and farther flights at reduced costs. Kratos' investments in hypersonic systems like Erinyes and Dark Fury complement these SRMs, positioning the company as a key player in both launcher and flyer systems.

Portfolio Pulse from Happy Mohamed

February 20, 2024 | 1:14 pm

COF

DFS

Discover Financial Services (DFS) shares rose by 11% in pre-market trading after Capital One Financial Corp (COF) announced plans to acquire DFS in a $35.3 billion all-stock deal, offering a 26% premium over DFS's last closing price. Other stocks showed significant pre-market movements, with notable gainers including AgriFORCE Growing Systems (AGRI) and Shineco, Inc. (SISI), and losers like Universe Pharmaceuticals INC (UPC) and MicroCloud Hologram Inc. (HOLO).

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 1:09 pm

AZN

GRCL

Gracell Biotechnologies Inc. (NASDAQ:GRCL) shareholders approved the merger with AstraZeneca Treasury Limited, making Gracell a wholly owned subsidiary of AstraZeneca. The approval came during an extraordinary general meeting with a 94.8% attendance of total outstanding shares, and 99.9% of votes cast in favor. The merger is part of a previously announced agreement aimed at enhancing Gracell's capabilities in developing cell therapies for cancer and autoimmune diseases.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 12:55 pm

SSIC

Silver Spike Investment Corp. (SSIC) has entered into a definitive agreement to acquire a significant loan portfolio from Chicago Atlantic Loan Portfolio, LLC (CALP). The acquisition will be made in exchange for newly issued shares of SSIC's common stock, with the net asset value equal to the CALP Loan Portfolio's value. This move aligns with SSIC's newly announced broadened investment strategy.

Portfolio Pulse from Charles Gross

February 20, 2024 | 12:47 pm

IRBT

LEG

SONY

The article highlights four consumer discretionary stocks considered oversold based on their Relative Strength Index (RSI) values being near or below 30. These stocks include iRobot Corporation (IRBT), Leggett & Platt, Incorporated (LEG), LL Flooring Holdings, Inc. (LL), and Sony Group Corporation (SONY). Each company's recent financial performance and stock price actions are discussed, indicating potential undervaluation and opportunity for investors.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 12:44 pm

Boeing Co (NYSE:BA) has secured significant orders from Thai Airways and Royal Brunei Airlines, with Thai Airways purchasing 45 787 Dreamliners and Royal Brunei Airlines acquiring four. These deals aim to modernize and expand the airlines' fleets, contributing to their carbon neutral goals with the environmentally friendly GEnx engines. Boeing's 2023 Commercial Market Outlook anticipates a robust growth in Southeast Asia's aviation sector, forecasting a three-fold increase in the widebody fleet over the next 20 years.

Portfolio Pulse from Lekha Gupta

February 20, 2024 | 12:41 pm

DFS

GFS

INTC

NVDA

SSRM

WMT

US stocks are poised for a weaker open influenced by mixed retail earnings, with Home Depot reporting a sales decline and Walmart rising after acquiring VIZIO and posting solid results. Nvidia's upcoming earnings are highly anticipated, given its expected AI-driven growth. Last week's inflation reports led to a market pullback, ending a five-week winning streak for major indices. Discover Financial surged in premarket trading after an acquisition announcement, while GLOBALFOUNDRIES and Intel saw gains from government subsidies. SSR Mining's stock fell due to a temporary suspension of search and rescue activities.

Portfolio Pulse from Shanthi Rexaline

February 20, 2024 | 12:40 pm