Streetbeat News

Acquisitions Mergers

ANRO

Alto Neuroscience, Inc (ANRO) is set to IPO on February 2nd on the NYSE, offering shares between $14.00 and $16.00 with a 180-day insider lock-up period ending July 31, 2024. The company focuses on developing personalized psychiatric treatments through neurobiology research.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 3:00 pm

GUTS

Fractyl Health, Inc (NASDAQ:GUTS) is set to begin trading on NASDAQ under the ticker GUTS on February 2, with an IPO price range of $14.00 to $16.00 per share. The company, specializing in metabolic therapeutics for diseases like type 2 diabetes and obesity, has a 180-day insider lock-up period ending on July 31, 2024.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 3:00 pm

DB

Deutsche Bank AG (NYSE:DB) announced it will cut 3,500 jobs, primarily in back-office roles, as part of an efficiency drive. This move, representing about 4% of its global workforce, is accompanied by plans for share buybacks and dividends. The bank aims to reassure investors of its recovery, focusing more on its retail division, which has been the main revenue driver since 2023. Despite exceeding Q4 expectations, Deutsche Bank faces challenges, including regulatory scrutiny and a potentially difficult 2024 due to anticipated interest rate cuts.

Portfolio Pulse from Benzinga Neuro

February 01, 2024 | 2:54 pm

TWLO

Twilio Inc (NYSE:TWLO) shares are trading higher, up 2.41% at $72.02, following reports that Dutch messaging startup Bird is considering making a bid for Twilio. Bird, backed by Accel Partners and previously known as MessageBird, is in talks with investors to raise funds for the acquisition. This news comes amid pressure from activist investors for Twilio to make significant changes or explore a sale. Twilio is expected to report Q4 earnings of 58 cents per share on revenue of $1.043 billion.

Portfolio Pulse from Adam Eckert

February 01, 2024 | 2:31 pm

HUT

Celsius Network LLC has emerged from bankruptcy, planning to repay up to $3 billion to creditors in cryptocurrency, fiat, and Ionic Digital stock. The reorganization plan, approved by the Bankruptcy Court for the Southern District of New York, received support from 98% of Celsius' account holders. The company will wind down operations and establish a new Bitcoin mining entity, Ionic Digital, Inc., managed by Hut 8 Corp. (NASDAQ:HUT). Ionic Digital's stock is expected to be publicly traded after receiving necessary approvals.

Portfolio Pulse from Murtuza Merchant

February 01, 2024 | 2:27 pm

INBX

SNY

Sanofi SA's Q4 earnings were impacted by generic competition for Aubagio, but gains from Dupixent and the launch of Altuviiio and Beyfortus helped offset losses. Operating income fell 5.2% to €2.6 billion, with revenues up 1.8% to €10.92 billion, missing consensus estimates. The company aims to become a pure-play biopharma entity by 2030, with significant sales from new Pharma launches. Sanofi also acquired assets related to Inhibrx Inc's INBRX-101. The company expects a low single-digit percentage decrease in 2024 adjusted EPS due to higher taxes but anticipates a strong rebound next year.

Portfolio Pulse from Vandana Singh

February 01, 2024 | 2:24 pm

ETSY

Activist investor Elliott has reportedly acquired a 13% interest in Etsy, indicating a significant stake in the online marketplace.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 2:18 pm

PBF

SHEL

USO

A shipment of 10,000 barrels of Russian oil entered the U.S. through a loophole, despite sanctions, and was processed by PBF Energy in Delaware. Oil prices were influenced by Federal Reserve comments and global production data. Shell reported strong Q4 earnings, with other oil majors set to report soon. The United States Oil Fund saw a price adjustment in response to these developments.

Portfolio Pulse from Neil Dennis

February 01, 2024 | 2:17 pm

AJG

Arthur J. Gallagher & Co. (AJG) has acquired FarmPLUS Insurance Services. The terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 2:17 pm

OMER

Omeros Corporation has entered into a royalty monetization agreement with DRI Healthcare Trust, receiving an upfront payment of $115 million. The deal also includes the potential for Omeros to earn an additional $55 million based on future sales milestones.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 2:13 pm