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Acquisitions Mergers

MSFT

SGAMY

Microsoft Corp. (NASDAQ:MSFT) has countered the Federal Trade Commission's (FTC) criticism regarding the 1,900 layoffs post-Activision acquisition, stating Activision was already planning significant layoffs prior to the merger. Microsoft criticized the FTC's claims as 'incomplete and misleading,' highlighting that the layoffs were part of pre-existing plans by Activision, aligning with broader industry trends. The tech giant also mentioned its readiness to reverse the acquisition if necessary, though deemed unlikely. The FTC's concerns are focused on antitrust issues rather than workforce implications.

Portfolio Pulse from Franca Quarneti

February 09, 2024 | 10:14 pm

CMP

MTAL

NEXA

PLL

JPMorgan Chase analyst Bill Peterson maintained a Neutral rating on Piedmont Lithium Inc. (PLL) and lowered the price target from $25 to $15. Metals Acquisition Limited (MTAL) announced its IPO in Australia was oversubscribed, with proceeds increased to A$325 million. Nexa Resources S.A. (NEXA) reported its 2023 exploration results, achieving 97% of planned activities. Compass Minerals International Inc. (CMP) reported Q1 fiscal 2024 results with a 67% increase in Plant Nutrition sales and announced a 6% reduction in 2024 capital expenditure.

Portfolio Pulse from Austin DeNoce

February 09, 2024 | 9:36 pm

AAPL

AMZN

GOOG

GOOGL

META

MSFT

NVDA

NYCB

PLTR

TSLA

The S&P 500 index surpassed 5,000 points, driven by AI optimism. The 'Magnificent Seven' tech giants reached a $13 trillion market cap, while Palantir led the Russell 1000 with a 40% surge. Tesla's status is threatened as its market cap falls. Meta Platforms celebrates Facebook's 20th anniversary with significant returns. Novo Nordisk's weight-loss drugs impact the food industry, and Bill Ackman launches a retail investor fund. Amazon's Alexa faces privacy concerns amid AI enhancements.

Portfolio Pulse from Piero Cingari

February 09, 2024 | 9:08 pm

AYRWF

CURLF

GTBIF

PLNHF

VRNOF

As Super Bowl LVIII approaches in Las Vegas, Nevada's cannabis industry is poised to benefit from increased visitor traffic, thanks to legislative reforms and strategic market positioning. The state has raised legal possession limits and removed medical license requirements for retailers. Nevada's cannabis market, valued at $850 million, is stabilizing with slight sales fluctuations but overall strong economic indicators. The market features 104 dispensaries with high revenue per store and wholesale prices. Leading brands and public multi-state operators (MSOs) like AYR Wellness, Curaleaf Holdings, Green Thumb Industries, and Planet 13 Holdings are key players. Planet 13 stands out for maintaining its market share and enhancing customer experience with innovative offerings.

Portfolio Pulse from Nicolás Jose Rodriguez

February 09, 2024 | 8:58 pm

SHCO

Soho House shares surged following the announcement that its board is evaluating transactions that could lead to the company going private in fall of 2023.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 8:50 pm

SHCO

Soho House shares surged after the company announced its board is evaluating transactions that could lead to it becoming private in fall 2023.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 8:42 pm

SMH

The Biden-Harris Administration plans to invest over $5 billion in semiconductor-related R&D and workforce development, including in the National Semiconductor Technology Center (NSTC), as part of the CHIPS and Science Act. This investment aims to advance U.S. leadership in semiconductor R&D, reduce commercialization costs, bolster national security, and support semiconductor job creation. The NSTC, a public-private consortium, will focus on innovation, workforce development, and lowering R&D participation barriers. Additional investments include $200 million in a CHIPS Manufacturing USA Institute and up to $300 million in advanced packaging R&D.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 8:13 pm

SYBX

Synlogic Inc (NASDAQ:SYBX) stock plummeted by 48.4% to $1.78 after announcing the discontinuation of Synpheny-3, ceasing operations, and a workforce reduction of over 90%. The decision was based on an internal review suggesting the trial wouldn't meet its primary endpoint, not safety concerns. The company is exploring strategic options to enhance shareholder value, including potential acquisitions, mergers, or other transactions. Dr. Aoife Brennan, President and CEO, will leave, retaining only essential personnel for strategic review.

Portfolio Pulse from Henry Khederian

February 09, 2024 | 7:39 pm

DOOR

EMKR

INBS

NET

NWL

PLCE

SYBX

U.S. stocks showed mixed performance with the Nasdaq Composite rising by 1.26% and the S&P 500 gaining 0.55%, while the Dow slightly declined. Newell Brands Inc. reported higher than expected Q4 sales but forecasted a significant sales decline for FY24, impacting its stock. In other news, Intelligent Bio Solutions, Masonite International, and Cloudflare saw significant stock price increases following positive financial results and acquisition news. Conversely, The Children's Place, Synlogic, and EMCORE Corporation experienced substantial drops in their stock prices due to disappointing financial updates and operational changes.

Portfolio Pulse from Avi Kapoor

February 09, 2024 | 7:38 pm

DIA

ENPH

EXPE

NVDA

QQQ

SPY

The S&P 500 surpassed 5,000 points and the Nasdaq approached 18,000, marking a significant rally driven by optimism in artificial intelligence. NVIDIA Corp. saw a nearly 50% increase in its shares since the year's start, contributing to the 'Magnificent Seven's combined market cap of $13.2 trillion. Bitcoin also saw a notable rise, exceeding $47,000. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust saw varied movements, while sector and industry ETFs like the Technology SPDR Select Sector Fund and VanEck Semiconductor ETF experienced gains. Companies such as Enphase Energy Inc., First Solar Inc., and Cloudfare Inc. saw significant stock movements due to earnings and outlooks, whereas Expedia Group Inc. faced a downturn after a downgrade.

Portfolio Pulse from Piero Cingari

February 09, 2024 | 6:45 pm