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Acquisitions Mergers

NIO

TSLA

Huawei Technologies Co plans to install 100,000 superfast EV charging stations across China by 2024, aiming to outpace Tesla Inc in the EV sector. These chargers, with 600kW power efficiency, surpass Tesla's 250kW superchargers and are universally compatible with all EVs, including Tesla's. This move could intensify competition in the auto market and challenge Tesla's dominance in the EV charging domain. Tesla's shares traded higher by 1.19% at $189.81 premarket on the last check Thursday.

Portfolio Pulse from Anusuya Lahiri

February 08, 2024 | 2:26 pm

ABVC

ABVC BioPharma has completed the acquisition of land valued at $2.96 million in Asia. The deal involved an equity transfer priced at $3.50 per share.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 2:21 pm

SGD

Safe and Green Development Corporation (SGD) has acquired XENE Real Estate AI Software for $500,000 in cash, paid over five quarters, and 500,000 shares valued at $1.075 million, or $2.15 per share. Matthew Barstow, CEO & President of MWH, will join SGD as Senior Vice President of Innovation.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 2:07 pm

CARR

CLS

DWAC

FIX

PDD

TSM

Jim Cramer shared his views on several companies, highlighting Trane Technologies (TT) and Carrier (CARR) as his preferences in the HVAC sector, with Carrier being undervalued. He was less enthusiastic about Digital World Acquisition Corp. (DWAC), describing it as a political stock. Taiwan Semiconductor (TSM) was praised for its strong performance, especially in AI chips, despite a decline in consumer electronics. Celestica (CLS) was noted for its positive financial results and outlook, similar to its peers Jabil (JBL) and Sanmina (SANM). PDD Holdings (PDD) was mentioned as a trade option due to potential Chinese market stimulus. Comfort Systems USA (FIX) was also discussed, with recent acquisitions noted. The article also reported on the recent stock movements of these companies.

Portfolio Pulse from Avi Kapoor

February 08, 2024 | 1:56 pm

ARM

TENX

UAVS

Tenax Therapeutics announced a $9 million public offering, leading to a 65.6% drop in shares. AgEagle shares surged 50% after securing a contract for drones with the U.S. Department of Energy Laboratory. Arm reported strong Q3 results and optimistic Q4 and FY24 guidance, causing a 40% increase in shares.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 1:51 pm

OMH

Ohmyhome Ltd. (NASDAQ:OMH) announced significant growth following its acquisition of Simply Sakal Pte. Ltd., now Ohmyhome Property Management. The acquisition has expanded Ohmyhome's services, adding a non-cyclical recurring revenue stream with 6,746 units under management and an ARR of over $2.7M. The integration into the Simple App allows entry into the private condominium market, potentially increasing revenue per transaction. New IoT solutions for vehicle management in condominiums have been introduced, enhancing property management efficiency.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 1:50 pm

AMZN

BABA

GOOG

GOOGL

Alibaba Group Holding Limited (NYSE:BABA) stock is trading lower, down by 2.10% in premarket trading on Thursday, following its third-quarter results release. The company reported a 5% year-on-year revenue growth to $36.67 billion, slightly missing the consensus of $36.74 billion, and adjusted earnings per ADS of $2.67, below the consensus of $2.69. Additionally, Alibaba announced a $25 billion increase in its share repurchase program but also shelved IPOs for its logistics arm, Cainiao Smart Logistics, and Freshippo due to intense domestic competition and a recent recovery from a regulatory crackdown. The company underwent significant restructuring, splitting into six units and announcing layoffs of 20,000 positions, aligning with trends seen in other Big Tech firms like Amazon and Alphabet.

Portfolio Pulse from Anusuya Lahiri

February 08, 2024 | 1:47 pm

MPWR

Monolithic Power Systems, Inc. (NASDAQ:MPWR) exceeded fourth-quarter earnings and sales expectations, raised its quarterly dividend from $1 to $1.25, and announced the acquisition of Axign B.V. Shares rose 2% to $645.41. Keybanc and Needham increased their price targets for MPWR following the earnings report.

Portfolio Pulse from Avi Kapoor

February 08, 2024 | 1:46 pm

CNM

Core & Main Inc. (NYSE:CNM) announced Stephen O. LeClair as the new chairman of the board, effective immediately, while also serving as CEO. James G. Castellano and Kathleen M. Mazzarella take on new board roles. Affiliates of Clayton, Dubilier & Rice (CD&R) resigned from the board following the sale of their remaining stake in Core & Main in January 2024. The company emphasizes its focus on local service, profitable growth, strong cash flow, and delivering value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 1:45 pm

ARRV

BRSH

Arrive Partners has signed an agreement with AllMart Marketplace to deploy smart mailboxes in Antigua, with autonomous delivery testing to follow in the second half of 2024. Additionally, Arrive and Brüush have entered into a merger agreement, planning a reverse triangular merger in an all-stock transaction. The merged entity, to be named Arrive Technology Inc., will focus on Arrive's smart Mailbox-as-a-Service platform, aiming for a Nasdaq listing under the ticker 'ARRV'. The merger is expected to close in Q2 2024, pending customary conditions.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 1:45 pm