Streetbeat News

Acquisitions Mergers

WDS

Woodside Energy Group Ltd (WDS) has ended discussions about a potential merger with Santos Ltd, emphasizing its commitment to pursuing only value-accretive transactions for its shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 7:08 am

JAZZ

Jazz Pharmaceuticals (NASDAQ:JAZZ) has signed a definitive agreement to acquire the global rights to Redx Pharma's KRAS inhibitor program for an upfront payment of $10M and up to $870M in earnouts. The deal includes collaboration on IND-enabling studies, with Jazz handling clinical development, regulatory, manufacturing, and commercialization. The agreement also involves potential milestone payments and royalties to Redx based on future net sales.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 7:07 am

BTCUSD

ARK Invest CEO Cathie Wood predicts a continued shift of investors from gold to Bitcoin, citing the launch of spot Bitcoin ETFs as a facilitator. She highlighted Bitcoin's resilience and role as a haven during financial turbulence, such as the March 2023 regional bank crisis in the US. ARK Invest launched the ARK 21Shares Bitcoin ETF on January 11. Bitcoin's price was slightly up in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

February 07, 2024 | 5:46 am

ARVLF

Arrival SA (OTC:ARVLF), an electric vehicle maker, has appointed EY as administrator for its UK subsidiaries, Arrival UK Ltd and Arrival Automotive UK Limited, to explore selling its business and assets due to failure in acquiring necessary rescue funds. The company ended the first half of 2023 with $43 million in cash and a loss of $155.7 million. Arrival was delisted from Nasdaq on January 30 for delaying its interim financial statement filings.

Portfolio Pulse from Anan Ashraf

February 07, 2024 | 3:12 am

COIN

MARA

MSTR

RIOT

Major cryptocurrencies surged following MicroStrategy Inc's announcement of acquiring an additional 850 BTC, boosting its holdings to 190,000 BTC. The company's stock, along with Coinbase, Riot Platforms, and Marathon Digital, experienced growth. Analysts predict a period of consolidation for Bitcoin, with Ethereum expected to outperform due to upcoming upgrades and significant ETH withdrawals from exchanges indicating strong holder sentiment.

Portfolio Pulse from Mehab Qureshi

February 07, 2024 | 2:51 am

ARKF

ARKK

ARKQ

ARKW

PLTR

Cathie Wood's Ark Invest purchased $43M worth of Palantir Technologies, Inc. (PLTR) shares following a 30% spike after Q4 earnings, reflecting confidence in its AI potential. Ark's ETFs ARKK, ARKW, and ARKF increased their holdings, with PLTR now accounting for significant weightings in these funds. Analysts have upgraded PLTR's ratings and price targets post-earnings. Additionally, Ark continued buying Tesla shares, with ARKK, ARKW, and ARKQ acquiring more Tesla stock.

Portfolio Pulse from Shanthi Rexaline

February 07, 2024 | 2:43 am

ARKK

COIN

HOOD

ROKU

TSLA

Ark Invest, led by Cathie Wood, has reportedly lost over $14 billion in wealth over the past decade, largely due to a 67% drop in its flagship fund, ARK Innovation ETF (ARKK), during the 2022 bear market. Despite these losses, Ark Invest continues to manage over $13 billion in assets. The firm's top holdings, including Coinbase (COIN), Tesla (TSLA), Roku (ROKU), and Zoom (ZM), have faced challenges in 2024. However, Ark Invest has made significant purchases in Tesla and Robinhood (HOOD) shares, indicating confidence in these companies.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 2:17 am

FEAM

HCC

LYSCF

5E Advanced Materials supports adding boron to the U.S. Critical Mineral List, highlighting its strategic importance for energy and defense. Lynas Rare Earths ends discussions with MP Materials regarding a potential transaction. Warrior Met Coal publishes its 2023 sustainability report, showcasing significant improvements in safety and emissions reductions.

Portfolio Pulse from Austin DeNoce

February 06, 2024 | 11:44 pm

CCJ

CCORF

DNN

FCUUF

Fission Uranium (OTC:FCUUF) is raising CA$75 million through the sale of 65.6 million shares at CA$1.18 each to fund its Patterson Lake South uranium project in Saskatchewan, Canada. Canaccord Genuity (OTCPK:CCORF) and SCP Resource Finance are leading the deal, expected to close on Feb. 12. The project, in a region known for uranium production, shows a 27.2% internal rate of return from a feasibility study. Cameco (NYSE:CCJ) and Denison Mines (AMEX:DNN) also operate major mines in the area. Fission's stock fell 10% after the announcement.

Portfolio Pulse from Stjepan Kalinic

February 06, 2024 | 10:19 pm

HUT

Hut 8 Corp. (HUT) reported its January 2024 operations update, highlighting a multi-year managed services agreement with Ionic Digital, significant Bitcoin holdings of 9,116 BTC, and operational efficiencies improvements. The company announced the termination of managed services in Kearney, Nebraska, and Granbury, Texas, with a $13,568,000 termination fee. Pre-construction work is underway at a new site in Culberson County, Texas. Hut 8's digital asset mining operations span several sites across North America, with a focus on self-mining, managed services, and hosting.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 10:08 pm