Streetbeat News

Acquisitions Mergers

M

NIO

QLGN

XPEV

ZAPP

NIO Inc. (NYSE:NIO) shares fell 8.5% after the resignation of CFO Steven Wei Feng. Other notable movers include Qualigen Therapeutics, Inc. (NASDAQ:QLGN) up 120%, Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) up 70.5%, and Macy’s, Inc. (NYSE:M) up 10.4% due to an increased acquisition bid. XPeng Inc. (NYSE:XPEV) declined 10% after announcing vehicle delivery figures.

Portfolio Pulse from Avi Kapoor

July 05, 2024 | 4:59 pm

CZR

Caesars Entertainment has acquired sports betting technology company ZeroFlucs. ZeroFlucs will continue to operate under the leadership of Steve Gray and Carly Christensen.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:53 pm

INST

Instructure Holdings, Inc. (NYSE:INST) shares are trading higher following reports that KKR and Francisco Partners are competing to acquire the company. Although a sale is not certain, both firms are expected to submit offers next week. Thoma Bravo, which holds an 83% stake, may not agree to sell. All parties declined to comment.

Portfolio Pulse from Dylan Berman

July 05, 2024 | 3:22 pm

MMAT

Meta Materials' subsidiary, Nanotech Security Corp., has entered into an agreement to sell most of its authentication business assets to Authentix for $10 million. The deal excludes certain assets like cash and real property, with $3 million withheld for specific obligations. The transaction is subject to customary closing conditions and covenants.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:18 pm

GURE

Gulf Resources, Inc. (NASDAQ:GURE) shares are down 10.4% to $1.08 after announcing the acquisition of crude salt fields in China. The deal involves a $38.6 million investment, with 80% paid in cash and 20% in company shares. The acquisition aims to boost bromine production by 2025.

Portfolio Pulse from Henry Khederian

July 05, 2024 | 3:15 pm

LBTYA

Liberty Global is considering selling a stake in its Swiss telecom unit, Sunrise, ahead of a planned spin-off later this year. Talks have been held with several investors, including Swiss family offices. The spin-off is on track for the fourth quarter, with JP Morgan and UBS advising on the plans. Liberty Global plans to inject 1.5 billion Swiss francs into Sunrise to reduce leverage and has committed to a minimum dividend of 240 million Swiss francs. The enterprise value of Sunrise could be in the range of 8 to 9 billion Swiss francs.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

MICS

The Singing Machine Company, Inc. (NASDAQ:MICS) has completed the acquisition of SemiCab, an AI technology company in the global logistics space. The deal involves issuing 641,806 shares of MICS common stock and assuming $2.6 million in liabilities. Additionally, MICS will issue a 20% membership interest in its new subsidiary, SemiCab Holdings, and has an option to purchase SMCB Solutions Private Limited. MICS shares rose by 5.22% following the news.

Portfolio Pulse from Nabaparna Bhattacharya

July 05, 2024 | 3:02 pm

SNN

Smith & Nephew Plc (NYSE:SNN) shares surged after activist investor Cevian Capital took a 5% stake, aiming to improve the company's operating performance. The company has faced challenges, including a significant drop in market capitalization and supply chain issues. Despite these challenges, Smith & Nephew reported solid revenue growth in its Orthopaedics and Sports Medicine & ENT businesses for Q1 2024.

Portfolio Pulse from Vandana Singh

July 05, 2024 | 3:02 pm

INST

Instructure shares are trading higher following a Reuters report that KKR and Francisco Partners are competing to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

MDWD

SOLV

MediWound (MDWD) is reportedly being eyed by Solventum for a potential acquisition at $34 per share. This news has sparked interest among traders.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm