Streetbeat News

Acquisitions Mergers

CTLT

Catalent shares are trading higher following the announcement that it will be acquired by Novo Holdings.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 2:12 pm

SGD

Safe and Green Development Corporation (NASDAQ:SGD) has agreed to sell its St Mary's property to Pigmental Studios for $1.35 million. The sale is part of SGD's strategy to monetize its real estate holdings, demonstrating the increased value of its properties. The transaction, expected to close by April 1st, 2024, will strengthen SGD's balance sheet and support its ongoing and future projects.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 2:10 pm

ITT

ITT Inc. has signed a three-year agreement with ExxonMobil for the supply of API-610 centrifugal pump systems and related services, with a minimum commitment of $50M and potential to reach $80M in revenue. This marks the largest contract for Goulds Pumps, a part of ITT's Industrial Process segment. The deal aims to support ExxonMobil's operations in North America, leveraging ITT's technology to enhance efficiency and reduce costs. ITT's IP segment, a leader in pump and valve technologies, has recently expanded through acquisitions, including Habonim and Svanehøj.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 2:06 pm

YCBD

cbdMD, Inc. (YCBD) has secured $1.2M in financing from institutional investors for the national rollout of its new ATRx Labs functional mushroom products. The funds will be used for working capital. This follows the company's introduction of Apple Cider Vinegar and Immunity Gummy Pouches at Sprouts Farmers Market. The financing involves convertible promissory notes with a conversion price of $0.684 per share. cbdMD is expanding its product channels, including a planned launch into Amazon UK in 2024.

Portfolio Pulse from Jelena Martinovic

February 05, 2024 | 2:06 pm

AJG

Arthur J. Gallagher & Co. has acquired John Galt Insurance Agency, although the financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 2:01 pm

ADSK

Autodesk, Inc. (ADSK) has announced its intention to acquire the PIX business of X2X. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 2:01 pm

AAPL

NVDA

Huawei Technologies Co has shifted its focus towards AI, impacting its Mate 60 smartphone production, to compete with Nvidia Corp's AI chips, particularly in the Chinese market. Nvidia has launched the H20 AI chip, priced between $12,000 and $15,000, to compete with Huawei's 910B chip. The U.S. has tightened AI chip sales to China, prompting a shift towards domestic options like Huawei's Ascend series. Despite challenges, Huawei leads Chinese smartphone sales, and Nvidia's shares rose by 3.07% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 05, 2024 | 1:58 pm

PET

Wag! has acquired WoofWoofTV, although the terms of the acquisition have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:56 pm

VALN

Valneva SE (NASDAQ:VALN) sold an FDA Priority Review Voucher for $103 million, awarded for the approval of Ixchiq, the first licensed chikungunya vaccine. The proceeds will fund R&D, including Phase 3 Lyme disease vaccine trials and further chikungunya vaccine trials. Valneva reported positive 24-month antibody persistence data for Ixchiq. The global market for chikungunya vaccines is expected to exceed $500 million annually by 2032. VALN shares are down 1.11% in premarket trading.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 1:55 pm

ABBV

AbbVie Inc (NYSE:ABBV) reported Q4 earnings surpassing expectations with adjusted EPS of $2.79 and net revenues of $14.301 billion. The company also completed the acquisition of ImmunoGen, enhancing its cancer therapy portfolio. AbbVie raised its long-term revenue outlook for Skyrizi and Rinvoq, expecting over $27 billion by 2027. Analysts from Barclays and Raymond James increased their price targets for AbbVie following these results. AbbVie's stock rose 0.6% to close at $168.67.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 1:50 pm