Streetbeat News

Acquisitions Mergers

HOLI

Hollysys Automation Technologies has rejected a takeover proposal from Dazheng Investment Group due to concerns over financing and instability in the consortium. The Special Committee of Hollysys endorses the deal with Ascendent, challenging the recommendations of proxy advisory firms ISS and Glass Lewis. Hollysys plans to release updated proxy materials detailing recent engagement with Dazheng.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 6:45 am

DISH

SATS

EchoStar has terminated the exchange offers and consent solicitations for DISH DBS's senior notes. Holders of the Existing DBS Notes who tendered their notes will not receive the exchange consideration and their notes will be returned. This termination does not affect EchoStar's ongoing exchange offers for DISH Network Corporation's convertible notes due in 2025 and 2026.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 6:38 am

BYDDY

TSLA

BYD Co Ltd, backed by Warren Buffett, is preparing for intense competition in China's EV market and is open to collaboration with Tesla Inc. BYD has outperformed Tesla in vehicle production in 2023 and expects tough competition to lead to the elimination of weaker brands within two to three years. BYD's GM of Branding and PR, Yunfei Li, praised Tesla and suggested cooperation to grow the EV market. Tesla's CEO Elon Musk confirmed BYD as a supplier. BYD anticipates being profitable amidst competition and has invested heavily in vehicle intelligence and NEV evolution. The company expects a significant profit increase for the last year, while Tesla saw a 15% gross profit decline in 2023. Berkshire Hathaway has reduced its stake in BYD.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 5:32 am

ARKB

TSLA

TWLO

Cathie Wood's Ark Invest has purchased $3.3 million worth of Tesla Inc (TSLA) shares and $2.8 million worth of ARK 21Shares Bitcoin ETF (ARKB) units. The firm also sold shares of Twilio Inc (TWLO) and PagerDuty Inc (PD). These transactions reflect Ark Invest's strategy of focusing on disruptive innovation and its confidence in Tesla and cryptocurrency, despite recent market challenges and a Q4 earnings miss for Tesla.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 3:29 am

AMZN

MSFT

SMCI

SOFI

TSLA

On Monday, U.S. stocks closed higher with Microsoft, Super Micro Computer, SoFi Technologies, Amazon, and Tesla gaining investor attention. Microsoft rose 1.43% ahead of its Q2 financial results. Super Micro's shares surged 4.54% after reporting strong quarterly sales and earnings. SoFi Technologies jumped 20.21% on increased adjusted revenue and new member additions. Amazon closed up 1.78% following the termination of its merger with iRobot. Tesla's shares increased by 4.19% amid news of Chair Robyn Denholm's stock sale plan.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 1:58 am

Irenic Capital Management has disclosed a 5.1% ownership stake in Barnes Group, as reported in a 13D filing with the SEC.

Portfolio Pulse from Charles Gross

January 29, 2024 | 10:20 pm

ABBV

IMGN

ImmunoGen announced that the German Federal Cartel Office has unconditionally approved its merger with AbbVie Inc, as per a recent SEC filing. This regulatory approval is a significant step towards finalizing the merger between the two companies.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:05 pm

GILD

RCUS

Gilead Sciences, Inc. has increased its investment in Arcus Biosciences by purchasing additional common stock worth $320 million at $21.00 per share, raising its ownership stake to 33%. This investment emphasizes the companies' commitment to the TIGIT pathway and aims to expedite the development of the Anti-TIGIT program. Gilead also secured an additional seat on the Arcus board as part of the amended collaboration.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:04 pm

ABAT

PLL

UAMY

TD Cowen downgraded Piedmont Lithium Inc. (PLL) from Outperform to Market Perform. President Biden's advisors support union jobs and U.S. steel manufacturing, affecting U.S. Steel Corporation's (X) deal with Nippon Steel. An investigation into the fairness of the deal's terms for U.S. Steel shareholders is underway. United States Antimony Corporation (UAMY) appointed Jeffrey Fink as VP and General Manager of its Bear River Zeolite operation, anticipating production improvements. American Battery Technology Company (ABAT) will discuss battery recycling at the Bloomberg New Energy Finance Summit.

Portfolio Pulse from Austin DeNoce

January 29, 2024 | 9:34 pm

UHG

United Homes Group (UHG) has acquired the homebuilding business of Creekside Custom Homes. The financial terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:33 pm