Streetbeat News

Acquisitions Mergers

DYN

Dyne Therapeutics is reportedly considering its options in response to takeover interest. The company, which is in the early stages of developing treatments for muscle diseases, has attracted attention from potential buyers. Dyne's shares have surged on the news, reflecting investor optimism about a possible acquisition deal.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:50 pm

DYN

Dyne Therapeutics is reportedly considering its options in response to takeover interest, leading to a trading halt on its shares due to a circuit breaker, as reported by Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:31 pm

JCI

Johnson Controls is reportedly considering the sale of some of its HVAC assets, which could be valued at around $5 billion, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:23 pm

TSLA

Wedbush analyst Daniel Ives lowered Tesla's price target from $350 to $315 and removed it from the Best Ideas List after a disappointing Q4 report and vague 2024 guidance. Ives criticized Tesla's earnings call and suggested a 10-point plan to improve share performance, including a $10 billion buyback, a new 'X Holding' structure for AI initiatives, maintaining automotive margins, hosting an AI Day, securing outside capital for X/Twitter, a new CEO compensation package, setting a Model 2 production timeline, returning to formal guidance, AI acquisitions, and setting long-term AI targets.

Portfolio Pulse from Chris Katje

January 26, 2024 | 6:15 pm

SSYS

Farhad Fred Ebrahimi has reported a 5.13% ownership stake in Stratasys, according to a 13D filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 5:53 pm

AAL

AMSC

DWAC

LVTX

VERA

Benzinga's Stock Whisper Index highlighted five stocks: AAL, DWAC, VERA, AMSC, and LVTX. AAL reported strong Q4 results, beating estimates and receiving analyst upgrades, with shares up 13% in five days. DWAC shares hit two-year highs after Trump's primary wins and DeSantis' endorsement, with a SPAC merger deadline extended to March 8, 2024. VERA shares soared after positive Phase 2b trial results, leading to analyst upgrades and a 95% weekly gain. AMSC reported a 60% YOY revenue increase in Q3 and strong demand for new energy power systems. LVTX shares rose 40% after announcing a clinical trial collaboration with MRK for a prostate cancer treatment.

Portfolio Pulse from Chris Katje

January 26, 2024 | 4:50 pm

AAL

DAL

JBLU

LUV

SAVE

UAL

Spirit Airlines (NYSE:SAVE) stock dropped 18% on Friday after JetBlue Airways (NASDAQ:JBLU) reported it could not meet all conditions of their $3.8 billion merger deal by the deadline. The deal, which faces antitrust challenges, may be terminated after January 28, 2024. Spirit's shares have fallen over 60% since the antitrust ruling. JetBlue would owe Spirit $70 million or $400 million to shareholders if the merger fails. Spirit anticipates Q4 2023 revenue at the high end of guidance, expecting $1.32 billion against a $1.31 billion consensus. As of December 31, 2023, Spirit had $1.3 billion in liquidity.

Portfolio Pulse from Anusuya Lahiri

January 26, 2024 | 4:41 pm

MOR

Traders are circulating merger and acquisition (M&A) chatter regarding MorphosSys, which may affect the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 4:11 pm

HUT

Hut 8 Corp. (NASDAQ:HUT) shares are rising after the announcement of its CCO Matt Prusak's departure to become CEO of a new bitcoin mining company formed from Celsius Network LLC's bankruptcy. Hut 8 will provide managed services for this new company's operations in Texas. The company also responded to a short-seller report from J Capital Research, claiming it aims to harm Hut 8's share price. Additionally, Hut 8's stock movement may correlate with Bitcoin's price changes.

Portfolio Pulse from Erica Kollmann

January 26, 2024 | 3:52 pm

MSFT

TSLA

Elon Musk's AI company, xAI, is reportedly in talks to raise $6 billion, potentially valuing it at $20 billion. Morgan Stanley is assisting with the fundraising. xAI, with team members from OpenAI, Google Research, Microsoft Research, and DeepMind, is expanding AI efforts with projects like Grok. The funding could face scrutiny due to geopolitical concerns. Musk's wealth has decreased by $30.9 billion in 2024, but he remains the richest person with a $198 billion net worth. He also plans to increase his Tesla stake to 25% for AI integration.

Portfolio Pulse from Chris Katje

January 26, 2024 | 3:30 pm