Streetbeat News

Acquisitions Mergers

DKNG

PENN

Barstool Sports is in advanced talks with DraftKings for a sports betting marketing partnership, post-separation from Penn Entertainment. The deal, not yet signed, could be worth low eight figures annually for Barstool. Penn sold Barstool back to founder Dave Portnoy for $1 after an $850 million write-off. Barstool is restricted from betting deals until post-Super Bowl due to a lock-up clause. DraftKings, which spent $1.19 billion on marketing in 2022, ended its ESPN deal as ESPN launched ESPN Bet with Penn.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 4:54 pm

DTST

Data Storage Corporation (NASDAQ:DTST) has won a significant contract with a multinational telecommunications company to upgrade and maintain their backup technology. This contract builds on a 12-year relationship, enhancing storage capacity and compliance across multiple countries.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 4:50 pm

ACN

Accenture (NYSE:ACN) and Mujin have formed a joint venture, Accenture Alpha Automation, focusing on AI and robotics for the manufacturing and logistics industries. The JV, 70% owned by Accenture and 30% by Mujin, aims to integrate operational and management data to enhance data-driven management. Mujin's intelligent robotics platform will be combined with Accenture's Industry X expertise to create solutions that connect manufacturing and logistics data with business management data. The JV will start operations on January 15, 2024, in Tokyo. Additionally, Accenture has invested in Mujin through Accenture Ventures, marking its first Project Spotlight investment in Asia.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 4:30 pm

EVAX

MRK

Evaxion Biotech's stock price increased following a 13G filing that revealed Merck & Co now holds an 11.4% stake in EVAX as of December 21, 2023. Additionally, EVAX announced an expanded commitment to developing tailored cancer vaccines.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 4:19 pm

BOX

Box, Inc. has acquired Crooze, a provider of no-code enterprise content management applications. Crooze's technology, including a no-code app builder and metadata tools, will be integrated into Box's Content Cloud to modernize enterprise content management (ECM) and enhance business processes like contract management and digital asset management. The acquisition aims to leverage AI and metadata to transform ECM, with Box continuing to offer Crooze products and planning to announce new capabilities later this year. The ECM market is expected to grow from $15.1 billion in 2022 to $23.8 billion in 2027.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 4:00 pm

NXU

Nxu, Inc. (NASDAQ:NXU) has secured two patents for its NxuOne™ EV Charging Solutions, enhancing its intellectual property portfolio. The patents cover a locking mechanism for the charging handle and a thermal management solution for EV batteries. Nxu is expanding its charging infrastructure, with announced locations in Arizona and California, and is actively seeking business partners for deployment.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 3:59 pm

WBA

Walgreens Boots Alliance Inc (NASDAQ:WBA) is exploring options for its specialty pharmacy business, Shields Health Solutions, which could lead to a sale exceeding $4 billion. This move is part of Walgreens' turnaround strategy to improve its financial situation. The company has engaged advisers to gauge interest from private equity and healthcare firms, although a final decision has not been made. Walgreens has faced a 38% decline in share value over the past year and has implemented cost-cutting measures, including halving its dividend and considering the sale of its international Boots chain.

Portfolio Pulse from Vandana Singh

January 24, 2024 | 3:44 pm

AAPL

AMD

AMZN

EBAY

GBTC

GOOGL

LMT

NFLX

TSLA

TXN

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are in the red, with Grayscale Bitcoin Trust (GBTC) continuing to bleed. Netflix hints at future price hikes. Texas Instruments reported Q4 results alongside other stocks moving lower in pre-market. US and world politics feature Trump and Biden's remarks, Turkey's NATO move, and North Korea's missile tests. China urges hedge funds to limit short selling. Tech companies like eBay, AMD, ASML, SAP, Amazon, Apple, and Alphabet see various developments. Electric vehicle news includes Tesla's upcoming earnings and job openings, Polestar, and Ford's USPS fleet. Netflix may raise prices and is praised for Q4 results. Lockheed Martin and Boeing face challenges in the industrial sector.

Portfolio Pulse from Akanksha Bakshi

January 24, 2024 | 3:32 pm

ANVS

DWAC

EVAX

GETR

NFLX

SPRC

U.S. stocks opened higher with the Dow Jones gaining over 100 points. Netflix, Inc. (NASDAQ:NFLX) reported Q4 sales that exceeded expectations, with revenue of $8.83 billion and 13.12 million new subscribers, despite missing EPS estimates. Getaround, Inc. (NYSE:GETR) surged 155% after announcing a debt facility with Mudrick Capital. Evaxion Biotech (NASDAQ:EVAX) rose 72% due to Merck's 11.4% stake. SciSparc Ltd. (NASDAQ:SPRC) gained 45% after revealing a $20 million equity purchase agreement. Digital World Acquisition Corp. (NASDAQ:DWAC) fell 14% amid its merger with Trump Media. Annovis Bio, Inc. (NASDAQ:ANVS) dropped 15% after postponing Phase III study data. DuPont de Nemours, Inc. (NYSE:DD) declined 12% after preliminary results and guidance. Oil and gold prices increased, while Asian markets closed mostly higher.

Portfolio Pulse from Avi Kapoor

January 24, 2024 | 2:43 pm

BABA

BIDU

EWH

FLHK

FXI

Chinese equities surged following Beijing's financial stimulus and short selling restrictions. The PBOC cut the reserve requirement ratio by 50 basis points, releasing 1 trillion yuan into the market. The CSRC is discouraging short selling in stock index futures. Alibaba's shares rose after insider purchases, and the iShares MSCI Hong Kong Index Fund's forward P/E ratio is at 11x. The Hang Seng Index and CSI 300 Index rallied, and premarket trading saw increases in FLHK, EWH, and FXI ETFs, as well as BABA and BIDU stocks.

Portfolio Pulse from Piero Cingari

January 24, 2024 | 2:23 pm