Streetbeat News

Acquisitions Mergers

SLI

Standard Lithium Ltd. is progressing with its South West Arkansas Lithium Project by selecting a firm to conduct a Definitive Feasibility Study (DFS) and Front-End Engineering Design (FEED). This step is crucial for the project's development, as it will provide detailed engineering and cost estimates necessary for construction and operations. The advancement of the project is a positive move for Standard Lithium, indicating its commitment to moving forward with lithium production in Arkansas.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:38 am

ORTX

Kyowa Kirin has successfully completed the acquisition of Orchard Therapeutics, making it a wholly-owned subsidiary as of January 24, 2024, through a Scheme of Arrangement under the UK Companies Act 2006.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:34 am

JEF

TVAVF

Bill Ackman and Neri Oxman have acquired a 5% stake in the Tel Aviv Stock Exchange Ltd (TVAVF) for $17 million. This is Ackman's first major investment in Israel amid the conflict with Hamas. The Tel Aviv Stock Exchange confirmed the sale of an 18.5% stake to investors, with Ackman and Oxman being the only named buyers in the deal arranged by Jefferies Financial Group Inc. (JEF). Ackman has been addressing the rise in antisemitism and controversies involving Oxman's academic work. Despite these issues, Ackman's Pershing Square Capital Management reported a strong performance in 2023 with a 26.7% return.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 8:00 am

The USPS showcased its new fleet of electric delivery vehicles from Ford Motor Co at the South Atlanta Sorting and Delivery Center. The USPS plans to procure 21,000 EVs, including 9,250 from Ford, to achieve a target of 66,000 EVs by 2028. The Ford EVs have three times the capacity of current vehicles and will start operations in Georgia. Siemens, Rexel/Chargepoint, and Blink will supply the first 14,000 EV chargers for USPS's new sorting and delivery centers.

Portfolio Pulse from Anan Ashraf

January 24, 2024 | 7:22 am

BABA

PDD

SFBQF

Jack Ma and Joe Tsai have become the largest shareholders of Alibaba Group Holding Ltd (NYSE:BABA), surpassing SoftBank Corp (OTC:SFBQF). Ma increased his stake to over 4.3% by purchasing $50 million worth of shares, while Tsai bought 1.957 million shares through Blue Pool Management. Their combined stake now exceeds that of SoftBank, which has reduced its stake to less than 0.5%. Alibaba's stock price, which had dropped by 11% in Q4 2023, saw a resurgence of over 7% following the co-founders' investments, signaling their confidence in the company's future.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 4:58 am

AAPL

AMZN

GOOG

GOOGL

META

MSFT

Alphabet Inc. has ended its contract with Appen, the AI firm that has been instrumental in training Google's Chatbot Bard and contributing to Google Search results. This decision, effective March 19, follows a strategic review by Alphabet and will impact around two thousand subcontracted workers. Appen, which has been facing challenges such as client attrition and declining financials, relied on Alphabet for about one-third of its revenue. Alphabet's move aligns with its focus on developing proprietary AI technology, amidst defending a $7 billion lawsuit over AI patent infringement.

Portfolio Pulse from Ananya Gairola

January 24, 2024 | 3:45 am

BTCUSD

DOGEUSD

ETHUSD

GBTC

Cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) are in decline, partly due to institutional sales from ETFs. Grayscale's GBTC has seen significant outflows since converting to a spot Bitcoin ETF, with FTX's bankruptcy estate selling a large portion of its GBTC shares. Analysts predict a massive correction for Bitcoin, while some assets like Bitcoin Cash and Loopring are being actively shorted on Binance. The S&P 500 and Nasdaq hit new highs, and key economic indicators are expected later this week.

Portfolio Pulse from Mehab Qureshi

January 24, 2024 | 3:37 am

BABA

DWAC

NFLX

NVVE

TSLA

U.S. indices showed mixed results with the Dow Jones down, while the S&P 500 and Nasdaq rose. Netflix reported a revenue beat with subscriber growth, despite missing EPS estimates. Digital World Acquisition surged after Trump's primary win. Alibaba rallied after China's stimulus announcement. Nuvve Holding soared on a fleet electrification project. Tesla saw a slight increase ahead of its earnings report.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 1:59 am

AMZN

MrBeast is close to finalizing a $100M deal with Amazon (AMZN) for a competition series on Prime Video. The show, pitched to various platforms, will premiere its first episode on MrBeast's YouTube channel, with subsequent episodes on Prime Video. The series will feature brand collaborations, which may help Amazon offset production costs. MrBeast's other ventures include Beast Burger, Juice Funds, Feastables, cryptocurrency investments, and involvement in crypto companies like Refinable and Coinbase.

Portfolio Pulse from Franca Quarneti

January 23, 2024 | 11:40 pm

CMCSA

DIS

EDR

FOX

NFLX

TKO

Dwayne Johnson, also known as 'The Rock', has joined the Board of Directors of TKO Group Holdings, the parent company of WWE and UFC. TKO announced a 10-year, $5 billion deal with Netflix for exclusive streaming rights to WWE content starting in 2025. Johnson will gain ownership of his trademarked name 'The Rock' and receive restricted stock awards up to $30 million. TKO is majority owned by Endeavor Group Holdings. Johnson's involvement could lead to synergies with his other investments and brand partnerships, including Under Armour and the United Football League, which has media deals with Disney and Fox Corporation.

Portfolio Pulse from Chris Katje

January 23, 2024 | 10:55 pm