Streetbeat News

Acquisitions Mergers

ANSS

CVS

GILD

QQQ

REGN

SNPS

SPY

Marc Chaikin, CEO of Chaikin Analytics, believes the 'buy everything' market sentiment is over due to the Federal Reserve's stance on interest rates. He predicts a stock picker's market for 2024, with a bullish outlook on stocks, particularly in the tech and biotech sectors. Synopsys (SNPS) is highlighted for its merger with Ansys (ANSS) and its potential value despite recent share price declines. Chaikin also sees opportunities in biotech companies like Gilead Sciences (GILD) and Regeneron Pharmaceuticals (REGN), as well as CVS Health Corp (CVS).

Portfolio Pulse from Neil Dennis

January 18, 2024 | 8:54 pm

CMI

PCAR

Accelera by Cummins (NYSE:CMI), Daimler Truck, and PACCAR (NASDAQ:PCAR) have chosen Mississippi for a new battery cell production facility for commercial electric vehicles. The joint venture, which also includes technology partner EVE Energy, is expected to create over 2,000 jobs and start production in 2027. The factory will focus on lithium-iron-phosphate (LFP) battery technology and is part of the companies' commitment to zero-emissions and the Paris Climate Agreement. The deal is pending regulatory approvals, including CFIUS.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 8:52 pm

MSFT

NTDOY

SONY

Microsoft CEO Satya Nadella is optimistic about the Activision acquisition, seeing it as an opportunity for Microsoft to become a 'good publisher' on multiple platforms, including Sony and Nintendo consoles. The deal enhances Microsoft's gaming portfolio with major franchises and supports its cross-platform strategy. Nadella's comments suggest a focus on broad distribution, including potential releases of some Xbox exclusives on rival consoles after initial exclusivity periods.

Portfolio Pulse from Franca Quarneti

January 18, 2024 | 7:37 pm

COIN

The SEC approved 11 spot Bitcoin ETFs, which are expected to attract new investors to Bitcoin. Coinbase (NASDAQ:COIN) is the custodian for 10 out of the 13 Bitcoin ETF applications, playing a crucial role in their operation. Coinbase's reputation for security and low transaction fees makes it a trusted custodian for these ETFs. The approval of Bitcoin ETFs could lead to further spot ETFs for other cryptocurrencies, potentially expanding Coinbase's custodial role.

Portfolio Pulse from Caden Pok

January 18, 2024 | 7:35 pm

AGFY

ARAV

EHTH

MDC

MTB

PCSA

RAMP

U.S. stocks traded higher, with the Dow Jones gaining over 100 points. M&T Bank Corporation (NYSE:MTB) reported Q4 earnings below expectations at $2.81 per share against estimates of $3.49 per share, though sales slightly exceeded expectations. Agrify Corporation (NASDAQ:AGFY) surged 18% after announcing a sales agreement. M.D.C. Holdings, Inc. (NYSE:MDC) jumped 18% due to acquisition news by Sekisui House. LiveRamp Holdings, Inc. (NYSE:RAMP) gained 9% after announcing an acquisition and preliminary revenue results. Aravive, Inc. (NASDAQ:ARAV), Processa Pharmaceuticals, Inc. (NASDAQ:PCSA), and eHealth, Inc. (NASDAQ:EHTH) saw significant stock declines.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 7:25 pm

DFS

HTZ

KEY

NVCR

TLT

TSLA

USO

U.S. stocks showed mixed performance with tech leading due to AI optimism. Labor data indicated a strong job market. Fed's Bostic suggested rate cuts could start in Q3 if inflation slows. The dollar and Treasury yields rose, while bonds and Bitcoin fell. Oil prices increased after the IEA raised its demand forecast. Major indices and ETFs had varied results, with tech and semiconductors gaining, while utilities and real estate declined. Notable stock movements included NovoCure, Hertz, Tesla, and various chipmakers, while Discover Financial and KeyCorp dropped after earnings misses.

Portfolio Pulse from Piero Cingari

January 18, 2024 | 7:22 pm

AREN

Arena Group Holdings Inc is currently in active negotiations with Bridge Media Networks, LLC. The discussions are focused on potential business dealings, although the specifics of the negotiations have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:33 pm

NSC

Traders are circulating a note from an M&A research firm suggesting that an activist could be involved with Norfolk Southern, which has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:33 pm

AREN

The Arena Group (NYSE:AREN) announced a workforce reduction of over 100 employees as part of a strategic move to transform its business model. The company is dealing with substantial debt and has missed payments recently. These cost-cutting measures are being taken to streamline operations. Concurrently, The Arena Group is negotiating with Bridge Media Networks, LLC, a subsidiary of Simplify Inventions, LLC, for a transaction that includes a significant investment, expected to close in early 2024. Jason Frankl of FTI Consulting has been appointed as Chief Business Transformation Officer to oversee the transition and focus on financial stability and growth.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:31 pm

JBLU

SAVE

Spirit Airlines Inc (NYSE:SAVE) is facing financial challenges after a federal judge blocked its $3.8 billion merger with JetBlue Airways Corporation (NASDAQ:JBLU) due to antitrust concerns. Spirit is dealing with near-term debt maturities of about $1.1 billion due in September 2025 and is exploring options to refinance the debt. The company has sold and leased back planes to improve its balance sheet, but its stock and bonds have declined significantly, with shares down over 60%. Spirit also contends with rising labor costs, competition, and grounded planes due to engine recalls.

Portfolio Pulse from Vandana Singh

January 18, 2024 | 6:13 pm