Streetbeat News

Acquisitions Mergers

MDC

M.D.C. Holdings, Inc. (NYSE:MDC) shares rose by approximately 17% in pre-market trading after announcing an acquisition agreement with Sekisui House, Ltd., where a subsidiary of Sekisui House will acquire MDC for $4.9 billion in cash. Other stocks experienced significant movement in pre-market trading, with notable gainers including Lytus Technologies Holdings PTV. Ltd. (LYT) and Marpai, Inc. (MRAI), and losers such as Aravive, Inc. (ARAV) and Nuvve Holding Corp. (NVVE).

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 12:52 pm

IINX

Ionix Technology has announced a definitive agreement to acquire Dalian Huagang Logistics Park Co. for a total investment of $2M.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 12:34 pm

JBI

Janus International Group announced the completion of Clearlake Capital Group's exit from its investment in the company. This marks the end of Clearlake's involvement with Janus, which could have implications for the company's future strategy and financial structure.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 12:27 pm

CART

UBER

Uber Technologies Inc (NYSE:UBER) is rumored to be considering an acquisition of Instacart (NASDAQ:CART), as per Wolfe Research analyst Deepak Mathivanan. Instacart's stock spiked by 6.7% to $25.48 after the analyst upgraded its rating to Outperform with a target price of $35, citing the company's attractive valuation and potential synergies with Uber. The acquisition could help Uber quickly enter the $1 trillion grocery sector with minimal regulatory risk. Instacart, which went public as Maplebear, has been under pressure but is expected to remain a key industry player.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 12:09 pm

PEV

Phoenix Motor Inc. has provided initial guidance following the acquisition of Proterra's Transit business line. The company anticipates delivering over 100 transit buses in 2024 and expects to generate revenues exceeding $100 million.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 12:04 pm

MDC

Sekisui House and M.D.C. Holdings have announced a definitive merger agreement in which Sekisui House will acquire M.D.C. Holdings. Shareholders of M.D.C. Holdings will receive $63.00 per share in an all-cash transaction. The total value of the transaction is approximately $4.9 billion.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 11:05 am

TALO

Talos Energy has priced an upsized underwritten public offering of 30 million shares of common stock, aiming to raise $351 million. The offering is set to close on January 22, 2024. The proceeds are intended to partially fund the acquisition of QuarterNorth Energy Inc. If the acquisition does not occur, the funds will be used for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 7:18 am

LI

NIO

TSLA

China's top auto makers convened in Beijing to discuss the future of the New Energy Vehicle (NEV) market and global expansion. Despite a 5.6% increase in auto sales in 2023, early 2024 shows signs of a slowdown, with companies like Li Auto and Nio offering discounts. Tesla also reduced prices in China, which has been met with disapproval from Beijing. The meeting underscores the importance of NEV growth and international market penetration for China's auto industry.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 6:54 am

BTCUSD

JPM

Edward Snowden criticized JPMorgan CEO Jamie Dimon's stance on Bitcoin following the SEC's approval of a Bitcoin ETF. Snowden's comments were in response to Dimon's negative remarks about Bitcoin at a Davos conference, where Dimon associated Bitcoin with illicit activities and expressed a desire to stop discussing the cryptocurrency. Dimon acknowledged the potential value of cryptocurrencies with smart contracts but likened others to 'pet rocks.' The price of Bitcoin was slightly down at the time of the article.

Portfolio Pulse from Mehab Qureshi

January 18, 2024 | 4:54 am

ARKK

CRSP

DKNG

DNA

RXRX

Ark Invest, led by Cathie Wood, sold 229,215 shares of DraftKings Inc (DKNG) valued at $8.04 million through its ARK Innovation ETF (ARKK). This move indicates a shift in strategy, as DraftKings was previously a key holding for Ark. The firm also made significant investments in biotech firms, buying shares of Recursion Pharmaceuticals (RXRX), CRISPR Therapeutics AG (CRSP), and Ginkgo Bioworks Holdings Inc (DNA) through ARKK and ARK Genomic Revolution ETF (ARKG).

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 4:09 am