Streetbeat News

Acquisitions Mergers

PBIO

Pressure BioSciences, Inc. (OTC:PBIO) has entered into a definitive agreement to acquire Uncle Bud's, a leader in natural health and wellness products. The merger leverages PBIO's UltraShear technology to enhance product bioavailability and speed of action. Grammy Award-winning artist Toni Braxton, an advocate of Uncle Bud's, expressed excitement for the acquisition. The merger is expected to be accretive to PBIO's financials and may accelerate its uplisting to major stock exchanges. The transaction is set to close by January 19, 2024, with Uncle Bud's stockholders receiving convertible preferred stock of PBIO.

Portfolio Pulse from Javier Hasse

January 15, 2024 | 6:16 pm

BUD

TGT

Chamath Palihapitiya, a billionaire investor, announced the creation of an incubator named 8090, which aims to use AI and offshoring to develop enterprise software at a significant discount. He suggested that this could disrupt the software market by reducing the need for businesses to pay subscription fees to software providers. Mark Cuban responded to Palihapitiya's announcement with a cautionary note about tax implications related to R&D with foreign developers, referencing Sec 174. The article also mentions past public disagreements between Palihapitiya and Cuban, including debates over political ideologies affecting business and consumer behavior.

Portfolio Pulse from Chris Katje

January 15, 2024 | 2:38 pm

VLVLY

Volvo Group has entered into an option agreement with John Cockerill Defense to potentially sell its defense vehicle subsidiary, Arquus. The deal is expected to be finalized in Q1 2024 after staff consultations. The agreement will negatively impact Volvo Group's operating income by approximately SEK 900 million in Q4 2023. Arquus contributes about 1% to Volvo Group's revenues and employs around 1,200 people in France. The negative earnings effect will be reported under Group Functions & Other and will not affect adjusted operating income.

Portfolio Pulse from Benzinga Newsdesk

January 15, 2024 | 11:28 am

TRI

Thomson Reuters Corporation (TRI) has acquired a majority stake of 53.81% in Pagero Group AB, a leader in e-invoicing and indirect tax solutions. Thomson Reuters increased its tender offer to SEK 50 per share, valuing Pagero at approximately SEK 8.1 billion. The acquisition enhances Thomson Reuters' ONESOURCE indirect tax offerings and is expected to provide significant growth opportunities due to increasing global e-invoicing regulations. The offer is unconditional and fully financed, with the acceptance period ending on February 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 15, 2024 | 11:22 am

BRK

BYDDY

SGML

TSLA

Chinese EV manufacturer BYD Co Ltd, supported by Warren Buffett's Berkshire Hathaway, is in discussions with Brazilian lithium producer Sigma Lithium Corp regarding a potential acquisition. The talks could result in various outcomes, including a supply contract, joint venture, or full takeover. Sigma Lithium, valued at $2.9 billion, began exporting lithium from Brazil last year and is considering a strategic review that may lead to a sale or public listing of its Brazilian subsidiary. BYD's interest in Sigma aligns with its strategy to control significant parts of its supply chain. This move reflects China's ambition to dominate the clean tech industry's global resources. BYD has surpassed Tesla in battery-only EV sales and is expanding its international presence, including a new battery production facility in China and the launch of a chartered cargo ship for global EV exports.

Portfolio Pulse from Benzinga Neuro

January 15, 2024 | 8:51 am

AMZN

GOOG

GOOGL

KKR

SGAPY

Private equity firms KKR & Co Inc and Bain Capital are investing heavily in Asia's data center market, driven by the region's increasing demand for computing and data storage, fueled by AI and cloud services growth. KKR purchased a 20% stake in Singapore Telecommunications Ltd's data center business, while Bain Capital plans to privatize Chindata Group Holdings. The demand in Asia is expected to grow 25% annually until 2028, outpacing the U.S. Amazon has also announced significant investments in India to expand its cloud infrastructure.

Portfolio Pulse from Benzinga Neuro

January 15, 2024 | 8:02 am

NVDA

Despite U.S. export restrictions, China's military, government sectors, AI institutions, and universities have continued to acquire NVIDIA Corp (NASDAQ:NVDA) chips, including banned A100, H100, A800, and H800 models. The chips have been sourced through an underground market, with vendors leveraging surplus stock or imports via third countries. Nvidia asserts compliance with export laws and readiness to act against unlawful resales. The U.S. is monitoring Nvidia's new AI accelerators for the Chinese market, while Nvidia explores expansion into other Asian markets like Vietnam.

Portfolio Pulse from Benzinga Neuro

January 15, 2024 | 1:46 am

DIS

Walt Disney Co. (NYSE:DIS) is in talks with the NFL about a potential deal for the NFL to acquire a stake in ESPN. The deal would also potentially place the NFL's media unit under Disney's control, bringing NFL Network and RedZone into Disney's portfolio. The discussions are aimed at strengthening Disney's sports rights and countering falling affiliate revenue. The deal is not yet finalized and would require NFL owners' approval. Disney has been seeking partners for ESPN and has approached sports leagues with vested interests in ESPN's success.

Portfolio Pulse from Benzinga Neuro

January 14, 2024 | 8:44 pm

ARKK

ARKW

TSLA

Ark Invest, led by Cathie Wood, has continued to invest in Tesla, Inc. (TSLA), purchasing a total of $50 million worth of shares over two consecutive days despite a 12% decline in Tesla's stock price in 2024. The purchases were made through Ark Innovation ETF (ARKK) and Ark Next Generation Internet ETF (ARKW). Tesla's stock has been under pressure due to a sell-off in tech stocks and recent price cuts in China. Investors are awaiting Tesla's Q4 earnings report on January 24, with a focus on core auto gross margin and 2024 delivery guidance.

Portfolio Pulse from Shanthi Rexaline

January 13, 2024 | 5:00 pm

AAPL

BABA

BAC

JPM

MSFT

WFC

Major indexes ended higher last week, with the S&P 500, Nasdaq, and Dow seeing gains. Inflation rose to 3.4% YoY in December, potentially affecting markets and Fed policies. JPMorgan Chase reported strong earnings, while Bank of America saw revenue decline, Wells Fargo's profits increased, and Citigroup announced job cuts. The SEC approved spot Bitcoin ETFs. Microsoft overtook Apple as the most valuable company, Tesla's sales growth outpaced legacy automakers, and Cathie Wood disclosed a significant personal investment in Bitcoin. Alibaba faced scrutiny from Congresswoman Laurel Lee's stock sale, Solana's price dropped, and Boeing dealt with a 737 MAX 9 incident.

Portfolio Pulse from Michael Cohen

January 13, 2024 | 3:03 pm