Streetbeat News

Acquisitions Mergers

MSFT

Microsoft Corporation (NASDAQ:MSFT) stock is trading higher due to recent developments in artificial intelligence and its investment in OpenAI. Microsoft's Quantum team has discovered a new material for solid-state battery electrolytes using AI, and the company is introducing an AI feature in Windows 11's Notepad. The European Commission is assessing Microsoft's $16 billion investment in OpenAI for potential review under EU Merger Regulation. MSFT shares are currently trading above their 50-day moving average and near their 52-week high.

Portfolio Pulse from Erica Kollmann

January 10, 2024 | 8:46 pm

ARKK

BTCUSD

Cathie Wood, CEO of ARK Invest, anticipates the potential approval of the Ark21Shares Bitcoin ETF (ticker 'ARCB') as a significant event for Bitcoin. She targets $4 billion in inflows from institutional investors, despite a longer due diligence process. Wood remains optimistic about the future of digital asset ETFs, though acknowledges the SEC's role in the process. She previously predicted a $1 million Bitcoin price in the next 5-7 years.

Portfolio Pulse from Khyathi Dalal

January 10, 2024 | 8:39 pm

IRBT

iRobot shares are trading lower after news that Amazon declined a settlement offer from the European Commission regarding their acquisition deal.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 8:15 pm

AMZN

IRBT

Shares of iRobot (IRBT) experienced a sudden drop as traders shared a post indicating that Amazon (AMZN) may not proceed with a settlement offer with the European Commission regarding its acquisition of iRobot. This development could potentially affect the completion of the deal.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 8:04 pm

PD

PagerDuty's stock is trading higher after a Bloomberg report indicated that the company is exploring options in response to acquisition interest. This news suggests potential changes in ownership or strategic direction for PagerDuty, which could affect its market valuation and investor sentiment in the short term.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 7:48 pm

WPP

Shares of WPP Plc (NYSE:WPP) are up as the company considers selling its 40% stake in Kantar to boost cash and address its declining stock value. The potential deal could value Kantar at $3-4 billion, despite its $4 billion debt. Bain Capital may also sell Kantar Media, valued at around £1 billion. Discussions are in early stages, and WPP may retain its stake if no suitable options are found. WPP's stock rose 1.17% to $48.39.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 7:36 pm

ACRS

AEHR

AMRN

CMND

DCGO

KITT

U.S. stocks traded higher with the Dow Jones gaining over 100 points. Communication services shares rose by 1.1%, while energy shares fell by 1.3%. U.S. wholesale inventories declined by 0.2% in November. Clearmind Medicine Inc. (CMND) shares surged 44% after an FDA meeting. Amarin Corporation plc (AMRN) shares jumped 28% on Q4 results and a share repurchase program. Nauticus Robotics, Inc. (KITT) gained 87% after securing funding and appointing a new interim CEO. DocGo Inc. (DCGO) shares fell 35% following a negative report by Fuzzy Panda Research. Aclaris Therapeutics, Inc. (ACRS) shares dropped 24% after a Phase 2B study failed to meet the primary efficacy endpoint. Aehr Test Systems (AEHR) fell 15% after lowering its full-year revenue guidance. Crude oil fell 1.1% to $71.46, and gold slightly declined.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 7:16 pm

BMWYY

BMW AG (OTC:BMWYY) announced a €650 million investment to transform its Munich plant into an e-mobility hub by the end of 2027, marking the end of combustion engine vehicles production at the site since 1952. The plant will feature a new vehicle assembly line and body shop. Currently, half of the vehicles produced there are all-electric. Engine manufacturing has moved to Great Britain and Austria. The company has also trained 1,200 employees for new production strategies or relocated them within the production network. BMWYY shares dropped by 0.39% to $36.58.

Portfolio Pulse from Shivani Kumaresan

January 10, 2024 | 7:09 pm

PARA

Investors backing Skydance Media are considering an all-cash transaction to acquire a controlling stake in Paramount Global (PARA). The deal, if successful, would have significant implications for Paramount's future operations and strategy.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 7:06 pm

ICCT

iCoreConnect's stock price has risen following the announcement of its strategic acquisition of Verifi Dental, indicating a positive market reaction to the expansion of its dental software solutions portfolio.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:55 pm