Streetbeat News

Acquisitions Mergers

HPE

JNPR

Hewlett Packard Enterprise (HPE) is reportedly close to finalizing a deal to acquire Juniper Networks (JNPR), with the acquisition valuing Juniper at approximately $13 per share. The deal could be concluded as early as this week, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

January 08, 2024 | 11:43 pm

COIN

Needham analyst John Todaro has given Coinbase Global Inc (NASDAQ:COIN) a Buy rating and raised the price target from $160 to $180, citing product growth, international expansion, and the launch of Base, an Ethereum Layer 2 chain. The analyst also sees potential positives from a Bitcoin ETF approval, the Bitcoin halving event, and possible interest rate cuts. Despite lower retail trading levels compared to 2021, Coinbase's recent earnings exceeded expectations, and the company plans to acquire a firm to offer crypto-linked derivatives in the EU. COIN's stock has surged 95.8% in the past six months.

Portfolio Pulse from Khyathi Dalal

January 08, 2024 | 10:19 pm

CAAP

Corporación América Airports S.A. (NYSE:CAAP) announced that its subsidiary ICASGA received a gross indemnification payment of R$610.4 million due to the friendly termination of its concession agreement for the Natal airport in Brazil. The payment will positively impact CAAP's Adjusted EBITDA by R$610.6 million in 4Q2023. The net indemnification amount will be disclosed after accounting for regulatory deductions, taxes, and costs, as well as pre-payment of ICASGA's debts. The transition to a new operator is expected to be completed by early March.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:36 pm

LGVC

LGVCU

LGVCW

LAMF Global Ventures Corp. I has announced a third extension for the deadline to complete its initial business combination, moving it from January 16, 2024, to February 16, 2024. The board of directors approved this extension, which is one of up to six one-month extensions allowed by the company's amended and restated memorandum and articles of association.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:21 pm

ATAK

ATAKR

ATAKU

ATAKW

Aurora Technology Acquisition Corp. has extended the deadline to complete a business combination to February 7, 2024, with a $135,000 contribution to its trust account by its sponsor, ATAC Sponsor LLC. The extension was funded through a draw down on an unsecured promissory note issued to the Sponsor, with a principal amount of $810,000, bearing no interest and repayable upon a business combination or company liquidation.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:18 pm

GOOD

Gladstone Commercial Corporation (NASDAQ:GOOD) reported full payment and collection of Q4 2023 cash base rents and a high portfolio occupancy of 96.8% as of December 31, 2023. The REIT also detailed property acquisitions, lease extensions, new leases, and property sales. Additionally, it extended or executed leases covering 1,428,830 square feet with a 13% increase in annualized straight-line rent. The company sold shares for net proceeds of $4.1 million and reported $54.3 million in liquidity from its credit facility and cash on hand.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:12 pm

FRLA

OCLN

Fortune Rise Acquisition Corporation (FRLA) announced a one-month extension to complete its initial business combination, now set for February 5, 2024. The extension, funded by Water On Demand Inc., a subsidiary of OriginClear, Inc. (OCLN), involved a $100,000 deposit into FRLA's trust account. This is the third of twelve possible one-month extensions and increases the pro rata funds available to stockholders by $0.032 per share. The loan is non-interest bearing and will be repaid upon a business combination or liquidation.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:11 pm

RIO

Rio Tinto (LSE: RIO) is set to initiate the world's largest mining project in Guinea's Simandou mountains, overcoming decades of challenges. The project includes two iron mines, a 400-mile rail system, and a port, with an initial investment of $6.2 billion. Partners include Chalco Iron Ore Holdings and China Baowu Steel Group. The high-grade iron ore from Simandou is crucial for cleaner steelmaking processes, aligning with global climate change goals. Production is expected to start in 2025 with an annual capacity of 60 million tons, Rio Tinto's share being about 27 million tons.

Portfolio Pulse from Stjepan Kalinic

January 08, 2024 | 8:54 pm

AMAM

CMC

DADA

DTC

HARP

LMDX

U.S. stocks saw gains, with the Dow Jones rising over 100 points. Commercial Metals Company (NYSE:CMC) reported Q1 earnings that surpassed estimates, with adjusted earnings of $1.63 per share and sales of $2.00 billion. Harpoon Therapeutics, Inc. (NASDAQ:HARP) surged 112% after an acquisition announcement by Merck. Ambrx Biopharma Inc. (NASDAQ:AMAM) also soared 101% following news of its acquisition by Johnson & Johnson. Conversely, LumiraDx Limited (NASDAQ:LMDX) plummeted 42% as it faces suspension from Nasdaq trading, Dada Nexus Limited (NASDAQ:DADA) dropped 37% due to questionable revenue practices, and Solo Brands, Inc. (NYSE:DTC) fell 36% after lowering its full-year revenue guidance.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 7:33 pm

CYTK

NVS

Cytokinetics Inc (NASDAQ:CYTK) shares have risen due to reports of advanced takeover talks with Novartis AG (NYSE:NVS). The acquisition, potentially valued at around $9 billion, could be finalized soon but may still face uncertainties such as other bidders or deal collapse. The interest in Cytokinetics follows their promising trial results for aficamten, which boosted their stock by over 60% in December.

Portfolio Pulse from Vandana Singh

January 08, 2024 | 7:24 pm