Streetbeat News

Acquisitions Mergers

AAPL

AMZN

SIRI

SPOT

TME

Sky News reports that Soundcloud, a privately-held music streaming service, is preparing to be sold later this year. The article may mention the potential impact on publicly traded companies in the music streaming industry such as Apple (AAPL), Amazon (AMZN), Sirius XM (SIRI), Spotify (SPOT), and Tencent Music Entertainment (TME).

Portfolio Pulse from Charles Gross

January 07, 2024 | 3:34 pm

ATAI

CMPS

CYBN

DMTTF

MAPS Public Benefit Corporation, a subsidiary of MAPS, has raised over $100 million in Series A funding to support FDA approval of MDMA for PTSD treatment. The company will rebrand as Lykos Therapeutics. The investment reflects growing interest in psychedelic treatments for mental illnesses. Atai Life Sciences, Compass Pathways, and Cybin Inc. are also advancing in the psychedelic space with significant investments and acquisitions.

Portfolio Pulse from Maureen Meehan

January 06, 2024 | 8:59 pm

ARKF

ARKK

ARKW

COIN

PLTR

Cathie Wood's Ark Invest purchased additional shares of Palantir Technologies (PLTR) valued at $16.5 million across three ETFs (ARKK, ARKW, ARKF) despite a downgrade by Jefferies analyst Brent Thill from 'Neutral' to 'Underperform' with a price target cut from $18 to $13. Meanwhile, Ark continued to sell shares of Coinbase Global (COIN), liquidating 133,823 shares worth $20.61 million.

Portfolio Pulse from Shanthi Rexaline

January 06, 2024 | 4:10 pm

FSR

KARS

RIVN

TSLA

Electric vehicle stocks fell in the week ending Jan. 5, with Tesla's Q4 deliveries exceeding expectations but not enough to lift the sector. Tesla lost its global EV leader status to BYD, faced a recall in China, and will provide 2024 guidance on Jan. 24. Rivian's Q4 deliveries slightly missed estimates, while Fisker adopted a dealer distribution model. Ford adjusted F-150 Lightning prices, and GM plans to compensate buyers for lost EV tax credits. The KraneShares Electric Vehicles ETF fell by 5.53% for the week.

Portfolio Pulse from Shanthi Rexaline

January 06, 2024 | 2:59 pm

LVS

Mark Cuban has distributed $35 million in bonuses to Dallas Mavericks employees after selling his majority stake to key shareholders of Las Vegas Sands (NYSE:LVS), including Miriam Adelson and her family. Cuban retains a smaller ownership share and continues to manage basketball operations. The sale was approved by the NBA in December 2023.

Portfolio Pulse from Rounak Jain

January 06, 2024 | 7:07 am

CHK

CVX

EQT

HES

OXY

PXD

SWN

XOM

Southwestern Energy Co. (SWN) and Chesapeake Energy Corp. (CHK) are reportedly close to finalizing a merger to create a $17 billion natural gas giant. The merger could make the combined entity one of the largest gas producers in the U.S. Southwestern's stock rose over 7%, and Chesapeake's shares gained over 2% following the news. The merger is part of a trend of energy industry consolidations, with recent deals involving Exxon Mobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY).

Portfolio Pulse from Rounak Jain

January 06, 2024 | 2:30 am

ANTO.L

EDV.L

GOLD

Barrick Gold Corp and Antofagasta plc have formed a $95 million partnership for copper exploration in Chile. Endeavour Mining Plc fired its CEO for misconduct involving a $5.9 million payment and personal conduct issues. The battery industry needs to invest $514 billion by 2030 to meet demand for lithium-ion batteries.

Portfolio Pulse from Austin DeNoce

January 05, 2024 | 9:40 pm

INVZ

Innoviz Technologies (INVZ) has been informed by its shuttle program customer that the customer is exiting the OEM portion of its business. As part of a strategic realignment, the customer will cease manufacturing shuttles for direct sale, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:22 pm

COIN

Coinbase is reportedly planning an acquisition that will enable it to offer crypto derivatives in the European Union, according to CNBC. This strategic move could potentially expand Coinbase's product offerings and market reach within the EU.

Portfolio Pulse from Charles Gross

January 05, 2024 | 9:14 pm

CHK

SWN

Chesapeake Energy's stock is trading higher on reports of an impending merger with Southwestern Energy.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 8:45 pm