Streetbeat News

Acquisitions Mergers

EDR

Investors are circulating a note from an investment newsletter that speculates on potential M&A activity involving Endeavor Group Holdings.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:22 pm

ATAI

GHRS

Atai Life Sciences (NASDAQ:ATAI) has invested $50 million in Beckley Psytech Ltd. for the development of short-duration psychedelics for neuropsychiatric conditions. Atai now owns 35.5% of Beckley Psytech, which remains independent. The investment will accelerate the development of Beckley's psychedelic candidates, BPL-003 and ELE-101, with clinical trial results expected between H1 2024 and H2 2024. Atai's management believes in the potential of short-duration psychedelics to increase patient access and is building a large portfolio of psychedelic compounds. The collaboration may also explore digital tools for patient support and commercialization. GH Research (NASDAQ:GHRS) is also working with 5-MeO-DMT but is currently on clinical hold in the U.S.

Portfolio Pulse from Lara Goldstein

January 04, 2024 | 7:17 pm

ELV

Elevance Health has reportedly acquired Paragon Infusion, a specialty infusion services provider, for over $1 billion. This acquisition is part of Elevance's strategy to expand its healthcare services and capabilities.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 6:33 pm

AER

AerCap Holdings NV (NYSE:AER) reported its Q4 FY23 activities, including signing 179 lease agreements, acquiring 20 airlines, and repurchasing 10 million shares. The company received $609 million from insurance settlements and signed financing transactions worth $1.7 billion. In 2023, AER repurchased 44 million shares for $2.6 billion and held $2.61 billion in cash and equivalents as of Sept. 30, 2023. AER also leased two Airbus A321 P2F aircraft to Swiftair last month. AER shares closed down 2.34% at $70.66.

Portfolio Pulse from Lekha Gupta

January 04, 2024 | 5:50 pm

CIFR

Cipher Mining's joint venture has entered into agreements with Canaan to purchase 16,700 units of Avalon A1466 miners, causing Cipher Mining's shares to trade higher.

Portfolio Pulse from Bill Haddad

January 04, 2024 | 5:44 pm

FSLR

First Solar Inc (NASDAQ:FSLR) has signed a 15-year Power Purchase Agreement with Cleantech Solar to supply clean electricity to its new solar manufacturing facility in Tamil Nadu, India. Cleantech Solar will construct 150 MW of solar and 16.8 MW of wind assets, expected to be commissioned by Q3 2024, and will meet 70% of the facility's needs. The agreement includes the purchase of 150 MW of Series 7 solar panels from First Solar, with delivery in the first half of 2024. The initiative will help displace about 7,000 kilotons of CO2 emissions.

Portfolio Pulse from Shivani Kumaresan

January 04, 2024 | 5:19 pm

PM

Philip Morris Intl (NYSE:PM) has seen significant options trading activity, with a bearish sentiment from high-rolling investors. Benzinga's options scanner detected 8 trades, with 37% bullish and 62% bearish sentiment. The trades suggest a target price range of $90 to $100 over the next three months. The company, known for its tobacco products, has diversified with acquisitions of Swedish Match and Vectura. PM's stock is currently at $95.42, with potential overbought conditions and earnings expected in 35 days.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 5:01 pm

DIS

SONY

Reliance Industries Limited and Walt Disney Co (NYSE:DIS) are progressing in talks to merge their Indian media and entertainment divisions, with both companies engaging legal firms for antitrust due diligence. The discussions involve a major streaming service and 120 TV channels. A non-binding term sheet has been signed, and Reliance is expected to hold a majority in the merged entity. The deal, which may face antitrust challenges, follows a similar proposed merger between Sony Group Corp (NYSE:SONY) and Zee Entertainment in India. Disney's Indian business has been competing with Reliance, especially in streaming the Indian Premier League cricket. DIS shares dropped 1.30% to $90.46.

Portfolio Pulse from Shivani Kumaresan

January 04, 2024 | 4:52 pm

ATAI

ATAI Life Sciences' stock is trading higher following the announcement of a strategic investment in Beckley Psytech Limited, aimed at accelerating the clinical development of short-duration psychedelics.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:39 pm

AAPL

FXI

Apple's suppliers, including Foxconn, have invested $16 billion since 2018 to diversify manufacturing away from China due to US/China trade tensions, COVID measures, and power supply issues. TD Cowen's research indicates Apple's revenues were impacted by over $30 billion during the pandemic. Reshoring efforts are aimed at reducing future production disruptions, with investments in India, Mexico, the US, and Vietnam. Apple's operating margins may benefit long-term, despite higher near-term costs. iPhone production remains largely in China, but India is emerging as a significant manufacturing hub. Vietnam is becoming a major hub for Mac and iPad production, potentially meeting 40% of US demand. The reshoring process is expected to take years, with challenges in establishing new plants and organizing supply chains.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:19 pm