Streetbeat News

Acquisitions Mergers

AEM

Agnico Eagle Mines (NYSE:AEM) has invested C$23.1 million (US$17 million) in Canada Nickel Company, acquiring a 12% equity interest, or 15.6% on a partially diluted basis. The investment follows a challenging year for nickel, which was the worst-performing metal on the London Metal Exchange in 2023, losing 45% of its value. Agnico's investment is part of its strategy to evaluate critical minerals opportunities and establish a presence in the emerging nickel belt in the Abitibi region.

Portfolio Pulse from Stjepan Kalinic

January 03, 2024 | 4:41 pm

SASI

Sigma Additive Solutions, Inc. (NASDAQ:SASI) shares surged after announcing the completion of NextTrip Holdings acquisition and appointing Bill Kerby as the new CEO. The company also secured a U.S. patent for defect detection in additive manufacturing systems. SASI's stock price increased by 51.9% to $4.40.

Portfolio Pulse from Erica Kollmann

January 03, 2024 | 4:39 pm

Cigna Corporation is reportedly in advanced negotiations to sell its Medicare Advantage business to Health Care Service Corp. The deal is estimated to be valued between $3 billion and $4 billion. Cigna, which had been expanding in the Medicare sector, is now in exclusive talks after running an auction for the unit.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 4:11 pm

DBRG

INTC

Intel Corp (INTC) and DigitalBridge Group Inc (DBRG) have launched Articul8 AI Inc, a new company providing a GenAI software platform for enterprise security with various deployment options. Articul8 AI, leveraging Intel's technology, will focus on market opportunities and GenAI adoption in enterprises. Arun Subramaniyan, ex-Intel VP, is the CEO of Articul8. DigitalBridge Ventures led the investment, with Intel and others acquiring equity stakes. The platform is already deployed in sectors like financial services and telecommunications, with Boston Consulting Group as a user. INTC shares dropped 1.41% to $47.13 recently.

Portfolio Pulse from Anusuya Lahiri

January 03, 2024 | 4:09 pm

ACR

DHC

HPP

MAC

OPI

PKST

RMR

December saw a significant rally in REITs, attributed to the Federal Reserve's pause on interest rate hikes and anticipated rate cuts in 2024. Office REITs and mortgage REITs (mREITs) performed exceptionally well, with some experiencing over 20% gains. Hudson Pacific Properties (HPP) led the surge with a 53.66% return, followed by Macerich Co. (MAC), Peakstone Realty Trust (PKST), Acres Commercial Realty Corp. (ACR), and Office Properties Income Trust (OPI). Analyst upgrades and internal corporate actions, such as share repurchase programs and management changes, contributed to the positive performance of these REITs.

Portfolio Pulse from Ethan Roberts

January 03, 2024 | 4:05 pm

ESPR

Esperion Therapeutics' stock is trading lower following an announcement of a $125 million amendment to its collaboration with Daiichi Sankyo Europe, which also includes a resolution to pending litigation.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:54 pm

COIN

GBTC

TSLA

Bitcoin celebrates its 15th birthday with 15 fun facts, highlighting its history, impact on companies like Coinbase (NASDAQ:COIN), and the potential for Bitcoin ETFs. The article mentions the first Bitcoin purchase, Ethereum's co-founder's early involvement with Bitcoin, lost Bitcoin wallets, the anonymous creator Satoshi Nakamoto, and the influence of Bitcoin on companies like Tesla (NASDAQ:TSLA) and Block Inc (NYSE:SQ). It also discusses the pending approval of Bitcoin ETFs, including Grayscale Bitcoin Trust's (OTC:GBTC) potential conversion into an ETF.

Portfolio Pulse from Chris Katje

January 03, 2024 | 3:33 pm

BRKR

Bruker Corporation's stock is trading lower following the announcement of its acquisition of Nion, a specialized electron microscopy company.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:25 pm

PSTG

TDCX

TDCX Inc. shares surged 28% after receiving a preliminary non-binding acquisition offer from its CEO for $6.60/share. The company formed a special committee to consider the proposal. Other stocks like Dyne Therapeutics, Voyager Therapeutics, and Pure Storage also saw gains, with Pure Storage set to join the S&P MidCap 400.

Portfolio Pulse from Avi Kapoor

January 03, 2024 | 3:24 pm

CHS

PDCO

PSTG

Shares of Pure Storage Inc (NASDAQ:PSTG) are rising after the announcement that the company will join the S&P MidCap 400, replacing Patterson Companies Inc. Patterson will move to the S&P SmallCap 600, taking the place of Chico's FAS Inc, which is being acquired by Sycamore Partners. The market capitalization adjustment and acquisition are prompting these index changes, which will be effective before the market opens on Friday. At the time of publication, PSTG shares had increased by 4.98% to $36.56.

Portfolio Pulse from Adam Eckert

January 03, 2024 | 3:18 pm