Streetbeat News

Acquisitions Mergers

MNKD

MannKind Corporation has entered into a deal to sell a 1% royalty on net sales of Tyvaso DPI, a treprostinil inhalation powder, for up to $200 million. This includes an upfront purchase price of $150 million and an additional potential milestone payment of up to $50 million.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 11:10 am

ENSG

Ensign Group has acquired the operations of Tristate Health and Rehabilitation Center, a 116-bed skilled nursing facility in Harrogate, Tennessee. The acquisition, effective January 1, 2024, is under a long-term, triple net lease, although the financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 11:04 am

ENSG

Ensign Group has acquired the operations of Hearthstone Health and Rehabilitation, a 125-bed skilled nursing facility in Sparks, Nevada. The acquisition, effective January 1, 2024, is under a long-term, triple net lease. Financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 11:02 am

DANOY

Danone SA has agreed to sell its U.S. premium organic dairy activity, including Horizon Organic and Wallaby, to Platinum Equity. This move is part of Danone's Renew Danone strategy, focusing on health-focused brands and asset rotation. The U.S. organic dairy segment accounted for 3% of Danone's global revenues and had a dilutive effect on sales growth and margin. Danone will keep a minority stake post-sale. DANOY shares closed slightly up at $12.95.

Portfolio Pulse from Lekha Gupta

January 02, 2024 | 10:44 am

IBM

Matthew Candy, IBM's Global Managing Partner for AI, suggested that a computer science degree might not be necessary for tech industry roles due to AI's evolution. AI could streamline product creation and emphasize soft skills like critical thinking and creativity. This reflects a broader trend where AI is expected to disrupt various sectors and prioritize soft skills. IBM's recent acquisitions of StreamSets and webMethods for €2.13 billion ($2.34 billion) underscore its commitment to AI and hybrid cloud, aiming to enhance its Watsonx platform with new data ingestion capabilities.

Portfolio Pulse from Benzinga Neuro

January 02, 2024 | 9:23 am

ASML

NVDA

ASML Holding NV has stopped planned exports of deep ultraviolet lithography machines to China following pressure from the U.S. administration. This action aligns with the U.S. strategy to limit China's technological advancements in semiconductors. ASML's CEO, Peter Wennink, warns that this could lead to China developing its own technology, potentially affecting 15% of ASML's sales in China. The U.S. has also influenced NVIDIA Corp to sell a modified version of its gaming chip in China due to export controls.

Portfolio Pulse from Benzinga Neuro

January 02, 2024 | 8:22 am

CALM

LMDX

PALI

SPGC

WNW

Several companies are in focus heading into Tuesday with key developments: Sacks Parente Golf, Inc. (SPGC) announced the immediate resignation of its CEO, with shares dropping in after-hours trading. LumiraDx Limited (LMDX) agreed to sell its technology platform to Roche, resulting in a share price decline. Palisade Bio, Inc. (PALI) filed for a common stock offering, slightly boosting its share price. Meiwu Technology Co., Limited (WNW) reported a significant revenue surge and a decrease in net loss, leading to a share price increase. Cal-Maine Foods, Inc. (CALM) plans to acquire assets from Tyson Foods, with a slight decrease in its share price after the announcement.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 7:44 am

DEC

Diversified Energy has completed the sale of its producing assets in Appalachia to a Special Purpose Vehicle (SPV), DP Lion Equity Holdco LLC, retaining a 20% interest and operatorship. The transaction generated $200 million in proceeds, which were used to repay a portion of the company's debt and for general corporate purposes. The sale led to a 12% reduction in net debt and the assets sold had a PV-10 value of approximately $230 million.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 7:28 am

DIS

IBM

WBD

Fidelity has reported a 71% decrease in the value of X, previously known as Twitter, since Elon Musk's acquisition in October 2022. The value drop is linked to Musk's controversial actions and subsequent advertiser boycotts, including major companies like Walt Disney Co and IBM. Fidelity, holding equity in X, has marked down its stake to around $15 billion, a third of Musk's purchase price. Advertiser tensions heightened after Musk endorsed an antisemitic post, leading to a pause in campaigns from companies such as Disney and Warner Bros. Discovery Inc.

Portfolio Pulse from Benzinga Neuro

January 02, 2024 | 6:26 am

WKEY

WISeKey's subsidiary WISe.ART AG has received an investment from The Hashgraph Association to advance authenticated digital assets and cryptocurrencies. This collaboration aims to enhance the security and authentication of digital assets, leveraging WISeKey's expertise in cybersecurity and The Hashgraph Association's blockchain technology.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 6:19 am