Streetbeat News

Acquisitions Mergers

SIDU

Sidus Space (NASDAQ:SIDU) concludes 2023 with significant achievements, including expanding services, securing new customers, and completing testing for the Q1 2024 launch of LizzieSat on SpaceX's Transporter-10. The company has also expanded its technology through acquisitions and partnerships, and is preparing for growth in 2024 with a focus on LEO and Lunar opportunities, expecting increased revenue from subscription customers and additional satellite launches.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:21 pm

DOGEUSD

SPY

TSLA

Elon Musk's associated assets have seen varied growth in 2023. Tesla Inc (TSLA) delivered its first Cybertruck, and its stock surged by 142%. SpaceX, valued at $180 billion, is up 41.7%. Dogecoin (DOGE) appreciated by 33%. Twitter, acquired by Musk and renamed X, was marked down by 68.1% by some investors. Musk's net worth increased by $97.8 billion, largely due to Tesla and SpaceX. The average return of these investments outperformed the S&P 500, tracked by SPDR S&P 500 ETF Trust (SPY), which was up 25.1%.

Portfolio Pulse from Chris Katje

December 28, 2023 | 2:59 pm

ALEAF

BUD

TCNNF

TLRY

The most-read cannabis stories of 2023 on Benzinga included a range of topics from the benefits of cannabis for aging brains, political shifts towards legalization, and high-profile celebrity endorsements. Key highlights include a study suggesting cannabis does not negatively impact cognition in older adults, Elon Musk's comments on psychoactive drugs, a man ditching morphine for marijuana to alleviate arthritis, Aleafia Health's expansion into Europe's medical cannabis market, a pathogen threatening California's cannabis crops, Florida's telehealth renewals for medical marijuana, GOP senators admitting legalization impacts drug cartels, Tilray's acquisition of beer brands from Anheuser-Busch, Snoop Dogg's anti-Trump TikTok video, Georgia's medical cannabis sales in pharmacies, and Ohio's GOP-led Senate approving expanded marijuana legislation.

Portfolio Pulse from Nina Zdinjak

December 28, 2023 | 2:54 pm

AMD

GOVI

NVDA

QQQ

SPY

The Nasdaq 100 Index is set to record its best year since 1999, with a 55% increase in performance, driven by AI advancements and a dovish pivot by the Federal Reserve. The tech-heavy Invesco QQQ Trust and SPDR S&P 500 ETF Trust saw significant inflows. Semiconductor companies like NVIDIA and Advanced Micro Devices are among the top performers. The Fed's softer stance on interest rates has made tech stocks more attractive, while the Invesco Equal Weight 0-30 Year Treasury ETF also experienced a notable rally.

Portfolio Pulse from Piero Cingari

December 28, 2023 | 2:44 pm

AMTD

AMTD IDEA Group (NYSE:AMTD) reported a 47.4% increase in net assets to $1.5B and an 8.6% rise in total revenue to $128M for the first half of 2023. The company, which operates in financial services, digital media, entertainment, and hospitality, showed resilience despite global economic challenges. Revenue growth was driven by acquisitions, including L'Officiel and AMTD Assets. The company also announced the migration of its headquarters to Paris, France, and the establishment of AMTD World Media and Entertainment Group. Additionally, AMTD IDEA secured new share subscriptions at a premium and entered into agreements for asset disposals and restructuring.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:31 pm

APLE

Apple Hospitality REIT has acquired the SpringHill Suites by Marriott Las Vegas Convention Center for approximately $75 million, which equates to around $251,000 per key.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:16 pm

NPO

Enpro Inc (NYSE:NPO) has agreed to acquire Advanced Micro Instruments, Inc. (AMI) for $210 million in cash. The acquisition is expected to be accretive to Enpro's Sealing Technologies segment, enhancing its portfolio of products for critical environments. The deal is valued at approximately 13x normalized 2023 EBITDA. Enpro's President and CEO highlighted the strategic fit of AMI's analyzer and sensor solutions with their existing offerings. Enpro's cash position as of September 30 was $329.8 million, and its stock closed up 0.79% at $160.12.

Portfolio Pulse from Lekha Gupta

December 28, 2023 | 2:11 pm

BITQ

BTBT

CIFR

COIN

MSTR

PLTR

TSLA

Bitcoin SV surged 51%, outperforming Bitcoin and Ethereum. Microstrategy's increased Bitcoin holdings prompted Canaccord Genuity to raise its price target. Ark Invest bought ProShares Bitcoin ETF shares and sold Coinbase, Block, and Palantir shares. In other markets, Bit Digital and Cipher Mining stocks moved higher. US politics and economy saw developments, including corporate default warnings from Fitch and a recession forecast by Peter Schiff. Tech giants like Google, Apple, and Microsoft made headlines with AI and security updates. In the EV sector, Tesla and Xiaomi made news, while Ford recalled F-Series cars. Credit Suisse was fined by Singapore, and New Fortress Energy secured a significant contract in Brazil.

Portfolio Pulse from Akanksha Bakshi

December 28, 2023 | 2:10 pm

ZKIN

ZK International Group Co., Ltd. (ZKIN) announced a series of positive developments including the launch of a new website, rebranding, a successful $8M bid with Chongqing Gas Group, a $5M financing round, and Nasdaq compliance. The new website aims to enhance stakeholder engagement and transparency. The $8M bid strengthens ZK International's presence in the Western China Gas Market. The $5M financing will support the company's growth and international expansion. ZKIN has also resolved its bid price deficiency and is now Nasdaq compliant, with assistance from Donohoe Advisory Associates LLC.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:06 pm

LMFA

LM Funding America (LMFA) has entered into a $2M agreement to sell the blockchain technology assets of Symbiont.IO to Platonic Holdings. $200,000 of the sale will be held in escrow until December 26, 2024. LMFA acquired these assets during Symbiont.IO's Chapter 11 bankruptcy proceedings, and they are valued at $2M on LMFA's books.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:01 pm