Streetbeat News

Acquisitions Mergers

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Comstock Mining Inc. has executed agreements with RenFuel K2B AB to progress its first commercial biorefinery. The agreements include an option for Comstock to acquire a subsidiary of RenFuel. This move is part of Comstock's strategy to develop environmentally beneficial, non-fossil fuel-based energy solutions.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 11:02 am

TSLA

India's Ahmedabad Mirror reports that negotiations with Tesla to establish a manufacturing plant in Gujarat are in the final stages. An announcement is expected during the Vibrant Summit.

Portfolio Pulse from Charles Gross

December 28, 2023 | 10:22 am

BLIN

CHRD

DIT

PROF

RETO

Chord Energy Corporation (CHRD) announced leadership changes with Susan Cunningham as Independent Chair and Darrin Henke as EVP and COO, effective in 2024. Bridgeline Digital (BLIN) reported a narrower Q4 loss but missed sales estimates. Profound Medical (PROF) priced a public offering at $7.50 per share. ReTo Eco-Solutions (RETO) reported a significant loss and revenue decline for the six months ended June 30, 2023. AMCON Distributing Company (DIT) declared a special cash dividend.

Portfolio Pulse from Avi Kapoor

December 28, 2023 | 9:24 am

AIB

PSI Group, a global logistics service provider, is set to list on the Nasdaq Stock Market through a merger with AIB Acquisition. Upon completion, both AIB and PSI will be subsidiaries of a new entity, PS International Group Ltd. ('Pubco'), which will be publicly traded.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 6:52 am

CVX

HES

PXD

USO

XOM

Crude oil experienced a volatile year in 2023, with WTI starting at $80.18 and currently trading down about 8%. OPEC+ production cuts failed to sustain prices, while U.S. oil production hit a potential record, challenging OPEC's influence. Major acquisitions in the U.S. oil sector included Chevron's purchase of Hess and Exxon Mobil's acquisition of Pioneer Natural Resources. The United States Oil Fund, LP (USO) reflects the oil price trend with a 1.1% YTD loss. Analysts predict a conservative average of $85 for Brent crude, while fund manager Louis Navellier sees potential for oil to breach $100 a barrel.

Portfolio Pulse from Shanthi Rexaline

December 28, 2023 | 6:43 am

MSTR

MicroStrategy Inc (NASDAQ:MSTR) has increased its Bitcoin holdings by purchasing an additional 14,620 BTC for $615.7 million. Canaccord Genuity raised MSTR's price target to $791, citing the company's stock outperformance relative to Bitcoin's value increase and a scarcity premium due to its lower operational risk compared to other Bitcoin exposure methods. MSTR's stock surged by 29% in a month and 119% over six months, outpacing Bitcoin's 16% monthly and 41% six-month gains. The company's shares are now trading at a 36% premium to the underlying Bitcoin value.

Portfolio Pulse from Mehab Qureshi

December 28, 2023 | 6:28 am

AAPL

MASI

A late-night email to Apple CEO Tim Cook in 2013 from scientist Marcelo Lamego, formerly of Cercacor Laboratories, a Masimo sister company, may have sparked a legal battle between Apple and Masimo Corporation. The dispute involves allegations of patent infringement and talent poaching related to blood-oxygen monitoring technology in the Apple Watch. Masimo claims Lamego brought over proprietary technology to Apple, which Apple denies. The legal issues led to a temporary ban on Apple Watch sales in the U.S., which was halted by an appellate court. Masimo is seeking a settlement, while Apple maintains its innocence and emphasizes its internal development.

Portfolio Pulse from Ramakrishnan M

December 28, 2023 | 5:57 am

COIN

MSTR

Bitcoin SV (BSV) experienced a significant surge, increasing over 51% and outperforming Bitcoin (BTC) and Ethereum (ETH). The spike in BSV's price was accompanied by a substantial increase in trading volume, which rose by over 877%. Short positions in BSV worth over $3 million were liquidated. The crypto market overall is rallying, with Bitcoin around the $44,000 mark. MicroStrategy's CEO Michael Saylor announced the purchase of an additional 14,620 BTC, which may have contributed to the market's positive sentiment. Bitcoin SV emerged from a hard fork of Bitcoin Cash in 2018. Coinbase Global Inc has discontinued support for BSV.

Portfolio Pulse from Mehab Qureshi

December 28, 2023 | 5:41 am

AMD

BITO

COIN

PLTR

SSYS

TWLO

VCYT

Ark Invest, led by Cathie Wood, purchased over $92 million of ProShares Bitcoin Strategy ETF (BITO) and sold shares of Coinbase (COIN), Block (SQ), and Palantir (PLTR). The firm also reduced holdings in Stratasys (SSYS), Advanced Micro Devices (AMD), Twilio (TWLO), and Veracyte (VCYT). These trades reflect Ark's strategic adjustments in the cryptocurrency market and other sectors.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 4:19 am

MSTR

MicroStrategy purchased an additional 14,620 BTC for approximately $615.7 million, boosting its total holdings to 189,150 BTC valued at around $5.9 billion. This acquisition coincided with a rise in major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Analysts provided insights on the market, with predictions of Bitcoin reaching $130K based on technical indicators and cycle theories.

Portfolio Pulse from Mehab Qureshi

December 28, 2023 | 3:11 am