Streetbeat News

Acquisitions Mergers

GRCL

HOLI

NVDA

SSYS

TSLA

USDT-USD

Sam Altman's Worldcoin outperformed Bitcoin and Ethereum during Christmas as technical indicators turned bullish. Tether issued $1B USDT on Ethereum's network. Solana surpassed $100 with increased network activity, and Dogecoin's growing addresses could signal a rally. Over 90,000 Bitcoin wallets are now worth $1M+. The SEC is in talks with major players regarding a Bitcoin ETF. US markets saw pre-market movement in stocks like Gracell Biotechnologies, Stratasys, and Hollysys Automation Technologies. The FBI is concerned about China's AI misuse for espionage. In tech, Nvidia is poised to become the biggest chipmaker by revenue, and Tesla's stock rebounded post-Christmas. An AI startup backed by LVMH can verify the authenticity of Louis Vuitton bags.

Portfolio Pulse from Akanksha Bakshi

December 26, 2023 | 1:55 pm

AWIN

AERWINS Technologies' stock is trading higher following the announcement of a letter of intent to form a joint entity with Helicopter Technology, where AERWINS will hold a 70% stake and Helicopter Technology will hold 30%.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 1:50 pm

BMY

RYZB

Bristol Myers Squibb (BMY) is set to acquire RayzeBio (RYZB) for $4.1 billion, enhancing its oncology portfolio with RayzeBio's radiopharmaceutical therapeutics (RPT) platform. The deal, expected to close in the first half of 2024, will be financed mainly through new debt and is anticipated to dilute BMY's non-GAAP diluted EPS by $0.13 in 2024. RYZB shares surged over 100% in premarket trading.

Portfolio Pulse from Vandana Singh

December 26, 2023 | 1:48 pm

NNDM

SSYS

Stratasys shares are up following a preliminary acquisition proposal from Nano Dimension, offering $16.50 per share in cash for all outstanding shares.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 1:33 pm

BCEL

IMNM

Immunome, Inc. (IMNM) has entered into an agreement to acquire antibody-related assets from Atreca, Inc. (BCEL). The deal includes a $5.5M upfront payment and up to $7M in clinical development milestones. The transaction is contingent on customary conditions and a stockholder vote from Atreca.

Portfolio Pulse from Happy Mohamed

December 26, 2023 | 1:31 pm

AZN

GRCL

Gracell Biotechnologies has agreed to be acquired by AstraZeneca for about $1.2 billion, causing GRCL shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 1:23 pm

BMY

RYZB

RayzeBio will be acquired by Bristol Myers Squibb for $62.50 per share in cash, totaling $4.1 billion. RayzeBio shares are trading higher following the announcement.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 1:12 pm

AEPT

WORX

American Environmental Partners, Inc. (OTC:AEPT) has signed a definitive agreement for a reverse merger with SCWorx Corp. (WORX). The merger is expected to close in Q1 2024, subject to approvals. Post-merger, AEPT shareholders will own 83% of the combined company, which will list on Nasdaq under the ticker AEPT. The transaction includes a pre-merger capital raise of up to $6 million by AEPT.

Portfolio Pulse from Happy Mohamed

December 26, 2023 | 1:07 pm

CRGE

NTES

VSME

The article highlights three oversold tech and telecom stocks in the communication services sector with RSI values near or below 30, suggesting potential undervaluation. NetEase, Inc. (NTES) reported Q3 revenue growth but missed consensus and experienced a CFO resignation, leading to a 15% stock decline over five days. Charge Enterprises, Inc. (CRGE) reported downbeat quarterly sales but growth in infrastructure, resulting in a 42% stock decline over a month. VS MEDIA Holdings Limited (VSME) announced pricing of IPI at $5.00 per share, with a 44% stock decline over a month.

Portfolio Pulse from Avi Kapoor

December 26, 2023 | 1:04 pm

BRO

Brown & Brown, Inc. (NYSE:BRO) has announced an agreement to acquire the assets of Caton-Hosey Insurance, with the transaction expected to close in early January 2024. Caton-Hosey has a long-standing presence in the Florida insurance market and will continue to operate from their current location under existing leadership. The acquisition is seen as a positive move, with both companies sharing a customer-first philosophy and a history of friendly competition.

Portfolio Pulse from Happy Mohamed

December 26, 2023 | 12:54 pm