Streetbeat News

Acquisitions Mergers

ACN

Accenture (NYSE:ACN) is set to acquire Italian technology consultancies Customer Management IT and SirfinPA, which specialize in the public sector, particularly justice and public safety. This move is part of Accenture's strategy to strengthen its digital transformation services for Italy's public service organizations, aiming to improve citizen services.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 9:35 am

TTE

TotalEnergies (TTE) has agreed to sell a 25.5% equity stake in the Seagreen Offshore Wind Farm to Thailand's PTTEP for £522 million ($689 million).

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 8:34 am

RY

The Royal Bank Of Canada (RBC) has received approval from the Finance Minister to proceed with its acquisition of HSBC Canada. This historic transaction is significant as it ensures that a larger portion of Canada's banking sector remains under Canadian control. The acquisition is expected to strengthen RBC's position as the preferred bank for clients with global connections.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 6:58 am

GFI

Gold Fields Limited (GFI) has announced its intention to acquire additional shares of Galiano Gold as it disposes of its interest in the Asanko Gold Mine. This strategic move will alter Gold Fields' investment in Galiano Gold, although specific details regarding the number of shares or the timeline were not provided in the article.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 6:55 am

BA

Boeing Co. (NYSE:BA) has resumed direct deliveries of its 787 Dreamliner to China with the first delivery to Juneyao Airlines since November 2019. This event marks a significant step for Boeing, which has been working to ramp up production and deliveries of new jets, including the 737 Max, which deliveries to China were halted almost five years ago due to safety concerns. The resumption of deliveries follows Boeing's recent approval from China's aviation regulator to resume 737 MAX deliveries and a competitive deal with Thai Airways favoring the 787 over Airbus.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 5:13 am

BRK

OXY

Berkshire Hathaway, led by Warren Buffett, has increased its stake in Occidental Petroleum to nearly 28% following Occidental's $12 billion acquisition of CrownRock L.P. Berkshire purchased additional shares of Occidental over three days, totaling $312.09 million. Berkshire now holds 243.7 million shares, and also has preferred shares convertible to 83.9 million shares at $59.624 each. Despite the increased stake, Buffett has stated he does not intend to acquire Occidental.

Portfolio Pulse from Shanthi Rexaline

December 22, 2023 | 4:57 am

HUGE

FSD Pharma (NASDAQ:HUGE), originally a licensed cannabis producer, has transitioned into biotech with two innovative products: UNBUZZD, a drink for rapid recovery from inebriation, and Lucid-MS, a drug candidate for Multiple Sclerosis (MS) treatment. UNBUZZD, developed by Lucid Psycheceutical, is expected to launch by Q1 2024 and aims to reduce Breath Alcohol Concentration quickly using natural ingredients. Lucid-MS represents a novel approach to MS treatment by promoting re-myelination rather than immunosuppression, with promising preclinical results and ongoing Phase 1 trials. The global MS treatment market was valued at $23 billion in 2022.

Portfolio Pulse from Lara Goldstein

December 22, 2023 | 3:19 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), advised against companies going public due to the legal burdens and the risk of constant lawsuits. In a conversation with Ark Invest CEO Cathie Wood, Musk emphasized the challenges of being a public company, including the pressure to deliver strong quarterly reports. He also discussed the potential of taking SpaceX public, suggesting it's not worth it until a stable revenue stream is established. Musk highlighted his success in private funding rounds and the benefits of having multiple investors for valuation and employee liquidity.

Portfolio Pulse from Chris Katje

December 21, 2023 | 11:50 pm

DOGE-USD

PYPL

Elon Musk, in a conversation with Cathie Wood, indicated that his company X (formerly Twitter) could obtain the necessary state licenses for financial payments by mid-2024. Musk mentioned that X is awaiting final transmitter licenses, with approvals from New York and California being crucial. This development could position X as a super app and put it in competition with online payment companies like PayPal Holdings (NASDAQ:PYPL). Musk also noted that cryptocurrencies like Dogecoin (CRYPTO:DOGE) could be used for payments on X, although X will not offer its own coin.

Portfolio Pulse from Chris Katje

December 21, 2023 | 11:20 pm

AA

ABAT

NUE

Alcoa Corporation appoints Matt Reed as new EVP and COO, effective Jan. 1, 2024, to lead global operations. Bank of America analyst Lawson Winder raises Alcoa's price target to $36 with a neutral rating. American Battery Technology Company announces a positive initial assessment for its Tonopah Flats Lithium Project, estimating a resource of 18.03 million tons of lithium hydroxide monohydrate and a net present value of $4.41 billion. Nucor Corp's COO, David Sumoski, exercises stock options for 28,768 shares, totaling $3,727,182.

Portfolio Pulse from Austin DeNoce

December 21, 2023 | 10:33 pm