Streetbeat News

Acquisitions Mergers

GBTC

Grayscale Investments CEO Michael Sonnenshein discussed the potential impact of a spot Bitcoin ETF on the crypto market, suggesting it could unlock $30 trillion in advised wealth. He emphasized the benefits for institutional adoption and smooth participation in the crypto market. Crypto analyst MDBitcoin and The Bitcoin Therapist also commented on the potential for significant market growth if a small percentage of the $30 trillion is invested in Bitcoin. Bitcoin's price has seen a recent surge, with a 1.3% increase in the past 24 hours and a 14.5% gain over the past 30 days.

Portfolio Pulse from Khyathi Dalal

December 19, 2023 | 11:59 pm

LTHM

NCR

VOYA

Livent Corporation (LTHM) is set to join the S&P MidCap 400 index, taking the place of NCR Corporation (NCR), which will be removed from the index. This change is due to the acquisition of NCR by an affiliate of Veritas Capital, which will result in NCR becoming a private company. The S&P MidCap 400 index will also see the addition of Voya Financial, Inc. (VOYA), which will be replacing Livent in the S&P SmallCap 600 index.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:33 pm

SIEB

Siebert Financial and Kakaopay have mutually agreed to terminate the second tranche stock purchase agreement they entered into on April 27, 2023. No reasons for the termination were provided in the news article.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:32 pm

AAPL

AMZN

CRWD

CYBR

DIS

GOOG

GOOGL

MAGS

META

MSFT

NVDA

PANW

QQQ

TENB

TSLA

Wedbush analyst Daniel Ives predicts major developments in the tech sector for 2024, including AI going mainstream, Apple introducing an AI App Store, increased M&A activity, Tesla launching a sub-$30K vehicle, tech stocks rising by 25%, Apple potentially acquiring ESPN, cybersecurity being the top sub-sector, the 'Magnificent 7' leading tech growth, Musk advancing the super-app concept for X, and Apple and Microsoft reaching $4 trillion market caps.

Portfolio Pulse from Chris Katje

December 19, 2023 | 9:55 pm

FIS

Alchemy Pay has partnered with Worldpay, a U.K.-based payment provider, to facilitate the purchase of cryptocurrencies using Visa and Mastercard payment rails. This collaboration aims to bridge traditional finance with the Web3 economy, making digital assets and NFTs more accessible. Worldpay, which was acquired by FIS in 2019 and recently sold a majority stake to GTCR, processes over 130 million transactions daily and has partnerships with several major crypto entities.

Portfolio Pulse from Khyathi Dalal

December 19, 2023 | 9:51 pm

General Motors (GM) has reduced its Buick dealership network in the U.S. by about half through a voluntary buyout program, aiming to increase sales per location and profits. The program has cost GM approximately $1 billion and will continue into the next year. The reduction is also part of Buick's transition to exclusively offering electric vehicles (EVs) by 2030. Buick's U.S. sales have increased by 63% through the third quarter compared to the previous year, and the introduction of the new Envista crossover is expected to further boost sales.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:44 pm

FTCH

The NYSE is starting delisting proceedings against Farfetch due to its subsidiary's bridge financing agreements and asset disposal plans, which led to the resignation of all independent board members.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:43 pm

NVOS

Novo Integrated Sciences, Inc. (NASDAQ:NVOS) has received a partial assignment of a $1 Billion Gold-Bullion backed Bond from Blacksheep Trust. The Bond is a 20-year instrument with 12.5% annual interest, and the assignment to Novo is for up to 15 years without annual interest. This follows a Master Agreement between Novo and Blacksheep from September 27, 2023, for the transfer of $1 billion in collateral for monetization by Novo.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:40 pm

PRU

Prudential Financial, Inc. (NYSE:PRU) has entered into a $9.2 billion longevity risk transfer agreement with NN Life, a subsidiary of NN Group, marking its first international transaction in the Dutch market. The deal involves reinsuring over 200,000 policies and is part of Prudential's growth strategy to expand its Institutional Retirement Strategies business into The Netherlands. The company sees potential growth in the market following Dutch pension reform legislation.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:39 pm

CPK

Chesapeake Utilities Corporation's subsidiary, Sharp Energy, has acquired the propane operating assets of J.T. Lee and Son's in North Carolina. This acquisition adds approximately 3,000 customers and 800,000 gallons of propane distribution annually, along with a bulk plant with 60,000 gallons of storage. The deal is expected to bring cost savings and synergies due to an expanded service area in Wilmington.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:37 pm