Streetbeat News

Acquisitions Mergers

EQNR

Equinor ASA (NYSE:EQNR) has signed a long-term gas sales agreement with Germany's SEFE worth EUR 50 billion, to supply 111 TWh of natural gas annually from 2024 to 2034, with an option to extend for another five years. Additionally, a non-binding LoI for SEFE to off-take low-carbon hydrogen from Equinor starting in 2029 was signed. Despite this, EQNR shares are trading lower by 1.04% in premarket.

Portfolio Pulse from Lekha Gupta

December 19, 2023 | 1:42 pm

CLRB

Cellectar Biosciences, Inc. (NASDAQ:CLRB) has expanded its licensing agreement with the Wisconsin Alumni Research Foundation (WARF) for intellectual property related to iopofosine I 131, a compound being researched for the treatment of pediatric cancers. The agreement grants Cellectar exclusive rights to develop and commercialize iopofosine for pediatric solid cancers. The company's position in radiopharmaceutical patents is strengthened by this agreement. Cellectar has also received a $2 million NCI grant to evaluate iopofosine in pediatric high-grade gliomas, with patient enrollment expected soon.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:33 pm

ALDX

CGEN

IFBD

Compugen announced it will receive a $10M milestone payment as its drug enters a Phase 3 trial with AstraZeneca for biliary tract cancer, causing CGEN stock to surge 240%. Infobird reported a new business cooperation in software development for IT systems, leading to a 152% increase in IFBD shares. Aldeyra Therapeutics revealed positive Phase 2 trial results for ADX-629 in treating atopic dermatitis, resulting in a 42% rise in ALDX stock.

Portfolio Pulse from ryanfaloona@benzinga.com

December 19, 2023 | 1:33 pm

ACN

BLK

CRM

IBM

KD

BlackRock's Investment Institute's 2024 Global Outlook suggests AI investment opportunities are shifting from semiconductors and cloud computing to AI Model infrastructure. Companies like NVIDIA, AMD, Alphabet, Microsoft, and Broadcom have benefited from the AI boom in 2023. BlackRock highlights IBM, Salesforce, Accenture, and Kyndryl as key players in the AI Model infrastructure space, with IBM acquiring StreamSets and webMethods, and Accenture acquiring Ammagamma. BlackRock is overweight on AI theme in developed market stocks for the next 6-12 months, expecting tech sector earnings to drive U.S. corporate profit growth in 2024.

Portfolio Pulse from Surbhi Jain

December 19, 2023 | 1:22 pm

NRXP

NRx Pharmaceuticals has entered into an agreement with Columbia University for the rights to data from a trial on the effectiveness of Ketamine in treating acute suicidality in depression. The trial showed Ketamine to be highly effective, and NRx plans to use this data to support a New Drug Application to the FDA in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:19 pm

ADM

Fuerst Day Lawson Limited (FDL), a portfolio company of Highlander Partners, has agreed to be acquired by Archer-Daniels-Midland Company (ADM), a global leader in human and animal nutrition. FDL specializes in natural taste and nutrition solutions for various products and markets, with a presence in Europe, the US, and Asia. The acquisition is part of ADM's strategy to expand its flavors capabilities, following previous acquisitions and investments in the sector. The transaction is subject to customary closing conditions, and financial terms were not disclosed. Rothschild & Co. and DLA Piper UK LLP are advising FDL on the deal.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:16 pm

MS

UBS

Cevian Capital AB has invested in UBS Group AG, acquiring about 1.3% of the bank, with the aim of challenging Morgan Stanley's position in wealth management. Cevian's €1.2 billion investment is based on the belief that UBS can double its share price in the next 2-3 years, especially after the acquisition of Credit Suisse. UBS's shares have risen by 50% since the Credit Suisse rescue announcement, and the bank is expected to reveal more about its strategy in February. Cevian's investment history includes stakes in Danske Bank, Swedbank, and a board position in Nordea Bank.

Portfolio Pulse from Shivani Kumaresan

December 19, 2023 | 1:15 pm

BIOR

Biora Therapeutics, Inc. (NASDAQ:BIOR) has received a patent issue notification from the U.S. Patent and Trademark Office for a method of treating gastrointestinal disorders using targeted delivery of JAK inhibitors with its NaviCap platform. The patent, which will be issued as US Patent No. 11,857,669, covers a range of JAK inhibitors for various indications. The NaviCap platform is part of a larger patent portfolio that includes 30 families, 86 granted patents, and 81 pending applications. Biora is preparing to initiate a phase 1 trial for its BT-600 program, which utilizes the targeted delivery technology.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:12 pm

ORCL

North Memorial Health has chosen Oracle Fusion Cloud Applications Suite to consolidate and streamline its finance, supply chain, and HR processes. This move aims to improve operational efficiency, reduce costs, and enhance the employee and patient experience by replacing 14 different business systems with Oracle's integrated cloud suite. The implementation includes Oracle Fusion Cloud ERP, EPM, SCM, and HCM, which will provide continuous innovation with quarterly updates.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:11 pm