Streetbeat News

Acquisitions Mergers

ZKIN

ZK International Group Co., Ltd. (NASDAQ:ZKIN) has won an $8 million bid to supply gas piping infrastructure to Chongqing Gas Group, enhancing its position in the Western China gas market. This bid is part of a larger initiative by China's Ministry of Ecology and Environment to replace coal with clean energy, increasing demand for natural gas infrastructure. Chongqing Gas Group is a division of China Resources Gas Group Limited, listed on the Shanghai Stock Exchange under stock code 600917.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:10 pm

EBIX

IFBD

MOTS

Motus GI Holdings, Inc. (MOTS) shares plummeted by 46.5% in pre-market trading after announcing a $5 million public offering. Other stocks experienced significant movement in pre-market trading, with notable gainers including Infobird Co., Ltd. (IFBD), Jin Medical International Ltd. (ZJYL), and SOBR Safe, Inc. (SOBR), among others. Conversely, several companies saw their shares decline, such as ETAO International Co., Ltd. (ETAO), bluebird bio, Inc. (BLUE), and Ebix, Inc. (EBIX), which filed for Chapter 11 bankruptcy.

Portfolio Pulse from Avi Kapoor

December 19, 2023 | 1:09 pm

MARA

Marathon Digital has signed a definitive purchase agreement to acquire two operational Bitcoin mining sites with a total capacity of 390 megawatts from Generate Capital's subsidiaries for $178.6 million. These will be the first fully owned sites for Marathon, offering expansion opportunities, operational efficiencies, and increasing its Bitcoin mining capacity by 56% to 910 megawatts.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:05 pm

ILMN

Carl Icahn is intensifying his boardroom battle at Illumina Inc (NASDAQ:ILMN) by seeking to remove more directors after the company's decision to divest Grail Inc. Icahn, who successfully pushed for the ousting of former CEO Francis deSouza and the divestiture of Grail, now aims to remove 'legacy conflicted directors' whom he blames for poor decision-making and a significant drop in Illumina's share price. The activist investor's plans may change before the January 26 nomination deadline, with voting on nominees expected at the next annual general meeting.

Portfolio Pulse from Vandana Singh

December 19, 2023 | 12:58 pm

HYMTF

Hyundai Motor Co (OTC:HYMTF) is selling its manufacturing plant in Russia to Art-Finance LLC for a nominal 7,000 roubles ($77.67). The company has disclosed a loss of 287 billion won ($219.19 million) on the sale. The St. Petersburg-based facility has been inactive since March 2022. Despite the divestiture, Hyundai plans to continue providing after-sales services in Russia. HYMTF shares dropped by 2.82% to close at $41.30 on Monday.

Portfolio Pulse from Lekha Gupta

December 19, 2023 | 12:17 pm

CYD

EAF

KITT

SFWL

VLD

The article highlights the top 5 oversold industrial stocks with an RSI near or below 30, suggesting potential undervaluation. Nauticus Robotics (KITT) disclosed a $34 million acquisition deal. China Yuchai (CYD) won a significant order. Velo3D (VLD) announced a CEO change. Shengfeng Development (SFWL) saw a 68% drop in shares over five days. GrafTech International (EAF) reported disappointing Q3 results.

Portfolio Pulse from Avi Kapoor

December 19, 2023 | 12:14 pm

CGEN

GILD

Gilead Sciences has entered into an exclusive license agreement with Compugen for a pre-clinical immunotherapy program, potentially worth up to $848 million. Gilead will pay Compugen $60 million upfront, $30 million upon IND clearance of COM503, and up to $758 million in additional milestone payments. Compugen is also set to receive royalties on worldwide net sales.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:04 pm

BUD

CABGY

HEINY

Anheuser-Busch InBev SA (NYSE:BUD) has agreed to transfer its stake in a Russian joint venture to Anadolu Efes, a Turkish partner, without immediate payment. Future compensation will depend on the venture's performance, with the transaction valued between $1.1 billion and $1.3 billion. This divestment is part of a broader trend of European companies leaving Russia due to geopolitical tensions. Carlsberg A/S (OTC:CABGY) and Heineken N.V. (OTC:HEINY) have also exited the Russian market, with Carlsberg's local unit seized by Russia and Heineken selling its business at a loss. BUD shares saw a slight increase of 0.30% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 19, 2023 | 11:48 am

CG

Exiger, a leading SaaS company in AI supply chain risk management, will receive a majority investment from Carlyle (NASDAQ:CG) and Insight Partners. This partnership will support Exiger's continued investment in its AI solutions for government and commercial markets. Exiger's management, founders, and Carrick Capital Partners will reinvest equity in this transaction.

Portfolio Pulse from Charles Gross

December 19, 2023 | 11:16 am

AU

AngloGold Ashanti plc (AGA) plans to invest C$22.05 million in G2 Goldfields Inc. by subscribing for 24,500,000 common shares at C$0.90 each. Upon completion, AGA will hold an 11.7% stake in G2 Goldfields.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 11:11 am