Streetbeat News

Acquisitions Mergers

LTHM

Livent Corp (NYSE:LTHM) has acquired a minority stake in the parent company of ILiAD Technologies, a subsidiary of EnergySource Minerals. ILiAD Technologies specializes in direct lithium extraction technology. Livent will have rights to license ILiAD's technology for use in Argentina, with commercial utilization expected by 2025. Livent's stock (LTHM) is up 1.74% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 15, 2023 | 11:18 am

WBS

Webster Financial has signed a definitive agreement to acquire Ametros Financial Corp. The transaction is anticipated to be completed in the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 11:04 am

AMZN

Jeff Bezos attributed his departure as CEO of Amazon to his desire to focus on Blue Origin, aiming to accelerate its progress. He envisions a future with 'trillion humans' living in space, facilitated by giant space stations. Bezos sees space as a domain with room for multiple winners, similar to the internet, and regards SpaceX as a potential successful player alongside Blue Origin.

Portfolio Pulse from Anan Ashraf

December 15, 2023 | 10:01 am

LTHM

Livent Corporation has taken a minority stake in ILiAD Technologies to enhance its position in direct lithium extraction processes. This strategic investment aims to strengthen Livent's leadership in the lithium industry.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 6:46 am

AMZN

RIVN

T

Gary Black, Future Fund Managing Partner, is optimistic about Rivian Automotive Inc's prospects, expecting it to deliver 54,000 vehicles in 2023, including 14,000 delivery vans. AT&T Inc announced a pilot program to purchase EVs from Rivian, marking Rivian's first deal since ending its exclusivity agreement with Amazon.com Inc. Black predicts Rivian will become gross margin positive by Q4 2024 and EBITDA positive by 2026. Rivian shares closed 14% higher at $22.43 following the announcement.

Portfolio Pulse from Anan Ashraf

December 15, 2023 | 5:05 am

COST

LEN

MRNA

PFE

TSLA

The stock market saw gains with Dow Jones, S&P 500, and Nasdaq up. Costco's Q1 results beat expectations despite a stock dip. Pfizer's stock fell but has strong growth prospects with Seagen acquisition. Moderna's stock surged on positive cancer vaccine trial results. Lennar's stock rose after strong quarterly earnings. Tesla's stock increased, benefiting from a partnership with Uber.

Portfolio Pulse from Benzinga Neuro

December 15, 2023 | 2:34 am

BA

GOOG

GOOGL

LMT

SpaceX's valuation has reached $180 billion in a recent tender offer, surpassing its previous $150 billion valuation and exceeding the market capitalizations of major companies like Boeing (BA) and Lockheed Martin (LMT). The company's rocket launches and Starlink are projected to generate $9 billion in revenue in 2023, with an estimate of $15 billion by 2024. SpaceX is now the second most valuable private company, behind ByteDance. Investors in SpaceX include Alphabet Inc (GOOG, GOOGL), Fidelity, and Baillie Gifford. Speculation about a potential IPO for SpaceX or its Starlink unit continues.

Portfolio Pulse from Chris Katje

December 14, 2023 | 11:49 pm

PFE

Nona Biosciences has entered into an exclusive license agreement with Pfizer for the MSLN-targeted antibody-drug conjugate, HBM9033. Nona will receive up to $53 million in upfront and near-term payments, and could receive up to $1.05 billion in milestones, plus royalties. This partnership with Pfizer expands Nona's global collaborations and underscores its commitment to technology innovation in therapeutics development.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 11:37 pm

RCAC

Set Jet and Revelstone Capital Acquisition Corp. have received effectiveness for their S-4 registration statement, a key step towards completing their previously announced proposed business combination.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 10:18 pm

AVGO

Broadcom is anticipated to face additional restructuring and other charges in future periods due to the merger with VMWare and potential further acquisitions, as disclosed in their 10-K filing.

Portfolio Pulse from Charles Gross

December 14, 2023 | 10:05 pm