Streetbeat News

Acquisitions Mergers

SSLZY

WDS

Woodside Energy (NYSE:WDS) and Santos Ltd. (OTC:SSLZY) are in early discussions about a potential merger that could create an A$80 billion ($52 billion) oil and gas giant. The merger would mark a significant consolidation in the global oil and gas industry. Woodside, with a market cap of A$56.91 billion, is larger than Santos, which has a market cap of A$22.1 billion. Both companies have experienced share price declines amid decarbonization pressures. The merger could strengthen their position in the LNG market and improve negotiations with buyers.

Portfolio Pulse from Akanksha Bakshi

December 07, 2023 | 4:49 pm

BATRA

DKNG

MGM

PDYPY

The New York Yankees acquired MLB superstar Juan Soto from the San Diego Padres, improving their odds for the 2024 World Series. Soto's impressive stats and history, including a World Series win and high MVP voting placements, bolster the Yankees' lineup. The trade has led to improved betting odds for the Yankees across various sportsbooks, including DraftKings, FanDuel, and BetMGM, with the team now among the top three favorites to win the World Series.

Portfolio Pulse from Chris Katje

December 07, 2023 | 4:22 pm

1357.HK

Meitu Inc. has completed a spinoff and funding round for its Singapore-based Pixocial unit, raising $22 million from investors including Fidelity's Eight Roads, valuing Pixocial at over $100 million. Pixocial, which contributed significantly to Meitu's 2022 net income, is now 80.6% owned by Meitu. The funding and spinoff may set Pixocial up for an IPO, with Meitu's stock rising nearly 7% post-announcement. Pixocial will focus on expanding its subscription services and B2B SaaS platform for creatives internationally.

Portfolio Pulse from The Bamboo Works

December 07, 2023 | 3:32 pm

ABBV

CERE

GOOGL

SMTC

VRNT

Verint Systems Inc. (VRNT) reported strong third-quarter earnings, surpassing market estimates and saw its shares rise by 14%. Other stocks also moved higher, including Semtech Corporation (SMTC) after reporting earnings and guidance, and Alphabet Inc. (GOOGL) following the launch of Gemini AI. Notably, Cerevel Therapeutics Holdings, Inc. (CERE) surged after an acquisition announcement by AbbVie Inc. (ABBV).

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 3:17 pm

TXT

Textron Aviation, a Textron Inc. (NYSE:TXT) company, has announced a sale of 40 additional Cessna Skyhawk aircraft to ATP Flight School, with deliveries starting in 2026. This deal is part of ATP's goal to train 20,000 airline pilots by 2030 and marks the fourth fleet purchase in just over a year, totaling 135 Skyhawks. The Skyhawk is a key training aircraft for ATP, which is expanding its fleet by 60% over the next three years. ATP is also investing in its flight operations center in Florida to enhance safety and efficiency.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 3:04 pm

BETS

CYN

MLGO

SVFD

TRKA

ZVSA

U.S. stocks traded higher with the Nasdaq Composite up by 100 points. Communication services shares led gains, while health care shares declined. U.S. initial jobless claims edged higher by 1,000 to 220,000. Save Foods, Inc. (SVFD) surged 189% targeting the US carbon credit market. Cyngn Inc. (CYN) rose 72% on a new patent. MicroAlgo Inc. (MLGO) gained 41% after announcing a postgraduate training practice base. Troika Media Group, Inc. (TRKA) filed for Chapter 11, causing a 74% drop. ZyVersa Therapeutics, Inc. (ZVSA) fell 44% after pricing a public offering. Bit Brother Limited (BETS) dropped 40% after a direct offering announcement.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 2:49 pm

AAPL

CRM

META

PLTR

TSLA

Bitcoin's bull run has led to a $2.6 billion loss for short sellers. SpaceX is negotiating an insider share sale at a $175 billion valuation. Sprinklr's earnings disappoint, while Ark Invest buys more Palantir stock. Crypto market shows mixed reactions post-jobs data. US and world economy reports indicate mixed sentiments. Tech companies like Apple and Meta are making AI advancements. Tesla faces accusations from a bear and launches new initiatives. McDonald's and Renault reveal new concepts, while GM's share buyback draws comparisons to BlackBerry. EU moves towards messaging app integration, and Meta enhances security. SpaceX's valuation talks and payload launch goals highlight space industry developments.

Portfolio Pulse from Akanksha Bakshi

December 07, 2023 | 2:21 pm

AAPL

BABA

BIDU

MSFT

NVDA

TCEHY

TSLA

Microsoft Corp's President Brad Smith met with China's Commerce Minister to discuss AI and trade, signaling potential cooperation between the U.S. and China. This follows a meeting between Presidents Biden and Xi Jinping. China is encouraging foreign enterprise services, with Microsoft expected to contribute to AI cooperation. U.S. tech firms face challenges due to technology tensions and export restrictions, notably Nvidia's AI chips. Despite this, recent visits by CEOs of Apple and Tesla to China indicate improving relations. Microsoft shares saw a slight premarket decrease.

Portfolio Pulse from Anusuya Lahiri

December 07, 2023 | 2:17 pm

SPRC

SciSparc intends to acquire a leading vehicle importer in Israel, with the aim to establish a wholly-owned subsidiary that would merge into the target company. The target company reported revenues of over $52 million for the first half of 2023. Post-acquisition, the target company's equity holders would own approximately 49.99% of the combined company, subject to adjustments. The acquisition is contingent on due diligence, definitive agreements, regulatory approvals, and shareholder and Israeli court approvals.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:07 pm

VMD

Viemed Healthcare, Inc. (VMD) has received approval to voluntarily delist its common shares from the Toronto Stock Exchange (TSX) to centralize trading on NASDAQ. The delisting will be effective after market close on December 21, 2023. This move aims to consolidate trading volumes, enhance market efficiency, and increase long-term liquidity and shareholder value on NASDAQ. Viemed's shares will continue to trade on NASDAQ under the symbol 'VMD', and Canadian shareholders will still be able to trade through their brokers on NASDAQ.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:02 pm