Streetbeat News

Acquisitions Mergers

SPIR

Spire Global, Inc. (SPIR) has been awarded a contract by Lacuna Space to build and operate six satellites for an IoT constellation, with potential expansion to dozens more. The satellites will enhance Lacuna's IoT network for global connectivity in various industries, including agriculture and logistics. Spire's Space Services will handle the end-to-end management of the satellites, leveraging its existing infrastructure to offer cost-effective and scalable access to space.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 4:15 pm

ADM

ADM is expanding its oilseed crush capacity in Brazil by 400,000 metric tons per year across three facilities due to strong domestic and export demand. Additionally, ADM has acquired a controlling stake in Buckminster Química, a producer of refined glycerin, to enhance its portfolio of sustainably sourced products. The financial terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 4:01 pm

ACB

TLRY

Tilray Brands CEO Irwin Simon visited Israel to meet business partners and traveled to Germany in anticipation of cannabis legalization. Tilray (NASDAQ:TLRY) is well-positioned to benefit from potential German legalization, with its European headquarters in Germany. Aurora Cannabis (NASDAQ:ACB) is also among the companies likely to benefit. Despite a delay in the German legalization vote, Tilray shares rose 8.42% and an additional 0.24% after hours on Monday.

Portfolio Pulse from Nina Zdinjak

December 05, 2023 | 3:43 pm

MLTX

MoonLake Immunotherapeutics shares surged following unconfirmed market rumors of a takeover approach, as discussed in a blog post being circulated among traders.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 3:23 pm

CMND

CYBN

PSIL

SEEL

SPRC

The Department of Defense Health Agency is funding a trial for PTSD treatment using Seelos Therapeutics' intranasal ketamine, SLS-002. Cybin Inc. reported strong efficacy in its Phase 2 trial of psilocybin derivative CYB003 for Major Depressive Disorder. Clearmind Medicine announced results from a pre-clinical trial combining its MEAI treatment with SciSparc's PEA for various disorders. Clearmind also underwent a reverse stock split to comply with Nasdaq's minimum bid price rule. Beckley Retreats is launching a new psilocybin retreat program, and Mindbloom is introducing a ketamine therapy program. Seelos Therapeutics launched a public offering, and other companies reported financial results or updates. The AdvisorShares Psychedelics ETF and several psychedelics stocks' trading performance are also highlighted.

Portfolio Pulse from Lara Goldstein

December 05, 2023 | 3:12 pm

PM

Philip Morris International Inc. (PM) presented at the 2023 Morgan Stanley Global Consumer & Retail Conference, forecasting FY23 adjusted diluted EPS of $6.05-$6.08, excluding currency impacts of $6.58-$6.61, compared to the $6.11 estimate. The company also provided a breakdown of adjustments affecting reported and adjusted diluted EPS, including asset impairment, termination of distribution arrangements, and costs related to the Swedish Match AB offer and acquisition.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 3:04 pm

BABA

FXI

PDD

Alibaba Group Holding Ltd (BABA) stock is trading lower, in line with the IShares China Large-Cap ETF (FXI), due to Moody's negative outlook on China's credit ratings. Alibaba lost its position as China's most valuable e-commerce company to PDD Holdings Inc (PDD). Cainiao, Alibaba's logistics arm, helped China achieve a record 120 billion parcel deliveries in 2023. Alibaba (China) Network Technology has transferred equity stakes in several companies to Hangzhou Haoyue Enterprise Management, including stakes in Focus Media and YTO Express.

Portfolio Pulse from Anusuya Lahiri

December 05, 2023 | 3:00 pm

BLEG

Branded Legacy, Inc. (OTC.PK: BLEG) has acquired MariJ Pharmaceuticals, Inc., a Florida-based company specializing in organic mobile extraction and production of CBD from industrial hemp. The acquisition includes physical assets, intellectual property, and operational tools, aiming to enhance Branded Legacy's product range, production capabilities, and market presence. Following the announcement, BLEG shares rose 12.94% to $0.0035 per share.

Portfolio Pulse from Jelena Martinovic

December 05, 2023 | 2:33 pm

AAPL

BLK

EADSY

ERIC

F

GM

IBM

META

MMSI

MSFT

MSTR

NIO

TSLA

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a spike due to 'panic buying' and a weak dollar. BlackRock received seed funding for a Bitcoin ETF, and MicroStrategy profited as Bitcoin rallied. In Brazil, legislation drafted by ChatGPT was passed unanimously. In the US, stocks like Merit Medical Systems moved lower in pre-market, while investor sentiment remained in the 'greed' zone. Tech companies like IBM, Meta, and Microsoft announced significant developments. Electric vehicle companies like Nio, Tesla, and Ford reported on sales and legal challenges. General Motors and Dave & Buster's faced business hurdles, while Ericsson secured a major deal. Airbus is close to its 2023 delivery target.

Portfolio Pulse from Akanksha Bakshi

December 05, 2023 | 2:21 pm

AJG

Arthur J. Gallagher & Co. has acquired Hunt Insurance Agency, Inc., also known as Hunt Insurance Group, based in Palos Heights, Illinois. The financial terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 2:15 pm