Streetbeat News

Acquisitions Mergers

AAPL

AMZN

BTCUSD

GOOG

INDA

META

MSFT

NVDA

QQQ

SPOT

SPY

TSLA

Bitcoin (BTC) surpassed $40,000 over the weekend due to whale activity and subsequent retail investor buying, potentially moving towards the first resistance zone. The Arora Report suggests understanding whale behavior, the lack of large-scale benefits of Bitcoin, and the impact of a potential spot Bitcoin ETF on liquidity to make money in Bitcoin. In India, the BJP's recent election victories are expected to attract foreign investment, presenting opportunities better than the iShares MSCI India ETF (INDA). Spotify (SPOT) announced a 17% workforce reduction, its third round of layoffs. Early trades show negative money flows in major tech stocks (AAPL, AMZN, GOOG, META, MSFT, NVDA, TSLA) and ETFs (SPY, QQQ), with the momo crowd buying and smart money locking in stocks and gold.

Portfolio Pulse from The Arora Report

December 04, 2023 | 2:59 pm

ALK

ATHE

DUNE

EYPT

NEXI

UCAR

The Nasdaq Composite fell over 100 points on Monday, with the Dow and S&P 500 also trading lower. Consumer staples shares rose, while information technology shares saw a decline. Alaska Air Group Inc (ALK) announced an acquisition of Hawaiian Holdings Inc (HA) for approximately $1.9 billion, including HA's net debt. EyePoint Pharmaceuticals (EYPT), Hawaiian Holdings (HA), and Alterity Therapeutics (ATHE) saw their shares rise significantly. U Power (UCAR), Dune Acquisition Corporation (DUNE), and NexImmune (NEXI) experienced notable declines in their share prices. Oil and gold traded down, while European and Asian markets showed mixed results.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 2:58 pm

GOOG

GOOGL

MSFT

TSLA

Larry Page and Elon Musk's friendship ended after a debate on AI's threat to humanity. Page, co-founder of Alphabet Inc., accused Musk, co-founder of Tesla Inc., of being a 'speciesist' for preferring humans over AI life forms. Musk, concerned about AI's potential to eliminate humanity, tried to prevent DeepMind's acquisition by Google but failed. He later co-founded OpenAI, backed by Microsoft Corp., but left due to similar concerns and has called for a pause in AI development.

Portfolio Pulse from Rounak Jain

December 04, 2023 | 2:49 pm

SSNT

SilverSun Technologies Inc (NASDAQ:SSNT) stock surged over 100% after the announcement that Jacobs Private Equity II will invest $1 billion in the company. Jacobs will take over as CEO and majority stockholder, with plans to spin off the current business and create a new platform for acquisitions in an undisclosed industry, as well as rebrand the company. The investment and leadership change signal a strategic shift, leveraging Jacobs' experience in building large companies through mergers and acquisitions.

Portfolio Pulse from Henry Khederian

December 04, 2023 | 2:21 pm

SSNT

SilverSun Technologies' stock price is on the rise following the announcement that Jacobs Private Equity II and minority co-investors will invest $1 billion in the company.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:20 pm

MCD

McDonald's Corp (NYSE:MCD) is taking a bold step by acquiring Carlyle Group Inc's (NASDAQ:CG) minority stake in its China business, aiming for aggressive expansion despite a consumer slowdown and geopolitical tensions. This move goes against the trend of multinationals scaling back in China. The market for limited-service restaurants in China is expected to grow 4% annually through 2025, with McDonald's holding a 70% share in the burger segment.

Portfolio Pulse from Lekha Gupta

December 04, 2023 | 2:19 pm

TMTCU

TMT Acquisition Corp has entered into a merger agreement with eLong Power, a provider of specialty battery technologies. Upon the closing of the deal, eLong Power's shareholders are set to receive 45 million ordinary shares of eLong Power Inc., with an implied value of $10 per share. This transaction will likely result in eLong Power becoming a publicly traded entity through a reverse merger with TMT Acquisition Corp.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:18 pm

MCOM

Micromobility.com Inc. (NASDAQ:MCOM) CEO Salvatore Palella addresses shareholders, outlining strategic initiatives for profitability and market expansion. The company is pivoting to branded retail and profitable sharing services, with significant cost reductions in Q2. They are introducing Long-Term Rentals (LTR) in key cities and integrating fintech payment solutions, with plans to expand retail outlets in various U.S. cities. MCOM is negotiating a loan leveraging IP and pursuing M&A activities, focusing on profitable growth. The CEO acknowledges past challenges, particularly in the media business segment, and emphasizes a commitment to financial sustainability and shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:17 pm

ALK

COIN

QQQ

SAIC

SPOT

SPY

UBER

U.S. stock futures indicate a weak opening as investors react to Fed Chair Powell's comments on potential policy tightening. Gold prices hit record highs amid geopolitical tensions, while Bitcoin soars past $40,000. Crude oil prices drop due to OPEC+ output cuts and demand concerns. Premarket trading sees SPY and QQQ ETFs down, while individual stocks like COIN, UBER, SPOT, SAIC, and ALK show significant movements. ALK's planned acquisition of HA causes a surge in HA's stock.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 2:14 pm

UCAR

U Power Limited (NASDAQ:UCAR), an EV battery power solution provider in China, has announced the pricing of a follow-on offering of 10 million units at $1.20 each. The offering includes ordinary shares and Series A and B warrants exercisable at $1.20 and $1.54 respectively, expiring in five years. The expected closing date is December 6, 2023, with anticipated gross proceeds of $12 million, to be used for M&A of battery swapping companies, working capital, and general corporate purposes. Univest Securities, LLC is the placement agent, with Hunter Taubman Fischer & Li LLC and Ortoli Rosenstadt LLP as U.S. securities and counsel respectively.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:04 pm