Streetbeat News

Acquisitions Mergers

JFBR

Jeffs' Brands' Board of Directors has announced that they will explore and evaluate potential strategic transactions. These may include further investments in innovative companies, acquisitions, or forming strategic partnerships.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 1:08 pm

HROW

Harrow Health, Inc. has successfully completed the transfer of the New Drug Application (NDA) for Triesence, a synthetic corticosteroid used to treat various ocular inflammatory conditions, to its own portfolio.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 12:14 pm

GBTC

MSTR

Andrew Tate compared Michael Saylor's responsible business practices at MicroStrategy with Sam Bankman-Fried's fraudulent activities at FTX. Tate highlighted Saylor's net-benefit approach to business, contrasting it with Bankman-Fried's 0-benefit strategy, which led to his conviction on fraud charges. Tate also discussed the potential SEC approval of a Bitcoin ETF, mentioning several contenders for the ETF including Grayscale, Ark/21 Shares, Bitwise, BlackRock, VanEck, WisdomTree, Valkyrie, Invesco Galaxy, and Fidelity Wise Origin.

Portfolio Pulse from Mehab Qureshi

November 29, 2023 | 12:04 pm

KKR

KKR & Co. Inc. (NYSE:KKR) has reached a definitive agreement to acquire the remaining 37% stake in Global Atlantic Financial Group LLC for $2.7 billion in cash, which will increase KKR's ownership in the insurance company to 100%.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 11:51 am

BYDDF

BYDDY

BYD Co Ltd., a Chinese electric vehicle manufacturer, paid tribute to the late Charlie Munger, who was instrumental in Berkshire Hathaway's investment in BYD in 2008. Munger, who passed away on November 28, was remembered by BYD as a 'symbol of wisdom and vision.' Berkshire Hathaway's stake in BYD, initially purchased for $230 million, has significantly increased in value as BYD transitioned from an ICE manufacturer to a producer of new-energy vehicles.

Portfolio Pulse from Shanthi Rexaline

November 29, 2023 | 11:39 am

DLTR

GM

Dollar Tree has begun a thorough review of its Family Dollar stores to realign its portfolio with the company's strategic vision. This may involve addressing underperforming stores. Additionally, General Motors (GM) had increased its earnings guidance twice in 2023 but later withdrew it in Q3 due to labor issues.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 11:36 am

GB

Global Blue Group announced that Tencent has agreed to invest $100M in the company's common equity, acquiring a 7.6% stake. The investment is split evenly between primary and secondary equity.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 11:28 am

TSLA

Hota Industrial Mfg. Co, a Taiwanese supplier for Tesla Inc. (NASDAQ:TSLA), is establishing its first U.S. factory in New Mexico to reduce shipping costs and mitigate cross-strait tensions. The $99 million investment aims to enhance supply chain security and proximity to North American customers, which make up 70% of Hota's sales. The New Mexico government is supporting the project with $3 million and potential tax credits. Hota expects to benefit from the U.S. Inflation Reduction Act, with production starting in 2025.

Portfolio Pulse from Benzinga Neuro

November 29, 2023 | 9:57 am

ASND

Ascendis Pharma A/S has signed an exclusive license agreement with Teijin Limited, granting Teijin the rights to develop and commercialize Ascendis's endocrinology rare disease drugs in Japan. The deal is worth $70 million upfront, with the potential for up to $175 million in milestone payments, plus royalties on sales.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 9:35 am

BABA

PDD

Jack Ma, co-founder of Alibaba Group Holding Ltd. (NYSE:BABA), has called for strategic changes within the company in an internal memo, while praising the strategic moves of rival PDD Holdings Inc (NASDAQ:PDD). Ma, who stepped back from Alibaba in 2020, has re-engaged with the company's direction amidst its challenges, including a slower economic recovery, rising competition, and internal organizational changes. Alibaba's shares in Hong Kong responded to Ma's comments with reduced losses, following PDD's announcement of strong Q3 FY23 revenue growth and earnings that exceeded expectations. Analysts have expressed concerns over Alibaba's performance, with Morgan Stanley removing the stock as a top pick after its Q2 results.

Portfolio Pulse from Benzinga Neuro

November 29, 2023 | 9:21 am