Streetbeat News

Acquisitions Mergers

SQM

ADIONICS, a cleantech company specializing in eco-friendly lithium extraction, has raised $27 million in Series B funding. The round saw participation from historical stakeholders and new strategic investor SQM, a leader in lithium production. The funding is also backed by Bpifrance, Supernova Invest, Céleste Management, and Ovive, with the French state's support via the France 2030 program.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 7:29 am

ACN

Accenture (NYSE:ACN) is set to acquire Rabbit's Tale, a Bangkok-based agency, to enhance its creative and digital customer experience capabilities in Southeast Asia. This acquisition will bolster Accenture Song's regional services in creative, brand, and data, aiding clients in Thailand to optimize digital experiences for growth.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 7:24 am

WNNR

Zapata AI has entered into a definitive business combination agreement with Andretti Acquisition Corp. (NYSE:WNNR). Upon meeting customary closing conditions, Zapata AI will become a publicly listed company on the NYSE.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 7:20 am

AAPL

DIS

IBM

WBD

The Washington Post has joined Apple Inc. and Walt Disney Co. in pulling ads from X, a platform associated with Elon Musk, due to his endorsement of a debunked anti-Semitic conspiracy theory. This could result in a revenue loss of over $75 million for X. Other companies like Warner Bros. Discovery and IBM have also withdrawn their ads. Despite the controversy, Musk remains committed to his principles. X is facing a defamation lawsuit from Media Matters over allegations of ads being displayed next to pro-Nazi content.

Portfolio Pulse from Rounak Jain

November 29, 2023 | 7:11 am

SQ

Block Inc. CEO Jack Dorsey led a $6.2M seed funding round for Mummolin, Inc., a company focused on decentralizing Bitcoin mining with its OCEAN initiative. OCEAN aims to address centralization concerns in Bitcoin mining pools by offering a transparent, non-custodial platform that allows miners to receive block rewards directly. The investment round included other participants such as Accomplice and NewLayer Capital. OCEAN's development will continue with further decentralization enhancements planned for 2024.

Portfolio Pulse from Benzinga Neuro

November 29, 2023 | 4:58 am

LVS

Mark Cuban is reportedly selling a majority stake in the Dallas Mavericks to Miriam Adelson and her family. Adelson is divesting $2 billion worth of her Las Vegas Sands Corp. (LVS) shares to fund the purchase. Cuban will retain some ownership and manage basketball operations. The sale follows Cuban's announcement of his departure from 'Shark Tank' after the next season.

Portfolio Pulse from Benzinga Neuro

November 29, 2023 | 4:07 am

GM

General Motors Co (GM) is reportedly reducing funding for its self-driving unit, Cruise, following a pedestrian injury incident. This decision may impact GM's long-term revenue targets, which include income from self-driving technology. Cruise has faced safety concerns and regulatory challenges, leading to a suspension of operations. Despite a recent EBIT-adjusted loss, Cruise plans to relaunch operations in one city to rebuild trust and scale up gradually.

Portfolio Pulse from Anan Ashraf

November 29, 2023 | 3:33 am

AAPL

GS

Apple Inc. (AAPL) plans to end its credit card partnership with Goldman Sachs Group (GS) within 12 to 15 months, as reported by the Wall Street Journal. The decision follows nearly four years of collaboration since 2019. Apple has recently launched a high-yield savings account and a 'buy now, pay later' service, while Goldman Sachs has been reevaluating its consumer lending strategy, including a potential sale of its General Motors credit card program.

Portfolio Pulse from Ananya Gairola

November 29, 2023 | 2:48 am

MSFT

OpenAI may not offer board seats to Microsoft Corporation (NASDAQ:MSFT) and other investors such as Khosla Ventures and Thrive Capital. This follows the recent firing of OpenAI co-founder and CEO Sam Altman. Microsoft, having invested over $10 billion in OpenAI, is a significant supporter. The new OpenAI board is expected to confirm Bret Taylor, Larry Summers, and Adam D’Angelo as directors. Microsoft's response to the situation is to await official communication from the board.

Portfolio Pulse from Ananya Gairola

November 29, 2023 | 2:11 am

AAPL

BRK

Charles 'Charlie' Munger, Warren Buffett's partner at Berkshire Hathaway, has passed away at 99. Buffett praised Munger's role in building Berkshire Hathaway. Munger was vice chairman and a major shareholder, with holdings worth $2.1 billion. Under their leadership, Berkshire Hathaway outperformed the S&P 500 with an average annual gain of 20.1% from 1965 to 2021. Munger's investment strategies, including the 'Lollapalooza effect' and focus on great companies at decent prices, were highlighted, with Apple Inc. being a notable investment. The investment community mourns his loss, recognizing his contributions to finance and investing.

Portfolio Pulse from Piero Cingari

November 28, 2023 | 10:58 pm