Streetbeat News

Acquisitions Mergers

DUET

Fenix 360 Pte Ltd, a private company, has announced it will go public through a merger with DUET Acquisition Corp., a Special Purpose Acquisition Company (SPAC). The transaction values Fenix 360 at an enterprise value of $610 million.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 10:28 pm

WOR

Worthington Industries Inc. (NYSE:WOR) is spinning off Worthington Steel, which will be added to the S&P SmallCap 600 on December 1, replacing Sleep Number. After the spin-off, Worthington Industries will remain in the index under the new name Worthington Enterprises Inc.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 10:21 pm

EIS

IZRL

Israel and Hamas have extended their ceasefire for an additional 48 hours following a successful hostage-for-prisoner exchange. The US has sent humanitarian aid to Egypt to support Gaza, with more flights expected. Elon Musk was invited by a senior Hamas official to visit Gaza. Israeli Prime Minister Netanyahu reiterated Israel's commitment to security, while US Secretary of State Blinken discussed the situation with NATO members, also expressing support for Ukraine. Israeli stocks, including the iShares MSCI Israel ETF (EIS) and ARK Israel Innovative Technology ETF (IZRL), saw gains on Tuesday.

Portfolio Pulse from Piero Cingari

November 28, 2023 | 10:12 pm

SOLO

ElectraMeccanica has announced the resolution of its litigation with Tevva Motors, although the terms of the settlement have not been disclosed. The company also stated that it is well-capitalized and is looking into strategic third-party opportunities and potential options for its business.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:56 pm

AIMAU

Aimfinity Investment Corp. I has extended the deadline to complete an initial business combination to December 28, 2023. The company has deposited an additional $85,000 into its trust account. Starting from July 28, 2023, Aimfinity may further extend the deadline on a monthly basis up to April 28, 2024.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:40 pm

BRK-A

BRK-B

COST

DJCO

Charles Munger, vice chairman of Berkshire Hathaway and chairman of the Daily Journal Corporation, has passed away at 99. Munger, known for his investment philosophy and partnership with Warren Buffett, also served as a director at Costco Wholesale Corporation. His criticisms of cryptocurrencies, particularly Bitcoin, and his emphasis on ethical business practices were notable aspects of his legacy.

Portfolio Pulse from Sue Strachan

November 28, 2023 | 9:20 pm

OTEX

Open Text Corporation has entered into a definitive agreement to sell its AMC business to Rocket Software for $2.275 billion in cash. The AMC business specializes in mainframe modernization and connectivity software, serving over 10,000 customers with applications crucial for hybrid cloud environments.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:19 pm

NVDA

NVIDIA Corporation (NASDAQ:NVDA) is expanding its autonomous driving team in China by hiring for twenty-four positions across Beijing, Shanghai, and Shenzhen. The recruitment aims to design and deploy AI systems for automation and autonomous vehicles, led by Xinzhou Wu, an expert in the Chinese AV market. Despite U.S. export controls on AI GPUs, Nvidia's automotive products remain unaffected. NVDA shares were down 1.21% at $476.61 at the time of publication.

Portfolio Pulse from Ryan Gustafson

November 28, 2023 | 8:43 pm

MBTC

Nocturne Acquisition Corporation has announced its intention to extend the deadline for completing its initial business combination by one month to January 5, 2024, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 8:33 pm

ACN

Accenture (NYSE:ACN) has acquired Ocelot Consulting, a cloud consultancy firm, to enhance its data engineering and Cloud First capabilities in North America. Ocelot Consulting brings expertise in full-stack development, data engineering, data science, and cloud modernization, particularly with AWS. The acquisition aims to accelerate cloud transformation for clients in various industries such as utilities, financial services, agriculture, and consumer goods. The financial terms were not disclosed. Ocelot's team of approximately 100 technologists will join the Accenture AWS Business Group, which is part of Accenture Cloud First.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 8:12 pm