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Acquisitions Mergers

GLCNF

LICY

Glencore PLC plans to build a pilot EV battery recycling plant outside Italy and is considering Sardinia for a larger facility. The move aims for faster project commissioning and aligns with expected EU regulations on critical raw materials. Glencore's Sardinian unit communicated this in a letter to Italy's ministries. The company, in partnership with Li-Cycle Holdings Corp, previously announced a two-phase approach to the Portovesme Hub project. Glencore's copper production fell by 5% Y/Y due to asset sales and lower by-product production. Glencore's stock (GLCNF) closed down 1.83% at $5.64.

Portfolio Pulse from Lekha Gupta

November 24, 2023 | 12:34 pm

ICLK

IClick Interactive Asia Group has entered into a definitive merger agreement with TSH Investment Holding and TSH Merger Sub for a going-private transaction. The deal is expected to close in the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 12:20 pm

VIOT

Viomi Technology Co., Ltd (NASDAQ:VIOT) has upgraded its water purification business to a strategic business unit, emphasizing the company's focus on this area and its R&D strengths. The company reported a 1.7% revenue increase in its Home water solutions unit to $39.5 million for the first half of the year. Viomi appointed Qi Chen, a former general manager at A.O.Smith (China) Water Heater Co., as president of the new strategic business unit. Viomi's cash and equivalents stood at $95.4 million as of June 30, 2023. VIOT shares dropped 3.88% to $0.9228 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

November 24, 2023 | 12:17 pm

EIGR

Moshe Arkin has reported a 10.09% stake in Eiger Biopharmaceuticals and sent a letter to the board suggesting that the company should file a New Drug Application (NDA) for Lonafarnib, a potential treatment in their pipeline.

Portfolio Pulse from Charles Gross

November 24, 2023 | 11:16 am

AMZN

BITF

FSR

GRPN

HSAI

IRBT

SAVE

SHLS

XPEV

iRobot Corporation (NASDAQ:IRBT) shares surged in pre-market trading on news that Amazon.com Inc.'s (NASDAQ:AMZN) proposed $1.4 billion acquisition of iRobot is close to receiving unconditional approval from EU antitrust authorities. Other stocks such as Fisker Inc. (NYSE:FSR), Shoals Technologies Group, Inc. (NASDAQ:SHLS), Bitfarms Ltd. (NASDAQ:BITF), XPeng Inc. (NYSE:XPEV), Hesai Group (NASDAQ:HSAI), Groupon, Inc. (NASDAQ:GRPN), and Spirit Airlines, Inc. (NYSE:SAVE) also saw gains in pre-market trading.

Portfolio Pulse from Lisa Levin

November 24, 2023 | 11:15 am

STLA

Stellantis N.V. (NYSE:STLA) has launched its SUSTAINera Circular Economy Hub at the Mirafiori Complex in Turin, Italy, as part of its strategy to achieve net-zero carbon emissions by 2038. The hub will focus on extending the life of automotive parts and vehicles through the 4R strategy (Reman, Repair, Reuse, Recycle). With an investment of €40 million, the hub currently employs 170 people, with plans to increase to 550 by 2025. This initiative underscores Stellantis's commitment to sustainable practices in the automotive industry.

Portfolio Pulse from Benzinga Neuro

November 24, 2023 | 8:38 am

TSLA

Tesla Inc. (NASDAQ:TSLA) is considering a $2 billion investment in an Indian factory, conditional on a reduced import duty of 15% for its electric vehicles (EVs) for the first two years. The investment amount is linked to the number of vehicles Tesla is allowed to import at this rate. The Indian government is deliberating on allowing a lower number of vehicles than Tesla's request, with a potential limit of 10% of total EVs sold in India this fiscal year. Tesla's proposal includes a commitment to localize 20% of car value within two years, which is under review by Indian authorities. Tesla plans to introduce three models in India and increase auto parts sourcing from the country.

Portfolio Pulse from Shomik Sen Bhattacharjee

November 24, 2023 | 6:43 am

AMZN

IRBT

Amazon.com Inc.'s (NASDAQ:AMZN) proposed $1.4 billion acquisition of iRobot Corp. (NASDAQ:IRBT) is expected to receive unconditional approval from EU antitrust authorities, according to a Reuters report citing sources familiar with the matter. The EU Commission's decision is due on Feb. 14, following the U.K. antitrust agency's earlier unconditional approval. Concerns about reduced competition and increased dominance by Amazon were initially raised, but the deal is likely to proceed without conditions.

Portfolio Pulse from Benzinga Neuro

November 24, 2023 | 2:34 am

FFIE

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) has announced its expansion into the Middle East market through strategic cooperation agreements with Master Investment Group and Siraj Holding LLC. The company also unveiled the FF 91 2.0 Futurist aiFalcon Limited Edition, specifically designed for the Middle East market, featuring exclusive colors and wheel designs. FFIE plans to begin operations in the region in 2024 and will showcase its North American model at the Abu Dhabi Yas Marina Circuit during the Formula 1 Abu Dhabi Grand Prix Weekend starting November 24.

Portfolio Pulse from Charles Gross

November 23, 2023 | 8:34 pm

DOGE-USD

NFLX

Netflix Inc. (NASDAQ:NFLX) invested $55 million in a sci-fi series 'Conquest' by filmmaker Carl Erik Rinsch, who is accused of misappropriating at least $11 million for personal trading and purchases. Rinsch gambled away $5.9 million in stocks and made $27 million from Dogecoin (CRYPTO: DOGE), later spending on luxury items. Netflix and Rinsch are engaged in a confidential arbitration, with Rinsch claiming a breach of contract and Netflix denying the claims. The project remains unfinished, and Netflix has ceased funding.

Portfolio Pulse from Ananya Gairola

November 23, 2023 | 6:22 am