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Acquisitions Mergers

MSFT

OpenAI's board approached Anthropic's CEO Dario Amodei for a potential merger and to replace fired CEO Sam Altman. Amodei declined the CEO offer due to his commitment to Anthropic, which competes with OpenAI with its chatbot Claude. No serious merger discussions have been reported.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:41 am

ARKK

Cannabis ETFs in Europe are shutting down, with Rize Medical Cannabis and Life Sciences UCITS ETF (FLWR) set to close on Dec. 12th after being acquired by Cathie Wood's ARK Innovation ETF (ARKK) in September. The closure is deemed in the best interest of investors. Another ETF, Medical Cannabis and Wellness UCITS ETF (CBDZ), is merging into HAN-GINS Indxx Healthcare Megatrend Equal-Weight UCITS ETF (WELL). In the Czech Republic, a draft bill proposes strict rules on CBD and kratom products. In the UK, MPs are urged to improve access to medical marijuana through the NHS. Ireland is progressing a bill to legalize weed for personal use, and Germany has postponed the final reading of its cannabis legalization bill.

Portfolio Pulse from Nina Zdinjak

November 20, 2023 | 11:49 pm

EIS

IZRL

President Biden expressed optimism about a potential hostage deal between Israel and Hamas. Israel proposed a 5-day ceasefire in exchange for 50 hostages, but disagreements persist. UN Secretary-General Guterres expressed concern over civilian killings. Houthi rebels seized an Israeli cargo vessel, the Galaxy Leader, owned by Israeli businessman Abraham Ungar. The U.S. State Department demanded its release. Israeli stocks and ETFs, including iShares MSCI Israel ETF (EIS) and ARK Israel Innovative Technology ETF (IZRL), saw gains.

Portfolio Pulse from Piero Cingari

November 20, 2023 | 9:49 pm

WT

WisdomTree, Inc. (NYSE:WT) has completed the repurchase of non-voting preferred shares convertible into 13.1 million shares of common stock from Gold Bullion Holdings, a subsidiary of the World Gold Council, for $84.4 million. The transaction is 7% accretive to 2024 consensus EPS estimates and eliminates potential future overhang on WisdomTree's stock. The repurchase is part of WisdomTree's proactive actions, including a gold royalty buyout in May 2023, which was 15% accretive to earnings. The repurchase agreement terms are detailed in WisdomTree's Current Report on Form 8-K filed with the SEC.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 9:20 pm

MYGN

Myriad Genetics, Inc. (NASDAQ:MYGN) has announced that its SneakPeek Early Gender DNA Test has delivered results to one million consumers. The test, which can determine fetal sex as early as six weeks into pregnancy with 99% accuracy, can be taken at home or in a clinic. Myriad Genetics acquired Gateway Genomics, the developer of SneakPeek, in 2022, enhancing its suite of reproductive health testing solutions. The company also celebrated one million patients screened with its Prequel Noninvasive Prenatal Screen earlier this year.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 9:19 pm

FTI

TechnipFMC plc (NYSE:FTI) has agreed to sell its Measurement Solutions business to One Equity Partners for $205 million in cash. The Measurement Solutions business is part of TechnipFMC's Surface Technologies segment and includes engineering and manufacturing locations in North America and Europe. The sale is in line with TechnipFMC's strategy to focus on core products, technologies, and integrated solutions for clients. The transaction is expected to close in the first half of 2024, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 9:15 pm

HD

Home Depot has entered into a definitive agreement to acquire International Designs Group (IDG), which owns Construction Resources, a distributor of design-oriented surfaces, appliances, and architectural specialty products. The acquisition from Mill Point Capital LLC is expected to close by the end of 2023. No financial terms of the deal were disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 9:12 pm

AMZN

BYDDY

HYMTF

TSLA

WKSP

BYD Company Limited (OTC:BYDDY) is poised to potentially overtake Tesla Inc (NASDAQ:TSLA) as the world's largest EV maker by the end of 2023. Worksport Ltd. (NASDAQ:WKSP) has announced that its COR portable battery system has entered the Test Phase, moving closer to market release. Hyundai Motor Company (OTC:HYMTF) will use a customized version of Worksport's SOLIS and COR for its Santa Cruz pickup. Hyundai has also partnered with Amazon.com Inc (NASDAQ:AMZN) to sell cars on Amazon and will use Amazon Web Services as its cloud provider, with plans to integrate Amazon Alexa into its vehicles by 2025.

Portfolio Pulse from Upwallstreet

November 20, 2023 | 8:20 pm

JCI

Johnson Controls (NYSE:JCI) received a $33M DOE grant to expand U.S. heat pump manufacturing, increasing production by 200% and creating 1,000 jobs. Facilities in Texas, Kansas, and Pennsylvania will produce 200,000 heat pumps annually, reducing CO² emissions by 25 million metric tons per year. The expansion is part of the Defense Production Act to boost clean energy tech and will involve local partnerships for workforce development.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 8:15 pm

BHP

BHP Group (NYSE:BHP) has seen significant options activity, with a bullish sentiment from financial giants. Analysis of 14 unusual trades shows 64% bullish and 35% bearish tendencies. Notable trades include puts and calls with strike prices ranging from $32.5 to $90.0. BHP Group is a global diversified miner, recently acquiring Oz Minerals and entering the potash market. The stock is currently trading at $61.67, with a potential overbought RSI indicator. Earnings are expected in 94 days.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 8:01 pm