Streetbeat News

Acquisitions Mergers

SNDL

SNDL Inc. and Nova Cannabis Inc. have mutually decided to terminate their strategic partnership agreement from December 2022. Despite this, they continue their collaboration under an existing management and services agreement. SNDL has extended the maturity date of Nova's credit facility to March 2024 and remains committed to supporting Nova's growth. The distribution of Nova shares to SNDL shareholders is now canceled. SNDL's stock saw a slight increase in pre-market trading.

Portfolio Pulse from Jelena Martinovic

November 20, 2023 | 2:12 pm

EMR

Emerson (NYSE:EMR) has made a strategic investment in Frugal Technologies, a Danish company specializing in fuel optimization for shipping fleets. Frugal's AI-driven software aims to reduce fuel consumption by up to 15%, aligning with Emerson's expertise in marine systems. This collaboration addresses the need for better fuel management and compliance with stricter emissions targets set by the International Maritime Organization.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:06 pm

JNVR

Janover Inc (NASDAQ:JNVR), a B2B fintech marketplace, has acquired Groundbreaker Technologies, a SaaS platform for commercial property professionals. This acquisition is expected to convert 15% of Janover's revenue to SaaS subscription revenue and is part of a longer-term strategy to enhance revenue quality by transitioning to predictable, recurring subscription revenue. The acquisition complements Janover's loan marketplace with an equity funding platform. JNVR shares traded higher by 1.62% at $0.91 in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 2:02 pm

JNVR

Janover LLC has acquired Groundbreaker, a profitable SaaS platform, aiming to create a comprehensive marketplace for commercial real estate. This strategic move is expected to enhance Janover's offerings and market position.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:01 pm

CDIO

CUEN

NEPT

Cuentas (CUEN) reported a significant increase in revenue, with an 861% surge compared to the previous quarter and a 200% year-over-year growth in cash position. Cardio Diagnostics Holdings (CDIO) announced a major advancement in coronary heart disease detection with its PrecisionCHD test, now published in a reputable medical journal. Neptune Wellness (NEPT) disclosed a letter of intent to acquire Datasys, a data-marketing and AI company, for up to $112 million.

Portfolio Pulse from ryanfaloona@benzinga.com

November 20, 2023 | 1:50 pm

LVO

PODC

PodcastOne, a subsidiary of LiveOne, has acquired exclusive sales and distribution rights to the true crime podcast 'The Consult: The Real FBI Profilers' hosted by retired FBI profiler Julia Cowley. The podcast is produced by CrimeCon's Creator of the Year Award winners Alice LaCour and Brett Talley. 'The Consult' adds to PodcastOne's diverse content portfolio, which includes a variety of genres such as news, comedy, and true crime. The acquisition is expected to enhance PodcastOne's offerings to listeners and advertisers.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:48 pm

ACM

IR

TDG

TGH

Four industrial stocks with high RSI values, indicating potential overbought conditions, may face a downturn in Q4. TransDigm Group (TDG) acquired a business for $1.385 billion and reported strong Q4 results. Ingersoll Rand (IR) raised full-year guidance despite lower sales. Textainer Group (TGH) showed resilience in Q3 results despite weak earnings. AECOM (ACM) exceeded earnings guidance and provided strong FY24 EPS guidance. All stocks are near their 52-week highs.

Portfolio Pulse from Lisa Levin

November 20, 2023 | 1:43 pm

BAK

Braskem (NYSE:BAK) has been awarded a $671,000 grant from the REMADE Institute, funded by the U.S. Department of Energy, for its polymer recycling technology research partnership. The project, in collaboration with the University of Massachusetts Lowell, Dow Chemical, and Aquapak, aims to develop advanced manufacturing technology for sustainable and recyclable multilayer plastic films. Braskem's goal is to include 300,000 tons of recycled content in its products by 2025 and 1 million tons by 2030, while also reducing greenhouse gas emissions. The REMADE Institute has funded nearly 100 R&D projects since 2017, focusing on reducing energy and emissions in industrial materials production.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:16 pm

HSCS

HeartSciences has closed license agreements with the Icahn School of Medicine at Mount Sinai to develop and commercialize AI-powered ECG algorithms. This partnership makes Icahn Mount Sinai a shareholder in HeartSciences. The company aims to transform cardiovascular disease detection using AI-ECG algorithms, leveraging a cloud-based platform compatible with existing ECG devices. The technology was developed by Icahn Mount Sinai faculty, who have a financial interest in HeartSciences.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:06 pm

TCON

TRACON Pharmaceuticals has licensed its product development platform for an upfront payment of $3 million. This deal could potentially impact the company's financials and future development capabilities.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:03 pm