Streetbeat News

Acquisitions Mergers

LIXT

LIXTE Biotechnology Holdings, Inc. (LIXT) has reported progress in the development of its cancer therapy LB-100, with collaborations at various prestigious institutions and pharmaceutical companies. These include a Phase 1b/2 trial with GSK and MD Anderson, a trial with the Spanish Sarcoma Group, and an expanded collaboration with the Netherlands Cancer Institute and Oncode Institute. Bas van der Baan was appointed as President and CEO, and Chairman of the Board after the founder's passing. LIXTE also completed a funding round raising approximately $3.5 million in gross proceeds.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:51 pm

HYMTF

Hyundai Motor Co has initiated the construction of a new $1.53 billion electric vehicle (EV) plant in Ulsan, South Korea. The facility is expected to produce 200,000 EVs annually, with full-scale construction starting in Q4 2023 and mass production commencing in Q1 2026. The first model to be produced is anticipated to be a Genesis electric SUV. Hyundai recently reported an 8.7% revenue growth in Q3 FY23 and a 33.3% increase in sales of electrified models.

Portfolio Pulse from Lekha Gupta

November 13, 2023 | 1:50 pm

FOXF

FSR

MPX

VAC

XPEL

The article lists the top 5 oversold consumer discretionary stocks with an RSI near or below 30, indicating potential undervaluation. Fisker Inc. (FSR) is set to report earnings with a recent gain in stock price. Fox Factory Holding Corp. (FOXF) reported disappointing financial results but acquired Marucci Sports. Marine Products Corporation (MPX) had weaker Q3 results due to post-COVID demand normalization and hurricane impact. XPEL, Inc. (XPEL) reported lower earnings but sees strong demand. Marriott Vacations Worldwide Corporation (VAC) experienced a drop in net income but expects recovery with Maui reopening.

Portfolio Pulse from Lisa Levin

November 13, 2023 | 1:46 pm

SELB

Selecta Biosciences has completed a merger with Cartesian Therapeutics and has been renamed Cartesian Therapeutics, Inc. Alongside the merger, the company announced a private financing of $60.25 million. The company's Nasdaq ticker symbol will change from SELB to RNAC effective prior to the opening of trading on November 14, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:34 pm

LGVC

LGVCU

LGVCW

LAMF Global Ventures Corp. I has announced the extension of the deadline to complete its initial business combination from November 16, 2023, to December 16, 2023. This is the first of potentially six one-month extensions allowed under the company's amended and restated memorandum and articles of association.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:27 pm

FWRD

Forward Air Corporation (FWRD) has filed an answer and counterclaim against Omni Newco LLC in the Delaware Court of Chancery. The counterclaim seeks a declaratory judgment stating that Forward Air is not obligated to complete the acquisition as previously agreed upon. This legal action follows a complaint by Omni alleging that Forward Air breached its obligation to close the transactions under the Merger Agreement. Forward Air plans to make a public version of its response and counterclaim available by November 17, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:10 pm

COHN

Cohen & Company, a top U.S. tax and accounting firm, is expanding into Western New York by acquiring Szymkowiak & Associates CPAs and PEAR Consultants. The transaction, which will bring in approximately 25 additional team members and maintain current local leadership, is expected to close in December 2023. This move aligns with Cohen & Company's strategic growth plan and follows a previous expansion to Philadelphia earlier in the year.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:09 pm

WINV

WinVest Acquisition Corp. (WINV) has announced an extension of its termination date to December 17, 2023. Additionally, the company will make an extra contribution to its trust account to facilitate this extension. This move provides WinVest more time to complete a successful merger or acquisition.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 12:46 pm

PHYT

Sio Silica Corporation is set to go public through a business combination with Pyrophyte Acquisition Corp. The terms of the deal imply an enterprise value of $708 million and an equity value of $758 million for the combined entity.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 12:45 pm

TTI

XOM

Exxon Mobil Corp (XOM) plans to start lithium production in Arkansas by 2026, aiming to produce at least 10,000 metric tons annually in partnership with Tetra Technologies Inc (TTI). This move into the electric vehicle (EV) battery metal sector involves filtering lithium from brine deposits. XOM has also secured over 6,100 lithium-rich acres in Arkansas with TTI and plans additional production from another 100,000 acres by 2027. XOM's Q3 FY23 adjusted net profit was $9.12 billion, down from the previous year. XOM shares saw a slight premarket increase.

Portfolio Pulse from Lekha Gupta

November 13, 2023 | 11:41 am