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Acquisitions Mergers

AL

BA

Air Lease Corporation (ALC) has placed 18 new Boeing 737-8 aircraft on lease with EGYPTAIR, with deliveries scheduled from 2025 to 2026. This marks the first transaction between ALC and the Egyptian flag carrier, as well as the first time EGYPTAIR will add the 737-8 model to its fleet. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 11:35 am

SY

So-Young's subsidiary, Wuhan Miracle, has submitted application documents for an IPO on the Beijing Stock Exchange in China. This move could indicate an expansion and growth phase for Wuhan Miracle, potentially impacting So-Young's financials and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 11:33 am

UUUU

Energy Fuels Inc. has sold the remaining unpaid balance of $20M owed under a secured convertible note to MMCAP International. This note was issued by enCore Energy as partial consideration for the purchase of the Alta Mesa in-situ recovery project from Energy Fuels.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 11:19 am

AUDC

CART

HSIC

HUT

ICL

MVST

PLUG

VERV

In Monday's pre-market session, U.S. stock futures were mostly lower, with Nasdaq futures down about 50 points. Verve Therapeutics (VERV) shares dropped after announcing first human proof-of-concept data for VERVE-101, despite a narrower Q3 loss. Plug Power (PLUG) tumbled following poor Q3 results and a going concern warning. Instacart (CART) declined after a previous gain, despite increased Q3 revenue. Henry Schein (HSIC) fell post Q3 results. ICL Group (ICL) dropped even with better-than-expected earnings. Hut 8 Mining (HUT) saw a decline amidst merger progress with US Bitcoin Corp. Microvast Holdings (MVST) decreased despite beating revenue estimates. AudioCodes (AUDC) also fell in pre-market trading.

Portfolio Pulse from Lisa Levin

November 13, 2023 | 11:12 am

INGR

Ingredion has signed a definitive agreement to sell its South Korean business to an affiliate of Sajo Group. The terms of the deal were not disclosed. The expected closure of the transaction is in the first quarter of 2024, pending regulatory approvals and other customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 11:11 am

BAM

Brookfield Asset Management has expanded its presence in Germany by opening a new office in Frankfurt. Over the past two years, Brookfield has invested more than €10 billion of equity in Germany, including a partnership with Deutsche Telekom on the €10.7 billion GD Towers transaction, the acquisition of Sunovis, a German solar developer, and an investment in alstria REIT.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:06 am

BA

Dubai-based airline flydubai has committed to purchasing 30 Boeing 787-9 Dreamliners, with the order valued at $11 billion. This move signifies the airline's strategy to diversify its fleet by introducing wide-body aircraft.

Portfolio Pulse from Charles Gross

November 13, 2023 | 9:59 am

BA

SunExpress, a joint venture between Turkish Airlines and Lufthansa, has committed to purchasing up to 90 Boeing 737 MAX jets, including 28 737-8 and 17 737-10 models, with an option for up to 45 more. This deal, announced at the Dubai Airshow, is set to more than double SunExpress's fleet and support its growth strategy.

Portfolio Pulse from Charles Gross

November 13, 2023 | 9:42 am

LILM

ArcosJet DMCC has purchased 10 all-electric eVTOL jets from Lilium N.V. (NASDAQ:LILM), with deliveries expected in 2026 and 2027. This follows ArcosJet's appointment as an exclusive dealer for the Lilium Jet in the Middle East. The Lilium Pioneer Edition Jet features a spacious 4-seat cabin, low-noise, high-speed travel with zero operating emissions, and comes with maintenance, pilot training, and charging stations.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:19 am

ARKK

GOOGL

QQQ

Cathie Wood criticized index-based investing, using Alphabet Inc. as an example, highlighting the risk it faces from large-language models (LLMs) like GPT4 that could disrupt Google's search business. She argues that passive funds are shorting disruptive innovation and that the massive shift towards passive funds is a misallocation of capital. Despite these concerns, the Invesco QQQ Trust, a passive fund, has outperformed Ark's actively managed Ark Innovation ETF this year.

Portfolio Pulse from Shanthi Rexaline

November 13, 2023 | 7:42 am