Streetbeat News

Acquisitions Mergers

GLTO

Galecto Inc (NASDAQ:GLTO) shares fell 27% to $8.50 after issuing shares to acquire rights to BRM-1420 from Bridge Medicines. The acquisition aligns with Galecto's strategic shift towards cancer and liver disease treatments. The transaction involves issuing common and preferred shares, with Bridge Medicines' CEO joining Galecto's executive team.

Portfolio Pulse from Henry Khederian

October 07, 2024 | 3:23 pm

LLY

NVO

Rivus Pharmaceuticals, an obesity drugmaker, is considering an IPO potentially raising over $250 million. This move could impact the competitive landscape for existing obesity drug companies like Eli Lilly (LLY) and Novo Nordisk (NVO).

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 3:14 pm

MVPA

OCTA

TTE

TotalEnergies SE (NYSE:TTE) has acquired a 50% stake in two offshore wind projects in the North Sea from RWE AG, enhancing its renewable energy portfolio. The projects, with a combined capacity of 4 GW, will complement TotalEnergies' existing assets and are expected to be operational by 2031-2032. This move aligns with TotalEnergies' strategy to invest in low-carbon energies.

Portfolio Pulse from Lekha Gupta

October 07, 2024 | 3:11 pm

TWLO

Twilio shares are experiencing an uptick due to rumors of increased executive payouts, which may suggest potential takeover interest in the company.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 2:58 pm

TWLO

Twilio is reportedly attracting takeover interest, as suggested by increased executive payouts related to a change in control. This has sparked M&A speculation among traders.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 2:42 pm

AMZN

CVX

NFLX

NVDA

TSLA

Nvidia's GPU sales may be at risk as China promotes local AI chips in retaliation, potentially impacting Nvidia's market share. Meanwhile, Tesla, Amazon, and Netflix see gains, boosting investor optimism. Chevron sells $6.5B in assets to Canadian Natural Resources.

Portfolio Pulse from Akanksha Bakshi

October 07, 2024 | 2:39 pm

PFE

SPY

Starboard Value has taken a $1 billion stake in Pfizer, indicating confidence in the company's future prospects. Meanwhile, the 10-year Treasury yield has risen, and the Supreme Court session has begun.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 2:25 pm

MYTE

MYT Netherlands shares rose following the announcement of its acquisition of YOOX NET-A-PORTER for €555 million.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 2:18 pm

EQNR

KEAT

Equinor ASA has acquired a 9.8% stake in Ørsted A/S for $2.5 billion, making it the second-largest shareholder. This strategic investment aligns with Equinor's renewable energy growth plans, despite current challenges in the offshore wind industry. Equinor's shares fell 3.52% following the announcement.

Portfolio Pulse from Lekha Gupta

October 07, 2024 | 2:15 pm

ALTM

NAPA

PFE

SRRK

VSTO

On Monday, several US-listed stocks saw significant gains despite a general market downturn. Pfizer's shares rose 4% after Starboard Value acquired a $1 billion stake. Scholar Rock Holding Corp's shares surged 291% following positive clinical trial results. Duckhorn Portfolio's shares climbed 101.3% after reporting strong financial results and announcing an acquisition by Butterfly Equity. Arcadium Lithium gained 40.1% after a potential acquisition approach by Rio Tinto. Vista Outdoor's shares increased 9.8% following a definitive agreement to sell Revelyst.

Portfolio Pulse from Avi Kapoor

October 07, 2024 | 2:08 pm