Streetbeat News

Acquisitions Mergers

LODE

Comstock has acquired substantially all of the equity in GenMat, including its AI materials discovery platform and related assets. The original investment agreement for $50 million for 50% equity has been terminated. Comstock aims to integrate and commercialize GenMat's assets.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 10:07 am

ALTM

LGMK

PETZ

TRVN

Arcadium Lithium shares surged 27.8% in pre-market trading following a non-binding acquisition approach by Rio Tinto. Other notable pre-market movers include LogicMark, TDH Holdings, and Trevena, with significant gains and losses reported.

Portfolio Pulse from Avi Kapoor

October 07, 2024 | 9:40 am

CNQ

CVX

Canadian Natural Resources is acquiring Chevron Canada's 20% interest in the Athabasca Oil Sands Project and 70% interest in Duvernay Play for $6.5 billion. This acquisition increases Canadian Natural's working interest in AOSP to 90% and adds significant production and reserves.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 9:05 am

EPAM

EPAM Systems has acquired First Derivative to enhance its capabilities in capital markets, banking operations, and asset servicing, aiming to strengthen its global client offerings.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 7:19 am

MYTE

Mytheresa is set to acquire YOOX NET-A-PORTER from Richemont in a €555 million cash deal, issuing a 33% equity stake to Richemont. The transaction, expected to close in H1 2025, will form a global multi-brand luxury group.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 6:42 am

AVNW

EPAM

NAPA

VSTO

ZENA

Several stocks are in focus as U.S. stock futures trade lower. Duckhorn Portfolio is expected to report earnings, Vista Outdoor is selling Revelyst, ZenaTech announced new management appointments, Aviat Networks posted strong earnings, and EPAM Systems plans to acquire First Derivative.

Portfolio Pulse from Avi Kapoor

October 07, 2024 | 6:33 am

VSTO

Vista Outdoor has agreed to sell Revelyst to Strategic Value Partners for $1.125 billion in an all-cash deal. Concurrently, Vista Outdoor has increased the purchase price for acquiring The Kinetic Group to $2.225 billion, contingent on the completion of the SVP transaction.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 6:21 am

ALTM

RIO

Arcadium Lithium has confirmed receiving a non-binding acquisition approach from Rio Tinto. This potential acquisition could impact the lithium market and both companies' stock prices.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 5:51 am

PFE

Activist investor Starboard Value has taken a $1 billion stake in Pfizer, urging the company to make changes to improve its performance. Pfizer's shares have halved since their peak in 2021 due to declining demand for Covid-19 vaccines and treatments.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 5:03 am

ARKK

GOOGL

META

TSLA

Cathie Wood of ARK Invest predicts a trillion-dollar revenue opportunity for Tesla in the autonomous vehicle market, highlighting a 'winner-takes-most' scenario. She also discusses the potential of AI companies like OpenAI, which recently raised $6.6 billion, and the broader AI sector's growth.

Portfolio Pulse from Kaustubh Bagalkote

October 07, 2024 | 4:07 am