Streetbeat News

Acquisitions Mergers

PFE

Activist investor Starboard Value has invested $1 billion in Pfizer amid declining demand for COVID-19 treatments. This move aims to revitalize Pfizer's performance, which has been stagnant compared to the S&P 500. Starboard has engaged former Pfizer executives to assist in this effort.

Portfolio Pulse from Benzinga Neuro

October 07, 2024 | 1:49 am

AAPL

AMZN

MCHI

NVDA

SAVE

Benzinga's recent analysis highlights key bullish and bearish trends for popular stocks. Nvidia's new GPU platform is in high demand, while Apple faces a potential demand correction for its iPhone 16 Pro. Amazon deals with employee dissatisfaction over return-to-office policies, and Spirit Airlines is in bankruptcy talks. Chinese tech stocks, represented by the iShares MSCI China ETF, continue to gain due to domestic stimulus efforts.

Portfolio Pulse from Michael Cohen

October 05, 2024 | 1:30 pm

SGRP

Apollo Capital raises concerns over Highwire Capital's proposed take-private of SPAR Group, citing financing uncertainties, limited obligations, and lack of cash balance disclosure. Apollo's CEO plans to vote against the transaction, urging SPAR's board for full disclosure.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 8:31 pm

RIO

Arcadium Lithium shares surged following Rio Tinto's announcement of acquisition talks, valuing Arcadium between $4 to $6 billion or more.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 8:18 pm

CBSTF

CRLBF

VRNOF

FiSai US Management, a major creditor of The Cannabist Company, has publicly expressed concerns over the company's management and financial strategy. FiSai holds $50 million in secured notes and is worried about The Cannabist's liquidity issues and debt burden, which includes $60 million due by 2025 and $185 million by 2026. The lender criticized the company's 'pray and hope' approach and its recent asset sale to Verano, as well as a failed merger with Cresco.

Portfolio Pulse from Rolando García

October 04, 2024 | 8:13 pm

RIO

Rio Tinto is in discussions to acquire Arcadium Lithium, with the deal potentially valuing Arcadium between $4 billion and $6 billion or more, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 8:12 pm

APD

Activist investor Mantle Ridge has acquired a stake worth over $1 billion in Air Products and plans to push for strategic improvements at the industrial gas manufacturer.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 8:10 pm

PBM

Psyence Biomed (NASDAQ:PBM) has decided not to proceed with the acquisition of Clairvoyant Therapeutics. The company is focusing on its Phase IIb clinical trial for psilocybin-based treatment in palliative care, with results expected in the second half of 2025.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 8:07 pm

DIS

PARA

PARAA

Paramount Global (NASDAQ:PARA) could benefit from acquiring additional NFL content through its merger with Skydance Media. Talks with the NFL include potential acquisitions of NFL Media and Skydance Sports. ESPN's discussions with the NFL have stalled, potentially favoring Paramount.

Portfolio Pulse from Chris Katje

October 04, 2024 | 6:25 pm

AAL

DAL

JBLU

LTM

SAVE

UAL

Spirit Airlines is considering bankruptcy after a failed merger with JetBlue, which was blocked by U.S. antitrust regulators. The airline faces financial struggles due to engine issues and intense competition. The stock has dropped significantly, losing over 85% of its value in 2024.

Portfolio Pulse from Anthony Noto

October 04, 2024 | 5:09 pm