Streetbeat News

Acquisitions Mergers

BIOC

CNXA

RVLP

SFT

TALS

Several stocks are experiencing significant pre-market movements. Biocept, Inc. (BIOC) surged 91.8% after filing for Chapter 7 bankruptcy. Shift Technologies, Inc. (SFT) rose 74.4% after announcing plans to file for Chapter 11 bankruptcy. Connexa Sports Technologies Inc. (CNXA) gained 45% and RVL Pharmaceuticals plc (RVLP) climbed 41.2% after receiving a delisting notice. Talaris Therapeutics, Inc. (TALS) jumped 8.2% after announcing stockholder approval of a merger with Tourmaline Bio and a 1-for-10 reverse stock split.

Portfolio Pulse from Lisa Levin

October 18, 2023 | 12:19 pm

JBL

MTC

PANW

SPLK

The article lists four tech stocks that are considered overbought and may crash in October. These include Jabil Inc. (JBL), Palo Alto Networks, Inc. (PANW), Splunk Inc. (SPLK), and MMTec, Inc. (MTC). The Relative Strength Index (RSI) values for these stocks are above 70, indicating they are overbought. Cisco (CSCO) is also mentioned as it plans to acquire Splunk.

Portfolio Pulse from Lisa Levin

October 18, 2023 | 12:13 pm

BXRX

Baudax Bio has announced that it is ready to initiate the clinical development of TI-168 following the recent approval of corporate actions related to the acquisition of TeraImmune by its shareholders.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 12:12 pm

TPET

Trio Petroleum Corp has announced the acquisition of a 22% interest in the McCool Ranch Oil Field. This move is expected to increase the company's oil reserves and production capabilities.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 12:10 pm

AVGO

VMW

Broadcom (AVGO) and VMware (VMW) have announced an election deadline of October 23, 2023, for VMware stockholders to elect merger consideration. The transaction is expected to close on October 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 12:07 pm

LGND

OVID

Ovid Therapeutics Inc. (OVID) and Ligand Pharmaceuticals Incorporated (LGND) have announced a deal in which Ligand acquires a 13% portion of the royalties and milestones related to the potential approval and commercialization of soticlestat. Ovid will receive a $30 million payment in return, extending its cash runway into 2026.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 12:04 pm

NIO

Chinese electric vehicle (EV) manufacturer NIO Inc. is reportedly considering the establishment of a dealer network in Europe to boost sales growth. The move is part of NIO's strategy to mitigate potential tariffs on Chinese EVs in the region. The company is also planning to introduce a more budget-friendly EV brand, 'Firefly', in Europe by 2025. NIO's decision to use dealers is aimed at easing cash pressure as it prioritizes expenditure on research and battery swapping stations in China.

Portfolio Pulse from Nabaparna Bhattacharya

October 18, 2023 | 10:59 am

WBX

Wallbox's unit, Pulsar Chargers GMBH, has entered into an agreement to acquire a majority of the operating assets of ABL GMBH.

Portfolio Pulse from Charles Gross

October 18, 2023 | 10:36 am

FRLN

Syncona has proposed to acquire all remaining shares of Freeline Therapeutics that it does not already own for $5.00 per ADS.

Portfolio Pulse from Charles Gross

October 18, 2023 | 10:15 am

GEHI

Gravitas Education has extended the closing date of its merger with Bright Sunlight Limited, Best Assistant Education Online Limited, and a subsidiary of NetDragon Websoft Holdings Limited to January 18, 2024. The merger will result in Best Assistant transferring NetDragon's education business outside of the PRC to Elmtree Inc, which will then merge with a subsidiary and become a wholly owned subsidiary of Gravitas Education.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 9:28 am