Streetbeat News

Acquisitions Mergers

BNOX

PSIL

Steve Cohen, owner of NY Mets, has purchased over 119 million shares of Bionomics Limited (BNOX) through his Point72 asset management firm, showing continued support for the biopharma sector. Bionomics Limited is a clinical-stage biopharmaceutical company based in Australia, currently trading on the Nasdaq and Frankfurt Stock Exchange. The company recently announced its plans to delist from the Australian Securities Exchange (ASX) following a U.S.-focused transformation plan. In other news, the AdvisorShares Psychedelics ETF (PSIL) opened at $1.62 on Monday, Oct. 2, and closed at $1.53 on Friday, Oct. 6.

Portfolio Pulse from Lara Goldstein

October 06, 2023 | 9:07 pm

OXUS

Oxus Acquisition Corp has entered into a second amended and restated promissory note with Oxus Capital PTE. LTD, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:35 pm

ALTU

ALTUU

Altitude Acquisition Corp. (NASDAQ: ALTU, ALTUU) has extended the deadline to complete its initial business combination with Picard Medical, Inc. from October 11, 2023, to November 11, 2023. The extension was requested by Altitude's sponsor, Altitude Acquisition Holdco LLC, and approved by the board of directors. This is the seventh extension, with the board having the right to extend the deadline up to eight times.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:15 pm

GOOG

GOOGL

LLY

META

NEE

NVDA

NVO

PEP

PXD

QQQ

SPY

TLT

XLC

XLK

XLV

XOM

ZROZ

The US Congress averted a government shutdown by passing a stopgap funding bill. Treasury yields surged, with the 10-year yield reaching its highest level in 16 years. This has led to a significant loss in value for funds and ETFs investing in long-dated Treasury bonds. The September jobs report exceeded expectations, indicating a strong labor market and increasing the risk of further Federal Reserve tightening. Walmart reported a decrease in food demand due to the use of weight-loss drugs. Exxon Mobil is considering acquiring Pioneer Natural Resources. The S&P 500 and Nasdaq 100 rebounded from weeks of declines. Several sectors and mega-cap stocks displayed strength this week.

Portfolio Pulse from Piero Cingari

October 06, 2023 | 8:14 pm

OLIT

OmniLit Acquisition Corp. (NASDAQ:OLIT) has announced that its registration statement on Form S-4, relating to the business combination with Syntec Optics, Inc., has been declared effective by the U.S. Securities and Exchange Commission. The Annual Meeting to approve the proposed business combination is scheduled to be held on October 31, 2023. If approved, the combined entity will commence trading on the Nasdaq under the new ticker symbols 'OPTX' and 'OPTXW'.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 4:50 pm

AMGN

MRTX

SNY

Sanofi SA is reportedly considering the acquisition of Mirati Therapeutics Inc, which could strengthen Sanofi's drug pipeline and reduce its reliance on asthma medicine Dupixent. This would also aid Mirati in commercializing Krazati and funding further studies. Mirati's Krazati received FDA accelerated approval in December, but European regulators issued a negative opinion. Meanwhile, FDA advisers concluded that data from a late-stage trial lacked the requisite reliability to endorse the traditional approval of Amgen Inc's Lumakras. Analysts believe this could provide a positive boost to Krazati's launch and short-term adoption rate.

Portfolio Pulse from Vandana Singh

October 06, 2023 | 4:44 pm

EWTX

OSTK

PXD

SMR

SRRK

STGW

TROO

Several US stocks recorded gains in Friday's session. Notably, TROOPS, Inc. (TROO) surged 14.9%, NuScale Power Corporation (SMR) jumped 13.3% after Standard Power chose its SMR technology for two projects, and Scholar Rock Holding Corporation (SRRK) climbed 11% after completing enrollment for a Phase 3 trial. Overstock.com (OSTK) gained 11.4% after a director bought 31,800 shares, and Edgewise Therapeutics (EWTX) rose 10.4% after starting enrollment for a pivotal study. Pioneer Natural Resources (PXD) gained 9.8% following a report of a potential acquisition by Exxon Mobil (XOM), and Stagwell Inc. (STGW) gained 9.7% after a Buy rating initiation and $8 price target announcement.

Portfolio Pulse from Lisa Levin

October 06, 2023 | 4:10 pm

VCIG

VCI Global Ltd (NASDAQ:VCIG) has signed a letter of intent to acquire leasing rights of Impiana Private Villas in Bali and Phuket from Impiana Sdn Bhd. The company plans to redevelop and refurbish the properties through V Capital Real Estate. This move aligns with VCIG's strategy to expand in the Southeast Asia hospitality sector. VCIG recently reported H1 FY23 revenue growth of 108.0% Y/Y to $9.5 million due to higher demand across all business segments.

Portfolio Pulse from Lekha Gupta

October 06, 2023 | 4:00 pm

SLNO

Janus Henderson Group plc has acquired a 10.1% stake in Soleno Therapeutics, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 3:48 pm

MRTX

SNY

Shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) are trading higher after several analysts updated their price targets and reports surfaced of a potential acquisition by Sanofi (NASDAQ:SNY). The stock is trading on heavy volume, exceeding its 100-day average.

Portfolio Pulse from Erica Kollmann

October 06, 2023 | 3:16 pm