Streetbeat News

Acquisitions Mergers

BEEM

Beam Global has entered into a definitive agreement to acquire 100% of the equity of Amiga, a Serbian company engaged in the manufacturing and distribution of steel structures with electronic integration. The transaction will be effected through a Share Sale and Purchase Agreement, with Beam paying a combination of cash and Beam common stock to the sellers. The transaction is expected to close in Q4 2023, subject to customary conditions.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 1:00 pm

CRWD

FTV

PXD

XOM

On CNBC's 'Halftime Report Final Trades', ExxonMobil Corporation was mentioned for its 3.2% dividend yield and share buyback. ExxonMobil is reportedly acquiring Pioneer Natural Resources Co. for approximately $60 billion. Fortive Corporation was named by Karen Firestone of Aureus Asset Management, highlighting its Q2 sales growth of 4.3% YoY. Joshua Brown of Ritholtz Wealth Management picked CrowdStrike Holdings, Inc., which recently launched cybersecurity's first zero-code application development platform.

Portfolio Pulse from Priya Nigam

October 06, 2023 | 12:55 pm

ALB

Australian billionaire Gina Rinehart has increased her stake in lithium producer Liontown Resources to 16.7%, potentially blocking US miner Albemarle Corp's $4.3 billion proposed takeover of the company. Liontown's Kathleen Valley lithium project in Western Australia, one of the world's most promising lithium deposits, has already agreed to supply Ford with battery raw material. Albemarle's latest bid requires 75% support from Liontown investors, and a stake of between 15% and 20% can often become a blocking stake.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 12:44 pm

PHG

PXD

VCNX

Vaccinex (VCNX) shares are up 43% premarket after two large insider buys were reported. Pioneer Natural Resources (PXD) shares are trading higher following a report suggesting Exxon Mobil is nearing a $60 billion deal to buy the company. Philips (PHG) shares are down due to an update on its June 2021 recall, with the FDA stating that the testing and analysis Philips shared are inadequate to fully evaluate the risks posed to users from recalled devices.

Portfolio Pulse from ryanfaloona@benzinga.com

October 06, 2023 | 12:39 pm

ATVI

MSFT

SONY

Microsoft Corp is close to completing its $68.7 billion acquisition of Activision Blizzard, Inc, potentially by October 13. The deal is contingent on the approval of the U.K.'s Competition and Markets Authority (CMA), which had previously obstructed the deal. Microsoft secured preliminary approval from the CMA after restructuring the agreement to transfer cloud gaming rights for current and new Activision Blizzard games to Ubisoft. Microsoft had also cut similar deals with Nvidia Corp and Sony Group Corporation to win support for the acquisition.

Portfolio Pulse from Anusuya Lahiri

October 06, 2023 | 12:35 pm

XOM

Exxon Mobil is reportedly close to acquiring Pioneer Natural Resources in a deal worth $60 billion. This news has led to a decrease in Exxon Mobil's share price.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 12:34 pm

FOXO

FOXO Technologies' Interim CEO, Mark White, has outlined a new strategy for the company, focusing on AI-enabled direct-to-consumer services and immediate expense reductions. The company plans to launch a subscription-based app leveraging AI, machine learning, and epigenetic data to enhance health and wellness. FOXO is also considering strategic alternatives, including the acquisition of complementary AI technologies and/or strategic sales of assets. The company is shifting its focus away from selling life insurance products and instead concentrating on its Bioinformatics Services offering.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 12:34 pm

VCIG

VCI Global Limited (NASDAQ:VCIG) intends to acquire the leasing rights of two resort properties in Bali and Phuket from Impiana Sdn Bhd. The acquisitions are part of VCI Global's strategy to expand in the hospitality segment within the Southeast Asia region. The growth potential in these areas is significant, with Thailand's hospitality industry expected to reach $19 billion by 2028 and Indonesia's travel and tourism sector valued at $7.5 billion to $8.0 billion in 2023.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 12:33 pm

PXD

XOM

Exxon Mobil is reportedly close to acquiring Pioneer Natural Resources in a deal worth $60 billion. This news has led to a rise in Pioneer's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 12:32 pm

PXD

XOM

Pioneer Natural Resources Company's shares rose by 11.6% in pre-market trading due to reports of Exxon Mobil Corp. nearing a purchase deal with the company, potentially worth around $60 billion. Other notable pre-market movers include Vaccinex, Inc., RVL Pharmaceuticals plc, and ETAO International Co., Ltd. On the other hand, OMNIQ Corp., Near Intelligence, Inc., and AgriFORCE Growing Systems Ltd. saw significant drops in their share prices.

Portfolio Pulse from Lisa Levin

October 06, 2023 | 12:26 pm