Streetbeat News

Acquisitions Mergers

ALXO

PNT

SDC

VERY

Several stocks experienced significant movement in Tuesday's mid-day session. Vericity, Inc. (VERY) shares climbed 87.4% after iA Financial Group announced it will acquire the company. POINT Biopharma Global Inc. (PNT) surged 84.7% after Eli Lilly And Co (LLY) agreed to acquire the company. ALX Oncology Holdings Inc. (ALXO) shares jumped 56% after releasing interim Phase 2 data from its ASPEN-06 trial. On the downside, SmileDirectClub, Inc. (SDC) dipped 39.7% after receiving notice that its securities will be delisted from the Nasdaq. WeWork Inc. (WE) fell 22% after opting not to make aggregate interest payments totaling about $95.2 million.

Portfolio Pulse from Lisa Levin

October 03, 2023 | 5:32 pm

AER

EADSY

LTMAY

AerCap Holdings (AER) has delivered the first of eight new Airbus (EADSY) A321neo aircraft to LATAM Airlines Group (LTMAY). LATAM has also ordered 13 additional A321neo aircraft to expand its route network and drive regional growth. The remaining aircraft are scheduled for delivery through 2023 and 2024. The new A321neos are at least 20% more fuel-efficient, emitting 20% less CO2 and 50% less noise compared to previous generation aircraft.

Portfolio Pulse from Nabaparna Bhattacharya

October 03, 2023 | 4:59 pm

FEMY

OCEA

PNT

SDC

SPRC

VERY

US stocks fell with the Nasdaq Composite dropping over 200 points. Job openings increased by 690,000 to 9.61 million in August. Vericity, Inc. (VERY) shares rose 87% after iA Financial Group announced its acquisition. POINT Biopharma Global Inc. (PNT) shares rose 85% after Eli Lilly And Co (LLY) agreed to acquire it. SciSparc Ltd. (SPRC) shares rose 33% after being granted a European patent. SmileDirectClub, Inc. (SDC) shares fell 42% after receiving a delisting notice from Nasdaq. Ocean Biomedical, Inc. (OCEA) shares fell 26% after announcing its cancer-targeting immunotherapy antibody candidate's results. Femasys Inc. (FEMY) shares fell 36%.

Portfolio Pulse from Lisa Levin

October 03, 2023 | 4:20 pm

PBR

Petrobras CEO has announced that the company is looking to get closer to final consumers, although the method for this is still under study. The company may also announce mergers and acquisitions in onshore wind power and solar power by early 2024.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:16 pm

PNC

SBNY

PNC Bank, a subsidiary of PNC Financial Services Group Inc, has acquired a portfolio of select capital commitments facilities worth $16.6 billion from Signature Bridge Bank. The deal, which includes funded loans of $9 billion, is expected to be immediately accretive to PNC's earnings, adding an EPS of $0.10 in Q4 2023. The transaction will not significantly impact PNC's total assets, capital ratios, or tangible book value per share.

Portfolio Pulse from Lekha Gupta

October 03, 2023 | 4:09 pm

BLK

BlackRock, the U.S. fund, is in a leading position to acquire a minority stake in Italy's Iren Gas Network. The deal's details are yet to be disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 3:30 pm

EADSY

UAL

United Airlines Holdings Inc. is reportedly close to placing an order for A321 jets from Airbus SE. The order will supplement United's existing backlog of 120 A321s from Airbus. United has also placed orders for Boeing Company's 737 Max model, indicating a balanced fleet diversification and expansion approach.

Portfolio Pulse from Akanksha Bakshi

October 03, 2023 | 3:30 pm

BNOX

CYBN

MRK

Steve Cohen, through his Point72 asset management firm, has purchased 119,092,680 ordinary shares of Bionomics Limited (NASDAQ:BNOX). The purchase coincided with Bionomics' announcement of positive results from its Phase 2b clinical trial on lead drug candidate BCN210 for PTSD treatment. Bionomics is also working with EmpathBio and Merck (NYSE:MRK) on various treatments.

Portfolio Pulse from Lara Goldstein

October 03, 2023 | 2:56 pm

LLY

Eli Lilly and Company (LLY) has announced the acquisition of POINT Biopharma for an aggregate purchase price of approximately $1.4 billion. This has led to a decrease in Lilly's share price.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 2:28 pm

GME

SONY

Best-selling author Ben Mezrich is set to release a book titled “Breaking Twitter: Elon Musk and the Most Controversial Corporate Takeover in History” on November 7. The book will chronicle Elon Musk's $44 billion acquisition of Twitter. Mezrich previously authored “The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees,” which inspired the movie “Dumb Money” from Sony Group Corp.

Portfolio Pulse from Chris Katje

October 03, 2023 | 2:18 pm