Streetbeat News

Acquisitions Mergers

CHS

JBL

SLNO

Several US stocks recorded gains in Thursday's session. Chico's FAS shares jumped 61.7% following its acquisition by Sycamore Partners. Soleno Therapeutics gained 22.2% after reporting pricing of a $120 million public offering. Organogenesis Holdings, Shengfeng Development, USA Compression Partners, VinFast Auto, Neumora Therapeutics, Jabil, Suburban Propane Partners, Concentrix Corporation, Sunoco, VNET Group, Sprout Social, Stratasys, and Alcoa Corporation also saw significant gains.

Portfolio Pulse from Lisa Levin

September 28, 2023 | 2:40 pm

ASTI

BCLI

BNOX

BXRX

CHS

RNLX

US stocks traded higher with the Dow Jones gaining around 80 points. Jobless claims rose by 2,000 to 204,000, lower than market expectations of 215,000. Bionomics Limited (BNOX), Baudax Bio, Inc. (BXRX), and Chico's FAS, Inc. (CHS) saw significant stock increases due to positive news, while Ascent Solar Technologies, Inc. (ASTI), Brainstorm Cell Therapeutics Inc. (BCLI), and Renalytix Plc (RNLX) experienced stock decreases due to negative news.

Portfolio Pulse from Lisa Levin

September 28, 2023 | 2:16 pm

SJ

Scienjoy Holding Corporation (NASDAQ:SJ), a Chinese live streaming and entertainment platform provider, has announced key advancements in its metaverse initiatives. The company has established Scienjoy Verse Tech Ltd in the Dubai International Financial Centre, aiming to make it the epicenter of the global metaverse business. Scienjoy has also appointed Dr. Khalifa Al Shimmari as the Chief Strategy Officer of SVTL. Furthermore, Scienjoy has signed a Memorandum of Understanding to acquire 90% shares in NUJOOM ALMASHREQ MEDIA L.L.C, a Dubai-based multi-channel network.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 2:13 pm

DM

SSYS

The merger agreement between Desktop Metal, Inc. (NYSE:DM) and Stratasys Ltd. (NASDAQ:SSYS) has been terminated after Stratasys shareholders did not approve the deal. Despite this, Desktop Metal remains focused on its path to profitability, with plans to improve non-GAAP gross margins, operating expenses, adjusted EBITDA, and operating cash flow. The company entered the second half with cash of $127.6 million.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:55 pm

CLF

X

Cleveland Cliffs (CLF) has signed a non-disclosure agreement and a short standstill in its bid for U.S Steel (X), according to CNBC sources.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:42 pm

MDGS

Medigus Ltd. (NASDAQ:MDGS) has signed an agreement to form a joint venture with a US-based partner to purchase, renovate, manage and sell a commercial property in Miami, Florida. Medigus will initially contribute $2 million for a 60% stake in the JV, which will decrease to 30% once the initial contribution has been fully repaid. The company plans to explore additional opportunities in Miami's real estate market.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:24 pm

HEPS

Hepsiburada (NASDAQ:HEPS), a Turkish e-commerce platform, has announced the purchase of 4,615,384 Class B ordinary shares from TurkCommerce for $5,732,306.93, at a price per share of $1.242. This represents a discount of 10% over the official closing price on Nasdaq of one Hepsiburada American Depositary Share (ADS) on September 27, 2023. The payment will be made by offsetting the $3,975,000 settlement contribution amount owed by TurkCommerce to Hepsiburada and a cash payment of $1,757,306.93. The transaction is expected to close on October 12, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:08 pm

EMN

Eastman Chemical Company (NYSE:EMN) has agreed to sell its Texas City Operations to INEOS Acetyls for $490 million. The sale includes $415 million in cash at closing and the remainder in equal installments on the first and second anniversaries of the closing. Eastman will retain ownership of its plasticizer business at the site, which INEOS will operate for Eastman. The sale is expected to be accretive to Eastman's adjusted earnings per share in 2024 and the proceeds will be used for debt repayment.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:03 pm

DM

SSYS

Stratasys Ltd. (NASDAQ:SSYS) has announced that it is exploring strategic alternatives following the termination of its merger agreement with Desktop Metal, Inc. (NYSE:DM). The decision was made after Stratasys shareholders did not approve the terms of the merger agreement.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:03 pm

NAAS

NaaS Technology Inc. (NASDAQ:NAAS), the first U.S. listed EV charging service company in China, has won a bid for Phase I of the Anji Green and Low-carbon Supply Chain Construction Project. The project, worth RMB67.18 million, involves the installation of charging systems, battery swapping systems, PV systems, and energy storage systems. NaaS will also develop an integrated energy management platform and charging management system for the station.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 12:57 pm