Streetbeat News

Acquisitions Mergers

COSM

Cosmos Health Inc. (NASDAQ:COSM) announced its intention to spin off its research and development (R&D) division into a publicly listed standalone biotech company. The company has been investing in innovative R&D over the past few years, with projects addressing major health disorders such as obesity, cancer, and diabetes. The spinoff is part of the company's strategy to unlock shareholder value.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 2:33 pm

YTRA

Yatra Online, Inc.'s Indian subsidiary, Yatra Online Limited, is set to commence trading on the Bombay Stock Exchange on September 28, 2023, after a successful IPO of $93 million. The parent company will retain about 65% ownership in the subsidiary. The IPO proceeds will be used for strategic investments, acquisitions, customer acquisition and retention, technology, and other growth initiatives. Yatra Online also benefits from an additional capital of ~$21 million by selling shareholder THCL. YTRA shares are trading higher by 7.34% at $2.34.

Portfolio Pulse from Akanksha Bakshi

September 27, 2023 | 2:08 pm

PRO

PROS Holdings, Inc is reportedly working with Qatalyst Partners to explore a potential sale, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 1:57 pm

AGR

Avangrid, Inc. (NYSE:AGR) and Vitol Inc. have reached a transfer agreement for an estimated $100 million of 2023 production tax credits (PTCs) from eight operating wind farms. This is one of the largest publicly announced deals since the passage of the Inflation Reduction Act (IRA), which created a new transferable credit framework to help developers monetize PTCs. The agreement will allow Avangrid to pay down debt and make further capital investments.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 1:51 pm

AAPL

AMZN

BABA

JPM

LLY

MRNA

NVO

PAYX

PFE

QCOM

TGT

TRI

WBD

Alibaba's logistics arm Cainiao files for Hong Kong IPO, potentially boosting Alibaba's stock. Qualcomm's Snapdragon 8 Gen 3, manufactured under TSMC's process, is set to rival Apple's 3nm chip technology. The European Medicines Agency is investigating potential anesthesia complications linked to weight loss drugs like Wegovy by Novo Nordisk and others by Eli Lilly, AstraZeneca, and Sanofi. Target is closing nine stores due to rising retail crime. Paychex reports 7% sales growth in Q1 FY24. Hollywood writers secure credit in a new deal with studios like Warner Bros., Paramount Global, Netflix, and Walt Disney. JPMorgan settles Jeffrey Epstein lawsuit for $75M. Thomson Reuters faces Ross Intelligence in court over AI dispute. Pfizer's oral COVID-19 antiviral pill faces doubts over commercial approval. McKinsey settles opioid lawsuit for $230M. Eli Lilly wins patent infringement case against Teva. Apple defends its $19B Google search deal. Warner Music Group CEO shares vision on AI in music at Code Conference 2023. Amazon addresses return-to-office policy concerns. China's chip fund faces economic challenges. Moderna in talks for enhanced COVID-19 vaccine availability in Europe.

Portfolio Pulse from Vandana Singh

September 27, 2023 | 1:47 pm

DSX

Diana Shipping has announced the purchase of two 81,200 Dwt Methanol Dual Fuel New-Building Kamsarmax Dry Bulk Vessels for a price of $46M each. The vessels are expected to be delivered in H2 2027 and H1 2028.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 1:29 pm

KNDI

Kandi America, a subsidiary of Kandi Technologies Group, Inc. (NASDAQ:KNDI), has acquired a new distribution center in suburban Dallas, Texas. The facility, completed in 2023, is part of Kandi's strategy to accommodate its growing all-electric sport vehicle business in the U.S. The company expects the distribution center to be fully operational in the next few months.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 1:17 pm

LGND

Ligand Pharmaceuticals has acquired the assets of Novan, Inc. for $12.2 million. The remaining commercial assets of EPI Health are to be sold to other parties.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 1:03 pm

MOFG

MidWestOne Financial Group (MOFG) has announced a strategic acquisition of Denver Bankshares for $32.6M in cash. The deal is expected to close in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 12:40 pm

AAPL

BTCUSD

COST

PAYX

TSLA

The article covers a range of topics including US markets, crypto, politics, electric vehicles, tech, consumer, communication, energy, healthcare, and space. Key points include a potential government shutdown, a 70% drop in Binance.US revenue, Costco and other stocks moving lower, and insider buying of LifeVantage and Motorcar Parts of America. In crypto, Binance.US and Coinbase are facing legal and regulatory challenges. In politics, the White House is preparing for a potential shutdown and Elon Musk alleges regulatory harassment. In electric vehicles, Tesla is expanding its Supercharger network and considering a new project in Texas. In tech, OpenAI is seeking to triple its valuation and Apple faces doubts about its new product. In consumer news, Elon Musk criticizes Biden's support for UAW demands. In energy, NextEra Energy sells Florida City Gas to Chesapeake Utilities.

Portfolio Pulse from Akanksha Bakshi

September 27, 2023 | 12:39 pm