Streetbeat News

Acquisitions Mergers

MSFT

NVDA

OpenAI employees might be allowed to sell shares following a $6.6 billion funding round, as stated by the company's CFO. This development could impact companies like Microsoft (MSFT) and Nvidia (NVDA), which have investments or partnerships with OpenAI.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 5:30 pm

SMLP

Summit Midstream shares are trading higher following the announcement of its acquisition of Tall Oak Midstream Operating, LLC and its subsidiaries for $155 million in cash plus common stock.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 5:28 pm

AJG

Arthur J. Gallagher & Co. has acquired Risk International through its subsidiary Artex. The terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 5:17 pm

JOBY

TM

WBAT

Toyota is investing an additional $500 million in Joby Aviation to support the certification and production of electric air taxis. This investment will increase Toyota's total stake in Joby to $894 million. The funds will aid in the certification and commercial production of Joby's electric air taxi, with plans for a manufacturing alliance. Joby is progressing towards commercialization, having completed significant stages in the certification process.

Portfolio Pulse from Lekha Gupta

October 02, 2024 | 4:45 pm

MSFT

NVDA

OpenAI has successfully raised $6.6 billion in a funding round, achieving a valuation of $157 billion. Notable participants in this funding round include Microsoft and Nvidia, along with Thrive Capital.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 4:38 pm

ICCT

ICoreConnect, Inc. (NASDAQ:ICCT) shares rose after announcing the sale of its managed service provider division to The 20 LLC. The divestiture aims to reduce debt, reinvest in core areas, and streamline operations for better market responsiveness.

Portfolio Pulse from Dylan Berman

October 02, 2024 | 4:05 pm

EWI

MSFT

Microsoft plans to invest €4.3 billion in Italy to enhance its AI infrastructure and cloud capacity. This move is part of Microsoft's strategy to expand its technological footprint in Europe.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 3:18 pm

IYG

JPM

XLF

J.P. Morgan Asset Management is expanding its Canadian business by launching two active ETFs on the Toronto Stock Exchange, targeting income-focused investors. This move is part of a broader strategy to grow its presence in Canada, including plans to add up to 20 jobs. J.P. Morgan shares saw a slight increase following the announcement.

Portfolio Pulse from Lekha Gupta

October 02, 2024 | 3:07 pm

MULN

Mullen Automotive, listed on NASDAQ as MULN, has faced significant challenges since its debut. Despite initial promises of luxury EVs and advanced battery technology, the company failed to meet commercialization goals, leading to a 90% stock value drop by March 2022. A lawsuit followed, accusing Mullen of misleading investors, which was settled for $7.25 million. Hindenburg Research's report further damaged Mullen's reputation, highlighting inflated claims and leadership issues.

Portfolio Pulse from Stan Vick

October 02, 2024 | 2:27 pm

CCI

Zayo Group and TPG are reportedly bidding for Crown Castle's fiber and wireless assets, which could be valued at nearly $10 billion.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 2:04 pm