Streetbeat News

Acquisitions Mergers

DIS

FOX

FOXA

Dwayne 'The Rock' Johnson's Pro Football League XFL and USFL, owned by Fox Corp, are considering a merger. The merger would require regulatory approval and aims to be finalized before the 2024 seasons. The merged league's game broadcasts may be divided between Fox and XFL media partner Walt Disney Co, while the USFL also has a broadcast agreement with NBC.

Portfolio Pulse from Anusuya Lahiri

September 19, 2023 | 4:27 pm

DISH

SATS

TMUS

DISH Network Corp's stock is trading higher amid reports of the company winning government backing in its bid to purchase airwaves from T-Mobile US Inc. EchoStar Corp, which Dish wants to merge with, is also trading higher. U.S. antitrust regulators have urged a judge to extend the deadline to purchase airwaves from T-Mobile US to alleviate the financial strain on Dish. The Justice Department has proposed extending Dish's deadline to April 1, allowing them more time to complete the $3.5 billion purchase.

Portfolio Pulse from Anusuya Lahiri

September 19, 2023 | 3:28 pm

CNDT

Conduent Incorporated and HealthEquity have entered into a definitive agreement to transfer BenefitWallet's Health Savings Account portfolio to HealthEquity. This has resulted in a rise in Conduent's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 3:18 pm

HBI

HanesBrands is exploring strategic options for its global Champion business, including a potential sale or other strategic transaction. The company has made significant structural improvements within Champion, distinguishing its innerwear and activewear businesses. The evaluation process is ongoing, with no set timeline. Financial advisors Goldman Sachs & Co. LLC and Evercore, along with legal advisors Jones Day and Kirkland & Ellis LLP, are assisting in this process.

Portfolio Pulse from Akanksha Bakshi

September 19, 2023 | 2:30 pm

AMZN

GOOG

MSFT

TSM

Several major companies have made headlines. Amazon has hired Microsoft's Chief Product Officer, Panos Panay. Google is under scrutiny for allegedly manipulating ad auctions. Taiwan Semiconductor Manufacturing is planning to boost packaging capacity in Arizona. Microsoft has addressed a security incident involving sensitive information exposure on GitHub. Novo Nordisk has partnered with Aspen Pharmacare to produce insulin in South Africa. BeiGene has regained rights to its cancer drug from Novartis. Rocket Lab's 41st mission faced technical issues. The European Commission has approved ViiV Healthcare's HIV prevention drug. AutoZone's Q4 earnings exceeded estimates. BP has appointed Kate Thomson as interim CFO. MGM Resorts may lose out on casino licenses in NYC due to a scandal. Google and the Department of Defense are developing an AI-powered microscope. Apple faces threats from Huawei in China. Google's Bard AI chatbot is being integrated with Gmail, Google Docs, and YouTube. Starbucks is facing a lawsuit over its 'fruit' drinks.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 2:01 pm

ACHUSD

COIN

Oak Grove Ventures, a Singapore-based fund focusing on biotech, Web3, and AI, has been launched by veterans from several crypto and fintech companies. The $60 million fund has previously supported over 30 projects and early-stage investments, including Elon Musk's SpaceX and Neuralink Corp. However, Web3 funding to VC-backed startups is expected to drop to its lowest level since 2019 in Q3 2023.

Portfolio Pulse from Khyathi Dalal

September 19, 2023 | 1:48 pm

ATVI

MSFT

VGK

UK Business and Trade Minister Badenoch has disagreed with Microsoft's criticism of the Competition and Markets Authority's (CMA) initial decision to block the Activision deal.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 1:46 pm

HBI

HanesBrands (NYSE:HBI) is evaluating strategic options for its global Champion business, including a potential sale or other strategic transaction. The company's board and executive leadership team are undertaking this evaluation to maximize shareholder value. However, there is no assurance that this process will result in any particular transaction or strategic outcome.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 1:44 pm

AFAR

Aura FAT Projects Acquisition Corp has extended the deadline for its initial business combination by one month. The company has deposited $50,000 into its trust account for public shareholders for both the second and third extensions, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 1:43 pm

BGNE

NVS

BeiGene Ltd has announced it will regain rights to develop, manufacture, and commercialize its cancer drug, Tevimbra, from Novartis AG. The European Commission has approved Tevimbra as a monotherapy for adults with certain types of cancer, and the FDA has accepted the biologics license application for the drug, with a target action date in the second half of 2024. BeiGene's shares are up 0.14% premarket.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 1:18 pm