Streetbeat News

Acquisitions Mergers

QABSY

Boeing is reportedly close to securing an order for more of its 787 Dreamliner aircraft from Australia’s Qantas Airways. The order for an unspecified number of 787-10s could be announced as early as this month. This would be Qantas's first order of the 787-10 model, a stretched version of the 787-9 with shorter range that is designed to compete against the Airbus A330. The deal is not final until it has won airline board approval.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 10:48 pm

NCMGY

NEM

Newmont Corporation has received clearance from Australia's competition regulator to proceed with its acquisition of Newcrest Mining Limited.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 9:31 pm

NVDA

SFBQF

Chipmaker Arm has filed for a Nasdaq listing under the ticker symbol 'ARM'. Previously acquired by SoftBank Corp for $32 billion in 2016, Arm was initially intended to be sold to Nvidia Corp but faced regulatory scrutiny. The company, which designs the architecture of chips in 99% of all smartphones, is currently facing a decline in product demand. However, its potential IPO could represent a demand for new offerings for investors.

Portfolio Pulse from Ryan Gustafson

August 21, 2023 | 9:25 pm

EMAN

SSNHZ

SSNLF

Proxy advisory firms ISS and Glass Lewis have recommended that eMagin shareholders vote in favor of the proposed transaction with Samsung Display. Shareholders as of July 20, 2023, are eligible to vote on the transaction before the Special Meeting of Shareholders on August 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 8:34 pm

COIN

Coinbase, a leading cryptocurrency exchange, is taking an equity stake in Circle, a blockchain technology company. The details of the deal have not been disclosed.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 8:26 pm

ACAQ

Athena Consumer Acquisition Corp. (ACAQ) has extended the deadline to complete its initial business combination from August 22, 2023, to September 22, 2023. This is the second of three potential one-month extensions. In connection with this extension, Athena's sponsor, Athena Consumer Acquisition Sponsor LLC, deposited $60,000 into Athena's trust account.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 8:24 pm

ARIZ

Arisz Acquisition Corp. (NASDAQ: ARIZ) has announced an extension of the deadline to complete its business combination with Finfront Holding Company (BitFuFu) to September 22, 2023. This extension is the fourth of up to nine one-month extensions permitted under the May 12, 2023 amendment to the Amended and Restated Certificate of Incorporation of Arisz Acquisition Corp.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 8:08 pm

MRNA

NKLA

NSSC

PANW

SLGG

TMBR

US stocks traded mixed with the Nasdaq Composite gaining around 1.5%. Palo Alto Networks (PANW) reported better-than-expected Q4 earnings and issued a strong billings outlook, causing its shares to rise by 15%. Timber Pharmaceuticals (TMBR) shares shot up 99% as it agreed to be acquired by LEO US Holding. Moderna (MRNA) shares were up 10% as preliminary clinical trial data confirmed its updated COVID-19 vaccine showed a significant boost in neutralizing antibodies. Super League Gaming (SLGG), Napco Security Technologies (NSSC), and Nikola Corporation (NKLA) shares fell by 47%, 47%, and 21% respectively.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 6:51 pm

CHDN

JMP Securities analyst Jordan Bender reiterated a Market Outperform rating on Churchill Downs Inc (CHDN) with a price target of $155. The company's pending $250 million acquisition, Exacta Systems, announced the first-ever electronic historical horse racing (HHR) table games through a partnership with Interblock. The analyst believes CHDN HHR revenue will drive robust growth, increasing at an attractive 46% CAGR through 2025. The addition of HHR tables could generate an incremental $300 million revenue, 10% above the analyst’s current 2025 estimate.

Portfolio Pulse from Shivani Kumaresan

August 21, 2023 | 6:38 pm

DWAC

The merger between Trump Media & Technology Group (TMTG) and Digital World Acquisition Corporation (DWAC) has faced several setbacks and regulatory pressure since its announcement in October 2021. The merger approval vote has been pushed back to Dec. 31, 2023. DWAC faces a deadline of Sept. 8, 2023, to obtain shareholder approval to extend the merger to September 2024 or it faces liquidation. DWAC stock has been highly volatile in 2023, with several spikes around Trump's four indictments.

Portfolio Pulse from Chris Katje

August 21, 2023 | 6:22 pm