Streetbeat News

Acquisitions Mergers

EMR

Emerson (NYSE: EMR) has announced a definitive agreement to acquire FLEXIM Flexible Industriemeßtechnik GmbH, a global leader in clamp-on ultrasonic flow measurement for liquids, gases and steam. The acquisition will expand Emerson's automation portfolio and measurement capabilities, complementing its existing flow measurement positions.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:57 am

HYMTF

Hyundai Motor's Indian unit is acquiring General Motors' plant in Talegaon, Maharashtra, which will boost Hyundai's total production capacity to a million units per year. The financial details of the deal remain undisclosed. This acquisition will allow General Motors to exit the Indian market, where it stopped selling cars in 2017 due to declining sales.

Portfolio Pulse from Benzinga India Staff

August 16, 2023 | 10:46 am

EYEN

Eyenovia has acquired the U.S. commercial rights to commercialize APP13007, a treatment for post ocular surgery pain and inflammation. This acquisition could potentially expand Eyenovia's product portfolio and market reach.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 10:02 am

COHR

GOEV

MRCY

NIO

SPGC

TMC

TSEM

VFS

Several stocks are recording losses in today's pre-market trading session. Sacks Parente Golf shares tumbled 27.9% after announcing the pricing of its $12.8 million IPO. Coherent Corp shares declined 21.9% following the company's Q4 results. VinFast Auto shares fell 11.9% after recently completing its SPAC merger. Tower Semiconductor and Intel mutually agreed to terminate their merger deal, leading to an 11.8% dip in Tower Semiconductor shares. Mercury Systems shares declined 10.2% after reporting weaker-than-expected Q4 results and a weak FY24 forecast. TMC the metals company shares fell 5.5%, Canoo Inc fell 5% following its Q2 results, and NIO Inc fell 4% ahead of its Q2 2023 results announcement.

Portfolio Pulse from Lisa Levin

August 16, 2023 | 10:01 am

HYMTF

Hyundai Motor India has signed an asset purchase agreement for the acquisition of identified assets at GM India's plant. The financial details of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 8:33 am

INTC

TSEM

Intel Corporation and Tower Semiconductor have mutually agreed to terminate their merger agreement due to regulatory approval delays. Intel will pay a termination fee of $353 million to Tower.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 7:25 am

INTC

TSEM

Intel Corp. is likely to cancel its $5.4 billion acquisition of Tower Semiconductor Ltd. due to lack of regulatory approval from China. The deadline for the transaction was August 15, 2023, and the companies do not expect to receive approval by then.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 4:15 am

QCOM

TWTR

Elon Musk's strategy to increase profitability for X Premium, previously known as Twitter, through cash offers to creators has seen minimal success, with less than 100,000 new subscribers joining from July 1 to August 10. Despite the platform's features and Musk's rebranding efforts, growth has been sluggish. The platform is a crucial source of ongoing income for Musk, especially after his acquisition of Twitter for $44 billion in 2022.

Portfolio Pulse from Benzinga Neuro

August 16, 2023 | 3:34 am

TGT

TSLA

VFS

Shares of Target, Nu Holdings, Hawaiian Electric, VinFast, and Tesla drew investor attention amid a challenging day for the stock market. Target is preparing to report its Q2 earnings, while Nu Holdings highlighted a 5x revenue growth in its Q2 2023 financial results. Hawaiian Electric faced scrutiny over fire risks and potential impacts on its credit quality. VinFast surged after completing its SPAC merger, and Tesla introduced two new 'standard range' versions of its Model S and X vehicles.

Portfolio Pulse from Benzinga Neuro

August 16, 2023 | 2:05 am

DTIL

Precision BioSciences (NASDAQ:DTIL) has completed a strategic transaction with Imugene Limited for global rights to Azercabtagene Zapreleucel (azer-cel), Precision's lead allogeneic CAR T candidate, for cancer. Imugene will assume ongoing clinical execution for azer-cel in the large B-cell lymphoma (LBCL) population. Precision is eligible to receive up to $227 million in upfront economics and milestone payments for azer-cel, in addition to double-digit royalties on sales.

Portfolio Pulse from Charles Gross

August 15, 2023 | 11:50 pm