Streetbeat News

Acquisitions Mergers

NIO

XPEV

Nio, Inc. (NYSE:NIO) surged 12% in premarket trading after announcing a $1.9 billion investment in its subsidiary Nio China, with strategic investors contributing $470.64 million. This move is part of Nio's expansion into the mass market with its Onvo brand. Chinese peers XPeng, Inc. (NYSE:XPEV) and Li Auto, Inc. (NASDAQ:LI) also saw gains due to optimism from China's economic stimuli.

Portfolio Pulse from Shanthi Rexaline

September 30, 2024 | 9:03 am

TIXT

TELUS Corporation has acquired an additional 2.35% stake in TELUS International, bringing its total ownership to 57.7%. This move reflects TELUS's confidence in TELUS Digital's growth strategy, with no current plans to privatize the business.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 7:16 am

NIO

NIO Inc. announced a strategic investment in its subsidiary NIO China, with a total of RMB13.3 billion to be invested. NIO will invest RMB10 billion, while strategic investors will contribute RMB3.3 billion. This move aims to strengthen NIO's position in the electric vehicle market.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 7:11 am

BKD

DHC

Diversified Healthcare Trust (DHC) is selling 18 senior living communities to Brookdale Senior Living (BKD) for $135 million. The proceeds will be used to pay down $941 million in senior secured notes. The transaction is expected to close in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 7:01 am

MESO

Mesoblast Limited has secured a $50 million convertible note deal with its largest shareholder, contingent on FDA approval of its product Ryoncil for treating SR-aGvHD in children. The funding will support the company's commercial launch strategy.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 6:54 am

NIO

Nio, Inc. (NYSE:NIO) has secured a $1.9 billion investment from strategic investors and its parent company to support its expansion into the mass market with its Onvo brand. This investment will enhance Nio's balance sheet and support its growth in the competitive Chinese electric vehicle market.

Portfolio Pulse from Shanthi Rexaline

September 29, 2024 | 2:59 pm

CORZ

Core Scientific Inc. (NASDAQ:CORZ) has made a significant recovery after exiting bankruptcy, with its stock surging 260% due to Bitcoin's price recovery. The company is pivoting towards AI and high-performance computing, securing a $6.7 billion contract with CoreWeave. Core Scientific's purchase of mining chips from Jack Dorsey's Block Inc (NYSE:SQ) aligns with Trump's vision for US Bitcoin mining dominance.

Portfolio Pulse from Aniket Verma

September 29, 2024 | 1:15 pm

GOOGL

MAR

MSFT

NKE

The tech world saw significant developments this week, including Elon Musk's criticism of OpenAI's for-profit transition, Bill Gates' praise for ChatGPT, and Jony Ive's collaboration with Sam Altman on AI hardware. Google rehired AI pioneer Noam Shazeer, and Bezos-backed Perplexity AI is challenging Google's ad dominance.

Portfolio Pulse from Benzinga Neuro

September 29, 2024 | 1:01 pm

GOEV

KARS

NIO

RIVN

TSLA

The EV sector saw significant movements this week, with Tesla leading the charge due to strong sales in China and upcoming catalysts. Rivian faced a downgrade from Morgan Stanley, while Canoo expanded to the UK amidst internal challenges. Nio began deliveries of its new low-end EV, and GM announced a partnership for fast-charging batteries. The KraneShares Electric Vehicles and Future Mobility Index ETF saw a notable rise.

Portfolio Pulse from Shanthi Rexaline

September 28, 2024 | 2:35 pm

AAPL

MSFT

NVDA

Apple has withdrawn from OpenAI's funding round discussions, while Microsoft and Nvidia are still considering investments. The funding round aims to raise $6.5 to $7 billion. OpenAI is transitioning to a for-profit model, which has been controversial.

Portfolio Pulse from Ananya Gairola

September 28, 2024 | 6:52 am