Streetbeat News

Acquisitions Mergers

AVGO

VMW

Broadcom and VMware shares are trading higher as EU Antitrust Regulators are reportedly set to approve Broadcom's acquisition of VMware.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 3:51 pm

HSBC

HSBC has launched a new HSBC Innovation Banking unit at the London Tech Week, which includes the acquired Silicon Valley Bank UK arm and newly formed innovation teams in the U.S., Israel, and Hong Kong. The unit aims to offer globally-connected, specialized banking services for innovative businesses and their investors.

Portfolio Pulse from Lekha Gupta

June 12, 2023 | 3:26 pm

NAAS

NaaS Technology Inc's subsidiary Dada Auto has agreed to acquire 89.999% of Sinopower Holdings International for $6.1 million. Sinopower is a rooftop solar energy developer in Hong Kong. The acquisition is expected to close in June 2023.

Portfolio Pulse from Shivani Kumaresan

June 12, 2023 | 3:15 pm

AMD

META

NVDA

SPY

TSLA

AMD is set to host its 'AMD Data Center and AI Technology Premiere' event on June 13, showcasing its growth strategy and product portfolio in the data center and AI industries. The company's stock has surged 95% in 2023, making it the fourth highest-performing company in the S&P 500 index.

Portfolio Pulse from Piero Cingari

June 12, 2023 | 3:13 pm

KDNY

NVS

Novartis (NYSE:NVS) has announced a merger with Chinook Therapeutics (NASDAQ:KDNY) expected to be completed in H2 2023. Novartis will give Chinook Therapeutics $3.20 billion in cash in exchange for KDNY stock.

Portfolio Pulse from Benzinga Insights

June 12, 2023 | 3:10 pm

NYCB

Following the collapse of Signature Bank due to its investment in cryptocurrency, the FDIC transferred its deposits and assets to Signature Bridge Bank, N.A. This led to the federal government inadvertently funding the marijuana industry, as Signature Bank was servicing some regulated marijuana businesses. New York Community Bancorp (NYSE:NYCB) later acquired 40 former Signature Bank branches.

Portfolio Pulse from Nina Zdinjak

June 12, 2023 | 3:05 pm

MCOM

Micromobility.com (NASDAQ:MCOM) shares surged over 60% on high volume after announcing a Letter of Intent to merge with EVMO, Inc., a provider of fleet management and vehicle rentals for the rideshare and delivery gig economy. The company also reported an extension of its operating permit in Austin, Texas, allowing it to operate a fleet of 1,750 seated scooters.

Portfolio Pulse from Erica Kollmann

June 12, 2023 | 3:00 pm

MEOH

NDAQ

US stocks traded higher on Monday, with the Nasdaq Composite rising around 70 points. However, several big stocks recorded losses, including Nasdaq, Inc., which fell 10.9% after announcing the acquisition of Adenza for $10.5 billion in cash and stock. Methanex Corporation also dropped 7.9% after being downgraded by Scotiabank.

Portfolio Pulse from Lisa Levin

June 12, 2023 | 2:52 pm

BECN

Beacon (NASDAQ:BECN) has acquired Silver State Building Materials, a family business based in Gardnerville, Nevada, serving the South Lake Tahoe and Reno market with residential roofing and complementary products for over 30 years. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 2:46 pm

GRRR

Gorilla Technology Group (NASDAQ:GRRR) has agreed to acquire Bacom Internetwork in Thailand, aiming to offer Smart and Safe City solutions in the country and drive global expansion. The acquisition is expected to close by the end of September. Gorilla expects Bacom to attain a CAGR of over 50% over the next three years.

Portfolio Pulse from Lekha Gupta

June 12, 2023 | 2:18 pm