Streetbeat News

Acquisitions Mergers

Toronto-Dominion Bank (NYSE:TD) shares rose as the bank announced CEO Bharat Masrani's retirement in 2025, with Raymond Chun named as his successor. The leadership change comes amid challenges, including a failed acquisition and money-laundering investigations.

Portfolio Pulse from Vaishali Prayag

September 19, 2024 | 2:43 pm

AMZN

INTC

MBLY

Mobileye Global Inc (MBLY) stock rose after Intel Corp (INTC) announced it would retain its majority stake in the company. This decision, along with a U.S. Fed rate cut, positively impacted Mobileye's stock. Intel's recent multi-billion-dollar chipmaking deal with Amazon and U.S. semiconductor grants also influenced the market. Despite these developments, both Intel and Mobileye have faced significant stock declines over the past year.

Portfolio Pulse from Anusuya Lahiri

September 19, 2024 | 2:34 pm

FLGC

Flora Growth Corp. (NASDAQ:FLGC) has announced a supply agreement with Blossom Genetics to introduce Colombian medical cannabis strains to the German market. This move is part of Flora's strategy to expand its presence in Europe, following its acquisition of TruHC Pharma GmbH. Flora has been active in Germany since 2017 and holds an EU-GMP facility with access to over 1,200 pharmacies. The company's shares rose by 6.6762% following the announcement.

Portfolio Pulse from Jelena Martinovic

September 19, 2024 | 2:28 pm

AAPL

GOOG

GOOGL

NVDA

SMH

SOXX

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) has promoted Rose Castanares as president of its Arizona unit. TSMC stock is up due to a U.S. Federal Reserve interest rate cut and increased U.S. investment. TSMC is a key supplier for Nvidia and Apple, and has secured chip deals with Google and Apple.

Portfolio Pulse from Anusuya Lahiri

September 19, 2024 | 2:11 pm

NEWT

OMIC

SRBK

Insider trades reveal significant purchases in Singular Genomics Systems, NewtekOne, and SR Bancorp, indicating potential confidence in these companies' prospects. Singular Genomics received a non-binding acquisition proposal, NewtekOne declared a dividend, and SR Bancorp reported a Q2 loss.

Portfolio Pulse from Avi Kapoor

September 19, 2024 | 1:53 pm

PKW

TMUS

XLC

T-Mobile US, Inc. (NASDAQ:TMUS) shares rose after the company announced surpassing its 2021 goals, setting new growth ambitions, and increasing its dividend by 35%. T-Mobile plans to expand its AI-driven approach, enhance its network, and target significant revenue growth by 2027. The company also announced a partnership with OpenAI and plans for substantial investments and shareholder returns.

Portfolio Pulse from Lekha Gupta

September 19, 2024 | 1:32 pm

SGN

Signing Day Sports shares rose following the announcement of its acquisition of Swifty Global, a sports gaming technology company.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 1:11 pm

INAQ

Alpha Modus and Insight Acquisition Corp. have announced the effectiveness of their Form S-4 registration statement for a proposed business combination. The combined company will trade on Nasdaq under the ticker 'AMOD' after stockholder approval.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 1:05 pm

DRCR

SGN

Signing Day Sports, Inc. (NYSE:SGN) is acquiring 95-99% of Swifty Global in an all-equity deal, valuing Swifty at $156 million. The transaction will result in Swifty's CEO, James Gibbons, becoming CEO of Signing Day Sports. SGN shares rose 241.9% premarket.

Portfolio Pulse from Lekha Gupta

September 19, 2024 | 12:27 pm

HSPO

Horizon Space Acquisition I Corp. (NASDAQ:HSPO) has confidentially submitted a registration statement to the SEC for a proposed business combination with Squirrel Enlivened International Co., Ltd. The completion of this business combination is subject to several conditions, including shareholder approval.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 12:19 pm