Streetbeat News

Acquisitions Mergers

LAC

Lithium Americas Corp and General Motors Co are facing delays in closing their $330 million Tranche 2 investment due to Lithium Americas' low share price, which could lead to high dilution. Both companies are seeking mutually beneficial solutions, with the decision-making process extended until year-end. The delay also impacts the timeline for a critical DOE loan for the Thacker Pass project, affecting GM's EV plans.

Portfolio Pulse from Surbhi Jain

September 05, 2024 | 2:12 pm

PMAX

Powell Max Limited, a financial communications services provider, has announced the pricing of its IPO, offering 1,426,750 Class A Ordinary Shares at $4 per share, aiming to raise $5.707 million. The shares will trade on NASDAQ under the symbol PMAX starting September 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 2:02 pm

APLD

EAST

HOTH

QLGN

SGLY

SIFY

U.S. stocks edged higher with the Nasdaq Composite gaining 0.2% as jobless claims fell to 227,000. Eastside Distilling surged 212% on a merger announcement, while Hoth Therapeutics rose 86% on positive treatment data. Applied Digital gained 40% after securing $160 million in financing.

Portfolio Pulse from Avi Kapoor

September 05, 2024 | 1:42 pm

HOOD

TSLA

Verizon announced a $20 billion acquisition of Frontier, reaffirming its FY24 outlook. Tesla's sales dropped despite rising EV registrations in Britain, while BYD surged. Bitcoin, Ethereum, and Dogecoin spiked despite stock declines. Robinhood settled for $3.9 million with California over cryptocurrency withdrawal issues.

Portfolio Pulse from Akanksha Bakshi

September 05, 2024 | 1:04 pm

CRM

EPAM

SCHW

WYNN

On CNBC's 'Halftime Report Final Trades,' analysts discussed Salesforce, Wynn Resorts, Charles Schwab, and EPAM Systems. Salesforce reported strong earnings, Wynn Resorts missed estimates, Charles Schwab was rated 'Outperform,' and EPAM Systems announced an acquisition.

Portfolio Pulse from Avi Kapoor

September 05, 2024 | 12:54 pm

BAC

FTXO

KBWB

Bank of America is making a significant investment in carbon capture technology, investing $205 million in exchange for tax credits from Harvestone Low Carbon Partners. This move is part of a broader strategy to support climate technology and aligns with enhanced tax credits from the 2022 climate law. The investment highlights confidence in the Biden administration's climate policies.

Portfolio Pulse from Lekha Gupta

September 05, 2024 | 12:45 pm

EPAC

Enerpac Tool Group Corp. (NYSE:EPAC) has acquired DTA The Smart Move, S.A., a leader in industrial heavy loads transportation, for €24 million plus a potential earn-out. This acquisition enhances Enerpac's industrial tools strategy and expands its offerings in various markets.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 12:43 pm

BTTR

Better Choice Company (NYSE:BTTR) updates shareholders on its pro-forma balance sheet ahead of its acquisition of SRx Health, reporting an adjusted net tangible book value of $10.9M or $4.07 per share. The acquisition is expected to close in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 12:40 pm

BNY Mellon has announced a definitive agreement to acquire Archer Holdco, a technology-enabled service provider for managed account solutions. This acquisition aims to enhance BNY's capabilities in the managed account ecosystem, leveraging Archer's cloud-based platform.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 12:39 pm

VOXX

VOXX International has sold its domestic accessory business, along with the Jamo and Energy brands, for approximately $28 million. This move is part of VOXX's strategy to streamline its operations and focus on core business areas.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 12:33 pm