Streetbeat News

Acquisitions Mergers

GLPG

Ecor1 Capital has acquired a 9.9% stake in Galapagos NV, viewing the company as undervalued and planning to influence its strategic direction. Galapagos has faced challenges with R&D and partnerships, but recent FDA clearance for a study offers potential. GLPG stock rose 10.4% on the news.

Portfolio Pulse from Vandana Singh

August 26, 2024 | 4:38 pm

BGLC

BioNexus Gene Lab Corp. (NASDAQ:BGLC) has completed a strategic investment of approximately $228K in Ascension Innovation Sdn Bhd, a Malaysian healthcare technology firm. This investment enhances BGLC's commitment to AI-driven healthcare solutions and provides a significant equity stake in AISB.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 4:20 pm

NCBDY

Bandai Namco's European CEO, Arnaud Muller, predicts 2024 as a stabilization year for the gaming industry after recent market corrections. The company reported a 56% profit increase, driven by the Elden Ring expansion, and avoided layoffs due to its diverse business model and cautious M&A strategy.

Portfolio Pulse from Franca Quarneti

August 26, 2024 | 4:17 pm

ALAR

ML

MRM

NSSC

PDD

PWM

U.S. stocks mostly declined with the Nasdaq Composite falling 1%. Notable stock movements included Medirom Healthcare Technologies surging 187% and Alarum Technologies dropping 30%. U.S. durable goods orders increased by 9.9% in July.

Portfolio Pulse from Avi Kapoor

August 26, 2024 | 4:16 pm

PWM

Prestige Wealth Inc (NASDAQ:PWM) shares surged 65% after announcing an acquisition agreement to purchase SPW Global for $4.5 million. The deal aims to enhance PWM's AI capabilities in wealth management, with completion expected in Q4 2024.

Portfolio Pulse from Henry Khederian

August 26, 2024 | 3:28 pm

ABIO

ARCA Biopharma's shares fell following the announcement of a 1-for-12 reverse stock split as part of its proposed merger with Oruka Therapeutics.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 3:14 pm

AAPL

NVDA

SOXX

TDIV

TSM

Taiwan Semiconductor Manufacturing Co (TSM) has received $1.95 billion in subsidies from China and Japan since 2022 to support its overseas investments. The company is expanding in Germany and the U.S., aiming for a long-term gross margin goal of 53%. TSM stock has gained over 82% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

August 26, 2024 | 2:33 pm

PZZA

QSR

Traders are circulating unconfirmed analyst comments suggesting that 3G Capital and Restaurant Brands International might make a bid for Papa John's International.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 2:00 pm

BABA

BIDU

NVDA

Chinese tech giants Alibaba, Tencent, and Baidu have significantly increased their AI investments in 2024, despite US sanctions limiting access to Nvidia's top AI chips. They are focusing on AI infrastructure and acquiring lower-performance Nvidia processors.

Portfolio Pulse from Benzinga Neuro

August 26, 2024 | 1:29 pm

SWAG

Stran & Company, Inc. (NASDAQ:SWAG) has acquired strategic assets of Gander Group, projecting an annualized revenue run rate exceeding $100M. The acquisition was made through a secured party sale and will be managed by Stran's new subsidiary, Stran Loyalty Solutions.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 1:06 pm