Streetbeat News

Acquisitions Mergers

ARCH

CEIX

Arch Resources Inc (NYSE:ARCH) shares are rising after announcing an all-stock merger with CONSOL Energy Inc (NYSE:CEIX) to form Core Natural Resources, a leading coal producer. The merger is expected to close by Q1 2025, with Arch stockholders owning 45% of the new entity.

Portfolio Pulse from Adam Eckert

August 21, 2024 | 3:00 pm

ANCTF

BUD

QSR

STLA

Alimentation Couche-Tard Inc. has proposed a $31 billion buyout of Seven & I Holdings Co, the Japanese owner of 7-Eleven. This acquisition could shift 7-Eleven's ownership from Japan to Canada, making Alimentation Couche-Tard the world's leading convenience store operator. The deal could face regulatory scrutiny due to its scale.

Portfolio Pulse from Chris Katje

August 21, 2024 | 2:48 pm

SMFL

Smart for Life, Inc. (NASDAQ:SMFL) shares surged nearly 98% as the company announced negotiations to acquire four health and wellness companies. These acquisitions are part of Smart for Life's post-restructuring strategy to reach $100 million in revenue through organic growth and M&A initiatives.

Portfolio Pulse from Erica Kollmann

August 21, 2024 | 2:43 pm

ACB

AGFY

CGC

CURLF

MRMD

VFF

The cannabis and psychedelics industries are experiencing significant executive changes. Canopy Growth's CEO David Klein will retire in 2025, while Curaleaf's Boris Jordan will become CEO in 2024. Village Farms extended CEO Michael DeGiglio's contract, and MariMed appointed Mario Pinho as CFO. Several companies, including Aurora Cannabis and Agrify, have made board changes.

Portfolio Pulse from Jelena Martinovic

August 21, 2024 | 2:35 pm

BTCUSD

ETHUSD

TSLA

Bitcoin and Ethereum fell by 2% despite ETF flows, while other cryptocurrencies like Floki and Dogwifhat outperformed. Grayscale appointed Peter Mintzberg as CEO, and Mt. Gox transferred $709M in Bitcoin. In the tech sector, JD.com shares dropped over 7% after Walmart sold its stake. Tesla recalled over 9,000 Model X SUVs due to potential issues with roof trim pieces.

Portfolio Pulse from Akanksha Bakshi

August 21, 2024 | 2:30 pm

EYEN

MYNA

REVB

SDIG

SMFL

STEC

TGT

U.S. stocks rose with the Dow Jones, NASDAQ, and S&P 500 all gaining. Target Corporation reported strong earnings, boosting its stock. Revelation Biosciences, Smart for Life, and Stronghold Digital Mining saw significant stock price increases, while Eyenovia, Mynaric, and Santech Holdings experienced declines.

Portfolio Pulse from Avi Kapoor

August 21, 2024 | 2:29 pm

ON Semiconductor is expanding its supply chain to counter the rise of Chinese chip makers by investing $2 billion in a new plant in the Czech Republic and boosting capacity in South Korea. This move aims to mitigate risks from China's push for local chip suppliers and enhance supply chain resilience.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:42 pm

INTC

NXPI

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) has begun construction on its first European plant in Dresden, Germany, with significant industry support and state subsidies covering nearly half of the $11 billion cost. The plant will focus on automotive and industrial chip production, with TSMC holding a 70% stake and partners like Infineon, NXP Semiconductors, and Bosch each holding 10%. The German government is investing heavily in domestic chip production, including a planned Intel plant. Analysts have a positive outlook on TSMC stock, with a 12-month price target suggesting further upside.

Portfolio Pulse from Anusuya Lahiri

August 21, 2024 | 1:42 pm

EMR

Emerson Ventures, the corporate venture capital arm of Emerson, has made a strategic investment in Symmera, a company focused on device authentication and data protection. Boulder Ventures will co-invest with Emerson.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:32 pm

BNED

IMMR

Immersion Corp (NASDAQ:IMMR) shares surged following strong Q2 results, with revenue jumping to $99.42 million and earnings per share rising to $1.14. The company also acquired a significant stake in Barnes & Noble Education Inc (NYSE:BNED).

Portfolio Pulse from Adam Eckert

August 21, 2024 | 1:28 pm