Streetbeat News

Acquisitions Mergers

AMD

CSCO

GM

NVDA

SPY

The stock market has rebounded to a resistance zone, with the SPDR S&P 500 ETF Trust (SPY) showing signs of being overbought. AMD is acquiring ZT Systems to enhance its AI strategy, but this move is unlikely to significantly impact Nvidia's market share. General Motors plans to cut 1,000 software jobs, while Cisco announced 4,000 job cuts. Money flows are positive in several major tech stocks, including Nvidia, Apple, and Amazon.

Portfolio Pulse from The Arora Report

August 19, 2024 | 5:29 pm

CVII

Churchill Capital shares rose after announcing the termination of its merger agreement with CorpAcq Holdings.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 4:59 pm

H

JLL

JLL Hotels & Hospitality Group has secured $620 million in acquisition financing for the Hyatt Regency Orlando. The financing was arranged for RIDA Development Corporation and an Ares Management Real Estate fund, with Wells Fargo, Bank of America, and Deutsche Bank providing the loan. The Hyatt Regency Orlando is a large resort with extensive amenities and proximity to major attractions.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 4:57 pm

PTLO

Traders are circulating comments from an M&A blog suggesting that private equity firms might be interested in acquiring Portillo's. This speculation could impact Portillo's stock price.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 4:26 pm

AMD

Advanced Micro Devices, Inc. (NASDAQ:AMD) has announced a $4.9 billion acquisition of ZT Systems, a provider of AI infrastructure. Despite a bullish engulfing pattern indicating potential uptrend, AMD's stock faces resistance at $154.50, a former support level.

Portfolio Pulse from Mark Putrino

August 19, 2024 | 4:09 pm

SPAI

Safe Pro Group Inc (NASDAQ:SPAI) is set to IPO on August 20 on the NASDAQ exchange. The company will offer shares priced between $4.25 and $5.75, with an insider lock-up period of 180 days. Safe Pro Group focuses on acquiring security and protection products.

Portfolio Pulse from Benzinga Insights

August 19, 2024 | 3:00 pm

LFSWF

Lifeist Wellness (OTC:LFSWF) has acquired 4871 Ontario Corp., marking a reversal from its plan to exit the cannabis industry. The acquisition includes vaporizer technology and a pending patent application, offering potential growth in the high-potency cannabis concentrates market.

Portfolio Pulse from Nina Zdinjak

August 19, 2024 | 2:29 pm

ABIO

ARCA Biopharma Inc (NASDAQ:ABIO) shares rose by 12.5% following the announcement of a special dividend of $1.59 per share related to its merger with Oruka Therapeutics. The dividend is contingent on shareholder approval of the merger, with key dates set for August 22 and August 29.

Portfolio Pulse from Henry Khederian

August 19, 2024 | 2:28 pm

ERIC

IDGT

SIXG

Ericsson has agreed to sell its subsidiary iconectiv to Koch Equity Development LLC, expecting a $1 billion cash benefit. The deal is anticipated to close in the first half of 2025, pending regulatory approvals. Ericsson's shares rose by 1.13% following the announcement.

Portfolio Pulse from Lekha Gupta

August 19, 2024 | 2:24 pm

RYAN

Ryan Specialty has signed a definitive agreement to acquire Greenhill Underwriting Insurance Services. The terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 1:45 pm