Streetbeat News

Acquisitions Mergers

CSCO

GOOG

GOOGL

NVDA

Nvidia-backed AI startup Cohere Inc. has reached a valuation of $5.5 billion after a $500 million Series D funding round led by PSP Investments. New investors include Cisco Systems, AMD Ventures, and Canada's EDC. Cohere focuses on large language models for businesses and has seen its valuation more than double from the previous year.

Portfolio Pulse from Shivani Kumaresan

July 22, 2024 | 5:40 pm

HAS

MAT

Mattel has expressed strong confidence in its standalone strategy, responding to reports of a takeover approach. A spokesperson from Mattel emphasized the company's commitment to remaining independent.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 5:15 pm

MAT

Yahoo Finance Reporter Brian Sozzi posted on X that Mattel is not in any deal talks and has not been approached for any deals.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 5:11 pm

WBD

Warner Bros. Games has announced the acquisition of Player First Games, the developer behind the popular free-to-play platform fighter videogame, MultiVersus. The terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 4:02 pm

CRWD

MIRA

RYAAY

SERV

SVV

TELL

VZ

U.S. stocks showed mixed performance with the Nasdaq Composite gaining over 100 points. Verizon shares fell 6% after Q2 results missed sales estimates. MIRA Pharmaceuticals, Tellurian, and Serve Robotics saw significant gains, while CrowdStrike, Ryanair, and Savers Value Village experienced notable declines.

Portfolio Pulse from Avi Kapoor

July 22, 2024 | 4:00 pm

CXXIF

C21 Investments Inc. (OTCQX:CXXIF) reported its fifth consecutive year of positive free cash flow, despite a slight revenue decline. The company completed a $3.5 million acquisition of a retail cannabis dispensary in South Reno, Nevada, which is expected to drive future revenue growth. Shares of C21 Investments traded down 11% following the announcement.

Portfolio Pulse from Jelena Martinovic

July 22, 2024 | 3:56 pm

HYTN

HYTN Innovations Inc (CSE:HYTN) has acquired Prism Scientific Labs Inc to enhance its psychedelic drug manufacturing capabilities. The acquisition includes exclusive access to Prism's intellectual property and specialized equipment, aimed at increasing the yield and potency of psilocybin-containing mushrooms. HYTN issued 12,100,100 common shares to former Prism shareholders as part of the deal. The integration is expected to advance HYTN's development of psychoactive compounds for clinical applications.

Portfolio Pulse from Juan Spínelli

July 22, 2024 | 3:53 pm

EMBC

Embecta, a leading diabetes device maker, is exploring a potential sale due to slowing profits and a significant drop in share price since its spin-off from Becton Dickinson. The company has hired Centerview Partners to advise on the sale. Embecta's US sales have been impacted by the popularity of GLP-1 drugs like Novo Nordisk's Ozempic. Despite challenges, potential growth opportunities exist in developing markets and new product approvals.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:45 pm

EMBC

Embecta shares are trading higher following a report suggesting the company is exploring a sale.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:44 pm

RCAT

Red Cat Holdings has secured $4.4 million in non-dilutive financing by divesting Unusual Machines. The funds will support the development of drone systems for the U.S. Department of Defense and NATO allies.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:43 pm