Streetbeat News

Acquisitions Mergers

AIQ

AVEM

BABA

BIDU

NVDA

Alibaba and Baidu are investing in Horizon Robotics' $700M IPO, highlighting their confidence in the autonomous driving market. The funds will primarily support R&D. Alibaba's cloud unit is collaborating with Nvidia to enhance autonomous driving tech.

Portfolio Pulse from Anusuya Lahiri

October 16, 2024 | 3:27 pm

ACB

Aurora Cannabis Inc. has launched a new range of THC oil products in Australia, in collaboration with MedReleaf Australia. These products offer various cannabinoid ratios to cater to diverse patient needs. This move is part of Aurora's strategic expansion into international markets, following its acquisition of MedReleaf Australia.

Portfolio Pulse from Jelena Martinovic

October 16, 2024 | 2:54 pm

TAP

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) has launched a series of fall-themed craft beers through its various beverage brands, following its acquisition of four craft breweries from Molson Coors Beverage Company (NYSE:TAP). The company is expanding its presence in the U.S. market with these new offerings and a strategic focus on cannabis and beverage industries.

Portfolio Pulse from Jelena Martinovic

October 16, 2024 | 2:44 pm

AMD

INTC

IVV

QCOM

VOO

Intel's stock is under pressure due to Qualcomm's postponed strategic offer and a cybersecurity probe by China. Qualcomm's potential acquisition of Intel faces antitrust scrutiny, while Intel struggles with market share loss and AI transition. Intel's stock is down 3.3%.

Portfolio Pulse from Anusuya Lahiri

October 16, 2024 | 2:42 pm

SPHR

Sphere Entertainment Co. (NYSE:SPHR) is expanding its global presence by building a new venue in Abu Dhabi, marking its second location after Las Vegas. This expansion aligns with Abu Dhabi's Tourism Strategy 2030. The company operates a franchise model, and the new venue is expected to boost tourism and cultural innovation in the region. Analyst David Karnovsky from JPMorgan recently upgraded Sphere's stock, citing undervaluation and international franchising opportunities.

Portfolio Pulse from Erica Kollmann

October 16, 2024 | 2:21 pm

AAPL

MSFT

NVDA

Generative AI startups are capturing 40% of venture capital investments in the cloud sector, as major tech companies like Apple, Microsoft, and Nvidia race towards a $4 trillion valuation. The cloud industry sees a 27% annual increase in funding, driven by AI advancements.

Portfolio Pulse from Pooja Rajkumari

October 16, 2024 | 1:46 pm

NCNC

Noco-noco has acquired X-SEPA technology production equipment valued at approximately $9 million. The acquisition was made in exchange for issuing around 90 million new shares at a reference price of $0.10 per share.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 1:08 pm

TCEHY

Tencent and the Guillemot family are considering a joint buyout of Ubisoft, which has seen its share price fall due to poor sales and delays. Tencent holds 9.2% of Ubisoft's voting rights, while Guillemot holds 20.5%. The potential buyout could stabilize Ubisoft's market position.

Portfolio Pulse from The Bamboo Works

October 16, 2024 | 1:06 pm

BLCN

BYON

ONLN

TCS

The Container Store (TCS) shares surged in premarket trading after announcing a $40 million investment from Beyond, Inc. (BYON) as part of a strategic partnership. This collaboration aims to enhance customer experience and boost traffic for TCS's core offerings. Beyond will gain approximately 40% ownership of TCS's common equity, contingent on certain conditions.

Portfolio Pulse from Nabaparna Bhattacharya

October 16, 2024 | 12:59 pm

ALK

Alaska Airlines is enhancing its Mileage Plan for 2025 by introducing new perks, faster elite status earning, and expanded options for earning and redeeming miles. Additionally, Alaska Airlines and Hawaiian Airlines are merging, resulting in a single loyalty program.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 12:21 pm