Streetbeat News

Acquisitions Mergers

AKLI

Akili is exploring potential strategic alternatives to enhance shareholder value, which may include partnerships, a sale, or other options. This decision reflects the company's commitment to maximizing its assets and strategic position.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:24 pm

KRMD

KORU Medical Systems, Inc. (KRMD) has signed a Phase III clinical supply agreement for a novel enzyme replacement therapy aimed at treating a rare endocrinological disease. This marks a significant milestone in the collaboration announced in July 2023, with the KORU Medical Freedom System passing validation testing for subcutaneous infusion administration of the drug. The Phase III trial will evaluate bi-weekly infusions using the Freedom System. The drug has received Breakthrough Therapy, Rare Pediatric Disease, and Fast Track designations by the FDA, along with Orphan Drug designation in the US and Europe.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:22 pm

VSEC

VSE Corporation (NASDAQ:VSEC) has initiated an underwritten public offering of its common stock, with the intention to use the proceeds for repaying outstanding borrowings, including those for the acquisition of Turbine Controls, Inc., and for general corporate purposes. The offering includes a 30-day option for underwriters to purchase an additional 15% of the shares.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:18 pm

AMC

GME

PARA

Stock indexes closed higher, reversing from a premarket drop. 'Meme stocks' like AMC and GME soared, while Paramount (PARA) dropped following reports that Sony is rethinking its bid for the company.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:01 pm

RKDA

Arcadia Biosciences' shares surged following the announcement of the sale of its non-GMO Resistant Starch Durum Wheat trait. This strategic move could potentially streamline the company's operations and focus on its core strengths.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 7:41 pm

UUUU

President Joe Biden signed a law banning enriched uranium imports from Russia, aiming to cut off Moscow's war funding in Ukraine and boost North American uranium miners. Energy Fuels (UUUU) sees this as a step towards reducing dependency on Russian nuclear fuel. The law also unlocks $2.7 billion for the U.S. domestic conversion and enrichment supply chain, indirectly benefiting domestic miners.

Portfolio Pulse from Matt Whittaker

May 14, 2024 | 7:07 pm

MDT

PODD

Blue Orca Capital released a report shorting Insulet Corporation (PODD) and favoring EOFlow after a court ruling ended Insulet's injunction against EOFlow, threatening Insulet's monopoly in the automated insulin delivery systems market. The ruling allows competition and could significantly impact Insulet's market position and share price, which is anticipated to drop over 15%. Conversely, EOFlow's stock value is expected to see a resurgence. Insulet had previously reported strong Q1 earnings, but the court's decision introduces uncertainty into its future performance.

Portfolio Pulse from Vandana Singh

May 14, 2024 | 6:44 pm

ALAB

QCOM

The AI industry is poised for a wave of mergers and acquisitions (M&A) as companies running low on funds look for exits, with Astera Labs' recent IPO being an exception. Hugging Face's CEO highlighted the risky bets and financial struggles within the sector. The lack of widespread AI application and high operating costs are pushing smaller firms towards consolidation with larger entities. Qualcomm is participating in an upcoming AI summit, indicating interest in the evolving AI landscape. OpenAI's release of GPT-4o suggests advancements in AI technology, while the overall M&A activity in AI has already exceeded last year's total, with $35 billion spent across 104 deals.

Portfolio Pulse from Natan Ponieman

May 14, 2024 | 6:31 pm

PARA

Paramount shares are trading lower after a CNBC report indicated that Sony is reconsidering its bid for the company.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 6:04 pm

PARA

SONY

Sony is reportedly reconsidering its bid for Paramount, according to CNBC. This development could have significant implications for both companies' strategic directions and market positions.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 6:03 pm