Streetbeat News

Acquisitions Mergers

Kyndryl has announced strategic portfolio optimization moves, including the acquisition of Skytap. No financial terms were disclosed for the transaction, and it is stated to have no impact on Kyndryl's financial outlook for FY25.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:44 pm

OKLO

Oklo shares have seen increased trading activity and volatility following its business combination with AltC Acquisition Corp. and its recent debut on the NYSE. Additionally, Oklo announced a memorandum of understanding (MOU) with Atomic Alchemy to collaborate on isotope production.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:42 pm

ATNM

Actinium Pharmaceuticals, Inc. (ATNM) announced that five abstracts related to its targeted radiotherapies, Iomab-B and Actimab-A, for acute myeloid leukemia (AML) have been accepted for presentation at the 2024 SNMMI Annual Meeting. These therapies have shown improved survival rates in high-risk AML patients, including those with TP53 mutations and prior venetoclax treatment. Additionally, Actinium's novel linker technology is expanding its Antibody Radiation Conjugate pipeline into solid tumor indications.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:38 pm

APO

INTC

Intel is reportedly close to finalizing a deal with Apollo Global Management for an $11 billion partnership in Ireland, according to the Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:36 pm

AMZN

BABA

CGRO

MSFT

NVDA

PGJ

Alibaba Group Holding Limited (NYSE:BABA) is supporting China's generative AI startups by providing cloud credits instead of cash investments, aiming to become a leader in the AI sector. This strategy mirrors Microsoft Corp's (NASDAQ:MSFT) and Amazon.Com Inc's (NASDAQ:AMZN) approaches but with a unique computing-for-equity model. Alibaba has invested in startups like Moonshot and Zhipu, and is leveraging its inventory of Nvidia Corp (NASDAQ:NVDA) GPUs. The company's stock can be accessed through ETFs like Invesco Golden Dragon China ETF (NASDAQ:PGJ) and Tidal Trust II CoreValues Alpha Greater China Growth ETF (NYSE:CGRO).

Portfolio Pulse from Anusuya Lahiri

May 13, 2024 | 12:28 pm

SRE

TTE

UTES

XLU

Sempra (NYSE:SRE) is reconsidering its choice of Bechtel Energy for the Cameron LNG expansion in Louisiana due to rising construction costs. This dispute highlights the broader issue of increasing costs in the U.S. LNG export project sector. Sempra is seeking new bids for the project's engineering, procurement, and construction contractor. The Cameron LNG Phase 2 project involves Sempra LNG, TotalEnergies SE (NYSE:TTE), Mitsui, and Japan LNG Investment LLC. Sempra recently reported Q1 adjusted EPS of $1.34 and sales of $3.64 billion, missing sales consensus. SRE shares dropped 0.36% in premarket trading.

Portfolio Pulse from Lekha Gupta

May 13, 2024 | 12:28 pm

CPTN

Cepton, Inc. (CPTN) has been awarded a $10M engineering services contract by KOITO MANUFACTURING CO., LTD. for the quarter ending June 30, 2024. This contract is to support a major global OEM program that Cepton and Koito have recently secured, marking a significant development in their partnership and Cepton's customer-specific product development for near-range lidar solutions.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:28 pm

BCAL

CALB

Southern California Bancorp (BCAL) and California BanCorp (CALB) have received the necessary regulatory approvals from the Office of the Comptroller of the Currency and the Federal Reserve Bank of San Francisco for their merger. The merger, announced on January 30, 2024, is expected to close in the third quarter of 2024, pending shareholder approvals.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:17 pm

AXTA

Axalta Coating Systems (AXTA) has announced its plan to acquire The CoverFlexx Group from Transtar Holding Company for $285 million, with an additional $10 million earnout based on 2024 performance. The deal is expected to close in the third quarter, pending regulatory approval and customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:15 pm

BHP

BHP Group made a revised proposal for a potential combination with Anglo American, which was subsequently rejected by the Anglo American board.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:12 pm