Streetbeat News

Acquisitions Mergers

GOOD

Gladstone Commercial Corporation plans to acquire an approximately 142,000 square foot industrial manufacturing facility for about $11.7 million.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:01 pm

REBN

Reborn Coffee Inc. (NASDAQ:REBN) has announced a major expansion into the China market through a Master License Agreement with IAID Co., Ltd. This partnership aims to introduce Reborn Coffee's specialty coffee in China, starting with a flagship location in Guangzhou. The venture plans future expansions in major cities and aims to revolutionize coffee culture in the Guangdong Province.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 12:41 pm

SHOP

SLNH

TRIP

Shopify's shares dropped 19% after Q1 earnings report. TripAdvisor's shares fell 18% as Liberty Tripadvisor and the Special Committee ended talks for a potential transaction. Soluna's shares surged 59% following the launch of an AI Cloud Service in collaboration with a global enterprise GPU-server OEM.

Portfolio Pulse from ryanfaloona@benzinga.com

May 08, 2024 | 12:34 pm

MSFT

President Joe Biden and Microsoft Corp. President Brad Smith are set to announce a $3.3 billion investment in an artificial intelligence data center in Racine County, Wisconsin. This investment is on the same land where a failed tech project by Foxconn, a supplier for Apple, was initially planned. The announcement is part of Biden's efforts to promote bipartisan infrastructure and semiconductor subsidies, aiming to boost domestic manufacturing and investments across the U.S. This move is also seen as crucial for Biden's reelection campaign, especially in the key battleground state of Wisconsin.

Portfolio Pulse from Benzinga Neuro

May 08, 2024 | 12:08 pm

COIN

THCP

Japanese cryptocurrency exchange Coincheck is set to list on the Nasdaq through a merger with SPAC Thunder Bridge Capital Partners IV (THCP), aiming for completion in Q2 or Q3 2024. This move, indicative of the growing mainstream adoption of digital assets, will see Coincheck trading under the ticker symbol 'CNCK'. The merger is expected to enhance Coincheck's global visibility and credibility, positioning it alongside other publicly traded exchanges like Coinbase Inc. (NASDAQ:COIN).

Portfolio Pulse from Murtuza Merchant

May 08, 2024 | 12:08 pm

ALIT

Alight is set to revise its FY24 revenue outlook from the previously announced $3.55B-$3.61B to potentially higher figures after the closure of the Payroll & Professional Services business transaction. The company also anticipates adjusting its EPS guidance of $0.72-$0.77, which is in line with the estimated $0.73. This update comes as Alight reaffirms its mid-term outlook, indicating a positive adjustment post-transaction.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:53 am

TRIP

TripAdvisor shares are trading lower following the announcement that Liberty TripAdvisor and the Special Committee have halted discussions with third parties regarding a potential transaction.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:50 am

BRK

BYDDF

TSLA

Gary Black, a Tesla investor and Future Fund Managing Partner, believes Warren Buffett's Berkshire Hathaway is unlikely to invest in Tesla due to its high valuation and Buffett's preference for value stocks. Black points out that Tesla's estimated earnings per share for 2024 are trading at 70 times, making it an expensive choice for Berkshire. Instead, Buffett's investments in Apple and BYD are highlighted as more aligned with his investment philosophy, with both companies having more reasonable valuations at the time of Berkshire's investment.

Portfolio Pulse from Shanthi Rexaline

May 08, 2024 | 11:40 am

TRIP

Tripadvisor Chair Gregory Maffei announced that Liberty Tripadvisor and a special committee of Tripadvisor have ended discussions with third parties regarding a potential transaction. This indicates that any speculated deal or transaction involving Tripadvisor is currently off the table.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:39 am

SGHC

Super Group has entered into definitive agreements to assume full control of its sportsbook software technology, previously licensed by Apricot, its long-standing software partner. This strategic move aims to consolidate its technology assets and enhance its operational capabilities in the sportsbook sector.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:29 am