Streetbeat News

Acquisitions Mergers

PTON

Private equity firms are reportedly considering a buyout of Peloton, as per CNBC. This news could indicate a significant shift in Peloton's business strategy and ownership, potentially affecting its stock price and future operations.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:35 pm

PTON

Private equity firms are reportedly considering a buyout of Peloton, indicating potential acquisition interest in the fitness company.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:35 pm

OCTO

Eightco Holdings Inc. (NASDAQ:OCTO) announced the cancellation of the Forever 8 2022 merger earnout consideration, initially valued at $6.1M with a potential of up to $37M. This cancellation, effective March 17, 2024, is expected to improve the company's shareholder equity by over $7M. CEO Paul Vassilakos emphasized the move strengthens Eightco's balance sheet and capital structure, supporting future growth.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:33 pm

STI

Solidion Technology, Inc. (NASDAQ:STI) introduced its BEEP technology for solid-state batteries, aiming to revolutionize the electric vehicle (EV) industry by solving major design and manufacturing challenges. The BEEP platform enables the production of high-voltage, high-capacity battery packs with reduced weight, volume, and cost by simplifying the battery's structure. This technology is expected to facilitate the commercialization of solid-state batteries, offering advantages such as safety, fast charging, and extended range. Solidion's parent company, Global Graphene Group, has been recognized for its leading position in solid-state battery IP.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:33 pm

SPR

Spirit Aerosystems Holdings' shares dropped following their Q1 financial results announcement. The company has withheld guidance due to uncertainties surrounding Boeing acquisition talks, 737 MAX production, and Airbus negotiations.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:25 pm

IBRX

ImmunityBio, Inc. (IBRX) has completed the drug substance for ANKTIVA, sufficient for 170,000 doses, and announced its GMP fill-finish facility in New York is on track for completion in 12-18 months. This progress, along with a partnership with the Serum Institute of India for BCG availability, positions ImmunityBio for the commercial launch and clinical trials of ANKTIVA. Significant investments have been made in facilities for global capacity, with a California manufacturing plant also nearing completion to support large-scale production.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:19 pm

ODII

POWI

Power Integrations (NASDAQ:POWI) has announced an agreement to acquire the assets of Odyssey Semiconductor Technologies (OTCQB:ODII), a developer of vertical gallium-nitride (GaN) transistor technology. This acquisition is aimed at enhancing Power Integrations' development of high-voltage, high-power GaN technology, supporting its PowiGaN technology roadmap. The transaction is expected to close in July 2024, with key Odyssey employees joining Power Integrations. This move is part of Power Integrations' strategy to achieve cost parity with silicon MOSFETs and expand the voltage and power capabilities of its GaN technology.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:16 pm

AIRE

AMBC

FGF

HIMS

UBS

ZETA

Zeta Global Holdings Corp. (NASDAQ:ZETA) shares surged 15% in pre-market trading after reporting better-than-expected Q1 results and raising Q2 revenue guidance. Other stocks also moved significantly in pre-market trading due to various reasons including earnings reports, acquisitions, and public offerings.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 12:11 pm

GBTG

Global Business Travel Group (GBTG) has reiterated its FY24 revenue guidance of $2.43B-$2.5B, aligning with expectations and aiming for strong profitability growth. The forecast includes an 18%-32% increase in Adjusted EBITDA and over $100M in Free Cash Flow, excluding impacts from the CWT acquisition expected to close in H2 2024.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 11:49 am

CMND

Clearmind (CMND) has secured exclusive global rights to develop, manufacture, and commercialize innovative compounds invented by Professors Rami Yaka, Ahmed Masaewa, and Avi Priel from The Hebrew University.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 11:48 am