Streetbeat News

Acquisitions Mergers

BDRX

Biodexa Pharmaceuticals PLC has entered into an exclusive worldwide license with Rapamycin Holdings Inc. (Emtora Biosciences) for eRapa, a Phase 3 ready asset for treating Familial Adenomatous Polyposis (FAP). The deal includes $17 million in non-dilutive grant funding from the Cancer Prevention and Research Institute of Texas for a pivotal Phase 3 trial. eRapa, a proprietary oral tablet formulation of rapamycin, aims to delay or prevent surgery in FAP patients and has potential in other cancers. Phase 2 results are expected in Q2 ‘24, with ongoing studies in bladder cancer.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:34 pm

BHP

Elliott Investment Management has acquired a $1 billion stake in UK-listed miner Anglo American Plc, now among its top 10 shareholders. This move comes as Anglo American received a takeover approach from BHP Group Ltd., an Australian mining giant. The stake was accumulated over recent months by the activist hedge fund led by Paul Singer.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:28 pm

BSY

GME

KMB

SGH

Insiders at GameStop, SMART Global Holdings, Kimberly-Clark, and Bentley Systems have recently sold shares. These sales occur amidst various company-specific news, such as financial results and potential acquisition discussions. Insider sales can indicate personal financial decisions or views on the company's valuation but are not the sole factor for investment decisions.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:25 pm

GOOG

SLCA

SNAP

Snap Inc. (SNAP) shares surged 31% following better-than-expected Q1 results and optimistic Q2 revenue guidance, alongside a rise in daily active users. U.S. Silica Holdings (SLCA) shares increased by 21% after Q1 financial results and an acquisition announcement by Apollo funds. Alphabet Inc. (GOOG) shares rose 16% after a board authorization for an additional $70B share repurchase and multiple firms upgrading their price targets.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:24 pm

CSE:MOC

TSXV:CBAR

Castlebar Capital Corp. (TSXV:CBAR) has signed a letter of intent with Mosaic Minerals Corporation (CSE:MOC) to potentially acquire up to a 100% interest in the Lichen Project, aiming to make this acquisition its Qualifying Transaction under the TSX Venture Exchange's Capital Pool Company program. The Lichen Project, located near the Chibougamau mining camp, spans 15,622 hectares and is noted for its gold and copper prospects. The acquisition terms include cash payments, share issuances, and qualifying expenditures on the property. Castlebar also plans a private placement to raise at least $850,000 for the project's phase one work and general expenses, alongside a proposed stock split. The completion of this transaction is contingent upon several conditions, including due diligence, Exchange acceptance, and the successful execution of a definitive option agreement.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:20 pm

AZN

BSX

ELV

FUSN

Four health care stocks, Fusion Pharmaceuticals Inc. (FUSN), AstraZeneca PLC (AZN), Boston Scientific Corporation (BSX), and Elevance Health, Inc. (ELV), are identified as overbought based on their RSI values, indicating potential short-term price declines. FUSN's significant gain is due to AstraZeneca's acquisition offer, while AZN, BSX, and ELV have shown strong performance based on recent financial results.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:09 pm

EIPX

KEAT

TTE

TotalEnergies SE (NYSE:TTE) reported a mixed quarter with an adjusted EPS of $2.14, down 18% Y/Y but beating consensus estimates. Hydrocarbon production slightly fell, and adjusted operating income and EBITDA saw declines across segments. The company announced a dividend increase, a share repurchase program, and anticipates stable production and refinery utilization rates for the next quarter. TotalEnergies also acquired a 50% stake in SapuraOMV Upstream Sdn for $530 million. Investors can gain exposure to TTE through EIPX and KEAT ETFs. TTE shares are down 0.41% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 26, 2024 | 12:08 pm

ICLK

iClick Interactive Asia Group Limited (NASDAQ:ICLK), a leading enterprise and marketing cloud platform in China, announced the termination of its merger agreement with TSH Investment Holding Limited and TSH Merger Sub Limited. Despite confirming readiness for closing, the merger was not completed within the agreed timeframe, leading iClick to terminate the agreement and demand a US$1,800,000 termination fee.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:04 pm

SLCA

U.S. Silica Holdings' stock is trading higher following the announcement of its Q1 financial results and the news that it will be acquired by funds managed by affiliates of Apollo.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:00 pm

OPRX

OptimizeRx Corporation (OPRX) forecasts a significant revenue increase of over 40% YoY for 1Q24, expecting to achieve $18.5M-$19.2M, surpassing the $17.03M estimate. This growth is attributed to strong organic growth from its Dynamic Audience Activation Platform (DAAP) and the acquisition of Medicx Health in October 2023. The company also reports progress in commercial integration and cross-selling activities with Medicx, highlighting a potential $2.8 billion opportunity with existing brands. Despite the revenue growth, OPRX anticipates a GAAP net loss and Adjusted EBITDA loss for the quarter.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:37 am