Streetbeat News

Acquisitions Mergers

HPQ

PENN

David Einhorn's hedge fund, Greenlight Capital, has confirmed taking new positions in HP Inc (HPQ) and Penn Entertainment (PENN), signaling a strategic move by the hedge fund into these companies.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:26 pm

EHang Holdings Ltd. (NASDAQ:EH) plans to raise up to $100 million through a public offering of its ADS, aiming to fund the mass production of its self-flying aircraft. This move comes as the company progresses towards commercialization, having received necessary regulatory certificates in China. Despite facing a short-selling attack by Hindenburg Research, EHang's revenue surged 165% last year, and it is projected to significantly grow in the coming years, with profitability expected by 2025.

Portfolio Pulse from The Bamboo Works

April 24, 2024 | 4:08 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher after announcing the completion of the first phase of battery line integration at its high energy facility. The company targets the production line start for early 2025, expecting to hire over 200 people. CEO David Michery highlighted the plant's role in strengthening the supply chain and supporting American-made battery components. Mullen also announced the production of its 500th commercial electric vehicle and plans for expansion into Europe and the U.S. Nearly 10 million shares have been traded, with a 25.04% short interest. MULN shares are up 44% at $3.93.

Portfolio Pulse from Erica Kollmann

April 24, 2024 | 4:05 pm

AMST

ATXI

BOF

EDU

EVO

RBBN

U.S. stocks showed mixed performance with the Dow Jones falling over 100 points, while the NASDAQ rose slightly. Consumer discretionary shares led gains, while industrials fell. Ribbon Communications, BranchOut Food, and Amesite saw significant stock price increases following positive news, whereas Evotec, Avenue Therapeutics, and New Oriental Education & Technology experienced declines. Crude oil inventories dropped more than expected, impacting commodity markets.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 4:00 pm

BYD

TSLA

Tesla Inc (NASDAQ:TSLA) reported a significant sales decline and a halved profit but announced plans to accelerate affordable EV production, causing shares to surge almost 10% after-hours. Despite facing stiff competition from BYD Company Limited (OTC:BYD), known as the 'Tesla killer', Tesla is focusing on affordable EVs and AI investments, including a robotaxi reveal planned for August 8. The company's financials for the quarter ended March 31 showed a 9% revenue decline and a 55% net income drop, underperforming LSEG estimates.

Portfolio Pulse from Upwallstreet

April 24, 2024 | 3:49 pm

AMZN

DIS

NKE

PARA

SSP

Caitlin Clark is set to sign a historic $28 million, eight-year shoe deal with Nike, Inc (NYSE:NKE), marking the largest shoe deal in women's basketball history. The deal, which includes a signature shoe line, significantly exceeds her WNBA salary with the Indiana Fever. The endorsement has sparked discussions on pay disparity in sports. Competing brands like Puma, Adidas, and Under Armour (NYSE:UA) also pursued Clark, with Under Armour offering a higher annual rate but for fewer years. The deal positions Clark among a select group of WNBA players with their own signature shoe and is expected to boost Nike's sales. Additionally, Clark's anticipated WNBA debut is set to increase viewership and national broadcast coverage for the Fever's games, potentially benefiting media partners including The Walt Disney Company (NYSE:DIS), E.W. Scripps Company (NASDAQ:SSP), Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA), and Amazon.com Inc (NASDAQ:AMZN).

Portfolio Pulse from Chris Katje

April 24, 2024 | 3:32 pm

EADSY

SPR

Boeing's CEO discussed the Spirit deal during a conference call, emphasizing the company's ability to proceed without complete clarity on Airbus's actions. He encouraged Spirit AeroSystems to enhance its business operations.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 3:19 pm

KMCM

Key Mining Corp (NASDAQ:KMCM) is set to IPO on April 25, 2024, on the NASDAQ exchange, offering shares at $2.25 each with a 180-day insider lock-up period ending on October 22, 2024. The company focuses on developing two projects in the Atacama Region of Chile.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 3:00 pm

SPR

Boeing's CFO announced during a conference call that there are several terms and issues, including price, to be resolved in the ongoing discussions with Spirit AeroSystems regarding a potential deal.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:51 pm

GILD

HOOK

RHHBY

HOOKIPA Pharma Inc (NASDAQ:HOOK) saw its stock rise after receiving FDA clearance for its IND application for HB-700, a vaccine targeting KRAS-mutated cancers. Despite Roche (OTC:RHHBY) ending their collaboration earlier, HOOKIPA will regain full control of the HB-700 program's IP in April 2024. The company also plans to present preclinical data at the ASCO 2024 Annual Meeting. Additionally, HOOKIPA is focusing on its HB-200 program and partnerships with Gilead Sciences Inc (NASDAQ:GILD) for infectious disease cures.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 2:31 pm