Streetbeat News

Acquisitions Mergers

UBER

Klarna, a Swedish fintech company, has announced a significant global partnership with Uber, integrating its payment options into the Uber and Uber Eats apps in the U.S., Germany, and Sweden. This collaboration, one of Klarna's most notable merchant agreements, comes as Klarna prepares for a potential IPO, rumored to value the company at over $20 billion. The deal allows users to pay instantly or bundle purchases into a single payment, excluding Klarna's popular installment plans. Klarna's move to secure big pre-IPO merchant wins follows a challenging period where it saw a significant valuation drop, but it has recently reported a quarterly profit for the first time in four years.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:14 pm

MDAI

Spectral AI has appointed Erich Spangenberg as the CEO of its IP-focused subsidiary, Spectral IP, and is considering a potential spin-off of this subsidiary. The move aims to enhance the subsidiary's focus on intellectual property and explore strategic options that could benefit Spectral AI's shareholders.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:13 pm

RENB

Renovaro Inc. (NASDAQ:RENB) is set to acquire 100% ownership of Cyclomics, enhancing their partnership in cancer diagnostics. This move aims to leverage Cyclomics' ultra-sensitive molecular biology and Renovaro's AI-driven diagnostics to advance cancer detection and treatment monitoring. The collaboration benefits from relationships with Oxford Nanopore and Nvidia, promising to position RenovaroCube as a leader in the field. The acquisition, initially for 75%, now includes the remaining 25% of Cyclomics, indicating the success of their partnership and the potential to transform patient care with high accuracy in non-invasive early cancer detection.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:01 pm

AMZN

GOOG

NVDA

TSLA

Tesla Inc plans to install 85,000 Nvidia Corp H100 chips by year-end to train its AI models, potentially becoming Nvidia's largest customer, surpassing Amazon and Alphabet's Google. This move is part of Elon Musk's AI initiatives, including the development of robots and a supercomputer. Nvidia, facing a significant stock value drop due to market conditions, remains a leader in the accelerator market. Tesla's stock saw an 11.40% increase in premarket trading.

Portfolio Pulse from Anusuya Lahiri

April 24, 2024 | 12:48 pm

AMZN

VCR

XLY

Amazon is expanding its cloud computing division, AWS, in Southeast Asia with new cloud regions to meet customer demands for local data storage and protection. This move is in response to the needs of startups, large enterprises, and government agencies for local technological deployments. Amazon's AWS leads the global cloud service market with a 31% share. The company announced a significant investment in Malaysia and plans for a new region in Thailand. Analysts are optimistic about Amazon's growth in AWS, advertising, and retail, highlighting its leading position in generative AI and potential market outperformance.

Portfolio Pulse from Anusuya Lahiri

April 24, 2024 | 12:44 pm

ISRL

Israel Acquisitions Corp (ISRL) and Pomvom have confidentially submitted a draft registration statement to the SEC and amended their business combination agreement. The completion of this proposed business combination is contingent upon approval from both companies' stockholders, the SEC's declaration of the registration statement's effectiveness, certain regulatory approvals, and Nasdaq's approval to list the securities of the combined entity.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 12:34 pm

DOOR

Masonite International Corporation (Masonite) has entered into an Asset Purchase Agreement to sell its Architectural Business for about $75 million, expecting to complete the sale in Q2 2024. This deal will lead Masonite to record a net non-cash impairment charge in the range of $90M-$100M during the same quarter, with no anticipated future cash expenditures. The final impairment charge may vary based on several factors including indemnification liabilities, foreign exchange rates, and the working capital of the Architectural Business at the transaction's close.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 12:31 pm

DOOR

Masonite International Corporation has agreed to sell its Architectural reporting segment for approximately $75 million, with the transaction expected to close in the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 12:27 pm

AVGO

CASY

EPD

LNG

PBR

RXRX

Jim Cramer shared his views on several stocks on CNBC's 'Mad Money Lightning Round,' recommending selling Petrobras (PBR) and buying Enterprise Products Partners (EPD), Cheniere Energy (LNG), Recursion Pharmaceuticals (RXRX), Casey's General Stores (CASY), and Broadcom (AVGO). Analysts have recently updated their price targets for EPD, CASY, and RXRX, while critics have raised concerns about Broadcom's cloud licensing practices.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 12:15 pm

ENPH

EQX

TSLA

Tesla shares surged over 10% in pre-market trading despite weaker-than-expected Q1 earnings, attributed to plans for accelerating new model launches. Other stocks showed significant movement in pre-market trading, with notable gainers including Chicken Soup for the Soul Entertainment and Zapata Computing, and losers like Evotec SE and Enphase Energy reporting disappointing results.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 12:09 pm