Streetbeat News

Acquisitions Mergers

AEON

MRIN

SGBX

SPT

VAXX

WOW

U.S. stocks saw significant gains with the Dow Jones surging over 400 points following the release of April's job report, which showed a lower-than-expected addition of 175,000 nonfarm payrolls. The unemployment rate slightly increased to 3.9%. Notably, Safe & Green Holdings Corp. (SGBX) shares soared 70% after announcing a delivery to a quick-service restaurant, Vaxxinity, Inc. (VAXX) surged 33% post-delisting announcement, and WideOpenWest, Inc. (WOW) gained 29% after a purchase proposal. Conversely, AEON Biopharma, Inc. (AEON) plummeted 51% due to disappointing trial results, Sprout Social, Inc. (SPT) fell 30% after reporting poor revenue, and Marin Software Incorporated (MRIN) dropped 19% due to a revenue decline.

Portfolio Pulse from Avi Kapoor

May 03, 2024 | 1:44 pm

CGC

Canopy Growth Corporation (CGC) has announced a financing deal with an institutional investor to receive approximately $50 million in gross proceeds and exchange about $20 million of existing debt for a new convertible debenture. The deal includes issuing additional common share purchase warrants and aims to use the proceeds for working capital and general corporate purposes. This move is part of Canopy's strategy to accelerate its entry into the U.S. market, following shareholder approval for the spin-out of Canopy USA.

Portfolio Pulse from Jelena Martinovic

May 03, 2024 | 1:31 pm

CBRL

HTLF

NEE

OMF

SOUN

Jim Cramer discussed various companies on CNBC's 'Mad Money Lightning Round,' expressing skepticism about SoundHound AI due to its lack of profitability and caution about OneMain Holdings due to its riskiness, despite potential benefits from expected Fed rate cuts. He plans to revisit Cracker Barrel, praised General Motors, and endorsed Heartland Financial as a solid regional bank. Cramer was not favorable towards NextEra Energy due to its losses. Notably, OneMain Holdings raised its dividend, and UMB announced plans to acquire Heartland Financial.

Portfolio Pulse from Avi Kapoor

May 03, 2024 | 1:26 pm

PARA

SONY

CNBC's David Faber reported that Paramount's special committee is seriously considering a bid from Sony. This development indicates a potential major move in the media and entertainment industry, which could have significant implications for both companies involved.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:24 pm

ALCC

EQIX

FANG

LEU

The upcoming acquisition of Oklo Inc. by AltC Acquisition Corp. (NYSE:ALCC) is generating significant interest, with comparisons to the DJT stock surge post-merger. Reddit users anticipate a similar 'rocket fuel' rally for ALCC, driven by Sam Altman's involvement and the clean energy focus of Oklo. Oklo has shown strong business momentum, with partnerships and approvals bolstering its position. The special meeting for AltC stockholders to approve the merger is set for May 7, 2024.

Portfolio Pulse from Surbhi Jain

May 03, 2024 | 1:17 pm

GPRE

During a conference call, the CEO of Green Plains stated that the company is still evaluating its strategic options. This indicates ongoing considerations that could involve partnerships, divestitures, acquisitions, or other significant corporate actions.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:13 pm

AAPL

Apple, Inc. (AAPL) reported Q2 earnings that exceeded expectations, with strong guidance for low single-digit growth, a significant $110 billion buyback, and an upcoming AI strategy announcement. Wedbush analyst Daniel Ives highlighted the better-than-expected performance, particularly in China and the Services segment, and anticipates a growth renaissance driven by an AI-driven super-cycle. Ives maintains an Outperform rating and a $250 price target for AAPL, which saw a 6.51% premarket increase to $184.29.

Portfolio Pulse from Shanthi Rexaline

May 03, 2024 | 1:01 pm

ADTX

Aditxt, Inc. (NASDAQ:ADTX) announced a $4.2M private placement priced at-the-market under Nasdaq rules, involving the sale of Series C-1 and D-1 Preferred Stock, and warrants to purchase common stock. The placement, facilitated by Dawson James Securities, aims to fund obligations under a merger agreement with Evofem Biosciences, Inc. and for general corporate purposes. The offering is expected to close by May 6, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:01 pm

CNDT

Conduent announced the sale of its Casualty Claims Solutions business to MedRisk for $240 million in cash, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 12:59 pm

CNDT

Conduent has agreed to sell its Casualty Claims Solutions Business to MedRisk for $240 million in cash. This strategic move allows Conduent to streamline its operations and focus on its core businesses.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 12:53 pm