Streetbeat News

Acquisitions Mergers

DELL

F

MTTR

NXT

OKTA

Jim Cramer recommended buying Dell Technologies Inc. (DELL), praising it as a good stock to own. He also highlighted Okta, Inc. (OKTA) as 'terrific' and advised buying more Nextracker Inc. (NASDAQ:NXT). Cramer suggested a buyback from Ford Motor Company (NYSE:F) for improvement and recommended selling Matterport, Inc. (NASDAQ:MTTR) shares. Dell is expanding its edge partner ecosystem, Ford is recalling Maverick vehicles, Okta is set to release financial results, and Nextracker will announce its financial results soon. Matterport's acquisition by CoStar Group led to a cancellation of its earnings call.

Portfolio Pulse from Avi Kapoor

May 02, 2024 | 1:00 pm

GOOGL

MSFT

An internal Microsoft email revealed concerns about lagging behind Google's AI capabilities, prompting investment in OpenAI. The email, part of a Justice Department antitrust case, highlights Microsoft's efforts to catch up in AI technology. Microsoft's CEO Satya Nadella emphasized the investment was aimed at broader innovation, not just search. The case sheds light on the competitive AI landscape, with Microsoft leveraging OpenAI's technology to enhance its products and Google facing challenges with its AI chatbot, Bard.

Portfolio Pulse from Ananya Gairola

May 02, 2024 | 12:53 pm

CB

Chubb (NYSE:CB) faces a record shipping insurance loss with a $350 million payout due to the Baltimore bridge collapse. This incident could lead to total insurance costs of $4 billion, marking a significant event in shipping insurance history. The collapse, caused by a Singapore-flagged container ship, has disrupted supply chains and prompted investigations into the ship's operations.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 12:50 pm

SOWG

Sow Good Inc. (NASDAQ:SOWG), a leader in the freeze dried candy sector, announced a public offering of 1.2M shares at $10/share, aiming to raise $12M. The offering coincides with its Nasdaq uplisting, with trading starting May 2, 2024. Proceeds will fund corporate expansion, sales growth, and debt reduction. Roth Capital Partners and Craig-Hallum are managing the offering.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:43 pm

YYGH

YY Group Holding Limited (NASDAQ: YYGH), a company specializing in intelligent labor matching services and smart cleaning solutions, has announced its strategic entry into Vietnam's hospitality industry, projected to be worth $5.16 billion in 2024. Leveraging its technology and digital platform, YYGH aims to supply skilled manpower to Vietnam's hospitality sector, building on its success in Singapore and Malaysia. The YY Circle Super App, with 400,000 downloads and 150,000 active users, facilitates this expansion. Vietnam's hospitality market is expected to reach $9.91 billion by 2029, offering significant growth potential for YYGH.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:39 pm

DOW

Dow (NYSE:DOW) has agreed to sell its flexible packaging laminating adhesives business to Arkema for $150 million, approximately 10 times its forecasted 2024 EBITDA. This sale includes five manufacturing sites across Italy, the United States, and Mexico. The transaction, expected to close by the end of 2024, aligns with Dow's strategy to focus on core, high-value businesses and supports its Decarbonize & Grow and Transform the Waste strategies. Dow will retain its water-based and acrylic adhesives businesses, aligning with its market growth strategies.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:23 pm

DUOT

Duos Technologies Group, Inc. (NASDAQ:DUOT) has been granted a new patent for its railcar inspection technology, enhancing railcar inspection processes with AI and Machine Vision. This technology allows for efficient, automated inspections, potentially reducing the need for certain Federal Railroad Administration mandated inspections. The technology is already in use across North America, with plans for further expansion. This patent, along with a recent rail safety AI patent, positions Duos as a leader in railcar inspection innovation.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:13 pm

ALKS

NVO

Alkermes has finalized the sale of its development and manufacturing facility in Athlone, Ireland, to Novo Nordisk. The deal, previously announced, concludes with Alkermes receiving a one-time cash payment of approximately $91 million.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:04 pm

VSTO

Vista Outdoor's brand Revelyst has sold RCBS, a California-based reloading brand, to Hodgdon Powder. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:02 pm

SLND

Southland's subsidiaries, Oscar Renda Contracting and Southland Contracting, have secured three new water resource projects worth around $150M, to be included in the Q2 2024 backlog.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:00 pm