Streetbeat News

Acquisitions Mergers

CURLF

MSOS

Boris Jordan has announced the acquisition of a company to expand into the European market, focusing on EUGMP certified cannabis flowers and controlling the full supply chain for both flower and product sides. The announcement was made in the context of promoting the Cannabis Capital Conference, which offers live access for both existing and new subscribers.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:19 pm

BNED

CLDI

SKIL

WISA

Skillsoft Corp. shares fell by 26.7% after reporting mixed Q4 results and lower-than-expected FY25 revenue guidance. Other stocks moved significantly in Tuesday's session, with notable gainers including WiSA Technologies and Palisade Bio, and losers like Barnes & Noble Education and Calidi Biotherapeutics.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 6:17 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) has invested $1.5 billion in Abu Dhabi-based AI company G42 to strengthen its AI market position. Despite promising business developments, Microsoft's stock has experienced volatility, with recent fluctuations and a potential to drop to $400. The partnership aims to leverage Azure for AI service development, challenging competitors like Google. Microsoft's stock has seen a 10% increase this year but faced a 1.91% decline to close at $413.64 on April 15.

Portfolio Pulse from Zaheer Anwari

April 16, 2024 | 5:56 pm

NSANY

TSLA

Honda Motor Co Ltd (NYSE:HM) is intensifying its EV efforts in China by launching a new EV brand named Ye and planning to release six next-generation EVs by 2027, aiming for all its China sales to be EVs by 2035. Honda is considering a strategic partnership with Nissan Motor Co Ltd (OTC:NSANY) for key EV components and software. Nissan plans to mass-produce next-generation EV batteries by 2029 and adopt Tesla Inc's (NASDAQ:TSLA) gigacasting manufacturing process. Honda also unveiled its 'Honda 0 Series' EVs for global markets, starting in North America in 2027.

Portfolio Pulse from Upwallstreet

April 16, 2024 | 5:54 pm

BLDP

WBAT

Ballard Power Systems, Inc. (NASDAQ:BLDP) shares are trading lower despite announcing several purchase orders for 70 FCmove-HD hydrogen fuel cell engines from Wrightbus for buses in the U.K. and Europe. Deliveries are expected in 2024 with the buses entering service in 2025. This follows the largest order in the company's history earlier this month, a Long Term Supply Agreement with Solaris Bus & Coach for 1,000 engines through 2027. Investors can also gain exposure to BLDP through the WisdomTree Trust WisdomTree Battery Value Chain And Innovation Fund (BATS:WBAT). BLDP's stock has declined over 45% in the past year.

Portfolio Pulse from Nabaparna Bhattacharya

April 16, 2024 | 5:47 pm

CGEM

Cullinan Therapeutics Inc (NASDAQ:CGEM), previously known as Cullinan Oncology Inc, is shifting its focus from oncology to autoimmune diseases, specifically targeting systemic lupus erythematosus (SLE) with its CLN-978 treatment. The company plans to submit an investigational new drug application for CLN-978 in SLE by Q3 2024 and has raised $280 million through a private placement to fund operations into 2028. William Blair initiated coverage on Cullinan with an Outperform rating and a $35-per-share fair value, highlighting the company's diversified pipeline and strategic flexibility.

Portfolio Pulse from Vandana Singh

April 16, 2024 | 5:32 pm

BAC

DIA

QQQ

SPY

TLT

TSLA

Geopolitical tensions and economic forecasts shape market trends, with mixed performances in U.S. stocks and sectors. The IMF's optimistic U.S. growth projection contrasts with potential Middle East escalations. Treasury yields rise, impacting bond ETFs like TLT. Gold nears record highs, while Bitcoin drops. Key stocks and ETFs like SPY, DIA, QQQ, and sector-specific funds XLV and XLE show varied performances. Companies like TSLA, BAC, MS, and others react to news and earnings, influencing their stock prices.

Portfolio Pulse from Piero Cingari

April 16, 2024 | 5:28 pm

VSTO

CSG addressed Senator J.D. Vance's concerns about its acquisition of The Kinetic Group, formerly Vista Outdoor's Sporting Products business, refuting claims of wrongdoing and ties to Putin's regime. CSG highlighted its support for Ukraine, cooperation with the U.S. military, and partnerships with defense corporations like General Dynamics and Raytheon. CSG emphasized its long-term investment strategy and expertise in the ammunition market, inviting Vance to visit its facilities.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 5:11 pm

MUX

McEwen Mining (MUX) is set to acquire Timberline Resources at a 132% premium, issuing approximately 1.84 million shares for a transaction value of US$18.8 million. Timberline shareholders will receive 0.01 of a McEwen share for each Timberline share, valued at US$0.102 per share based on McEwen's 20-day VWAP as of April 15th, 2024. McEwen already owns 3.3% of Timberline.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:36 pm

BNED

IMMR

IWC

PRFZ

Barnes & Noble Education, Inc. (BNED) shares plummeted after announcing a short-term shareholder rights plan and a new equity investment deal with Immersion Corporation (IMMR) and other partners. The deal, closing in June 2024, will provide BNED with $95 million in new capital, aiming to strengthen its long-term financial position. This includes a $50 million equity investment and a $45 million equity rights offering led by Immersion, netting approximately $75 million after costs and reducing about $34 million of debt. Additionally, BNED plans to refinance its existing asset-backed loan facility, securing a $325 million facility maturing in 2028, and has adopted a short-term stockholder rights plan.

Portfolio Pulse from Lekha Gupta

April 16, 2024 | 4:30 pm