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Acquisitions Mergers

ECLN

PUI

WEC

WEC Energy Group, Inc. (NYSE:WEC) shares rose after announcing the acquisition of a 90% stake in the Delilah I Solar Energy Center for $459 million. The 300-megawatt project, part of the Samson & Delilah solar portfolio, is located near Dallas, Texas, with operations expected to start by end of June. This acquisition underscores WEC's commitment to investing in clean energy. The company is also set to release its first-quarter FY24 earnings on May 1. Investors can also gain exposure to WEC through Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) and First Trust EIP Carbon Impact ETF (NYSE:ECLN).

Portfolio Pulse from Lekha Gupta

April 29, 2024 | 5:13 pm

ADXN

ANVS

CLVR

DCPH

Clever Leaves Holdings Inc. announced its decision to voluntarily delist from Nasdaq, causing a 60% drop in its shares. Other stocks moved significantly in Monday's session, with Deciphera Pharmaceuticals surging 73% after an acquisition announcement, and various companies like Collective Audience and ImmunityBio also seeing substantial gains. Losers included Annovis Bio, down 57% after disappointing trial results, and Addex Therapeutics, falling 48.8% due to a failed epilepsy study.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 5:04 pm

CSLR

Complete Solaria, Inc. (NASDAQ:CSLR) announced T.J. Rodgers as the new CEO, succeeding Chris Lundell. Rodgers plans to leverage his experience in fundraising and M&A to guide the company through its financial challenges, including a significant reduction in quarterly operating expenses and addressing quality issues. The company faces pressure from its private equity debt holders, particularly Carlyle, which Rodgers criticizes for their detrimental financial tactics. Complete Solaria also promoted Brian Wuebbels to COO. Rodgers aims to convert debt to equity to alleviate financial strain and criticizes Carlyle's approach to business and its impact on companies and communities.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:48 pm

Coca-Cola is reportedly preparing for an Initial Public Offering (IPO) of its African bottling division, valued at approximately $8 billion, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:31 pm

AAPL

BIDU

TSLA

Tesla's stock jumps $20 on China's in-principle approval of Full Self Driving, partnering with Baidu, lifting both TSLA and AAPL stocks. Apple's risk in China is reduced, but faces increased regulatory pressure in Europe. Japan's forex intervention boosts market sentiment. Early trade money flows are positive for AAPL, AMZN, TSLA; neutral for MSFT, NVDA; negative for GOOG, META; mixed for SPY, QQQ. Gold, oil, and bitcoin markets are also discussed, with investment strategies suggested.

Portfolio Pulse from The Arora Report

April 29, 2024 | 4:28 pm

BHP

VALE

Brazilian authorities are pressing Vale and BHP to increase their settlement offer for the Mariana disaster to 137 billion reais. A final deal is expected in the first half of 2024, according to the Minas Gerais state top prosecutor.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:17 pm

DCPH

Deciphera Pharmaceuticals Inc (NASDAQ:DCPH) stock soared after ONO Pharmaceutical announced its acquisition of Deciphera for $25.60 per share in cash, totaling $2.4 billion. This acquisition highlights Deciphera's specialized kinase drug discovery, commercial platforms in the US and Europe, and a pipeline of cancer drugs including QINLOCK. The purchase price is a 74.7% premium over Deciphera's closing share price on April 26, 2024.

Portfolio Pulse from Vandana Singh

April 29, 2024 | 4:17 pm

CLVR

DCPH

DPZ

PHG

SOFI

Domino's Pizza Inc reported better-than-expected Q1 earnings with a 6% sales growth and EPS of $3.58. Deciphera Pharmaceuticals shares surged 72% after an acquisition announcement by ONO Pharmaceutical. Collective Audience shares doubled following a strategic partnership with Insticator. Philips gained 29% after settling litigation and posting strong earnings. Conversely, Clever Leaves announced a voluntary Nasdaq delisting, causing shares to drop 62%. Addex Therapeutics and SoFi Technologies also saw significant declines after disappointing news. Oil prices fell by 1.2%, while gold and silver saw slight increases.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 4:03 pm

HTLF

UMBF

UMB Financial Corporation (NASDAQ:UMBF) shares fell after announcing its largest acquisition in history, buying Heartland Financial USA Inc. (NASDAQ:HTLF) for $2.0 billion in an all-stock deal, alongside pricing an underwritten offering and reporting higher-than-expected Q1 FY24 earnings. The deal will significantly expand UMB's assets and customer base, expected to close in Q1 2025. UMB also announced a share repurchase program and a quarterly dividend. Despite strong Q1 results, UMBF shares dropped 4%, while HTLF shares surged 19%.

Portfolio Pulse from Lekha Gupta

April 29, 2024 | 3:52 pm

PARA

Skydance has proposed a revised deal to merge with Paramount, offering a $3 billion cash infusion to help pay down debt and buy back stock. This move aims to appease investors and secure a merger with Paramount, which has been under consideration for sale by its controlling shareholder, Shari Redstone. The investment would come from RedBird and David Ellison's family, enhancing the terms for Paramount shareholders.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:45 pm