Streetbeat News

Acquisitions Mergers

MRNA

MYNZ

PFE

mRNA technology, known for its role in COVID-19 vaccines by Pfizer and Moderna, is now promising breakthroughs in cancer diagnostics and treatment. Mainz Biomed reported significant findings from a clinical study on its ColoAlert® CRC screening test, showing high sensitivity and specificity rates. The study, involving 690 subjects across the U.S. and Europe, used novel mRNA biomarkers and a proprietary AI algorithm. Moderna, in partnership with OpenAI, is advancing mRNA medicine further by integrating AI technologies like a customized version of ChatGPT, mChat, into its operations.

Portfolio Pulse from Upwallstreet

April 29, 2024 | 2:02 pm

ADXN

CLVR

DCPH

DPZ

PHG

U.S. stocks traded higher with the Dow Jones gaining over 100 points. Domino's Pizza Inc reported better-than-expected Q1 earnings with a 6% sales growth and EPS of $3.58, surpassing estimates. Deciphera Pharmaceuticals announced its acquisition by ONO Pharmaceutical, and Koninklijke Philips N.V. reported a $1.1 billion settlement and better than expected earnings. Clever Leaves Holdings announced plans to delist from Nasdaq, and Addex Therapeutics' epilepsy study failed to meet its primary endpoint.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 1:42 pm

AEHL

Antelope Enterprise Holdings Limited (AEHL) announced its plan to launch an energy transmission business, appointing Mr. Huoyou Zhang and Mr. Di Wu to lead the initiative. The business, operated through AEHL US LLC, aims to supply power to a Texas data center and secure hosting sites for cryptocurrency mining, starting operations in Q3 2024. Mr. Qiguo Wang resigned from the Board for personal reasons.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:14 pm

AON

Aon plc reported lower-than-expected Q1 financial results, with earnings and sales missing market estimates. Despite a drop in operating margin, adjusted operating margin and EPS saw improvements. Aon's acquisition of NFP is highlighted as a positive move. Shares fell 6.9% following the announcement. Analysts from Piper Sandler and B of A Securities adjusted their price targets for Aon.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 1:09 pm

HOPE

TBNK

Hope Bancorp, Inc. (HOPE) and Territorial Bancorp Inc. (TBNK) announced a definitive merger agreement, with Territorial shareholders to receive 0.8048 shares of Hope Bancorp stock for each share of Territorial stock, in a deal valued at approximately $78.6 million. The merger aims to create the largest regional bank serving multi-ethnic communities across the continental U.S. and Hawaii, preserving the Territorial Savings Bank brand and expanding the combined company's footprint, diversifying its loan mix, and enhancing its deposit base and customer services. The transaction is expected to close by the end of 2024, subject to regulatory and shareholder approvals, and is anticipated to be immediately accretive to Hope Bancorp's earnings.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:02 pm

CELH

FANG

PGR

PLTR

PXD

SLB

TRV

Jim Cramer recommends buying Diamondback Energy (FANG) and likes Celsius Holdings (CELH), Palantir Technologies (PLTR), and Pioneer Natural Resources (PXD), but is disappointed with Schlumberger (SLB). He prefers The Progressive Corporation (PGR) over The Travelers Companies (TRV). Diamondback received stockholder approval for a transaction with Endeavor Energy Resources. Schlumberger reported a revenue increase, and Celsius plans to expand to France. Palantir formed a partnership with Parexel, and Stifel raised Pioneer's price target.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 12:49 pm

LGVC

Nuvo Group Ltd. and LAMF Global Ventures Corp. I (NASDAQ: LGVC) announced their business combination is expected to close on May 1, 2024. Nuvo, a pioneer in remote pregnancy monitoring, will trade under new ticker symbols 'NUVO' and 'NUVOW' on Nasdaq starting May 2, 2024. This move aims to accelerate Nuvo's market presence, commercial growth, and innovation in pregnancy care. The combination was approved by LAMF's shareholders on April 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:39 pm

BHP

VALE

Vale and BHP, along with their joint venture Samarco, have proposed a $25 billion settlement to Brazilian authorities for the 2015 Mariana disaster reparations. This amount includes $24.88 billion in new payments plus $37 billion reais already disbursed.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:39 pm

LLY

Eli Lilly (LLY) is expected to report Q1 earnings with a significant increase in both earnings per share and revenue compared to the previous year. The company, having recently acquired a manufacturing facility from Nexus Pharmaceuticals, offers a dividend yield of 0.71%. Investors looking to earn a steady income from dividends would need a substantial investment to achieve a monthly return of $500. LLY's stock price increased by 1.2% to close at $733.51 recently.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 12:32 pm

ACN

CAL

Insiders at Philip Morris, Accenture, Electronic Arts, and Caleres have recently sold shares. These sales come amidst various company developments, including earnings reports and acquisitions. Insider sales can indicate various strategic decisions but are not the sole factor for investment decisions.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 12:31 pm