Streetbeat News

Acquisitions Mergers

APD

Air Products (APD) has received funding from the Ministry of Economic Affairs, Industry, Climate Protection and Energy of North Rhine-Westphalia to build two hydrogen refueling stations in Duisburg and Meckenheim, Germany. These stations, part of a European network, aim to support zero-emission fleets by providing low-carbon energy for heavy-duty vehicles. This initiative aligns with North Rhine-Westphalia's goals to decarbonize heavy-duty transportation and expand its hydrogen infrastructure.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 2:09 pm

MRNS

NMTR

TSLA

The article covers a range of topics from cryptocurrency developments, including Dogecoin's potential bull market milestone and regulatory approval for Bitcoin and Ethereum ETFs in Hong Kong, to significant movements in the US stock market with mentions of specific companies like Marinus Pharmaceuticals and Neumora Therapeutics. It also touches on US and world politics, the US economy, tech industry updates including Apple and Nvidia, electric vehicle news with a focus on Tesla's layoffs and competition from Hyundai and Nio, consumer market moves, communication sector challenges for Elon Musk, industrial sector deals, and a general note on Elon Musk's past.

Portfolio Pulse from Akanksha Bakshi

April 15, 2024 | 1:58 pm

NVDA

SSNLF

TSM

The U.S. government is awarding Samsung Electronics up to $6.4 billion to expand its chip-making operations in Taylor, Texas, as part of an initiative to boost semiconductor manufacturing in the U.S. This grant will support Samsung in increasing its investment in the region to about $45 billion, enabling the construction of a second chip-making factory and an advanced chip-packaging facility. The effort aligns with the 2022 Chips Act's objectives and aims to restore the U.S.'s prominence in the global semiconductor industry. Additionally, Nvidia supplier TSMC has increased its U.S. investment to $65 billion, supported by a federal grant and loans, to produce advanced 2-nanometer chips.

Portfolio Pulse from Anusuya Lahiri

April 15, 2024 | 1:57 pm

GS

MRX

Marex Group plc has initiated an IPO of 15,384,615 ordinary shares, priced between $18-$21 each. The shares, representing a mix of new and selling shareholder offerings, are expected to list on the Nasdaq under the symbol 'MRX'. Barclays, Goldman Sachs, Jefferies, and Keefe, Bruyette & Woods lead the offering, with Citigroup, UBS, Piper Sandler, and HSBC as bookrunners, and Drexel Hamilton and Loop Capital as co-managers.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 1:23 pm

BLKB

Blackbaud (NASDAQ:BLKB) has received an unsolicited proposal from Clearlake Capital Group to acquire all outstanding shares for $80.00 per share in cash. The Blackbaud Board of Directors is evaluating the proposal to determine the best course of action for the company and its stockholders.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 1:22 pm

APG

APi Group Corporation (NYSE:APG) is set to acquire Elevated Facility Services Group for approximately $570 million in cash, aiming to expand its safety services market. The acquisition, expected to close in Q2 2024, is anticipated to add $220 million in annual revenue and be accretive to adjusted earnings per share. APi has revised its Q1 FY24 revenue outlook upwards and expects increased adjusted EBITDA and free cash flow. APG shares closed down 2.08% at $38.56.

Portfolio Pulse from Shivani Kumaresan

April 15, 2024 | 1:22 pm

DJT

Trump Media & Technology Group Corp (NASDAQ:DJT) shares fell after announcing the potential issuance of up to 21.49 million shares and the sale of up to 146.1 million shares by certain stockholders. The company reported a $58.19 million net loss for 2023, with revenues of $4.13 million and warned of continued losses in 2024. This follows the company's recent Nasdaq listing after merging with Digital World.

Portfolio Pulse from Adam Eckert

April 15, 2024 | 1:18 pm

NVAX

Novavax Inc (NASDAQ:NVAX) shares rose after Shah Capital Management disclosed a 6.66% stake and nominated two directors for its board, criticizing the company's performance and suggesting strategic changes to improve business and share price.

Portfolio Pulse from Adam Eckert

April 15, 2024 | 1:14 pm

TRNS

Transcat, Inc. (NASDAQ:TRNS) has acquired Becnel Rental Tools LLC for $50M, aiming to expand its higher margin rental business. The acquisition, paid with $32.5M in company stock and $17.5M in cash, brings Becnel's expertise in rental tools for oil well decommissioning and maintenance into Transcat's portfolio. This move is expected to enhance Transcat's gross and EBITDA margins, offer cross-selling opportunities, and support future growth in the decommissioning sector.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 1:13 pm

SATL

Satellogic Inc (NASDAQ:SATL) shares surged after announcing its subsidiary, Nettar Group, Inc., entered a note purchase agreement with Tether Investments Limited for $30 million in floating rate secured convertible promissory notes. The deal, which could expand to $50 million, aims to support Satellogic's mission to democratize geospatial data access. SATL shares rose 15.7% to $1.76 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 15, 2024 | 1:05 pm