Streetbeat News

Acquisitions Mergers

BOTZ

NVDA

SMH

Nvidia Corp announced the acquisition of Israeli startup Run:ai for approximately $700M, aiming to enhance AI management capabilities. This marks Nvidia's most significant acquisition in Israel since Mellanox Technologies in 2020. Run:ai specializes in managing AI workloads and will integrate into Nvidia's operations in Israel. Nvidia plans to continue Run:ai's product sales and invest in its roadmap. Nvidia's stock has seen a 204% increase over the last 12 months, partly due to the AI market expansion.

Portfolio Pulse from Anusuya Lahiri

April 25, 2024 | 1:07 pm

TMUS

T-Mobile and EQT have announced a joint venture to acquire Lumos, with T-Mobile investing $950M for a 50% stake and all existing fiber customers. An additional $500M contribution is expected between 2027-2028. This partnership aims to expand broadband services in the U.S. by combining T-Mobile's broadband and wireless capabilities with EQT's infrastructure expertise.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 1:06 pm

EADSY

China is reportedly in discussions to place a significant order with Airbus, potentially involving hundreds of jets, according to Reuters. This move could mark a major deal for Airbus in the competitive aviation market.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 12:52 pm

LRHC

La Rosa Holdings Corp. (NASDAQ: LRHC) has acquired a 51% interest in its franchisee, La Rosa Realty Prestige, which generated $4.7M in revenue and positive net income in 2023. This acquisition is part of La Rosa's strategy to enhance its market position and operational efficiencies, aiming for a $100M annualized revenue run rate by 2024 and profitability by 2025. Prestige ranks second in agent count and third in real estate sales in Polk County, Florida.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 12:45 pm

ASML

INTC

SMH

SOXX

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) announced its A16 chip technology, set to begin production in 2026, aiming to outpace Intel in chip speed. This 1.6-nm technology will compete directly with Intel's advancements and is not expected to require ASML's new lithography tools, unlike Intel's plans. TSMC's focus on AI chip manufacturers as initial adopters, along with a new power delivery technology for AI chips, underscores its strategic positioning in the semiconductor industry. The company reported a 16% revenue increase year-on-year and anticipates significant capital expenditures and revenue growth. TSMC's stock has seen a 62% increase over the past 12 months, with exposure available through ETFs like SMH and SOXX.

Portfolio Pulse from Anusuya Lahiri

April 25, 2024 | 12:44 pm

SPR

Boeing Co. (NYSE:BA) shares dropped following quarterly results, with analyst Brian Langenberg highlighting the importance of a potential Spirit AeroSystems (NYSE:SPR) buyout and a new CEO for recovery. Langenberg maintains a Buy rating on Boeing with a $275 price target, emphasizing the long-term effort required for Boeing's turnaround. The potential acquisition of Spirit AeroSystems and the selection of a CEO focused on engineering and long-term health are seen as critical steps.

Portfolio Pulse from Shanthi Rexaline

April 25, 2024 | 12:35 pm

MGRX

Mangoceuticals, Inc. (NASDAQ:MGRX), specializing in men's health and wellness products, has acquired a global patent portfolio from Intramont Technologies, Inc. for $20M, paid through the issuance of 980K of 6% Series C Convertible Preferred Shares. This portfolio includes patents for an oral solution aimed at combating a range of infections, including the common cold, respiratory diseases, and HPV.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 12:34 pm

CDTX

OPTN

ULBI

Ultralife (ULBI) shares surged 26% following better-than-expected Q1 results. Cidara Therapeutics (CDTX) shares jumped 41% after announcing the divestiture of rezafungin, reacquiring rights to CD388, and securing $240 million in financing. Optinose (OPTN) shares increased 36% with the company expecting positive income from operations by 2025.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 12:31 pm

ACHR

Archer Aviation Inc. has signed a significant agreement with Abu Dhabi to accelerate the commercialization of its air taxi operations in the UAE, including in-country manufacturing and training. The deal, announced at the DRIFTx mobility event, involves multi-hundred-million dollar investments and aims to launch air taxi operations with Archer's Midnight aircraft as early as next year. This partnership with the Abu Dhabi Investment Office (ADIO) also includes the development of vertiports, operational support, and the establishment of Archer's international headquarters in Abu Dhabi.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 12:23 pm

WKSP

Worksport Ltd. (NASDAQ:WKSP, WKSPW) released a memo to shareholders highlighting its undervalued status and projecting significant growth in 2024. The company, specializing in hybrid and clean energy solutions for light trucks, emphasized its strong patent portfolio, state-of-the-art facility, and upcoming product launches, including the SOLIS solar cover and COR portable energy storage system. Worksport anticipates substantial revenue growth from these innovations and has seen positive B2C and B2B sales momentum. Additionally, its subsidiary, Terravis Energy, Inc., is developing a groundbreaking heat pump technology, with the company also pursuing several multi-million-dollar grants to support further growth.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 12:11 pm