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Acquisitions Mergers

BYD

TSLA

Tesla Inc (NASDAQ:TSLA) reported a significant sales decline and a halved profit but announced plans to accelerate affordable EV production, causing shares to surge almost 10% after-hours. Despite facing stiff competition from BYD Company Limited (OTC:BYD), known as the 'Tesla killer', Tesla is focusing on affordable EVs and AI investments, including a robotaxi reveal planned for August 8. The company's financials for the quarter ended March 31 showed a 9% revenue decline and a 55% net income drop, underperforming LSEG estimates.

Portfolio Pulse from Upwallstreet

April 24, 2024 | 3:49 pm

AMZN

DIS

NKE

PARA

SSP

Caitlin Clark is set to sign a historic $28 million, eight-year shoe deal with Nike, Inc (NYSE:NKE), marking the largest shoe deal in women's basketball history. The deal, which includes a signature shoe line, significantly exceeds her WNBA salary with the Indiana Fever. The endorsement has sparked discussions on pay disparity in sports. Competing brands like Puma, Adidas, and Under Armour (NYSE:UA) also pursued Clark, with Under Armour offering a higher annual rate but for fewer years. The deal positions Clark among a select group of WNBA players with their own signature shoe and is expected to boost Nike's sales. Additionally, Clark's anticipated WNBA debut is set to increase viewership and national broadcast coverage for the Fever's games, potentially benefiting media partners including The Walt Disney Company (NYSE:DIS), E.W. Scripps Company (NASDAQ:SSP), Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA), and Amazon.com Inc (NASDAQ:AMZN).

Portfolio Pulse from Chris Katje

April 24, 2024 | 3:32 pm

EADSY

SPR

Boeing's CEO discussed the Spirit deal during a conference call, emphasizing the company's ability to proceed without complete clarity on Airbus's actions. He encouraged Spirit AeroSystems to enhance its business operations.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 3:19 pm

KMCM

Key Mining Corp (NASDAQ:KMCM) is set to IPO on April 25, 2024, on the NASDAQ exchange, offering shares at $2.25 each with a 180-day insider lock-up period ending on October 22, 2024. The company focuses on developing two projects in the Atacama Region of Chile.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 3:00 pm

SPR

Boeing's CFO announced during a conference call that there are several terms and issues, including price, to be resolved in the ongoing discussions with Spirit AeroSystems regarding a potential deal.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:51 pm

GILD

HOOK

RHHBY

HOOKIPA Pharma Inc (NASDAQ:HOOK) saw its stock rise after receiving FDA clearance for its IND application for HB-700, a vaccine targeting KRAS-mutated cancers. Despite Roche (OTC:RHHBY) ending their collaboration earlier, HOOKIPA will regain full control of the HB-700 program's IP in April 2024. The company also plans to present preclinical data at the ASCO 2024 Annual Meeting. Additionally, HOOKIPA is focusing on its HB-200 program and partnerships with Gilead Sciences Inc (NASDAQ:GILD) for infectious disease cures.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 2:31 pm

GPI

Group 1 Automotive, Inc. (NYSE:GPI) reported Q1 earnings with adjusted EPS of $9.49, surpassing Wall Street expectations of $9.38, and revenues of $4.471 billion, exceeding forecasts of $4.379 billion. Sales increased by 8.2% YoY, while net income from continuing operations decreased by 7.2% YoY to $147.4 million. The company highlighted strong performance in the UK, with parts and service revenues up 5.1% YoY and UK total revenues up 4.7%. GPI also announced the acquisition of dealerships expected to generate $1.0 billion in annual revenues and the disposal of six dealerships in Texas. GPI shares rose 6.6% to $298.10.

Portfolio Pulse from Nabaparna Bhattacharya

April 24, 2024 | 2:24 pm

EQX

Equinox Gold (AMEX:EQX) acquires the remaining 40% stake in Greenstone Gold Mines for $995 million from Orion Mine Finance, gaining full ownership. The deal, expected to close in Q2 2024, will boost Equinox's annual gold production by 160,000 ounces and enhance shareholder value through increased EBITDA and cash flow. Financing includes $745 million in cash and 42 million shares, with a $500 million loan and $260 million in equity financing.

Portfolio Pulse from Stjepan Kalinic

April 24, 2024 | 2:15 pm

CRBU

Caribou Biosciences, Inc. (NASDAQ:CRBU) announced its participation in the 2024 ASCO Annual Meeting with two abstracts on its CRISPR genome-editing CAR-T cell therapies, CB-010 and CB-012, for r/r B-NHL and r/r AML, respectively. CB-010, a first-in-clinic allogeneic CAR-T therapy with a PD-1 knockout, targets B cell non-Hodgkin lymphoma and has received FDA designations including RMAT, Fast Track, and Orphan Drug. CB-012, targeting acute myeloid leukemia, features five genome edits for enhanced antitumor activity. Both presentations aim to showcase initial data and trial designs.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:03 pm

ADPV

NETZ

VRT

Vertiv Holdings Co (NYSE:VRT) shares surged after reporting strong Q1 FY24 results, surpassing expectations with an 8% Y/Y net sales increase to $1.64 billion and raising its 2024 guidance. The company's adjusted operating profit rose 42% Y/Y, and it announced a $600 million share buyback. Vertiv's positive outlook is driven by robust demand for AI deployments, with a raised FY24 revenue guidance to $7.54-$7.69 billion and adjusted EPS to $2.29-$2.35. TCW Transform Systems ETF (BATS:NETZ) and Series Portfolios Trust Adaptiv Select ETF (NYSE:ADPV) offer exposure to Vertiv's stock.

Portfolio Pulse from Lekha Gupta

April 24, 2024 | 1:51 pm