Streetbeat News

Acquisitions Mergers

ACOR

ALPN

APVO

RENT

RLYB

Rallybio Corporation shares surged 77.9% in pre-market trading following a collaboration announcement with Johnson & Johnson on therapeutics for pregnant individuals at risk of FNAIT. Other stocks also showed significant movement in pre-market trading, with notable gainers including Rent the Runway, Alpine Immune Sciences, and TuanChe Limited, among others. Conversely, Aptevo Therapeutics and Acorda Therapeutics led the pre-market losers, with significant drops due to a pipeline update and bankruptcy proceedings, respectively.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 10:14 am

GOOG

GOOGL

MBGAF

MBGYY

MSFT

At the Google Cloud Next conference, Alphabet (GOOG/GOOGL) announced its focus on generative AI to revolutionize business operations, directly competing with Microsoft (MSFT) and OpenAI. Google introduced AI-powered tools for B2B enterprises, including Google Vids for video creation, Imagen 2 for video clips from text, and Code Assist for coding assistance. Additionally, Google Cloud is expanding its partnership with Mercedes-Benz (MBGAF/MBGYY) to enhance customer experiences with AI technologies. This marks a significant step in Google's AI strategy, positioning it as a key player in the AI race against Microsoft.

Portfolio Pulse from Upwallstreet

April 11, 2024 | 10:13 am

CONN

Conn's anticipates a challenging macro-environment for FY25 but expects year-over-year improvements in retail sales and profitability, attributed to the Badcock transaction and ongoing strategic initiatives.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 10:04 am

Reuters reported that Blackstone (BX) and CVC are among the potential bidders for Superstruct Entertainment, a European festivals organizer. This move indicates Blackstone's interest in expanding its portfolio into the entertainment and live events sector.

Portfolio Pulse from Charles Gross

April 11, 2024 | 9:59 am

MOR

NVS

Novartis has initiated a voluntary public takeover offer for all outstanding shares of MorphoSys at €68.00 per share, representing a 142% premium over the volume-weighted average price of the last three months. The offer is made through Novartis's subsidiary, Novartis BidCo AG.

Portfolio Pulse from Charles Gross

April 11, 2024 | 8:52 am

ASML

NVDA

TCEHY

Huawei Technologies is expanding its semiconductor R&D efforts in Shanghai as a countermeasure to U.S. export controls, focusing on developing lithography machines essential for advanced chip production. This move aims to reduce reliance on foreign technology and strengthen its semiconductor supply chain, potentially impacting the market positions of Nvidia, AMD, and ASML Holding.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 8:28 am

LAKE

Lakeland Industries (LAKE) projects FY 2025 revenue to be between $140M-$150M, surpassing the consensus of $138.9M. The company also forecasts its adjusted EBITDA to range from $16.8M to $18.5M, including the impact of the Jolly Scarpe and Pacific Helmets acquisitions but excluding the upcoming LHD fire and rescue business acquisition expected to close in late May 2024.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 7:14 am

FSBC

Five Star Bancorp announced the hiring of Casey Grafeld as Senior Vice President / Managing Director to advance its expansion in the San Francisco Bay Area, specifically in Marin County, through personalized commercial banking services. This move is part of its broader strategy following a successful share offering.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 6:11 am

COIN

PLTR

Cathie Wood's Ark Invest sold 24,141 shares of Coinbase (COIN) and bought shares of Palantir Technologies (PLTR), despite a rise in Bitcoin prices. The sale of COIN shares through ARKK, ARKW, and ARKF amounted to $6.06 million, with COIN's price at $250.99, up 3.31%. Ark Invest purchased 10,039 PLTR shares worth $225,074, following a previous day's purchase worth $90,647. Additionally, Ark made trades in TDOC, PATH, RXRX, IRDM, and ROKU through its various ETFs.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 3:17 am

DJT

A board member of Trump Media & Technology Corp (NASDAQ:DJT), Eric Swider, is implicated in a lawsuit for allegedly hacking and attempting a corporate coup against Patrick Orlando, the architect of the deal to take Truth Social public. The lawsuit, filed in the Southern District of Florida, accuses Swider and others of unlawfully accessing computer systems and files to oust Orlando. This legal battle adds to the challenges faced by Truth Social and its parent company, which despite legal and financial hurdles, went public last month with a valuation over $5 billion.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 2:43 am