Streetbeat News

Acquisitions Mergers

DRLL

WEEI

XOM

ExxonMobil and HELLEniQ ENERGY have completed the first exploration phase in Crete and are moving to the second phase, focusing on 3D seismic data. Exxon also secured a large CO2 storage lease in the U.S. However, falling oil prices are expected to impact Exxon's Q3 earnings.

Portfolio Pulse from Lekha Gupta

October 10, 2024 | 12:47 pm

BGC

BGC Group, Inc. has acquired Sage Energy Partners to expand its energy and environmental brokerage services in the U.S., supporting its global growth in the Energy, Commodities, and Shipping sectors.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 12:44 pm

SURG

SurgePays, Inc. has signed a Master Services Agreement with TerraCom, Inc., effective October 3, 2024. The agreement includes a plan for SurgePays to acquire a majority stake in TerraCom, pending regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 12:43 pm

CNTM

ConnectM has acquired Green Energy Gains, marking its second acquisition since going public in July 2024. This acquisition expands ConnectM's customer base for its electric heat pump and leverages electrification incentives.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 12:37 pm

KZR

Kezar Life Sciences has received an unsolicited non-binding acquisition proposal from Concentra Biosciences, offering $1.10 per share in cash plus a contingent value right. The Kezar board will evaluate the proposal to determine the best course of action for shareholders.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 12:34 pm

BLMZ

INDV

TXG

BloomZ (BLMZ) has been selected as the primary animation production contractor for a new project, acquiring rights to music, distribution, and commercialization. 10x Genomics (TXG) shares fell due to lower-than-expected Q3 revenue guidance. Indivior (INDV) shares dropped after cutting FY24 revenue guidance.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 12:16 pm

FFIE

PLTR

Palantir Technologies has acquired an 8.7% stake in Faraday Future by converting receivables into equity. Faraday Future's stock rose 5.2% but is down nearly 90% year-to-date. The EV maker is struggling financially, with minimal revenue and significant losses.

Portfolio Pulse from Anan Ashraf

October 10, 2024 | 10:50 am

BW

Babcock & Wilcox is selling its Italy-based SPIG S.p.A. and Sweden-based Babcock & Wilcox Vølund AB to AUCTUS for $40 million. The transaction is expected to close by the end of October, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 10:31 am

CLSK

CleanSpark has achieved a 30 EH/s operational hashrate, with plans to exceed 37 EH/s by the end of 2024 and continue growing to 50 EH/s in 2025. The company's hashrate has increased by 200% since October 2023, driven by organic growth, acquisitions, and fleet upgrades.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 10:02 am

GRTS

Gritstone Bio has voluntarily filed for Chapter 11 restructuring to preserve value and support its strategic alternatives process. The company is in talks with a potential stalking horse bidder and plans to present an agreement to the court soon.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 9:51 am