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Acquisitions Mergers

EADSY

ITA

PPA

SPR

Boeing Company (NYSE:BA) reported a significant drop in its first quarter deliveries for 2024, with 83 commercial aircraft delivered compared to 130 in the same period last year. The company also delivered 14 defense sector aircraft. Boeing and Airbus SE (OTC:EADSY) are reportedly close to splitting operations of supplier Spirit Aerosystems Holdings, Inc. (NYSE:SPR), potentially ending Boeing's 20-year outsourcing strategy. This comes as Boeing faces pressure to reassess its supply chain strategy following a recent crisis. BA stock has declined over 13% in the past year, with exposure available through IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Invesco Aerospace & Defense ETF (NYSE:PPA).

Portfolio Pulse from Nabaparna Bhattacharya

April 09, 2024 | 3:47 pm

ETH-USD

SOL-USD

Monad Labs has successfully raised $225 million in a funding round led by Paradigm for the development of its Layer-1 blockchain, aiming to compete with Ethereum and Solana by offering faster transactions, higher volume, and lower costs. The funding, which is the largest crypto fundraiser of 2024, also saw participation from Electric Capital and Greenoaks. Monad's blockchain will be compatible with the Ethereum Virtual Machine, facilitating easy transfer of applications from Ethereum. The company plans to launch its mainnet by the end of 2024.

Portfolio Pulse from Khyathi Dalal

April 09, 2024 | 3:20 pm

GE Aerospace shares are trading lower due to overall market weakness and potential volatility from the recent GE Vernova spin-off, as investors await Wednesday's CPI report.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 3:03 pm

AGI

FCX

HBM

TSLA

Bank of America projects gold prices to reach $3,000 per ounce by 2025, driven by strong demand from central banks and anticipated investor return as interest rates drop. The bank also warns of a copper supply crisis, predicting prices to hit $12,000 per tonne by 2026 due to green technology investments and global economic recovery. Alamos Gold Corp. (AGI), Freeport-McMoran Inc. (FCX), and Hudbay Minerals Inc. (HBM) ratings were upgraded to Buy, while Tesla Inc. (TSLA) is noted for reducing copper use in its latest EV technology.

Portfolio Pulse from Piero Cingari

April 09, 2024 | 2:44 pm

LCID

QCLN

RNEW

Lucid Group, Inc. (NASDAQ:LCID) shares rose by 4.7% after reporting a production of 1,728 vehicles for Q1 2024, despite a decrease from the previous year's 2,314 vehicles. The company also delivered more vehicles than in Q1 2023. Lucid recently secured a $1 billion investment from Ayar Third Investment Company for general corporate purposes. LCID's stock has declined over 65% in the past year. Investors can also gain exposure to LCID through ETFs like QCLN and RNEW.

Portfolio Pulse from Nabaparna Bhattacharya

April 09, 2024 | 2:16 pm

HYMTF

TSLA

Ford Motor (NYSE:F) is delaying the production of an all-electric SUV and pickup truck to focus on hybrids, despite a $4.7 billion loss in its EV business in 2023. The delay allows Ford to leverage developing battery technology and continue construction of battery plants. Ford ranked just behind Tesla (NASDAQ:TSLA) and Hyundai (OTC:HYMTF) in EV sales, with a significant YoY increase in EV and hybrid sales. The strategy reflects a cautious approach to EV production amid high costs and market realities.

Portfolio Pulse from Upwallstreet

April 09, 2024 | 2:00 pm

DIS

NFLX

Disney CEO Bob Iger emphasizes focusing on theme parks and experiences, the best-performing division, while aiming to make streaming profitable by following Netflix's strategies. Disney plans to invest $60 billion in park enhancements over the next decade and aims to integrate Hulu into Disney+ and transition ESPN for streaming. Despite challenges, the experiences division posted record revenue and operating income in the 2023 fiscal year.

Portfolio Pulse from Upwallstreet

April 09, 2024 | 1:57 pm

ACTV

PKB

SWX

Southwest Gas Holdings, Inc.'s subsidiary, Centuri Holdings, Inc., is preparing for an IPO, offering 12.40 million shares with an option for underwriters to buy an additional 1.86 million shares. The price range is set between $18.00 and $21.00 per share, and it will be listed on the NYSE under the ticker 'CTRI'. Carl Icahn's investment entities have agreed to purchase 2.59 million shares concurrently. The IPO is part of a public filing with the SEC by Centuri. Exposure to SWX can also be gained through LeaderShares Activist Leaders ETF (ACTV) and Invesco Building & Construction ETF (PKB). SWX shares recently dropped by 0.74%.

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 1:54 pm

ACRV

Acrivon Therapeutics Inc (NASDAQ:ACRV) announced a $130 million private placement financing, issuing 8.235 million shares at $8.50 each and pre-funded warrants for 7.06 million shares. This oversubscribed PIPE financing is expected to close on April 11. The funds will support the advancement of ACR-368 and other pipeline projects, with sufficient funding anticipated into the second half of 2026. ACRV shares surged 53.5% to $9.07 following the announcement.

Portfolio Pulse from Adam Eckert

April 09, 2024 | 1:52 pm

ALCC

FANG

AltC Acquisition Corp (ALCC) shares surged after announcing a Letter Of Intent (LOI) with Diamondback Energy Inc (FANG) for a 20-year power purchase agreement through its merger partner Oklo. The agreement aims to supply emission-free electricity to Diamondback's operations in the Permian Basin using Oklo's Aurora powerhouses. Oklo and AltC Acquisition Corp have a definitive business combination agreement, with the combined company set to trade under the ticker 'OKLO'.

Portfolio Pulse from Adam Eckert

April 09, 2024 | 1:47 pm