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Acquisitions Mergers

VINO

Gaucho Group Holdings, Inc. (NASDAQ:VINO) anticipates that Argentina's bid to become a 'global partner' of NATO will lead to economic stability and growth, positively impacting the real estate sector and enhancing the value of the company's luxury real estate investments in the region. The company, which focuses on e-commerce platforms for fine wines, luxury real estate, and leather goods, sees this development as a potential boost to its business environment and investment value in Argentina.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 12:39 pm

CAN

Canaan Inc (NASDAQ:CAN) shares rose after executives announced plans to buy at least $2 million of the company's stock, citing the company as undervalued and highlighting progress in their A14 series mining machines and development of A15 and A16 series. This follows a recent prospectus for a potential $300 million securities offering. Canaan, which specializes in ASIC chip design and crypto mining, particularly bitcoin, reported $96 million in cash at the end of 2023 and is expected to report a loss in its next earnings.

Portfolio Pulse from Adam Eckert

April 22, 2024 | 12:35 pm

MU

PG

UBER

Micron Technology, Inc. received a $6.1 billion grant from the U.S. Commerce Department for a domestic chip factory. The Procter & Gamble Company reported a slight sales growth in Q3 FY24 but raised its EPS growth outlook. Uber Technologies, Inc. was recommended by Joseph M. Terranova with a price target increase by Tigress Financial. Micron shares fell 4.6%, while Procter & Gamble shares gained 0.5%, and Uber shares fell 3%.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 12:25 pm

SBOW

SilverBow Resources (NYSE:SBOW) has sent a letter to its shareholders outlining its stance against Kimmeridge Energy Management's proposal regarding Kimmeridge Texas Gas (KTG). SilverBow criticizes Kimmeridge's valuation of KTG as significantly inflated and argues that the proposed combination would be highly dilutive to SilverBow shareholders. The company asserts that KTG's assets are of lower quality and that its growth plan is value-destructive. SilverBow urges shareholders to vote for its director nominees to protect shareholder value against Kimmeridge's proxy fight aimed at forcing a detrimental combination.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 12:14 pm

CHMI

Cherry Hill Mortgage Investment Corporation (CHMI) shares are trading higher following the company's announcement that it is exploring strategic alternatives.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 12:12 pm

CHMI

Cherry Hill Mortgage Investment Corporation (CHMI) has announced that its Board of Directors has formed a special committee to explore strategic alternatives to maximize stockholder value. These alternatives could include a business combination, asset sale, or internal management changes, with Guggenheim Securities as the financial advisor. There is no guarantee of a transaction or strategic outcome, and no set timeline for the committee's review process.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 12:10 pm

INTZ

Intrusion announced its plan to acquire a minority stake in Klever AI through an all-stock transaction, though the financial details were not disclosed. This strategic investment aims to enhance the customer penetration of Intrusion Shield.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 12:07 pm

AILE

ANL

CDE

IAUX

INFA

LI

MNDR

TSLA

Tesla, Inc. (TSLA) shares fell 3.6% in pre-market trading after announcing a $2,000 price cut for its U.S. electric-vehicle lineups, affecting its shares and those of other companies. iLearningEngines, Inc. (AILE), Adlai Nortye Ltd. (ANL), Li Auto Inc. (LI), Mobile-health Network Solutions (MNDR), Coeur Mining, Inc. (CDE), i-80 Gold Corp. (IAUX), and Informatica Inc. (INFA) also saw declines in pre-market trading due to various factors including market reactions to Tesla's price cut, pullbacks in precious metals prices, and acquisition talks.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 12:04 pm

ADIL

Adial Pharmaceuticals Inc (NASDAQ:ADIL) has been granted a US patent (number 11957664) for a combination of its proprietary genetic diagnostic and its lead investigational drug, AD04, for treating alcohol use disorder (AUD) and other drug dependencies such as opioid use disorder (OUD). This patent strengthens Adial's intellectual property portfolio, covering specific genotypes for targeted treatment. The addressable market for these treatments in the U.S. is estimated at $40 billion. Additionally, Adial has previously received a patent for AD04 targeting the serotonin transporter gene for potential OUD treatment and published positive clinical results and safety profiles for AD04.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 12:00 pm

VSTO

Vista Outdoor shares are trading higher following the company's advice to MNC Capital to increase its offer price.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 11:38 am