Streetbeat News

Acquisitions Mergers

BSY

Bentley Systems is reportedly exploring various options, including a potential sale, after receiving interest from potential buyers, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:02 pm

AGBA

AGBA Group Holding Limited (NASDAQ:AGBA) shares surged after announcing a definitive merger agreement with Triller Corp, valuing the combined company at approximately $4 billion. AGBA stockholders will own 20% and Triller stockholders 80% of the new entity. The merger has received majority shareholder support and approval from both boards. AGBA's stock experienced heavy trading and was halted for volatility, with over 44.37 million shares traded compared to its 100-day average of less than 224,000.

Portfolio Pulse from Erica Kollmann

April 18, 2024 | 3:56 pm

RTX

RTX Corp has signed its largest renewable energy agreement with ENGIE Resources LLC, a subsidiary of ENGIE North America, to supply 100% renewable electricity to 12 of its Texas facilities until 2033. This deal nearly doubles RTX's renewable electricity usage in 2023 and will reduce its carbon emissions by 560,000 metric tons, supporting its goals for 2025 and 2030 in renewable energy usage and greenhouse gas reduction.

Portfolio Pulse from Shivani Kumaresan

April 18, 2024 | 3:48 pm

WISA

WiSA Technologies, Inc. (NASDAQ:WISA) shares dropped significantly after announcing a licensing agreement with a top-three consumer electronics leader for its WiSA E software, enabling immersive audio in devices without extra hardware. This agreement, expected to generate revenue through royalties and consumer activations, marks the company's fourth major licensing deal. Additionally, WiSA's stock underwent a 1-for-150 reverse split, trading lower by 33.4% at $6.17.

Portfolio Pulse from Nabaparna Bhattacharya

April 18, 2024 | 3:43 pm

USDTUSD

Tether, the world's largest stablecoin creator, is restructuring into four divisions to expand its focus beyond stablecoins. The divisions include Data, focusing on AI investments; Finance, managing the USDT stablecoin; Power, overseeing Bitcoin mining investments; and Education, for educational activities. This move comes amid criticisms of Tether's transparency and reports of USDT being used to fund war activities by a Russian operative. Tether reported $6.2 billion in profits in its 2023 annual report, with significant USDT usage in countries like Brazil and Nigeria.

Portfolio Pulse from Khyathi Dalal

April 18, 2024 | 3:40 pm

FQVLF

RIO

Rio Tinto (NYSE:RIO) and Saudi Arabia's Manara Minerals Investment are reportedly interested in acquiring First Quantum Minerals' (OTCPK: FQVLF) Zambian assets, including the Sentinel and Kansanshi mines valued at $6 billion. These mines are significant for First Quantum, accounting for about half of its copper output and revenue last year. The sale is part of First Quantum's restructuring efforts, which also include cost-cutting and raising capital through stock sales and note offerings. Zambia's mining sector, crucial for these operations, faces challenges such as energy supply issues, declining ore grades, and fiscal policies.

Portfolio Pulse from Stjepan Kalinic

April 18, 2024 | 3:39 pm

MSFT

Microsoft's $13 billion investment in OpenAI is under scrutiny by EU antitrust regulators, who are considering an investigation to determine if the partnership restricts competition within the EU. While not currently investigated under EU merger rules, concerns exist about Microsoft's market power and potential distortion of competition. The European Commission is gathering evidence and has not yet decided to proceed with an investigation. Microsoft holds a non-voting position on OpenAI's board without owning any part of the company.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:39 pm

AGBA

AILE

LVS

SPCB

Las Vegas Sands Corp. (LVS) shares fell by around 7% despite reporting better-than-expected Q1 results, with earnings of 75 cents per share and sales of $2.96 billion. Other stocks also showed significant movement, with AGBA Group Holding Limited (AGBA) and Tian Ruixiang Holdings Ltd (TIRX) among the top gainers, while iLearningEngines Holdings, Inc. (AILE) and SuperCom Ltd (SPCB) led the losers.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 3:32 pm

ACMR

AMD

HHUSF

ICG

INTC

KFVG

China mandates leading telecom operators to eliminate foreign semiconductors by 2027, impacting Intel and AMD, which derive significant revenues from China. Despite potential revenue loss, KraneShares CIO Brendan Ahern views the impact on Intel and AMD as limited, citing the directive's focus on government procurement. Ahern suggests the KraneShares CICC China 5G and Semiconductor Index ETF (KFVG) and stocks like Hua Hong Semiconductor (HHUSF), Intchains Group (ICG), and ACM Research (ACMR) as potential investment opportunities amid China's push for semiconductor self-sufficiency.

Portfolio Pulse from Surbhi Jain

April 18, 2024 | 3:12 pm

CARR

Carrier Global Corporation (NYSE:CARR) announced an investment and technology partnership with Strategic Thermal Labs for a liquid cooling solution for data centers. This partnership includes a board seat for Carrier and exclusivity in a differentiated solution, building on Carrier's acquisition of Nlyte in 2021. The liquid cooling market is expected to grow significantly, driven by AI data center builds.

Portfolio Pulse from Shivani Kumaresan

April 18, 2024 | 3:11 pm