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Acquisitions Mergers

TSM

Taiwan has expanded its 'chip diplomacy' by signing tech agreements with Canada and establishing an office in Prague to support Czech chip design engineers. This is part of Taiwan's strategy to leverage its semiconductor industry leadership to enhance international relations, despite China's opposition. Taiwan Semiconductor (TSM) plays a crucial role, with the U.S. funding a major TSMC project in Arizona and plans for TSMC facilities in Germany. Taiwan's semiconductor growth is driven by global demand and U.S. expansion, with TSMC expecting a 5% profit increase in the first quarter.

Portfolio Pulse from Benzinga Neuro

April 17, 2024 | 11:02 am

CPRI

TPR

Capri Holdings shares are trading lower after reports emerged that the FTC is preparing to sue to block Tapestry's acquisition of the company. This legal challenge could potentially derail the takeover, affecting Capri Holdings' stock performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:41 am

CPRI

TPR

The Federal Trade Commission (FTC) is reportedly preparing to sue to block Tapestry's proposed $8.5 billion acquisition of Capri Holdings, a major fashion deal that could significantly impact the luxury fashion industry.

Portfolio Pulse from Charles Gross

April 17, 2024 | 10:37 am

VNDA

Future Pak has made three proposals since February to acquire Vanda Pharmaceuticals, with the latest offer being $7.25-$7.75 per share, which remains open for consideration by Vanda and its Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:31 am

QSG

QuantaSing announced strategic initiatives to accelerate global growth, focusing on expanding its presence in the United States and Hong Kong.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 9:02 am

LGF/A

SCRM

Screaming Eagle and Lionsgate have advanced their business combination, with the SEC declaring their registration statement effective. The PIPE investment has been increased to $225M, coinciding with the launch of Lionsgate Studios. Extraordinary General Meetings are set for May 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 7:43 am

ARKK

BLDE

CAT

DKNG

PSNL

TSLA

Cathie Wood's Ark Invest purchased $3.3M worth of Tesla (TSLA) shares as the stock declined for the third consecutive session, amid concerns over its quarterly performance and strategic shifts. Ark's ETFs, including ARKK, ARKQ, and ARKW, added Tesla shares, making it the top holding in ARKK. Tesla's stock has been volatile, losing over 10% since Friday. Ark also bought shares of Personalis (PSNL) and Blade Air Mobility (BLDE), while selling DraftKings (DKNG) and Caterpillar (CAT) shares. DraftKings received a Buy rating from Goldman Sachs.

Portfolio Pulse from Shanthi Rexaline

April 17, 2024 | 2:18 am

UAL

United Airlines Holdings Inc (UAL) reported Q1 earnings with revenue of $12.539 billion, surpassing the consensus estimate of $12.4 billion. The adjusted quarterly loss was 15 cents per share, better than the expected 57 cents per share loss. Capacity increased by 9.1% year-over-year, with slight changes in TRASM and CASM. United adjusted its fleet plan, converting some Boeing Co (BA) Max 10 orders to Max 9 for 2025-2027 and planning to lease 35 Airbus A321neos for 2026-2027. The company ended the quarter with $16.9 billion in liquidity and $27.2 billion in debt. United reiterated its full-year 2024 earnings outlook of $9 to $11 per share and adjusted its aircraft delivery schedule for 2024. United's shares rose 4.75% in after-hours trading to $43.47.

Portfolio Pulse from Adam Eckert

April 16, 2024 | 8:30 pm

SSSS

SuRo Capital Corp. (SSSS) announced a Q1 2024 update, revealing a $10M investment in Liquid Death and a potential new investment. The company highlighted its strong investment pipeline, over $60M in investable capital, and actions to enhance shareholder value, including a Modified Dutch Auction Tender Offer and a Share Repurchase Program. SuRo Capital's net asset value is estimated to be between $6.90 to $7.40 per share as of March 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:21 pm

DTIL

Precision BioSciences (DTIL) has concluded its collaboration with Prevail Therapeutics, regaining control of three programs. The collaboration demonstrated the efficacy of ARCUS for gene excision and insertion. DTIL plans to continue developing these programs independently or with new partners. The company's key clinical priorities in Hepatitis B and Primary Mitochondrial Myopathy, along with its financial runway until the second half of 2026, remain unaffected.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:17 pm