Streetbeat News

Acquisitions Mergers

MSFT

Traders are closely monitoring Microsoft amid reports that the company is seeking to avoid a formal EU investigation into its $13 billion acquisition of OpenAI. This development is significant as it could impact Microsoft's strategic positioning and regulatory landscape.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:05 pm

INVO

INVO BioScience, Inc. (NASDAQ:INVO) shares surged after reporting a 396.15% increase in quarterly sales to $1.38 million and remaining on track for profitability in 2024. The company also plans to acquire NAYA Biosciences in an all-stock transaction, aiming to transform into a healthcare services company. INVO's stock is trading above its 200-day moving average, indicating bullish sentiment among investors.

Portfolio Pulse from Erica Kollmann

April 17, 2024 | 3:59 pm

BYDDY

TSLA

VWAGY

XPEV

Volkswagen AG, in partnership with XPeng Inc, has developed a new EV architecture aimed at reducing manufacturing costs and competing with Tesla Inc. This China Electrical Architecture (CEA) will reduce control units by 40%, targeting a launch in 2026 for Volkswagen-branded EVs in China. This development is part of Volkswagen's strategy to regain its market position in China against local EV makers like BYD Company Limited, which recently expanded its vehicle offerings.

Portfolio Pulse from Upwallstreet

April 17, 2024 | 3:37 pm

CTOS

Custom Truck One Source, Inc. (NYSE:CTOS) has acquired A&D Maintenance and Repair, expanding its New York footprint and service capabilities. The acquisition adds over 20,000 square feet of space and a highly experienced team, enhancing Custom Truck's presence and service capacity in Long Island and the greater New York City metro area. CEO Ryan McMonagle emphasized the cultural fit and the potential to build on A&D's legacy, noting the acquisition will complement existing offerings and improve service to customers in the region.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 3:09 pm

BSFC

Blue Star Foods Corp. (BSFC) has secured additional non-dilutive funding to support expansion in its soft shell crab operations and to meet increased demand under its Master Service Agreement. The company issued a promissory note and shares to an accredited investor, and a convertible promissory note to an institutional investor. CEO John Keeler expressed confidence in the company's growth and its efforts to remain NASDAQ-listed, following NASDAQ's conditional approval for continued listing.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 3:01 pm

CTRI

Centuri Holdings, Inc (NYSE:CTRI) is set to begin trading on the NYSE on April 18, with its IPO priced between $18.00 and $21.00 per share. The company, a leading utility infrastructure services provider in North America, has a 180-day insider lock-up period ending on October 15, 2024.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 3:00 pm

CDTG

CDT Environmental Technology Investment Holdings Limited (CDTG) is set to begin trading on NASDAQ on April 18, with shares priced between $4.00 and $5.00. The company specializes in sewage treatment systems and services.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 3:00 pm

IBTA

Ibotta, Inc (NYSE:IBTA) is set for its IPO on April 18, offering shares priced between $76.00 and $84.00. The company, a pioneer in success-based marketing for CPG brands through its Ibotta Performance Network, will have a 180-day insider lock-up period ending on October 15, 2024.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 3:00 pm

IBKR

PLCE

UAL

United Airlines Holdings, Inc. (NASDAQ:UAL) reported better-than-expected Q1 financial results, leading to an 11.2% increase in its stock price. Other companies like Edible Garden AG, The Children's Place, Cullinan Therapeutics, and Interactive Brokers also saw significant stock movements due to various factors including preliminary results, new financing agreements, analyst ratings, and quarterly earnings.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 2:55 pm

AAPL

NVDA

Foxconn, a key supplier to Apple Inc, has initiated a rotating CEO system as part of its management restructuring for future leadership preparation. This move aims to separate the CEO and chairperson roles, improve corporate governance, and develop new talent. The system will involve executives from Foxconn's six main business sectors but will exclude operations of its major listed subsidiaries. Additionally, Foxconn reported a first-quarter revenue decline and announced a partnership with Nvidia Corp to enter the AI server market.

Portfolio Pulse from Anusuya Lahiri

April 17, 2024 | 2:45 pm