Streetbeat News

Acquisitions Mergers

ARKF

DDOG

PINS

PSNL

TWLO

VERV

Cathie Wood's Ark Invest purchased additional shares of Pinterest Inc (PINS), a competitor to Meta Platforms, through its Fintech Innovation ETF (ARKF). The acquisition of 26,925 Pinterest shares, valued at $949,914, underscores Ark Invest's continued confidence in Pinterest despite its mixed financial performance. Additionally, Ark Invest made other key trades, including selling Twilio Inc (TWLO) shares from ARKF, buying Verve Therapeutics Inc (VERV) and Personalis Inc (PSNL) for its Genomic Revolution ETF, and trading in Datadog Inc (DDOG) stock for its Next Generation Internet ETF.

Portfolio Pulse from Benzinga Neuro

April 04, 2024 | 2:17 am

HOOD

Robinhood CEO Vlad Tenev announced Q1 2024 achievements on X, including a $30M bonus for account transfers, the launch of the Robinhood Gold Card, expansion into the UK and Europe, and the addition of new crypto assets. The company saw record overnight trading volumes and added new stocks and ETFs. An analyst raised Robinhood's forecast by 46%, reflecting strong growth potential. Robinhood's stock price slightly increased after these announcements.

Portfolio Pulse from Benzinga Neuro

April 04, 2024 | 2:10 am

TSLA

Elon Musk revealed that OpenAI is poaching Tesla engineers with 'massive compensation' offers, highlighting a fierce talent war in AI. Tesla's Ethan Knight is the latest to leave for Musk's AI venture, xAI, amidst this backdrop. Musk's efforts to retain talent include moving engineers to xAI and increasing Tesla AI team's compensation based on progress milestones. This situation unfolds as Musk faces a legal battle with OpenAI, a company he co-founded and left.

Portfolio Pulse from Ananya Gairola

April 04, 2024 | 1:52 am

ABAT

FEAM

5E Advanced Materials (FEAM) launched operations at its Boron Americas Complex, aiming to produce boric acid and lithium carbonate. Gold Fields (AU) began gold production at Salares Norte, expecting significant output and efficiency. U.S. Steel (X) partnered with CarbonFree to implement CO2 capture technology, supporting low-emission steel production. American Battery Technology (ABAT) received a $20 million grant for battery materials manufacturing and recycling, enhancing U.S. critical material infrastructure.

Portfolio Pulse from Austin DeNoce

April 03, 2024 | 9:23 pm

RKT

UWMC

Hunterbrook Media, a hedge fund and news organization, released a short report on UWM Holdings Corp (UWMC), alleging unfair practices and encouraging a class action lawsuit. Hunterbrook disclosed a short position in UWMC and a long position in Rocket Companies Inc (RKT). UWM responded, questioning Hunterbrook's practices and the report's validity, suggesting potential market manipulation. Despite the controversy, UWMC shares rose 1.67%.

Portfolio Pulse from Aaron Bry

April 03, 2024 | 9:17 pm

LUNR

Intuitive Machines Inc (NASDAQ:LUNR) shares rose in extended trading after being awarded a $30 million Lunar Terrain Vehicle contract by NASA. The contract involves a feasibility assessment for developing and deploying a Lunar Terrain Vehicle using Intuitive Machines' Nova-D lunar lander. The company's CEO highlighted the alignment with their capability to deliver payloads to the Moon, and the project allows for commercial utilization of the vehicle. Partners in the project include AVL, Boeing, Michelin, and Northrop Grumman. LUNR shares are up 135% year-to-date, following their successful moon landing mission.

Portfolio Pulse from Adam Eckert

April 03, 2024 | 8:58 pm

NVACF

SNDL

SNDL Inc. and Nova Cannabis Inc. have announced a strategic realignment of their retail operations, with SNDL transferring four Dutch Love cannabis retail stores to Nova. The deal involves Nova issuing SNDL CA$8.179 million in shares and is expected to be completed by the end of April 2024, pending regulatory approvals. This move will increase Nova's store count to 100 and SNDL's to 190. Additionally, SNDL has extended a $15 million revolving credit facility to Nova until March 31, 2026, to support Nova's growth.

Portfolio Pulse from Patricio Liddle

April 03, 2024 | 8:57 pm

EHC

Encompass Health Corp. (NYSE:EHC) has announced plans to construct a 50-bed inpatient rehabilitation hospital in San Antonio, Texas. This facility will cater to patients recovering from serious illnesses and injuries, offering a range of therapies and care. The hospital will include private rooms, a therapy gym, and other amenities, aiming to provide high-quality, compassionate care. It will expand Encompass Health's presence in Texas, joining its network of 27 hospitals, with two more under development.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:46 pm

BRBS

Blue Ridge Bankshares, Inc. (BRBS) has successfully closed on a $150 million private placement of common and preferred stock, replacing a previous transaction that failed to meet closing conditions. This capital injection is aimed at repositioning business lines, supporting organic growth, and enhancing capital levels to comply with regulatory requirements. The move comes after a shareholder inquiry raised questions about vote tabulation, prompting a restructuring of the offering.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:44 pm

GFI

Gold Fields (NYSE:GFI) has commenced production at its Salares Norte mine in Chile, marking a significant milestone with the first gold-silver doré pour. The project, which began over 13 years ago, represents a major investment exceeding $1 billion and is crucial for Gold Fields' goal of producing 2.8 million ounces of gold by 2025. Initial production is expected to be around 250,000 ounces this year, with a target of 580,000 ounces in full-year production next year. The mine is expected to create 900 permanent jobs, contribute nearly $800 million in taxes over its 11-year lifespan, and incorporate innovative technologies and environmental initiatives.

Portfolio Pulse from Stjepan Kalinic

April 03, 2024 | 8:40 pm