Streetbeat News

Acquisitions Mergers

ADAP

Adaptimmune Therapeutics' stock trades lower following the announcement of the termination of its Strategic Collaboration and License Agreement with Genentech and F. Hoffman-La Roche Ltd.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 3:45 pm

AMZN

VCR

XLY

Amazon.com Inc (NASDAQ:AMZN) has significantly invested in robotics and AI across its European fulfillment centers, introducing over 1,000 new technologies and investing more than 700 million euros. This advancement has enriched over 50,000 jobs and created 700 new job categories, despite a reduction in its human workforce from 1.6 million in 2021 to 1.5 million. The deployment of over 750,000 robots aims to enhance efficiency, safety, and delivery speeds. Amazon's stock has seen a 92% increase over the last 12 months, with exposure available through ETFs like SPDR Select Sector Fund – Consumer Discretionary (NYSE:XLY) and Vanguard Consumer Discretion ETF (NYSE:VCR).

Portfolio Pulse from Anusuya Lahiri

April 12, 2024 | 3:27 pm

CEG

CMG

RBLX

RENT

RLYB

Benzinga's Stock Whisper Index highlights five stocks: Rent the Runway (RENT), Rallybio Corp (RLYB), Constellation Energy Corp (CEG), Roblox Corp (RBLX), and Chipotle Mexican Grill (CMG). RENT's stock soared with positive Q4 results and guidance. RLYB shares jumped after a development agreement with Johnson & Johnson (JNJ). CEG's stock is up 148% over the past year, with strong Q4 results. RBLX is gaining interest ahead of Q1 results, partly due to a new advertising strategy with PubMatic Inc (PUBM). CMG's stock is near all-time highs, with a proposed 50-for-1 stock split.

Portfolio Pulse from Chris Katje

April 12, 2024 | 3:26 pm

Citi's CEO reported during a conference call that M&A revenues remain low industry-wide, yet corporate sentiment is notably positive. This mixed outlook reflects the current state of the mergers and acquisitions market.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 3:15 pm

INDA

MUFG

Japan's Mitsubishi UFJ Financial Group (MUFG) is in discussions to acquire approximately 20% of shares in HDB Financial Services, a non-bank lender affiliated with India's HDFC Bank, for an investment valued between ¥200 billion and ¥300 billion, as reported by Nikkei.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 3:09 pm

NXPL

NextPlat Corp (NASDAQ:NXPL) shares surged following the announcement of a definitive business combination agreement with its majority-owned subsidiary, Progressive Care Inc. The merger involves a NextPlat subsidiary merging with Progressive Care, with the latter becoming a wholly owned subsidiary of NextPlat, to be renamed Progressive Care LLC. Shareholders of Progressive Care will receive NextPlat's common stock, with the exchange ratio based on a 20-day volume-weighted average price of NextPlat's stock and a $2.20 per share valuation of Progressive Care. The deal is expected to close in Q3 2024, pending regulatory and shareholder approvals. NextPlat also reported a significant revenue increase for fiscal year 2023, attributing growth to healthcare operations and the Progressive Care consolidation. The company's gross margins improved, and it plans to launch new products, including a brand of vitamins and dietary supplements.

Portfolio Pulse from Nabaparna Bhattacharya

April 12, 2024 | 2:45 pm

JANX

Janux Therapeutics shares are experiencing an increase in value due to ongoing momentum from reports on Wednesday indicating that the company is considering a potential sale.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:29 pm

AMD

BABA

BIDU

INTC

PDD

Alibaba Group Holding Limited (NYSE:BABA) and its Chinese peers, including Baidu, Inc (NASDAQ:BIDU), JD.Com, Inc (NASDAQ:JD), and PDD Holdings Inc (NASDAQ:PDD), are trading lower amid China's retaliation against U.S. semiconductor sanctions. This includes directives to phase out foreign processors by 2027, impacting Intel Corp (NASDAQ:INTC) and Advanced Micro Devices, Inc (NASDAQ:AMD), with both companies seeing revenue reductions in China. Alibaba has also reduced its cloud service prices internationally by up to 59% due to competitive pressures and U.S. sanctions.

Portfolio Pulse from Anusuya Lahiri

April 12, 2024 | 2:29 pm

AMD

BOTZ

INTC

NVDA

SMH

China is phasing out foreign processors from its telecom systems by 2027, impacting AMD and Intel significantly as they are major suppliers. This move aligns with China's goal to use domestic chips, challenging the dominance of American semiconductor companies in its largest market. Nvidia, despite U.S. sanctions, remains competitive by adapting its products for the Chinese market and maintaining its lead in AI chips. AMD and Intel are shifting focus to AI in personal computers. Nvidia, AMD, and Intel stocks traded lower following these developments.

Portfolio Pulse from Anusuya Lahiri

April 12, 2024 | 2:24 pm

US Steel and Nippon Steel are considering delaying the finalization of their deal, according to Bloomberg. The specifics of the deal or the reasons for the potential delay were not disclosed in the article.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 2:23 pm