Streetbeat News

Acquisitions Mergers

ASML

NVDA

TCEHY

Huawei Technologies is expanding its semiconductor R&D efforts in Shanghai as a countermeasure to U.S. export controls, focusing on developing lithography machines essential for advanced chip production. This move aims to reduce reliance on foreign technology and strengthen its semiconductor supply chain, potentially impacting the market positions of Nvidia, AMD, and ASML Holding.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 8:28 am

LAKE

Lakeland Industries (LAKE) projects FY 2025 revenue to be between $140M-$150M, surpassing the consensus of $138.9M. The company also forecasts its adjusted EBITDA to range from $16.8M to $18.5M, including the impact of the Jolly Scarpe and Pacific Helmets acquisitions but excluding the upcoming LHD fire and rescue business acquisition expected to close in late May 2024.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 7:14 am

FSBC

Five Star Bancorp announced the hiring of Casey Grafeld as Senior Vice President / Managing Director to advance its expansion in the San Francisco Bay Area, specifically in Marin County, through personalized commercial banking services. This move is part of its broader strategy following a successful share offering.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 6:11 am

COIN

PLTR

Cathie Wood's Ark Invest sold 24,141 shares of Coinbase (COIN) and bought shares of Palantir Technologies (PLTR), despite a rise in Bitcoin prices. The sale of COIN shares through ARKK, ARKW, and ARKF amounted to $6.06 million, with COIN's price at $250.99, up 3.31%. Ark Invest purchased 10,039 PLTR shares worth $225,074, following a previous day's purchase worth $90,647. Additionally, Ark made trades in TDOC, PATH, RXRX, IRDM, and ROKU through its various ETFs.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 3:17 am

DJT

A board member of Trump Media & Technology Corp (NASDAQ:DJT), Eric Swider, is implicated in a lawsuit for allegedly hacking and attempting a corporate coup against Patrick Orlando, the architect of the deal to take Truth Social public. The lawsuit, filed in the Southern District of Florida, accuses Swider and others of unlawfully accessing computer systems and files to oust Orlando. This legal battle adds to the challenges faced by Truth Social and its parent company, which despite legal and financial hurdles, went public last month with a valuation over $5 billion.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 2:43 am

ADIL

ALPN

MRIN

MSTR

TSLA

On Wednesday, U.S. stock indexes closed lower, with notable movements in specific stocks. MicroStrategy Inc. saw an 8.67% increase, attributed to Bitcoin's surge affecting its shares and bonds. Adial Pharmaceuticals Inc. jumped 106.19% after publishing positive clinical results for AD04. Alpine Immune Sciences Inc. rose 20.80%, exploring strategic options including a sale. Marin Software Inc. surged 126.30% following upgrades to its Microsoft advertising integration. Tesla Inc. dropped 2.89% amid potential talks between its CEO and the Indian Prime Minister.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 2:19 am

CDE

GATO

TMC

Gatos Silver Inc (NYSE:GATO) reported a record quarterly mill throughput for Q1 2024 at its Cerro Los Gatos mine, with plans for further productivity improvements. AngloGold Ashanti PLC (NYSE:AU) published its 2023 Annual Report, detailing corporate restructuring and a potential joint venture to create Africa's largest gold mine. Steve Jurvetson joined the board of TMC The Metal Company Inc. (NASDAQ:TMC), aiming to guide the company into commercial production of critical metals. BMO Capital maintained a Market Perform rating on Coeur Mining Inc (NYSE:CDE) and raised its price target.

Portfolio Pulse from Austin DeNoce

April 10, 2024 | 10:12 pm

STC

Stewart Information Services has acquired All New York Title Agency, a commercial boutique title company founded in 1995, specializing in various housing markets throughout New York State. The acquisition terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 9:03 pm

CEAD

CEA Industries is actively evaluating merger and acquisition opportunities and other alternatives for its future. On April 9, the company received a notice from Nasdaq about the delisting of its shares of common stock and common stock warrants, which will take effect on April 18.

Portfolio Pulse from Charles Gross

April 10, 2024 | 8:57 pm

DIS

DKNG

NKE

PARA

The 88th Masters Tournament, featuring Tiger Woods among 89 golfers, will be broadcast by ESPN and CBS, with streaming on ESPN+ and Paramount+. Betting odds favor Scottie Scheffler, with DraftKings listing various odds for top contenders. Woods, with new TaylorMade partnership, faces long odds. Scheffler and Sam Burns, both with pregnant spouses, may withdraw, affecting bets. McIlroy aims for his first Masters win, recalling past winners and predicting his victory.

Portfolio Pulse from Chris Katje

April 10, 2024 | 8:42 pm