Streetbeat News

Acquisitions Mergers

ALPN

VERA

Vera Therapeutics' stock price increased following rumors that the company is considering its options after receiving takeover interest, a sentiment echoed by Alpine Immune's recent report.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 4:53 pm

PARA

PARAA

Two board members of Paramount, who are part of the committee considering merger options, are planning to depart. This development occurs as Paramount is in discussions with Skydance Media about a potential merger. Additionally, three directors are expected to leave the Paramount board, according to sources.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 4:52 pm

ALPN

Alpine Immune Sciences, Inc. is reportedly exploring its options in response to takeover interest, according to Bloomberg. This development indicates potential strategic moves ahead, including the possibility of a sale or partnership.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 4:40 pm

APCX

AppTech Payments Corp's CTO, Mehrak Hamzeh, discusses the role of AI in fraud prevention and the company's future in fintech. AppTech, leveraging AI, aims to detect unusual activities and flag fraud, enhancing transaction security. The company is expanding its global fintech platform, introducing InstaCash, and targeting exponential growth by integrating banking and payment solutions with lower fees. AppTech's strategy includes acquiring patent portfolios and forming partnerships across various sectors, aiming to onboard 100 companies in the next 24 months.

Portfolio Pulse from Renato Capelj

April 10, 2024 | 4:32 pm

APRE

Aprea Therapeutics announced presentations on APR-1051 and ATRN-119 at AACR Annual Meeting 2024, highlighting pre-clinical and clinical updates. APR-1051, a WEE1 kinase inhibitor, shows potential for treating Cyclin E-overexpressing cancers with minimal off-target effects and low cardiotoxicity. ATRN-119, an ATR inhibitor, demonstrated safety and preliminary clinical benefit in an ongoing study. The company plans to initiate a Phase 1 trial for APR-1051 in June 2024.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 4:02 pm

ORGS

Germfree and Orgenesis Inc. (NASDAQ:ORGS) announced an asset purchase and strategic partnership to revolutionize cell and gene therapy production, aiming for global accessibility and affordability. The collaboration will leverage Germfree's modular cleanroom technology and Orgenesis' cell and gene therapy processes to reduce production costs and enable broader adoption of these treatments. The partnership will co-market Orgenesis' decentralized Octomera service platform and its mobile processing units globally, focusing on immuno-oncology and meeting growing demand.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 4:01 pm

ACN

Accenture Plc (NYSE:ACN) has acquired the customer engagement agency Unlimited, which will become part of Accenture Song, enhancing its offerings and generative AI capabilities. The acquisition aims to strengthen Accenture Song's marketing practice in the U.K., with nearly 600 Unlimited employees joining the team. The financial details of the acquisition were not disclosed. Accenture had $5.1 billion in cash and equivalents as of February 29, 2024. Following the news, ACN shares dropped by 2.48% to $324.89.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 3:59 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares dropped 2.84% amid news of CEO Elon Musk's planned visit to India to meet Prime Minister Narendra Modi. The visit, coinciding with India's elections, aims to announce investments for a new Tesla factory. Musk's trip is seen as a move to bolster Modi's pro-business image and Tesla's interest in the Indian market, with the company having lobbied for lower import taxes and started production of right-hand drive vehicles for India.

Portfolio Pulse from Nabaparna Bhattacharya

April 10, 2024 | 3:50 pm

SVNDF

SVNDY

Seven & I Holdings Co., Ltd. is considering a potential listing of its Ito-Yokado segment to focus on expanding its 7-Eleven franchise. The company aims to create a globally integrated CVS management structure and refine its Superstore business for re-growth. This move comes after pressure from ValueAct Capital Management for structural reform and valuation improvement, including potential store closures. Despite a slight decline in net sales, Seven & I reported a 5.5% increase in operating profit in its latest fiscal year. The company also plans share buybacks and a stock split, although its outlook slightly trails analysts' projections.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 3:18 pm

FANH

WDH

Zhongmiao Innovation Technology, backed by Haier Group, has filed for a Hong Kong IPO, showcasing strong profits with a focus on corporate insurance and a light cost structure. Despite a slowing economy, Zhongmiao's revenue grew by 17% to $24 million in 2023, with a gross profit margin over 40%. Its cost efficiency contrasts sharply with rivals Fanhua and Waterdrop, which have higher operating expenses and, in Waterdrop's case, an operating loss. Zhongmiao's corporate insurance sales, making up 41% of revenue with a 66% gross profit margin, significantly contribute to its profitability. However, the company faces risks from heavy reliance on a few underwriters and potential regulatory crackdowns.

Portfolio Pulse from The Bamboo Works

April 10, 2024 | 3:06 pm