Streetbeat News

Acquisitions Mergers

BMY

JNJ

MRK

MYNZ

PFE

Pharmaceutical giants Bristol Myers Squibb, Merck, Pfizer, and Johnson & Johnson are navigating patent cliffs by focusing on cancer and heart disease treatments. Johnson & Johnson acquired Shockwave Medical to enhance its heart disease treatments, while Pfizer invested in cancer specialist Seagen. Bristol Myers Squibb reported positive trial data for a subcutaneous version of Opdivo, and Merck announced successful trials in cancer treatments with Moderna. Mainz Biomed reported significant progress in cancer detection.

Portfolio Pulse from Upwallstreet

April 10, 2024 | 2:47 pm

RIO

Rio Tinto (NYSE:RIO) appoints Bold Baatar as chief commercial officer, focusing on copper and renewable energy. Baatar, who joined in 2013 and led the Oyu Tolgoi copper mine expansion, replaces retiring Alf Barrios. The move aligns with Rio Tinto's strategy on key metals and improving its brand post-controversies. The company also partners with Founders Factory to foster entrepreneurship in Western Australia, investing $9.5 million in a startup hub for mining innovation.

Portfolio Pulse from Stjepan Kalinic

April 10, 2024 | 2:31 pm

ACN

Accenture (NYSE:ACN) has acquired Unlimited, an award-winning customer engagement agency, to enhance its CRM and customer relevance capabilities. This acquisition will be integrated into Accenture Song, aiming to leverage generative AI for marketing transformation. Unlimited, known for its expertise in behavioral science and CRM activation, aligns with Accenture Song's data and analytics capabilities. The acquisition is part of Accenture's ongoing investments to drive client growth in a rapidly evolving market.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 2:11 pm

FTXR

RDIV

Ford Motor Company (NYSE:F) shares dropped after announcing a recall of 42,652 Bronco Sport and Escape vehicles in the U.S. due to a risk of fire from broken fuel injectors. This follows a January recall of 2.24 million Explorer SUVs for trim retention clip issues. Ford also revealed upgrades for its 2024 Mustang Mach-E, including a new rear motor and faster charging times. FTXR and RDIV ETFs offer exposure to Ford stock, which has fallen 3.21% to $13.10.

Portfolio Pulse from Nabaparna Bhattacharya

April 10, 2024 | 1:53 pm

AAPL

TSLA

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a decline amid $250M in crypto liquidations, with concerns over potential Fed rate cuts. Apple is expanding into Latin America with a new office in Coral Gables. Other highlights include anticipation of US inflation data, political critiques within the US and regarding international relations, and various updates in the tech and electric vehicle sectors, including Apple's growth and Tesla's customer retention.

Portfolio Pulse from Akanksha Bakshi

April 10, 2024 | 1:49 pm

CLF

MDT

REPX

WCC

Jim Cramer recommended buying Medtronic (MDT), Riley Exploration Permian (REPX), and WESCO International (WCC) on CNBC's 'Mad Money Lightning Round.' Medtronic's Evolut FX+ TAVR system received FDA approval, Riley Permian announced a public offering, and Wesco completed a sale of its Wesco Integrated Supply business. Cramer also mentioned buying Cleveland-Cliffs (CLF) under $20, despite Wolfe Research's downgrade.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 1:18 pm

MRMD

MariMed (OTCQX:MRMD) has acquired the operating assets of Our Community Wellness & Compassionate Care Center in Maryland, marking its second adult-use Thrive Wellness dispensary in the state. The company paid the state's adult-use conversion fee and received an adult-use license. The dispensary, closed since July 1, 2023, is expected to reopen for adult-use retail sales by the end of Q2, pending regulatory approvals. MariMed aims to maximize its footprint in Maryland, a high-growth market, and plans to seek additional dispensary acquisitions.

Portfolio Pulse from Nina Zdinjak

April 10, 2024 | 1:14 pm

EBAY

eBay Inc (NASDAQ:EBAY) has announced a series of transactions with Collectors, including a commercial agreement, the sale of Goldin to eBay, and the sale of the eBay vault to PSA. These moves aim to enhance the trading card hobby experience by streamlining buying, selling, grading, and storage processes. The financial terms were not disclosed, and the transactions are expected to close in Q2 2024. EBAY shares dropped 2.14% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 1:13 pm

GreenPower Motor Company Inc. (NASDAQ:GP) announced plans to deliver 88 all-electric school buses in West Virginia in FY25, following a record number of deliveries in FY24. The company received an $18.56 million EPA grant for deploying zero-emission buses and charging infrastructure in seven West Virginia counties. GreenPower's production is expected to reach 50-60 buses per quarter by FY25 end. The commercial division also saw increased deliveries, with a 9% increase in EV Star deliveries and resumed deliveries to Workhorse.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:01 pm

LAD

Lithia Motors (NYSE:LAD) received mixed analyst ratings, with an updated average 12-month price target of $345.57, reflecting a 5.49% increase from the previous target. Analysts' actions varied, including ratings adjustments and price target changes, in response to Lithia Motors' market dynamics and performance. The company, a leading auto dealer, reported a 10.48% revenue growth rate as of December 31, 2023, and strong financial metrics such as a 2.78% net margin and a 3.5% ROE. Lithia Motors aims for further expansion, particularly in the US and UK markets.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 1:00 pm