Streetbeat News

Acquisitions Mergers

OST

Ostin Technology Group Co., Ltd. (NASDAQ:OST), a leading supplier of display modules and polarizers, announced the commencement of operations of its US subsidiary, Pintura.Life LLC, in San Francisco. This move is part of its strategy to expand into the North American market with its Pintura products. The company launched a crowdfunding campaign on Indiegogo for Pintura, aiming to introduce it to a broader U.S. and North American audience. The San Francisco presence is seen as a strategic step to leverage local talent and market opportunities in North America.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:35 pm

RKLB

Rocket Lab USA, Inc. (RKLB) has reintegrated a previously flown Electron rocket first stage tank into its production line for reflight, marking a significant step towards making Electron the world's first reusable small orbital launch vehicle. The tank, recovered from the 'Four of a Kind' mission in January 2024, has passed extensive acceptance tests, including tank pressurization, helium leak check, and carbon fiber structural testing. This move is part of Rocket Lab's iterative development process aimed at Electron's reusability, with the recovered stage set to undergo final testing to confirm its suitability for reflight.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:34 pm

AXIL

AXIL Brands, Inc. (NYSE:AXIL) reported a Q3 EPS of $0.04, up from $0.01 YoY, with revenue increasing 14.4% to approximately $6.47M. Gross profit margin decreased to 71.5% from 74.6%, and operating expenses rose to 73.1% of net revenue. The company also reported a net income of $781,091. Key updates include a rebranding to AXIL Brands, Inc., uplisting to the NYSE American Stock Exchange, and a significant repurchase of Series A preferred shares, reducing outstanding shares by approximately 55% on a fully diluted basis.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:34 pm

M

Macy's, Inc. (NYSE:M) announced the appointment of Richard Clark and Richard L. Markee to its Board of Directors, following engagement with Arkhouse, which led to the termination of its proxy contest. Tony Spring assumes the chairman role, and Douglas W. Sesler joins the Board, following the retirements of Jeff Gennette and Frank Blake. The Board is engaging with Arkhouse and Brigade regarding a proposal to acquire Macy's, with due diligence information being shared.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:32 pm

CPNG

Coupang Inc (NYSE:CPNG) has shown significant growth with a 21.92% increase in stock returns over the past year and a 17.48% gain year-to-date. Analysts have a bullish outlook on CPNG, with a consensus Buy rating and a target price of $21.57. The acquisition of Farfetch expands Coupang into the luxury market, enhancing growth opportunities despite competition. Technical analysis indicates a potential Golden Cross, suggesting an uptrend, although the RSI nears overbought conditions, warranting caution.

Portfolio Pulse from Surbhi Jain

April 10, 2024 | 12:23 pm

SILO

Silo Pharma, Inc. (NASDAQ:SILO) is set to acquire an exclusive license for Alzheimer's disease therapeutic SPC-14 from Columbia University, showing promise in preclinical models for cognitive improvement and stress reduction. The global Alzheimer's disease therapeutics market is expected to exceed $30.8 billion by 2033. SPC-14 targets glutamate receptor NDMAR and serotonin type 4 receptor 5HT4, showing effectiveness in small animal studies.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:11 pm

UNIT

Uniti Group Inc. (NASDAQ:UNIT) has announced a significant network expansion in Huntsville, Alabama, through a 20-year contract with a strategic hyperscale customer. The expansion will add approximately 70 route miles to support key data center locations and connect Huntsville to regional and national data center markets. This move is part of Uniti's lease-up strategy, leveraging the growing demand for AI applications and power availability in southeastern markets. Uniti plans to complete the fiber routes within the next two years, ultimately owning 190 route miles of infrastructure in Huntsville.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:02 pm

PLTR

ROKU

TDOC

Cathie Wood's Ark Invest made significant purchases in Roku, Palantir, and Teladoc Health, reflecting a strategic investment across technology and healthcare sectors. Ark's ETFs, including ARKK and ARKW, bought shares in Roku, making it the third biggest holding in ARKK. ARKX acquired shares in Palantir, notable against the backdrop of selling Nvidia shares. Additionally, Ark increased its stake in Teladoc through multiple ETFs, amidst cautious analyst expectations for Teladoc's upcoming earnings.

Portfolio Pulse from Shanthi Rexaline

April 10, 2024 | 11:39 am

SPSC

SPS Commerce has acquired the SAP B1 SPS Integration Technology from Vision33, enhancing its capabilities in EDI system automation. This strategic acquisition is expected to strengthen SPS Commerce's position in the market by expanding its technology offerings and potentially increasing its customer base.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 11:36 am

FSV

FirstService Corporation's subsidiary, First Onsite Property Restoration, has acquired All Restoration Solutions. The financial terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 11:34 am