Streetbeat News

Acquisitions Mergers

F

HYMTF

TSLA

Ford Motor (NYSE:F) is delaying the production of an all-electric SUV and pickup truck to focus on hybrids, despite a $4.7 billion loss in its EV business in 2023. The delay allows Ford to leverage developing battery technology and continue construction of battery plants. Ford ranked just behind Tesla (NASDAQ:TSLA) and Hyundai (OTC:HYMTF) in EV sales, with a significant YoY increase in EV and hybrid sales. The strategy reflects a cautious approach to EV production amid high costs and market realities.

Portfolio Pulse from Upwallstreet

April 09, 2024 | 2:00 pm

DIS

NFLX

Disney CEO Bob Iger emphasizes focusing on theme parks and experiences, the best-performing division, while aiming to make streaming profitable by following Netflix's strategies. Disney plans to invest $60 billion in park enhancements over the next decade and aims to integrate Hulu into Disney+ and transition ESPN for streaming. Despite challenges, the experiences division posted record revenue and operating income in the 2023 fiscal year.

Portfolio Pulse from Upwallstreet

April 09, 2024 | 1:57 pm

ACTV

PKB

SWX

Southwest Gas Holdings, Inc.'s subsidiary, Centuri Holdings, Inc., is preparing for an IPO, offering 12.40 million shares with an option for underwriters to buy an additional 1.86 million shares. The price range is set between $18.00 and $21.00 per share, and it will be listed on the NYSE under the ticker 'CTRI'. Carl Icahn's investment entities have agreed to purchase 2.59 million shares concurrently. The IPO is part of a public filing with the SEC by Centuri. Exposure to SWX can also be gained through LeaderShares Activist Leaders ETF (ACTV) and Invesco Building & Construction ETF (PKB). SWX shares recently dropped by 0.74%.

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 1:54 pm

ACRV

Acrivon Therapeutics Inc (NASDAQ:ACRV) announced a $130 million private placement financing, issuing 8.235 million shares at $8.50 each and pre-funded warrants for 7.06 million shares. This oversubscribed PIPE financing is expected to close on April 11. The funds will support the advancement of ACR-368 and other pipeline projects, with sufficient funding anticipated into the second half of 2026. ACRV shares surged 53.5% to $9.07 following the announcement.

Portfolio Pulse from Adam Eckert

April 09, 2024 | 1:52 pm

ALCC

FANG

AltC Acquisition Corp (ALCC) shares surged after announcing a Letter Of Intent (LOI) with Diamondback Energy Inc (FANG) for a 20-year power purchase agreement through its merger partner Oklo. The agreement aims to supply emission-free electricity to Diamondback's operations in the Permian Basin using Oklo's Aurora powerhouses. Oklo and AltC Acquisition Corp have a definitive business combination agreement, with the combined company set to trade under the ticker 'OKLO'.

Portfolio Pulse from Adam Eckert

April 09, 2024 | 1:47 pm

RKLB

Rocket Lab USA Inc (NASDAQ:RKLB) shares are trading higher after being awarded a $14.49 million launch contract by the U.S. Space Force for the Space Test Program-30 mission. The mission aims to deliver research experiments and technology demonstrations to orbit and is scheduled within 24 months. Wall Street analysts generally view RKLB as a Buy, despite a 27.55% fall in the past 3 months. The stock was up 2.37% at $3.86 at the time of publication.

Portfolio Pulse from Adam Eckert

April 09, 2024 | 1:45 pm

PZZA

Papa John's International Inc (NASDAQ:PZZA) is set to expand its presence in the US by opening 50 new restaurants by 2028 in partnership with franchisee Nadeem Bajwa and The Bajco Group. This move aligns with Papa John's Back to Growth Program, aimed at accelerating growth in North America and improving restaurant-level margins. The expansion will enhance Bajwa's portfolio, aiming for 500 Papa John's locations, and will focus on the Midwest, Arizona, Pennsylvania, and Florida.

Portfolio Pulse from Shivani Kumaresan

April 09, 2024 | 1:29 pm

WSR

Whitestone REIT has completed the acquisition of Scottsdale Commons, a retail property, for $22.2 million. This strategic move aims to enhance Whitestone's portfolio and presence in the Scottsdale area.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 1:21 pm

GIPR

Generation Income Properties (GIPR) announced that it will not provide guidance on future financial results or details on potential acquisitions and dispositions at this time.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 1:20 pm

DJT

Former President Donald Trump's net worth declined by over $2 billion after shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) plummeted nearly 44% from their peak. The stock's downturn follows demands for an investigation into its merger with Digital World Acquisition, despite CEO Devin Nunes asserting the company's strong financial position. Trump, holding a 57% stake and unable to sell until the lockup period ends, faces significant losses.

Portfolio Pulse from Rounak Jain

April 09, 2024 | 1:20 pm