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Acquisitions Mergers

DIS

Media industry veteran Tom Rogers criticized Disney's board for being 'too deferential' towards CEO Bob Iger, particularly highlighting the acquisition of 21st Century Fox as a poor decision. The remarks come amid a proxy war involving Iger and activist investor Nelson Peltz, who seeks a board position. Despite Iger's support, Rogers suggests the board could benefit from new voices. Disney's stock saw a slight increase, closing 0.48% higher at $119.93.

Portfolio Pulse from Benzinga Neuro

March 27, 2024 | 12:12 pm

DIS

Egan-Jones and ISS recommend Disney shareholders vote 'FOR' Nelson Peltz and Jay Rasulo for the board, citing the need for change due to Disney's lack of a long-term succession plan, a disconnected board, an outdated business model, a desire to maintain the status quo, and mediocre financial performance. Shareholders are urged to vote 'WITHHOLD' on Maria Elena Lagomasino and Michael B.G. Froman before the April 3, 2024, annual meeting.

Portfolio Pulse from Happy Mohamed

March 27, 2024 | 12:08 pm

ACN

Accenture (NYSE:ACN) has invested in Sanctuary AI, a company developing AI-powered humanoid robots designed to work alongside humans in various industries. Sanctuary AI's robot, Phoenix, has demonstrated the ability to perform over 100 tasks with human-like dexterity. This investment is part of Accenture Ventures' Project Spotlight, aiming to bridge innovation gaps by connecting startups with Accenture's global client base. The move aligns with Accenture's vision of integrating human-centric technology in the workforce, as highlighted in their Technology Vision 2024 report.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 12:03 pm

MDGS

Medigus Ltd. (NASDAQ:MDGS), through its subsidiary Fuel Doctor Holdings, Inc., announced that its EV joint venture, Revoltz Ltd, has completed the first production batch of 50 PORTO micro-mobility electric vehicles. This marks a significant step in fulfilling a $2.7 million distribution agreement aimed at selling 150 vehicles in Israel and adjacent territories within the first year. The PORTO EV, designed for the last-mile delivery market, offers a 100 km range on a single charge and features an advanced tilting suspension mechanism for stability.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 12:02 pm

MRDB

PRGS

MariaDB shares have seen an increase in trading volume and price following an announcement by Progress Software that it is contemplating making an offer to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:59 am

GCTS

GCT Semiconductor has become a publicly traded company following a business combination with Concord Acquisition Corp III. It now trades on the NYSE under the ticker symbol 'GCTS'.

Portfolio Pulse from Charles Gross

March 27, 2024 | 11:48 am

AVIV

GSIB

HSBC

HSBC Holdings plc (NYSE:HSBC) announced the launch of a $150 million Venture Debt offering and a $1 billion ASEAN Growth Fund in Singapore, aimed at scaling high-growth companies and digital platform businesses. The offerings are designed to provide flexible financing solutions for various funding requirements and complement HSBC's existing $200 million New Economy Fund. Additionally, HSBC plans to hire about 50 more bankers in the U.S. to lend to startups, mainly in technology and healthcare. Investors can gain exposure to HSBC through Themes Global Systemically Important Banks ETF (NASDAQ:GSIB) and Avantis International Large Cap Value ETF (NYSE:AVIV). HSBC shares are down 1.34% in premarket trading.

Portfolio Pulse from Lekha Gupta

March 27, 2024 | 11:47 am

NVS

PYXS

Pyxis Oncology has finalized the sale of its royalty rights for Beovu (Brolucizumab-dbll) and another asset to Novartis for $8 million. This transaction provides Pyxis with immediate capital, potentially impacting its financial flexibility and future revenue streams.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:39 am

VFS

VinFast Auto Ltd (NASDAQ:VFS) has signed letters of intent with 15 dealers in Thailand to expand its distribution network, planning to open 22 showrooms in the Greater Bangkok Area and other major cities. This move is part of VinFast's strategy to leverage Thailand's high electric vehicle adoption rate and its goal to expand to at least 50 countries by 2024. VFS shares rose 0.85% to $4.74 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 27, 2024 | 11:35 am

AMD

INTC

NVDA

SK Hynix expects its high-bandwidth memory (HBM) chips, used in AI chipsets, to make up a significant portion of its DRAM sales by 2024, benefiting Nvidia as a key recipient. SK Hynix, a leading supplier of HBM3 chips to Nvidia, anticipates these chips will represent 15% of global DRAM sales in 2024, up from 8% in 2023. The company also plans a $4 billion chip-packaging facility in Indiana, supported by the U.S. Chips Act. This development comes amid heightened U.S.-China semiconductor tensions, with China reducing its reliance on U.S. microprocessors from Intel and AMD.

Portfolio Pulse from Anusuya Lahiri

March 27, 2024 | 11:30 am