Streetbeat News

Acquisitions Mergers

DJT

Rumble CEO Chris Pavlovski congratulated one of their largest cloud partners and advertising publishers, $DJT, on going public. He credited Devin Nunes for his significant role in this achievement. The news was shared on X, leading to increased trading volume for $DJT.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 3:50 pm

AMKBY

BOAT

CCL

F

GM

GOGL

RCL

SBLK

The collapse of the Francis Scott Key Bridge in Baltimore, caused by the container ship Dali operated by Synergy Group and chartered by AP Moller Maersk (OTC:AMKBY), has significant implications for global trade, particularly affecting shipping routes and supply chains. Baltimore, a crucial U.S. port, has suspended vessel traffic, impacting the automobile industry and shipping lines. Shares of Maersk were down nearly 6%, while the SonicShares Global Shipping ETF (NYSE:BOAT) and stocks of companies within it, such as Golden Ocean Group Ltd (NASDAQ:GOGL) and Star Bulk Carriers Corp (NASDAQ:SBLK), also saw declines. Conversely, shares of U.S. carmakers General Motors Company (NYSE:GM) and Ford Motor Company (NYSE:F), and cruise lines Carnival Corp (NYSE:CCL) and Royal Caribbean Cruises Ltd (NYSE:RCL), were trading higher.

Portfolio Pulse from Neil Dennis

March 26, 2024 | 3:32 pm

KULR

LMT

KULR Technology Group, Inc. (NYSE:KULR) shares surged after receiving a significant six-figure contract from Lockheed Martin Corporation (NYSE:LMT) to develop phase change material heat sinks for thermal regulation of electronics in long-range precision missiles. This contract, following successful evaluations of KULR's cooling solutions, highlights its role in innovative thermal management for high-stakes applications.

Portfolio Pulse from Lekha Gupta

March 26, 2024 | 3:29 pm

MMM

3M (NYSE:MMM) has invested in EVOLOH, a cleantech company focusing on scaling up electrolyzer manufacturing for affordable and efficient green hydrogen production. This investment is part of 3M's commitment to supporting the hydrogen economy and clean energy transition. EVOLOH's technology, which does not require precious metals or rare earth materials, aims to lower the costs of electrolyzer modules, installation, and maintenance. 3M Ventures participated in EVOLOH's $20 million Series A fundraising to help scale manufacturing capabilities. This move aligns with 3M's broader initiatives in hydrogen technology development, including high-performance catalyst technology and a joint project with HD Hyundai for hydrogen storage solutions.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 3:01 pm

NTHI

NEONC TECHNOLOGIES HOLDINGS, INC (NASDAQ:NTHI) is set to begin trading on NASDAQ on March 27, with an IPO price range between $11.25 and $13.75 per share. The company, focusing on developing new drugs for melanoma, breast, and lung cancer, has an insider lock-up period ending on September 23, 2024.

Portfolio Pulse from Benzinga Insights

March 26, 2024 | 3:00 pm

RCAT

Red Cat Holdings, Inc. (NASDAQ:RCAT) has secured $2.5 million in contracts with two NATO allied countries for its Teal 2 drone systems, training, and accessories, expected to be delivered by the end of March. The contracts align with Red Cat's global sales expansion strategy and underscore its commitment to supporting NATO allies with advanced, American-made drone technology. The Teal 2 drones are designed for military, public safety, and government use, featuring night vision, thermal imaging, and AI capabilities. Red Cat plans to further its international business development by participating in the FIDAE 2024 conference in Santiago, Chile.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:35 pm

EPAM

EPAM Systems, Inc. has acquired Vates S.A., a software development company with offices in Argentina and Chile, to enhance its software development portfolio and expand its delivery capabilities in Latin America. This acquisition adds hundreds of skilled engineers to EPAM's team, strengthening its position in cloud, testing, and Atlassian platform knowledge. Vates, known for its end-to-end solutions across multiple industries, will help EPAM in delivering advanced digital services and fostering growth in LATAM.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:06 pm

DTSS

Datasea Inc. (NASDAQ:DTSS) has signed a $30M 5G AI Multimodal Communication Cooperation Agreement with Xiamen Star Miracle Information Technology Co., Ltd., expected to boost its China 5G services revenue. This agreement supports Datasea's revenue guidance of $86M for the fiscal year, marking a 1,128% YoY increase. The deal highlights Datasea's capabilities in AI-5G services and its aim to expand market share in China's 5G communication sector.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:05 pm

CCL

Carnival Corporation & plc (CCL) has finalized an agreement with Meyer Werft for a fifth Excel-class cruise ship for Carnival Cruise Line, scheduled for delivery in 2028. This addition confirms an 11th Excel-class ship across four of its brands, emphasizing Carnival's commitment to growth and operational efficiency. The new ship, like its predecessors, will be LNG-powered and designed to carry over 6,400 guests and 1,800 crew. This order aligns with Carnival's strategy for measured capacity growth and is contingent upon financing expected to be completed later this year.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:03 pm

DJT

Trump Media & Technology Group Corp (NASDAQ:DJT) stock is trending after completing its merger with Digital World and starting to trade on Nasdaq. The merger was approved by shareholders, and the company began trading under the ticker symbol 'DJT', a homage to Donald Trump. The company aims to offer a platform for free speech and has seen significant price action, with shares closing up 41.61% at $70.74.

Portfolio Pulse from Adam Eckert

March 26, 2024 | 1:52 pm