Streetbeat News

Acquisitions Mergers

ARKK

ARKW

COIN

HOOD

TSLA

Cathie Wood's Ark Invest purchased $22M worth of Tesla shares amid a 3.6% stock plunge, triggered by rumors of Tesla potentially cancelling its sub-$30,000 EV model. Despite the market's reaction and concerns over Tesla's strategy, Ark Invest's confidence in Tesla remains strong, highlighted by a $2,000 price target for 2027. Additionally, Ark Invest sold shares of Coinbase and Robinhood, reducing its exposure to crypto-linked stocks.

Portfolio Pulse from Shanthi Rexaline

April 06, 2024 | 3:22 am

TCN

Tricon Residential Inc. (NYSE:TCN) has received final court approval for its acquisition by Blackstone Real Estate, with all outstanding shares to be acquired for $11.25 each in cash. The transaction, subject to regulatory approval, is expected to close in Q2, leading to Tricon's delisting from the NYSE and TSX.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 9:06 pm

TTNP

The Sire Group Ltd plans to propose a business combination between Titan Pharmaceuticals Inc (TTNP) and KE Sdn. Bhd., a Malaysian company. This follows changes in Titan's board, with four of the seven directors now nominated by The Sire Group. The proposal is subject to negotiation and execution of definitive documents by independent directors of Titan.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 8:45 pm

GILD

XLO

Gilead Sciences, Inc. has reported a 19.9% stake in Xilio Therapeutics as of March 27, 2024, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 8:40 pm

CVX

HES

Hess Corp announced a special meeting of stockholders to vote on a proposed merger with Chevron. This vote will be separate from the annual meeting and is scheduled for May 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 8:38 pm

AMZN

GOOG

Decentralized Infrastructure Physical Networks (DePINs), leveraging blockchain technology, aim to disrupt tech monopolies by enabling decentralized access and management of internet, energy, and storage services. Highlighting the potential to democratize infrastructure, DePINs could offer solutions to underserved areas, incentivize participation through crypto tokens, and foster competition against centralized giants like Google and Amazon. Challenges include regulatory uncertainty and ensuring data privacy, but the initiative aligns with the broader Web3 vision of user control and data sovereignty.

Portfolio Pulse from Chris Were

April 05, 2024 | 8:29 pm

AAPL

AMZN

DIS

LLY

NKLA

XLE

Recent economic data and Federal Reserve officials' remarks have led investors to adjust expectations for interest rate cuts, as the U.S. economy shows resilience with job growth and manufacturing expansion. Energy stocks, particularly the Energy Select Sector SPDR Fund, benefited from rising oil prices. Apple is refocusing on home robotics, potentially entering a new market. Disney's board received strong shareholder support, affirming CEO Bob Iger's leadership. Eli Lilly faces supply challenges for its popular weight loss drugs on Amazon Pharmacy. Nikola Corp outperformed other EV stocks, including Tesla, Rivian, and Lucid, highlighting its recovery and focus on hydrogen fuel cell trucks.

Portfolio Pulse from Piero Cingari

April 05, 2024 | 8:23 pm

AIR

AAR CORP. (NYSE:AIR) has initiated the expansion of its MRO facility in Oklahoma City, with the new facility expected to be operational by early 2026. This expansion, supported by a grant and rent concessions, aims to accommodate all 737 variants and is in line with a recently expanded maintenance commitment from Alaska Airlines. The project, which will create 200 additional full-time jobs, underscores AAR's growth and its collaboration with local and state entities, including the Oklahoma City Airport Trust.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 7:14 pm

CRH

CRH has acquired BoDean Company Inc. and Northgate Ready Mix, LLC, marking its first entry into the California market. These acquisitions add significant resources to CRH's Materials Solutions business, including two aggregates quarries, two ready mixed concrete plants, one asphalt plant, and one recycle plant, enhancing its offerings in Northern California. The move is part of CRH's strategy to capitalize on the construction market in California, one of the largest in the U.S., and to provide integrated solutions to customers with a focus on quality, innovation, and sustainability.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 7:13 pm

SPNS

Sapiens International is reportedly exploring a sale, according to sources cited by Reuters. This news could indicate a significant shift in the company's strategy and potentially impact its stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 6:58 pm