Streetbeat News

Acquisitions Mergers

DOW

Dow Chemical Company (NYSE:DOW) announced its plan to invest in a new world-scale carbonate solvents facility in the U.S. Gulf Coast to support the electric vehicle (EV) and energy storage markets. This facility, selected for award negotiations by the U.S. Department of Energy, aims to capture over 90% of CO2 from its manufacturing process, aligning with Dow's decarbonization strategy and the U.S. government's goals to reduce greenhouse gas emissions. The project is backed by agreements with leading EV manufacturers and electrolyte manufacturers, enhancing Dow's MobilityScience portfolio.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:08 pm

ABBV

AKAN

CYTO

FSR

LABP

NKTX

SINT

U.S. stocks traded lower with the Dow Jones, NASDAQ, and S&P 500 all seeing declines. Energy shares rose by 1%, while communication services fell by 0.5%. Sales of new single-family houses in the U.S. dropped slightly. Landos Biopharma's stock surged 170% after announcing AbbVie will acquire it. Nkarta and Altamira Therapeutics also saw significant gains, while Sintx Technologies, Akanda Corp., and Fisker Inc. experienced sharp declines.

Portfolio Pulse from Avi Kapoor

March 25, 2024 | 4:07 pm

AMZN

GOOG

GOOGL

FTX is planning to sell two-thirds of its stake in Anthropic for $884 million, according to a report by the Wall Street Journal. This move is significant for the cryptocurrency exchange and could have implications for its financial strategy and market position.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:07 pm

HMC

NSANY

TSLA

Nissan Motor Co Ltd (OTC:NSANY) announced the launch of 30 new models over the next three years, with 16 being electrified, in response to the rapid developments in the EV industry. This move contrasts with other automakers like Tesla Inc (NASDAQ:TSLA), Ford Motor (NYSE:F), and General Motors (NYSE:GM), which are bracing for cooling EV demand. Nissan aims to sell an additional 1 million vehicles by fiscal year 2026, targeting an operating profit margin of over 6% and total shareholder returns of over 30%. The company is also exploring a strategic partnership with Honda Motor Co Ltd (NYSE:HMC) to produce key EV components and develop AI in automotive software platforms.

Portfolio Pulse from Upwallstreet

March 25, 2024 | 4:07 pm

ABBV

CERE

LABP

AbbVie Inc (NYSE:ABBV) has agreed to acquire Landos Biopharma Inc (NASDAQ:LABP) for $20.42 per share, totaling approximately $137.5 million, plus contingent value rights potentially adding $75 million. The acquisition focuses on Landos' lead asset, NX-13, aimed at treating ulcerative colitis and Crohn's disease. Additionally, AbbVie recently acquired ImmunoGen, adding Elahere to its portfolio, and agreed to acquire Cerevel Therapeutics Holdings Inc (NASDAQ:CERE) to expand its neuroscience presence.

Portfolio Pulse from Vandana Singh

March 25, 2024 | 4:06 pm

VIVK

Vivakor's shares are trading lower following the announcement of a definitive Membership Interest Purchase Agreement to acquire Endeavor Entities.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:05 pm

Unilever Plc (NYSE:UL) is considering Amsterdam over London for the potential listing of its €17 billion ice cream unit, which includes brands like Ben & Jerry's and Magnum. The Dutch government is advocating for this move, aligning with Unilever's previous commitments. CEO Hein Schumacher mentioned ongoing discussions with the Dutch Finance Ministry and various options, including an IPO, are being considered with a decision expected in the next 18 months. UL shares rose 0.30% to $50.14.

Portfolio Pulse from Shivani Kumaresan

March 25, 2024 | 4:05 pm

DWAC

Digital World Acquisition Corp (NASDAQ:DWAC) shares rose after shareholders approved its merger with Trump Media & Technology Group Corp. The merger's approval was announced after market close on Friday, with a significant majority in favor. Post-merger, Trump Media & Technology Group Corp will trade on Nasdaq under the symbols 'DJT' and 'DJTWW'. DWAC's stock was up 8.69% at $40.13 at the time of publication.

Portfolio Pulse from Adam Eckert

March 25, 2024 | 4:05 pm

DJT

DWAC

The SPAC merger between Digital World Acquisition Corporation (DWAC) and Trump Media & Technology Group (TMTG) was approved, with TMTG set to debut on Nasdaq under the ticker DJT. Shareholders who redeemed shares at net asset value missed out on higher market prices. DWAC's stock is expected to see significant volatility.

Portfolio Pulse from Chris Katje

March 25, 2024 | 4:05 pm

ABBV

LABP

Landos Biopharma's stock price increased following the announcement of a definitive agreement for its acquisition by AbbVie.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:04 pm