Streetbeat News

Acquisitions Mergers

GCTS

GCT Semiconductor shares are experiencing a decline in their trading value due to market volatility after the company completed a business combination with Concord Acquisition Corp III and made its debut on the NYSE.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 2:33 pm

OWL

PLAY

SIG

Signet Jewelers Limited (NYSE:SIG) shares surged 9.2% after raising its FY25 guidance, alongside other stocks like Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) and Blue Owl Capital Inc. (NYSE:OWL) showing significant gains. The overall market saw an uptick, with the Dow Jones gaining over 50 points. Notable movements included Ocugen, Inc. (NASDAQ:OCGN) and Atai Life Sciences N.V. (NASDAQ:ATAI) receiving positive analyst ratings, and Spotify Technology S.A. (NYSE:SPOT) rising on price hike reports.

Portfolio Pulse from Avi Kapoor

April 03, 2024 | 2:31 pm

JNJ

NVDA

SWAV

The PCE Index report, seen as a key inflation metric by the Federal Reserve, showed mixed signals, leading to debates among hawks and doves regarding interest rate directions. Shockwave Medical ($SWAV) received a takeover offer from Johnson & Johnson (NYSE:JNJ), significantly boosting its stock price. Enrique Abeyta highlighted a technical indicator predicting stock market trends. Nvidia ($NVDA) lost a $750MM order to Samsung, marking its first loss of the year. Consumer confidence remains stable, but future expectations suggest a potential recession.

Portfolio Pulse from Gary Brode

April 03, 2024 | 2:23 pm

CCTS

VVPR

VivoPower International PLC (NASDAQ:VVPR) shares surged over 300% after announcing a stock buyback program and a merger between its Tembo subsidiary and Cactus Acquisition Corp. 1 Limited (NASDAQ:CCTS), with heavy trading volume. The stock's year-to-date gain is 120.19%, outperforming its historical averages, despite an RSI of 97.76 indicating overbought conditions.

Portfolio Pulse from Erica Kollmann

April 03, 2024 | 2:18 pm

ELEV

Traders are closely monitoring Elevation Oncology (ELEV) due to circulating M&A blog comments highlighting the company's attractiveness for mergers and acquisitions, particularly among ADC developers. The company's management team's transactional nature has significantly contributed to this interest.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 2:10 pm

ABIO

ARCA Biopharma Inc (NASDAQ:ABIO) and Oruka Therapeutics have announced a merger in an all-stock transaction. The merged entity, to be named Oruka Therapeutics Inc and trade under the ticker ORKA, will focus on developing treatments for chronic skin diseases. Oruka has secured $275 million in private investment to support operations through 2027 and the development of its key programs, ORKA-001 and ORKA-002. The merger, expected to close in Q3 2024, will see pre-merger ARCA stockholders owning about 2.38% of the new company. ABIO shares soared 106.40% to $3.49 following the announcement.

Portfolio Pulse from Vandana Singh

April 03, 2024 | 2:00 pm

GE Aerospace's stock is experiencing an uptick after the successful completion of the GE Vernova spin-off.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 2:00 pm

DIS

Vanguard, Disney's largest shareholder, has announced its support for Disney's management in the upcoming board vote against activist investor Nelson Peltz. BlackRock, the second-largest shareholder, also supports the current board. The decision has drawn criticism from investor Bill Ackman regarding the early release of voting information. The outcome of the vote, with major investors backing CEO Bob Iger, could significantly impact Disney's future direction.

Portfolio Pulse from Benzinga Neuro

April 03, 2024 | 1:50 pm

ABIO

CASA

KTRA

SINT

VIEW

VVPR

U.S. stocks edged lower following the release of positive ADP jobs data, indicating private businesses added 184,000 workers in March, surpassing expectations. Health care shares rose by 0.5%, while consumer staples fell by 0.5%. Kintara Therapeutics, ARCA biopharma, and VivoPower International saw significant stock increases due to merger agreements and a stock buyback program, respectively. Conversely, Casa Systems, View, Inc., and Sintx Technologies experienced substantial declines due to bankruptcy filings and a public offering.

Portfolio Pulse from Avi Kapoor

April 03, 2024 | 1:47 pm

TSLA

Tesla Inc (NASDAQ:TSLA) plans to scout locations in India for a new EV plant, focusing on states with automotive manufacturing or ports for export. The company intends to invest $2 billion to $3 billion in the factory. This move aligns with India's policy to lower import tariffs for automakers committing to local production within three years. Tesla is also constructing a plant in Mexico for a future lower-priced vehicle.

Portfolio Pulse from Anan Ashraf

April 03, 2024 | 1:42 pm