Streetbeat News

Acquisitions Mergers

NEM

Newmont (NYSE:NEM) has seen a surge in options activity, with 80% of trades showing bearish sentiment despite the stock's recent 1.92% increase to $34.96. Analysis of unusual trades reveals a price target range of $30.0 to $40.0. The company, the world's largest gold miner, recently acquired Newcrest, planning to sell 20% of its higher cost mines. Analysts have set an average target price of $43.5, with Scotiabank maintaining a Sector Perform rating at $43.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 2:19 pm

AMC

GME

RDDT

Reddit Inc (NYSE:RDDT) is making its public debut on the NYSE, with CEO Steve Huffman highlighting the company's commitment to retail investors by reserving 8% of IPO shares for its users and moderators. Reddit, known for its role in the meme stock phenomenon with stocks like GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC), warned of the risks associated with 'meme stock' schemes in its S-1 filing. The IPO is priced at $34 a share, valuing Reddit at around $6.5 billion.

Portfolio Pulse from Adam Eckert

March 21, 2024 | 2:16 pm

RTX

Raytheon, a business unit of RTX (NYSE:RTX), has been awarded a $1.2 billion contract to supply Germany with additional Patriot air and missile defense systems. This contract includes the latest Patriot Configuration 3+ radars, launchers, command and control stations, and associated support, enhancing Germany's air defense capabilities and interoperability with allies.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 2:13 pm

AXL

Traders are closely watching American Axle & Manufacturing (AXL) as shares experience increased volume following a blog post suggesting that the company is a target for acquisition.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 1:37 pm

ILMN

Illumina's stock price increased following a European court decision that EU antitrust regulators overstepped their authority by obstructing Illumina's acquisition of Grail.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 1:14 pm

BMY

The European Commission approved Bristol Myers Squibb's Abecma for early treatment of relapsed and refractory multiple myeloma, marking it as the first CAR-T therapy for this condition in the EU. Additionally, the company announced positive results from a trial of Opdivo plus Yervoy for advanced hepatocellular carcinoma, showing significant improvement in overall survival. BMY shares rose 0.29% in premarket trading.

Portfolio Pulse from Vandana Singh

March 21, 2024 | 1:10 pm

ATLX

SGML

Atlas Lithium Corporation (NASDAQ:ATLX) has announced the appointment of Brian Talbot as Chief Operating Officer and Board member, effective April 1, 2024. Talbot, a lithium industry veteran with a strong background in development and operations, joins Atlas Lithium as the company prepares for its first production and revenue in Q4 2024. Talbot's previous roles include COO at Sigma Lithium Corporation (NASDAQ:SGML) and positions at Galaxy Resources, now part of Arcadium Lithium PLC.

Portfolio Pulse from Anusuya Lahiri

March 21, 2024 | 1:04 pm

AMTX

Aemetis, Inc. (AMTX) shares surged following the announcement of a $200 million EB-5 program investment approval by the U.S. Citizenship and Immigration Services. This investment is designated for several of Aemetis' projects including the Riverbank sustainable aviation fuel production plant, the dairy renewable natural gas project, the carbon sequestration project, and energy efficiency upgrades to the Keyes ethanol plant.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 1:01 pm

SNDL

SNDL Inc. reported a record net revenue of CA$909 million for 2023, a 28% increase from 2022, and positive free cash flow in the second half of the year. The company, under CEO Zach George's leadership, has seen significant financial and operational improvements, including the acquisition of The Valens Company Inc. SNDL's shares rose 1.31% in pre-market trading following the announcement.

Portfolio Pulse from Jelena Martinovic

March 21, 2024 | 12:57 pm

ALAB

AMD

AMZN

INTC

NVDA

Astera Labs Inc (NASDAQ:ALAB), a provider of semiconductor connectivity solutions, surged 72% in its Nasdaq debut, closing at $62.03 and reaching a market cap of $9.5 billion. The company raised $700 million in its IPO, highlighting strong demand for AI technologies. Astera Labs supplies to major tech companies like Nvidia, AMD, Intel, and Amazon, positioning it as a significant player in the AI infrastructure ecosystem. Amazon's strategic investment in Astera Labs further emphasizes its potential in the AI space.

Portfolio Pulse from Surbhi Jain

March 21, 2024 | 12:56 pm