Streetbeat News

Acquisitions Mergers

ATLX

Atlas Lithium has made significant progress in its Salinas Project with the discovery of spodumene-rich pegmatites. This positions Salinas as a key growth area, especially with the nearby $370M acquisition of Latin Resources by Pilbara. The focus remains on bringing the Neves Project to production for initial lithium concentrate output in Brazil's Lithium Valley.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 4:18 pm

BITF

BTDR

CORZ

RIOT

Riot Platforms Inc (NASDAQ:RIOT) is exploring AI opportunities while maintaining its primary focus on Bitcoin mining. CEO Jason Les mentioned potential AI collaborations, but emphasized the company's commitment to Bitcoin. Riot's stock has risen 17.3% in the past month, and Bernstein raised its price target to $22, maintaining an 'Outperform' rating.

Portfolio Pulse from Ivan Crnogatić

October 07, 2024 | 4:11 pm

AZN

HRTG

NAPA

SRRK

TRVN

UVE

U.S. stocks traded lower with the Dow Jones falling over 200 points. Scholar Rock shares surged 310% after positive clinical trial results. AstraZeneca entered a licensing agreement with CSPC Pharmaceutical. Duckhorn Portfolio shares rose 102% following strong earnings and acquisition news.

Portfolio Pulse from Avi Kapoor

October 07, 2024 | 4:00 pm

APO

Barnes Group, Inc. (NYSE:B) is set to be acquired by Apollo Global Management, Inc. (NYSE:APO) in a $3.6 billion all-cash deal. Barnes shareholders will receive $47.50 per share, a 22% premium over the June 25, 2024 closing price. The transaction is expected to close by Q1 2025, after which Barnes will be delisted and operate privately. Barnes has suspended its 2024 financial guidance due to the acquisition.

Portfolio Pulse from Lekha Gupta

October 07, 2024 | 3:54 pm

MYTE

MYT Netherlands Parent B.V. (NYSE:MYTE), known as Mytheresa, is trading higher after agreeing to acquire YOOX NET-A-PORTER from Richemont. Richemont will receive a 33% equity stake in Mytheresa and provide a $109 million credit facility to YNAP. The deal is expected to close in the first half of 2025.

Portfolio Pulse from Dylan Berman

October 07, 2024 | 3:36 pm

CURLF

MRMD

Curaleaf and MariMed, two major cannabis companies, are set to report their Q3 2024 earnings on November 6. Curaleaf has been expanding internationally, while MariMed is focusing on margin expansion and new assets. Both companies' executives will speak at the Benzinga Cannabis Conference.

Portfolio Pulse from Jelena Martinovic

October 07, 2024 | 3:31 pm

GTE

Gran Tierra Energy's acquisition of i3 Energy has been approved by i3 Energy shareholders, marking a significant step towards the completion of the deal. The acquisition is expected to be finalized by October 31, 2024, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 3:23 pm

GLTO

Galecto Inc (NASDAQ:GLTO) shares fell 27% to $8.50 after issuing shares to acquire rights to BRM-1420 from Bridge Medicines. The acquisition aligns with Galecto's strategic shift towards cancer and liver disease treatments. The transaction involves issuing common and preferred shares, with Bridge Medicines' CEO joining Galecto's executive team.

Portfolio Pulse from Henry Khederian

October 07, 2024 | 3:23 pm

LLY

NVO

Rivus Pharmaceuticals, an obesity drugmaker, is considering an IPO potentially raising over $250 million. This move could impact the competitive landscape for existing obesity drug companies like Eli Lilly (LLY) and Novo Nordisk (NVO).

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 3:14 pm

MVPA

OCTA

TTE

TotalEnergies SE (NYSE:TTE) has acquired a 50% stake in two offshore wind projects in the North Sea from RWE AG, enhancing its renewable energy portfolio. The projects, with a combined capacity of 4 GW, will complement TotalEnergies' existing assets and are expected to be operational by 2031-2032. This move aligns with TotalEnergies' strategy to invest in low-carbon energies.

Portfolio Pulse from Lekha Gupta

October 07, 2024 | 3:11 pm