Streetbeat News

Acquisitions Mergers

EQT

ETRN

JPMorgan analyst Arun Jayaram adjusted ratings for two natural gas stocks, upgrading Antero Resources (AR) to Overweight with a price target of $30, citing its low gas price breakeven and nearly unhedged position in 2024+. EQT Corp (EQT) was downgraded to Neutral with a price target of $37, following its $5.4 billion merger with Equitrans Midstream (ETRN), which includes assuming $7.5 billion of debt. This merger is seen as a move to lower EQT's cost structure amid expected volatility but may delay shareholder returns due to the debt target.

Portfolio Pulse from Priya Nigam

March 20, 2024 | 8:36 pm

BREZ

Breeze Holdings Acquisition Corp. has received approval from the Nasdaq Panel to continue its listing on the exchange. This approval is contingent on the company completing its initial business combination by May 28, 2024. This development is crucial for Breeze Holdings as it seeks to finalize a significant business combination within the given timeframe.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 8:35 pm

INDI

indie Semiconductor's stock is trading higher following the announcement of a strategic investment in Expedera. This move is seen as a positive development for indie Semiconductor, indicating potential growth and expansion through collaboration with Expedera.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 8:15 pm

INDI

indie Semiconductor announced a strategic minority investment in Expedera, including the addition of Donald McClymont to Expedera's Board of Directors. The terms of the investment were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 8:07 pm

INDI

indie Semiconductor has announced a minority investment in Expedera, a company specializing in AI processors. This strategic investment aims to enhance indie Semiconductor's capabilities in AI and expand its market reach.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 8:06 pm

FPOCF

LITOF

MSBHF

SMMYY

FPX Nickel Corp. (OTC:FPOCF) has secured funding through 2025 with the backing of Sumitomo Metal Mining (OTC:SMMYY) and other strategic partners, despite a challenging financing market for junior mining companies. This funding, crucial for FPX's exploration of nickel for electric vehicle batteries, highlights a trend where battery and EV manufacturers invest in miners to secure future metal supplies. Other companies like Mitsubishi Corp. (OTC:MSBHF) and Frontier Lithium Inc. (OTC:LITOF) have also engaged in similar strategic investments.

Portfolio Pulse from Matt Whittaker

March 20, 2024 | 8:03 pm

AQST

ETAO

LFCR

SIG

TRUG

XTLB

U.S. stocks rose after the Federal Reserve left interest rates unchanged, with the Dow, NASDAQ, and S&P 500 all posting gains. Industrials and health care sectors saw mixed performance. Several companies experienced significant stock movements, including ETAO International, XTL Biopharmaceuticals, and TruGolf Holdings seeing sharp increases, while Lifecore Biomedical, Aquestive Therapeutics, and Signet Jewelers reported declines. The Fed's decision to maintain rates between 5.25% and 5.5% was anticipated, aligning with investor expectations.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 7:22 pm

PARA

Paramount shares are trading higher after a report that Apollo offered $11 billion for its Hollywood studio.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 7:08 pm

RIO

Rio Tinto (NYSE:RIO) announced a $350 million investment in its Rincon lithium project in Argentina, aiming to expand the plant and support the EV market with high-quality lithium. This move highlights Argentina's growing role in the global lithium market, with the country's production increasing by 45% from 2022 to 2023. The Rincon project, part of the lithium-rich Salta province, aims for first lithium production by year's end, aligning with Rio Tinto's decarbonization goals.

Portfolio Pulse from Stjepan Kalinic

March 20, 2024 | 6:53 pm

CMPS

CYBN

MNMD

PSIL

Cybin Inc. received FDA Breakthrough Therapy designation for its psilocybin therapy for Major Depressive Disorder, alongside positive clinical data and a $150M private placement. MindMed also received the designation for its LSD-derived treatment for Generalized Anxiety Disorder, with expected proceeds of $175M from share offerings. Gilgamesh Pharmaceuticals was awarded a $14M grant for ibogaine analog research. Psyence Biomedical, Red Light Holland, and Clearmind Medicine were mentioned for their developments in psychedelics. The article also covered stock performances of several psychedelics companies.

Portfolio Pulse from Lara Goldstein

March 20, 2024 | 6:49 pm