Streetbeat News

Acquisitions Mergers

NEM

Newmont Corp. has initiated the sale of its Akyem gold mine in Ghana, drawing interest from several potential bidders, including Chinese producers Shandong Gold Mining Co. and Zijin Mining Group Co., amid rising gold prices. The sale process is being facilitated by Citigroup Inc. Other firms like China's Chifeng Gold and Australia's Perseus are also reviewing the asset.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 4:58 pm

MRNO

Murano Global Investments PLC (NASDAQ:MRNO) shares surged over 50% on Friday after a significant drop of 47% on Thursday. This volatility follows the announcement of Murano's business combination with HCM Acquisition Corp, leading to the start of trading under the ticker MRNO on Thursday. Murano, a real estate firm focusing on properties in Mexico, does not pay dividends but engages in other value-returning activities. Trading volume spiked, causing a temporary halt on Friday.

Portfolio Pulse from Erica Kollmann

March 22, 2024 | 4:54 pm

MRNO

Murano Global Investments' shares are experiencing increased trading activity and volatility after the company completed a business combination with HCM Acquisition Corp and made its debut on Nasdaq earlier this week.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 4:53 pm

MPLX

SMLP

Summit Midstream Partners, LP (NYSE:SMLP) shares surged after announcing the sale of Summit Midstream Utica to MPLX LP for $625 million in cash. This transaction reduces Summit's net leverage and aligns with its strategic goals, including a focus on crude oil-oriented basins and potential for further growth and acquisitions. The deal also improves liquidity and leads to an updated 2024 Adjusted EBITDA guidance.

Portfolio Pulse from Nabaparna Bhattacharya

March 22, 2024 | 4:35 pm

HPCO

ISPR

Ispire Technology Inc. (NASDAQ:ISPR), a company specializing in e-cigarettes and cannabis vaping products, announced a public offering of 2.05 million shares at $6 each, aiming to raise $12.3 million. The funds are intended for the establishment of a manufacturing facility in Malaysia, funding a joint venture, and general corporate purposes. The company's cannabis business has shown significant growth, with a 30.7% increase in revenue year-over-year. Ispire has partnerships with celebrities like Snoop Dogg and Burna Boy for product endorsements. Following the announcement, ISPR shares dropped 27.91% to $5.85. Hempacco Co., Inc. (NASDAQ:HPCO) also has a distribution agreement with Ispire's subsidiary.

Portfolio Pulse from Jelena Martinovic

March 22, 2024 | 4:23 pm

BIOL

CUTR

ISPR

NKE

OTLK

SINT

SMLP

U.S. stocks traded lower with the Dow Jones falling over 200 points. Nike Inc shares dropped more than 8% after Q3 results, beating revenue and EPS estimates but still saw a decline. Summit Midstream Partners, Outlook Therapeutics, and BIOLASE saw significant gains after positive announcements. Conversely, Cutera, Sintx Technologies, and Ispire Technology experienced notable drops following disappointing financial results and public offering announcements. Oil and gold prices also fell slightly.

Portfolio Pulse from Avi Kapoor

March 22, 2024 | 4:18 pm

AAPL

IWM

LULU

NKE

The article discusses opportunities in small and micro caps, highlighting the iShares Russell 2000 ETF (IWM) and its potential for significant growth. It mentions the Fed's decision to ignore inflation as positive for these caps. It also covers the impact of an antitrust lawsuit on Apple Inc (AAPL), causing a significant market value loss. Additionally, it notes the performance of various companies and ETFs, including Nike (NKE) and Lululemon Athletica (LULU), following earnings reports. The article also touches on China's currency weakening, money flows in major tech stocks, and the performance of gold, oil, and Bitcoin.

Portfolio Pulse from The Arora Report

March 22, 2024 | 4:08 pm

STLA

China's Leapmotor has partnered with Stellantis N.V. (NYSE:STLA) to produce small electric vehicles in Poland, utilizing the semi-knocked down technique. This strategic move aims to expand into the European market and is supported by Stellantis' acquisition of a 21% stake in Leapmotor. The production will begin in the second quarter of this year at Stellantis' facility in Tychy. Additionally, Stellantis has exclusive rights to manufacture, export, and distribute Leapmotor products outside China, following regulatory approval for their joint venture.

Portfolio Pulse from Shivani Kumaresan

March 22, 2024 | 4:03 pm

BAC

BSX

LRCX

UBER

XOM

Benzinga's Stock Whisper Index highlights five stocks: Uber Technologies, Boston Scientific Corporation, Exxon Mobil Corporation, Lam Research Corporation, and Bank of America Corporation. These stocks are gaining investor attention due to various factors such as Uber's expansion in Europe, Boston Scientific's FDA approvals, Exxon's strategic petroleum reserve acquisition, Lam Research's supply chain diversification, and Bank of America's potential gains from regional bank pressures. Each company is experiencing positive developments that could influence their stock prices in the short term.

Portfolio Pulse from Chris Katje

March 22, 2024 | 3:27 pm

ASML

BABA

BIDU

NVDA

Huawei Technologies Co and a Chinese chipmaking partner have developed a patent for self-aligned quadruple patterning (SAQP), potentially bypassing the need for ASML Holding NV's EUV lithography machines, which are restricted from sale to China by US export controls. This development could allow for the production of advanced semiconductors without ASML's technology. Following this news, ASML's stock price fell. Additionally, Huawei's advancements in semiconductor technology and strategic moves, such as outbidding Nvidia Corp for a significant AI chip order from Baidu Inc, alongside Alibaba Group Holding Limited's reported plans to reduce Nvidia chip orders, highlight a shift in the semiconductor landscape.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 2:30 pm