Streetbeat News

Acquisitions Mergers

AMZN

CRM

FTEC

MSFT

XLK

Microsoft Corp has decided to sell its Teams application separately from its Office suite globally to address antitrust concerns, following a similar move in Europe six months earlier. This decision comes after an investigation by the European Commission, triggered by a complaint from Slack, owned by Salesforce Inc. Despite these changes, Microsoft may still face EU antitrust charges related to pricing and interoperability issues. Microsoft is also engaging with CISPE, including Amazon.Com Inc, to address a complaint about its cloud computing licensing practices. The stock has gained over 46% in the last 12 months, with exposure available through SPDR Select Sector Fund – Technology and Fidelity MSCI Information Technology Index ETF.

Portfolio Pulse from Anusuya Lahiri

April 01, 2024 | 10:17 am

ZPTA

Zapata AI's shares started trading on Monday after the company completed its merger with Andretti Acquisition. Following the merger, Zapata AI's shares saw a significant increase, rising 200% in premarket trading.

Portfolio Pulse from Charles Gross

April 01, 2024 | 9:46 am

FWONA

FWONK

Liberty Media Corporation (NASDAQ:FWONA, FWONK) has announced its agreement to acquire Dorna Sports, the exclusive commercial rights holder to the MotoGP World Championship, from Bridgepoint and Canada Pension Plan Investment Board for an enterprise value of €4.2B and an equity value of €3.5B. The deal involves Liberty Media acquiring 86% of MotoGP, with the remaining 14% retained by MotoGP management. The transaction will be paid through 65% cash, 21% in FWONK shares, and 14% retained equity, with the option for Liberty Media to pay additional cash instead of FWONK shares.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 9:34 am

VWAGY

XPEV

XPeng (NYSE:XPEV), a Chinese electric vehicle manufacturer, has announced its entry into the German market, challenging Volkswagen (OTC:VWAGY) and other automakers. The launch is part of XPeng's European expansion, with vehicle sales in Germany starting in May. XPeng plans to showcase its G9 SUV and P7 sports sedan at 24 retail locations across Germany, aiming for a 3% market share in the new energy vehicle segment by year-end. This move comes as BEV sales in Germany saw a 15.4% decline, despite a modest 9% growth in the EU. Volkswagen leads EU auto sales, with an 11.5% increase in registrations year-on-year.

Portfolio Pulse from Anan Ashraf

April 01, 2024 | 9:21 am

MCAF

CH Auto Technology and Mountain Crest Acquisition Corp. IV have completed a transformative business combination, as reported on Saturday. This merger could significantly impact the market presence and financial dynamics of both entities.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 6:44 am

MIMO

Airspan Networks Inc. is set to receive up to $95 million in new equity financing and will eliminate all existing funded debt. The company has entered an agreement with creditors to strengthen its financial foundation and adjust its balance sheet. As a result, Airspan will transition into a private entity, majority-owned by Fortress, with a robust balance sheet and enhanced financial flexibility. The company will continue its operations normally while it undergoes a prepackaged recapitalization process, which is expedited and has the full support of all major creditors. Additionally, Airspan has secured over $53 million in Debtor-in-Possession (DIP) financing to support its operations during this period.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 6:35 am

BYDDF

TSLA

XIACF

Xiaomi has entered the EV market with its SU7 sedan, receiving 120,000 orders in 36 hours, directly challenging Tesla's Model 3. The SU7, initially available in China, boasts better specifications than the Model 3 in most aspects and is priced under $30,000. Despite the competition, Xiaomi is prepared to sustain losses to compete in the EV market.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 1:47 am

MIMO

Airspan Networks Holdings Inc. (MIMO) announced a Restructuring Support Agreement with Fortress Investment Group and other stakeholders, providing up to $95M in equity financing and eliminating all debt. The company filed for Chapter 11 to expedite restructuring, aiming to become private under Fortress majority ownership. Airspan received over $53M in DIP financing to support operations during restructuring, with court approval pending. Existing stockholders may exchange shares for cash or warrants.

Portfolio Pulse from Charles Gross

March 31, 2024 | 6:34 pm

AAPL

AMZN

GOOGL

Apple Inc. (NASDAQ:AAPL) had a notable week with events including a rare iPhone auction fetching $130K, CEO Tim Cook's strategic visit to China, rumors of new iPhone 16 Pro colors, and a lawsuit against a former employee for leaks. Additionally, Jim Cramer criticized antitrust lawsuits against Big Tech, including Apple, Alphabet Inc. (NASDAQ:GOOGL), and Amazon.com Inc. (NASDAQ:AMZN).

Portfolio Pulse from Benzinga Neuro

March 31, 2024 | 1:19 pm

AMZN

META

MSFT

TSLA

This week in AI featured major developments from industry leaders like Elon Musk's xAI, Tesla, Meta Platforms, and Microsoft. Musk announced Grok 2, aiming to outperform competitors. Tesla is hiring for its Optimus Humanoid Robot, indicating a potential launch. Zuckerberg is personally recruiting AI talent from Google's DeepMind for Meta. Speculation about an AI bubble involves Nvidia, Amazon, and Microsoft, with warnings from analyst Richard Windsor. Microsoft's stock is predicted to rise due to its AI advancements.

Portfolio Pulse from Benzinga Neuro

March 31, 2024 | 5:16 am