Streetbeat News

Acquisitions Mergers

AZN

FUSN

AstraZeneca (NASDAQ:AZN) is set to acquire Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) for $2 billion in cash plus additional contingent payments, totaling a potential $2.4 billion. This acquisition aims to enhance AstraZeneca's oncology portfolio with Fusion's next-generation radioconjugates. The offer represents a significant premium over Fusion's recent market prices.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 7:06 am

BTCUSD

Changpeng Zhao, former head of Binance, announced his new venture, Giggle Academy, a free educational platform for kids with no revenue model, using gamification and NFTs for engagement. Despite his legal challenges, including a $50 million fine and potential prison time for inadequate anti-money laundering measures at Binance, Zhao is focusing on creating a positive impact through education. Bitcoin's price is currently $65,824, down 4%.

Portfolio Pulse from Mehab Qureshi

March 19, 2024 | 6:53 am

PGTI

PGT Innovations, Inc. (PGTI) stockholders approved a merger agreement with MIWD Holding Company LLC (MITER Brands), where MITER Brands will acquire all outstanding shares of PGTI for $42.00 per share in cash. The deal, partly financed by Koch Equity Development LLC, is expected to close later this month, resulting in PGTI becoming a privately held company.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 6:46 am

CSL

Carlisle Companies (CSL) announced its acquisition of MTL Holdings, a provider of pre-fabricated edge metal for commercial roofing systems, for $410 million. This strategic move aims to enhance CSL's product offerings in the roofing industry.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 6:41 am

TSLA

Mark Cuban questioned Donald Trump's claims about a 'bloodbath' in the U.S. auto industry, pointing out discrepancies and highlighting potential benefits for Tesla due to the Biden administration's consideration of tariffs on EVs made in China. Trump's comments, which included a call for a 100% tariff on foreign-made cars, have sparked controversy and received mixed reactions from political figures and industry leaders.

Portfolio Pulse from Benzinga Neuro

March 19, 2024 | 6:16 am

CNM

Core & Main, Inc. (NYSE:CNM) is set to release its Q4 earnings on March 19, 2024, with expectations to report earnings of 35 cents per share and quarterly revenue of $1.43 billion, showing growth from the previous year. The company recently acquired NW Geosynthetics Inc. (ACF West Inc.). Analysts from Loop Capital, Citigroup, Goldman Sachs, Truist Securities, and Barclays have provided updates on their ratings and price targets for CNM, reflecting a generally positive outlook.

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 5:43 am

AAPL

GOOG

GOOGL

Apple Inc. is reportedly in talks with Alphabet Inc. and OpenAI to license their AI models, a move billionaire investor Chamath Palihapitiya sees as Apple giving up on AI development, similar to its retreat from electric cars. Palihapitiya warns this could lead to a loss of talent and a decline in product quality and profits. Apple's discussions involve using Google's Gemini for iPhone software and potentially a deal with OpenAI. This follows Apple's decision to shift employees from its EV project to AI, with layoffs expected.

Portfolio Pulse from Ananya Gairola

March 19, 2024 | 5:18 am

PLNH

Planet 13 Holdings (OTC:PLNH), a cannabis company, faces a 55% lag behind peers this quarter due to an ill-timed equity offering and embezzlement issues. Despite this, it trades at a 35% discount with strong growth prospects, especially in Florida. The company has filed a $16.5 million lawsuit against Casa Verde Capital and El Capitan Advisors for alleged fraud. Financially, PLNH saw a decrease in sales but improved EBITDA margins and ended CY23 with $17.3M in cash, expecting $33M post-VidaCann deal. Strategic moves include the VidaCann acquisition and expansion in Florida and Nevada.

Portfolio Pulse from Nicolás Jose Rodriguez

March 19, 2024 | 2:10 am

DWAC

Digital World Acquisition Corp (NASDAQ:DWAC), the SPAC for Trump's Truth Social, hit a 7-week low of $35.58, down 8.74%, amid Trump's struggles to secure a bond in a civil fraud case. Despite this, DWAC's value has more than doubled year-to-date, with a significant surge after SEC clearance for a merger with Truth Social. Trump's legal and financial challenges, including a rejected bond request in a fraud case and concerns over debt settlement funding, continue to impact investor sentiment.

Portfolio Pulse from Benzinga Neuro

March 19, 2024 | 1:48 am

ELYM

RA Capital Management announced that at the closing of their transaction, each outstanding share of Tango Capital stock will be exchanged for newly issued shares of Eliem Therapeutics (ELYM) common stock. The exchange ratio is based on an initial valuation of $20M for Tango and $110M for Eliem at the time of closing.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 9:05 pm