Streetbeat News

Acquisitions Mergers

NDAQ

Borse Dubai is selling approximately one-third of its stake in Nasdaq Inc. (NASDAQ:NDAQ) for about $1.6 billion, retaining over 10% ownership. The sale involves 26.96 million shares at $59 each, with an 18-month lockup period for the remaining shares. This move marks a strategic shift for Borse Dubai and has led to a more than 2% drop in Nasdaq shares in extended trading.

Portfolio Pulse from Benzinga Neuro

March 20, 2024 | 6:33 am

STWD

Starwood Capital Group has announced its acquisition of a 10.7% equity stake in ESR Group, in partnership with ESR's co-founders, Stuart Gibson and Charles de Portes. This strategic move signifies Starwood's investment in the real estate sector through a significant stake in ESR.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:05 am

FLFV

Feutune Light Acquisition (FLFV) stockholders approved an extension of the deadline for an initial business combination with Thunder Power Holdings Limited until March 21, 2024. The deadline may be further extended up to nine times, each by an additional month until December 21, 2024. For each extension, a payment will be made into FLFV's trust account, the lesser of $60,000 for all public shares or $0.035 for each public share.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 5:42 am

WMG

Warner Music India has expanded its partnership with JetSynthesys' Global Music Junction (GMJ) through a strategic investment, granting it a board seat and establishing it as the largest player in the central Indian music market. This follows a distribution deal made between the two companies in 2021.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 5:34 am

MSFT

Microsoft Corporation (NASDAQ:MSFT) has hired the founders of Inflection AI, Mustafa Suleyman and Karén Simonyan, to diversify its AI strategy beyond its significant investment in OpenAI. Brett Winton of Ark Invest highlighted this move as a strategy to mitigate OpenAI-related risks. Microsoft previously led a $1.3 billion funding round for Inflection AI and has also invested in another AI startup, Mistrial AI. Suleyman and Simonyan will lead a new division focusing on consumer AI, integrating efforts with Copilot, Bing, and Edge.

Portfolio Pulse from Ananya Gairola

March 20, 2024 | 5:21 am

XIACF

Xiaomi CEO Lei Jun showcased the new EV factory uniform and hinted at the upcoming domestic launch of the SU7 sedan, Xiaomi's first car. The EV factory was officially unveiled, with the Xiaomi board holding a meeting there and test-driving the SU7. Xiaomi, often compared to Apple, is expanding into the EV market with the SU7, which has been compared to high-end vehicles like the Porsche Taycan and Tesla Model S. The official pricing for the SU7 will be announced on March 28. Xiaomi's financials for 2023 showed significant growth, with total revenue of 271 billion yuan and an adjusted net profit of 19.3 billion yuan, despite expenses related to new initiatives like the EV business. This move into the EV sector differentiates Xiaomi from Apple, which reportedly halted its electric car project due to concerns over profit margins.

Portfolio Pulse from Anan Ashraf

March 20, 2024 | 3:34 am

CMG

COIN

JPM

PLNT

TSLA

On Tuesday, U.S. stock indices closed positively, with notable movements in shares of Chipotle, JPMorgan, Planet Fitness, Coinbase, and Tesla. Chipotle announced a significant 50:1 stock split, JPMorgan saw mixed options trading sentiment, Planet Fitness faced backlash over inclusive policies, Coinbase's stock fell with Bitcoin's price, and Tesla announced a price increase for the Model Y.

Portfolio Pulse from Benzinga Neuro

March 20, 2024 | 3:09 am

FOX

FOXA

NWS

The 2024 Ruth Bader Ginsburg Leadership Awards, intended for Elon Musk among others, were revoked after objections from Barbra Streisand and Ginsburg's family. The controversy arose due to the change in award criteria and the selection of primarily male recipients. The Opperman Foundation, responsible for the awards, announced the cancellation and plans to reconsider its mission. Elon Musk's controversial figure status, particularly regarding free speech and social media platform X, and Rupert Murdoch's association with conservative media outlets News Corporation and Fox Corporation, were highlighted as potential reasons for the backlash.

Portfolio Pulse from Chris Katje

March 19, 2024 | 10:11 pm

Prosperity Bancshares has received all necessary regulatory approvals to finalize its acquisition of Lone Star State Bancshares, marking a significant step towards completing the transaction.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 9:47 pm

AMSYF

AUMN

MTAL

NEXA

VALE

Nexa Resources suspends operations at Morro Agudo, impacting zinc and lead production. Metals Acquisition reports high copper grades at CSA Copper Mine, aiming for resource expansion. Golden Minerals announces 2023 financial results, with decreased revenue and a net loss, alongside mining operation updates. ArcelorMittal appoints Kleber Silva as EVP and CEO of its mining division, leveraging his extensive industry experience.

Portfolio Pulse from Austin DeNoce

March 19, 2024 | 9:08 pm