Streetbeat News

Acquisitions Mergers

GILD

XLO

Xilio Therapeutics' stock price increased following the announcement of an exclusive license agreement with Gilead Sciences for a tumor-activated IL-12 program. Additionally, Xilio announced an $11.3 million private placement equity financing.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 11:41 am

ISPR

RGF

The article highlights Ispire Technology Inc. (ISPR) and The Real Good Food Company, Inc. (RGF) as the top 2 defensive stocks in the consumer staples sector, considered undervalued due to their low RSI values. ISPR announced a public offering, causing a stock price drop, while RGF appointed a new CEO and faced a downgrade by B. Riley Securities.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 11:35 am

GCTS

GCT Semiconductor shares are trading lower due to volatility after completing a business combination with Concord Acquisition Corp III and debuting on the NYSE.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 11:26 am

ALLY

DFS

NUMV

RDIV

Ally Financial Inc has announced Michael G. Rhodes as its new CEO, effective April 29, 2024. Rhodes, previously CEO at Discover Financial Services, replaces Jeffrey J. Brown. Discover Financial has appointed J. Michael Shepherd as Interim CEO following Rhodes' departure. Investors can gain exposure to ALLY through ETFs like RDIV and NUMV. ALLY shares saw a slight decrease in premarket trading.

Portfolio Pulse from Lekha Gupta

March 28, 2024 | 11:21 am

ATLX

Atlas Lithium's stock price increased following the announcement of a $30 million investment and offtake agreement with Mitsui & Co.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 11:14 am

MU

NVDA

TSM

Piper Sandler, anticipating a 5% to 10% correction in the S&P 500 due to inflated valuations and decelerating momentum, has removed Nvidia Corp. (NASDAQ:NVDA) from its model portfolio. The investment bank cited concerns over Nvidia's escalating costs despite its strong position in the AI sector. Instead, Piper Sandler has added Micron Technology Inc. (NASDAQ:MU) and Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) to its portfolio, reducing equity exposure from 98% to 90% and allocating 10% to cash.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 11:14 am

ARKO

ARKO Corp. has successfully renegotiated the deferred payment terms for its acquisition of Transit Energy Group, enhancing stockholder value.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 11:08 am

GILD

XLO

Gilead Sciences, Inc. (GILD) and Xilio Therapeutics (XLO) have entered into an exclusive license agreement for XTX301, a Phase 1 tumor-activated IL-12 program. Gilead will pay Xilio $43.5 million upfront, including $30 million in cash and a $13.5 million equity investment at a premium. Additionally, Xilio could receive up to $604 million in contingent payments based on development, regulatory, and sales milestones. The deal is expected to reduce Gilead's 2024 EPS by $0.03 to $0.04.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 11:04 am

ATLX

Atlas Lithium Corporation (NASDAQ:ATLX) has entered into investment and offtake agreements with Mitsui & Co, Ltd, involving a $30 million investment in Atlas Lithium's common shares at a premium and an agreement for Mitsui to purchase up to 75,000 tons of lithium concentrate from Atlas Lithium's Neves Project in Brazil. This partnership is seen as a significant validation of Atlas Lithium's project and is expected to accelerate the company's development towards revenue generation from its environmentally sustainable lithium concentrate production.

Portfolio Pulse from Anusuya Lahiri

March 28, 2024 | 10:50 am

SLB

Schlumberger N.V. (NYSE:SLB) has announced a deal to merge its carbon capture division with Aker Carbon Capture (ACC), acquiring an 80% stake in the combined business for NOK 4.12 billion ($380.86 million). The deal, expected to close by Q2 2024, aims to advance large-scale industrial decarbonization. Schlumberger may also make additional payments based on performance. The company plans to increase share repurchases in 2024 and expects significant growth, particularly in the Middle East.

Portfolio Pulse from Nabaparna Bhattacharya

March 28, 2024 | 10:50 am