Streetbeat News

Acquisitions Mergers

GERN

Adam Feuerstein of STAT News admitted he was wrong about Geron's blood cancer drug, imetelstat, after a group of experts recommended its approval for myelodysplastic syndrome treatment. The FDA's decision on imetelstat is anticipated by June 16, raising speculation about Geron becoming a takeover target.

Portfolio Pulse from Happy Mohamed

March 18, 2024 | 1:08 pm

TALO

Talos Energy has agreed to sell its Talos Low Carbon Solutions subsidiary to TotalEnergies for a purchase price of $125 million, along with customary reimbursements and adjustments. The deal also includes the retention of cash, bringing the combined total to approximately $148 million.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 1:06 pm

AAPL

BYDDF

NVDA

QCOM

TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin surged amid selling pressure. Apple unveiled a new AI with 30B parameters. US markets saw Logitech and B. Riley Financial moving lower. Nvidia and Qualcomm introduced new technologies, while Apple discussed licensing AI models with Google. Tesla and BYD made headlines in the EV market. Walmart and Best Buy engaged in a price war on Apple's MacBook Air. Boeing faced financial and safety scrutiny. Warren Buffett and Dave Ramsey expressed skepticism towards Bitcoin.

Portfolio Pulse from Akanksha Bakshi

March 18, 2024 | 1:05 pm

JZXN

Shenzhen Jiuzi (JZXN) and Maigesong Electric have signed a Non-Disclosure Agreement (NDA) to enter into negotiations regarding the merger and acquisition (M&A) of Maigesong Electric. This agreement aims to protect commercial secrets and sensitive information, indicating a solid foundation and strong determination for the M&A process.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 1:04 pm

VCIG

VCI Global has successfully completed its transaction with Cogia GmbH, resulting in the acquisition of Socializer Messenger. This strategic move is aimed at enhancing VCI Global's offerings and expanding its market presence.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 1:03 pm

EH

NVEI

TSVT

Nuvei's shares surged 33% amid reports of buyout talks with Advent International. 2seventy Bio's stock jumped 50% following an FDA Advisory Committee's favorable vote on Abecma for multiple myeloma. EHang's shares increased 17% as the company started selling its EH216-S flying taxi on Taobao.

Portfolio Pulse from ryanfaloona@benzinga.com

March 18, 2024 | 12:44 pm

NOW

ServiceNow announced its plan to acquire 4Industry, a move aimed at expanding its manufacturing services capabilities. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 12:41 pm

NFE

New Fortress Energy Inc. (NFE) has sold two emergency power plants in San Juan and Palo Seco, Puerto Rico, to the Puerto Rico Electric Power Authority (PREPA) for $373 million. Additionally, NFE secured an 80 TBtu gas supply contract with PREPA, doubling its gas supply volumes to these plants. These moves are part of NFE's commitment to enhancing Puerto Rico's energy infrastructure and stability.

Portfolio Pulse from Happy Mohamed

March 18, 2024 | 12:38 pm

CEG

Constellation (NASDAQ:CEG) has issued the first corporate green bond in the U.S. for $900 million with a 30-year term to finance nuclear energy projects. This initiative underscores the role of nuclear energy in achieving sustainability goals and marks a significant step in green financing. The bond will fund investments in maintenance, expansion, and life extensions of nuclear power generation. Crédit Agricole CIB served as the Green Structuring agent for this offering, which aligns with the Green Bond Principles and Green Loan Principles.

Portfolio Pulse from Happy Mohamed

March 18, 2024 | 12:22 pm

LAB

Standard BioTools Inc. (NASDAQ:LAB) has exchanged all its Series B Convertible Preferred Stock for common stock with Viking Global Investors and Casdin Capital. This move, aimed at streamlining the capital structure, issued approximately 93 million shares of common stock at $2.75 per share, resulting in about 17.8 million additional shares compared to the original conversion price of $3.40 per share. This represents less than 5% dilution and eliminates all Series B Preferred senior rights. The company now has around 382.5 million shares of common stock outstanding.

Portfolio Pulse from Happy Mohamed

March 18, 2024 | 12:17 pm