Streetbeat News

Acquisitions Mergers

AUMN

CLF

FCX

FMST

GOLD

Foremost Lithium Resource & Technology (FMST) reports significant drilling progress in Manitoba, aiming for an updated resource estimate. Barrick Gold (GOLD) exits the El Quevar silver project agreement with Golden Minerals (AUMN), effective April 20, 2024. Cleveland-Cliffs (CLF) increases steel prices by $60 per net ton. Freeport-McMoRan (FCX) announces a 15-cents-per-share dividend, payable on May 1, 2024.

Portfolio Pulse from Austin DeNoce

March 27, 2024 | 9:46 pm

VZIO

WMT

Walmart has announced its decision to voluntarily withdraw and refile its HSR Notification and Report Form concerning its merger with Vizio. This move is intended to provide antitrust agencies with more time to review the proposed transaction.

Portfolio Pulse from Charles Gross

March 27, 2024 | 9:13 pm

GME

GameStop Corporation (NYSE:GME) reported profitability for the first time in over six years, surpassing Wall Street expectations. Under the leadership of Ryan Cohen, GameStop has transformed into a cash-generating entity, with strategic store closures and operational optimizations contributing to its success. The company's financial performance exceeded that of major industry players and most S&P 500 companies, with a significant year-over-year earnings increase. GameStop now boasts $1.19 billion in cash reserves and minimal debt, positioning it for potential inclusion in the S&P 500 index.

Portfolio Pulse from Kevin Malone

March 27, 2024 | 9:07 pm

ALK

Hawaiian Holdings and Alaska Airlines have entered into a timing agreement with the DOJ, agreeing not to finalize their merger until 90 days after certifying compliance with a second request, unless the DOJ closes its investigation earlier.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 8:43 pm

IPSEY

MACK

Merrimack Pharmaceuticals received a $225 million milestone payment from Ipsen for FDA approval of ONIVYDE for metastatic adenocarcinoma of the pancreas. Merrimack's Board sees no further payments from Ipsen or Elevation Oncology agreements likely and plans a dissolution meeting for May 10, 2024, to discuss a liquidating dividend.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 8:34 pm

AAPL

TSLA

Brad Gerstner, CEO of Altimeter Capital, bought Tesla (TSLA) stock, inspired by Tesla's Full Self-Driving (FSD) Beta version 12, which he likened to a 'ChatGPT moment'. He praised the shift to an imitation learning model, predicting significant progress for Tesla. Despite recent selling pressure and competition in the EV market, Gerstner sees Tesla's move towards a services model, akin to Apple's transition, as a unique opportunity. He acknowledged risks, including potential soft sales in China and the possibility of missing delivery numbers.

Portfolio Pulse from Adam Eckert

March 27, 2024 | 8:33 pm

AVTX

Avalo's stock price increased following the announcement of its acquisition of a Phase 2-ready anti-IL-1β mAb, named AVTX-009, through the purchase of AlmataBio, a privately held company.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 8:30 pm

KEYS

Keysight Technologies is planning to launch a takeover offer for Spirent Communications, a company listed on the London Stock Exchange. This move could potentially expand Keysight's footprint in the telecommunications testing market.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 8:29 pm

AQMS

Aqua Metals has successfully acquired a five-acre parcel in Tahoe-Reno and has significantly advanced the development of the Sierra AquaRefining Campus by completing major upgrades to the existing building. This development is on schedule and within budget, with commissioning set to begin in the summer and commercial production expected to start within the year. Additionally, Aqua Metals has secured an offtake partnership, which is likely to support its commercial activities.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 8:28 pm

BSX

JNJ

MDT

SWAV

Shockwave Medical Inc (SWAV) shares increased after reports of Johnson & Johnson (JNJ) potentially acquiring the company. Piper Sandler views JNJ as a strong fit due to its interest in cardiovascular devices. Medtronic (MDT) and Boston Scientific (BSX) are also considered potential bidders. SWAV's acquisition could require a substantial offer, with bids around the mid-$300s per share mentioned. Regulatory clearance is not expected to be a hurdle, suggesting a competitive bidding process could emerge.

Portfolio Pulse from Vandana Singh

March 27, 2024 | 8:23 pm