Streetbeat News

Acquisitions Mergers

RCAT

Red Cat Holdings, Inc. (NASDAQ:RCAT) has secured $2.5 million in contracts with two NATO allied countries for its Teal 2 drone systems, training, and accessories, expected to be delivered by the end of March. The contracts align with Red Cat's global sales expansion strategy and underscore its commitment to supporting NATO allies with advanced, American-made drone technology. The Teal 2 drones are designed for military, public safety, and government use, featuring night vision, thermal imaging, and AI capabilities. Red Cat plans to further its international business development by participating in the FIDAE 2024 conference in Santiago, Chile.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:35 pm

EPAM

EPAM Systems, Inc. has acquired Vates S.A., a software development company with offices in Argentina and Chile, to enhance its software development portfolio and expand its delivery capabilities in Latin America. This acquisition adds hundreds of skilled engineers to EPAM's team, strengthening its position in cloud, testing, and Atlassian platform knowledge. Vates, known for its end-to-end solutions across multiple industries, will help EPAM in delivering advanced digital services and fostering growth in LATAM.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:06 pm

DTSS

Datasea Inc. (NASDAQ:DTSS) has signed a $30M 5G AI Multimodal Communication Cooperation Agreement with Xiamen Star Miracle Information Technology Co., Ltd., expected to boost its China 5G services revenue. This agreement supports Datasea's revenue guidance of $86M for the fiscal year, marking a 1,128% YoY increase. The deal highlights Datasea's capabilities in AI-5G services and its aim to expand market share in China's 5G communication sector.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:05 pm

CCL

Carnival Corporation & plc (CCL) has finalized an agreement with Meyer Werft for a fifth Excel-class cruise ship for Carnival Cruise Line, scheduled for delivery in 2028. This addition confirms an 11th Excel-class ship across four of its brands, emphasizing Carnival's commitment to growth and operational efficiency. The new ship, like its predecessors, will be LNG-powered and designed to carry over 6,400 guests and 1,800 crew. This order aligns with Carnival's strategy for measured capacity growth and is contingent upon financing expected to be completed later this year.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:03 pm

DJT

Trump Media & Technology Group Corp (NASDAQ:DJT) stock is trending after completing its merger with Digital World and starting to trade on Nasdaq. The merger was approved by shareholders, and the company began trading under the ticker symbol 'DJT', a homage to Donald Trump. The company aims to offer a platform for free speech and has seen significant price action, with shares closing up 41.61% at $70.74.

Portfolio Pulse from Adam Eckert

March 26, 2024 | 1:52 pm

OPGN

OpGen Inc (NASDAQ:OPGN) shares surged after announcing a securities purchase agreement with David Lazar for 3 million shares of Series E Convertible Preferred Stock, totaling $3.0 million. The funds will be used for debt repayment and general corporate purposes. Lazar's investment led to significant board changes, including his upcoming appointment as CEO. The deal also includes settling liabilities with the European Investment Bank and Curetis. OPGN shares jumped 50.1% to $0.71.

Portfolio Pulse from Vandana Singh

March 26, 2024 | 1:52 pm

SEALSQ

SEALSQ has announced the establishment of SEALSQ USA in Arizona, with plans to create an OSAT (Outsourced Semiconductor Assembly and Test) center operational by the end of 2025. This move signifies SEALSQ's expansion into the U.S. market and its commitment to enhancing its semiconductor manufacturing capabilities.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 1:30 pm

CHEK

Check-Cap Ltd. (CHEK) shares are experiencing an uptick following the announcement of a definitive Business Combination Agreement with Nobul AI. This strategic move could potentially enhance Check-Cap's market position by integrating Nobul AI's technological advancements.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 1:27 pm

DJT

DWAC

Truth Social, Donald Trump's social media venture, went public through a merger with Digital World Acquisition Corp. (DWAC), now trading under the symbol DJT. Despite a valuation of around $5 billion, experts like Helaine Olen advise caution due to Trump's financial history, Truth Social's small user base, and the speculative nature of SPACs. The stock has seen significant volatility, and there's a six-month lockup period for insiders post-merger.

Portfolio Pulse from Benzinga Neuro

March 26, 2024 | 1:25 pm

PG

UL

Unilever PLC (NYSE:UL) announced plans to spin off its ice-cream business, including Ben & Jerry's, cutting 7,500 jobs as part of a cost-savings program, aiming to complete by end of 2025. The move is part of CEO Hein Schumacher's strategy to focus on 30 key brands, aiming for mid-single-digit sales growth and improved margins. Unilever's Q4 results showed a need for further improvement. Meanwhile, competitor Procter & Gamble (NYSE:PG) reported mixed results with volume drops in several segments.

Portfolio Pulse from Upwallstreet

March 26, 2024 | 1:24 pm