Streetbeat News

Acquisitions Mergers

CELH

Celsius Holdings, Inc. (NASDAQ:CELH), the maker of CELSIUS® energy drinks, announced its expansion into Australia and New Zealand through a definitive manufacturing, sales, and distribution agreement with Suntory Oceania. This move is part of CELSIUS's strategy to grow its global sales and distribution footprint, targeting strategically important energy drink markets. The company expects to start sales in these new markets in Q4 2024, aiming to accelerate growth in 2025.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 1:13 pm

CHEK

Nobul AI Corp has agreed to acquire Check-Cap Ltd (NASDAQ:CHEK), with Nobul shareholders becoming the majority holders of the combined company. The merger aims to create a public company focused on an AI-driven fintech marketplace and enhancing traditional companies through AI, headquartered in Toronto, Canada. The combined entity plans to apply for listing on the NASDAQ and TSX, with Nobul's executive team leading the new company. The acquisition is seen as a strategic move to deliver value to shareholders and leverage Nobul's M&A expertise. Check-Cap, a clinical-stage medical diagnostics company, is known for developing C-Scan, a preparation-free colorectal cancer screening test.

Portfolio Pulse from Vandana Singh

March 26, 2024 | 1:13 pm

WEWKQ

Adam Neumann, former CEO of WeWork, has proposed a bid of over $500 million to buy back the bankrupt co-working company, WeWork Inc. Collaborating initially with Dan Loeb's Third Point hedge fund and other investors, Neumann is seeking to regain control and influence WeWork's future. However, Third Point clarified it is not directly involved in this bid. WeWork aims to emerge from bankruptcy in the second quarter, focusing on restructuring and evaluating third-party interests for the company's long-term benefits.

Portfolio Pulse from Vandana Singh

March 26, 2024 | 12:45 pm

CART

GME

RDDT

Reddit Inc (NYSE:RDDT) has seen a surge in bullish options activity since its IPO, with shares climbing significantly. Despite no annual profit since 2005, investor interest remains high, with a focus on call options. Opinions among investors vary, with some skeptical of Reddit's financials and future growth. Comparisons with other IPOs like Instacart (NASDAQ:CART) suggest Reddit's valuation may be more reasonable. The debate between bullish and bearish sentiments continues, with high options premiums indicating uncertainty about Reddit's future.

Portfolio Pulse from Surbhi Jain

March 26, 2024 | 12:39 pm

NSC

Ancora Holdings Group, LLC, a significant shareholder of Norfolk Southern Corporation (NYSE:NSC), has announced its intention to nominate seven director candidates for Norfolk Southern's Board at the 2024 Annual Meeting. Ancora aims to implement a leadership strategy to achieve a 57% operating ratio and recapture high-margin growth within 36 months, leveraging the proposed team's extensive experience in transportation and change management. The proposed leadership includes former UPS President of International and COO, Jim Barber, as CEO, and former EVP of Operations at CSX, Jamie Boychuk, as COO. Ancora urges shareholders to vote using the BLUE Proxy Card to elect its slate and advocate for leadership change following Norfolk Southern's crises and underperformance.

Portfolio Pulse from Happy Mohamed

March 26, 2024 | 12:38 pm

AROC

EGY

TDW

As of March 26, 2024, three energy stocks, Archrock, Inc. (AROC), Tidewater Inc. (TDW), and VAALCO Energy, Inc. (EGY), are considered overbought based on their RSI values, indicating potential short-term performance concerns. AROC's recent gains follow better-than-expected sales, TDW's stock rose after a year of significant milestones and profitable growth, and EGY's stock surged due to record financial results and successful acquisition integration.

Portfolio Pulse from Avi Kapoor

March 26, 2024 | 12:36 pm

ABVC

ABVC BioPharma has entered into a global licensing agreement with ForSeeCon Eye Corporation for Vitargus, including a licensing income of $33.5M and potential royalties up to $60M.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 12:32 pm

APXI

APx Acquisition Corp. I (NASDAQ:APXI), OmnigenicsAI Corp, and MultiplAI Health Ltd have entered into a Business Combination Agreement to create a global AI-driven genomics platform. The merger aims to list OmnigenicsAI on Nasdaq under the ticker 'OMNI'. This strategic combination will focus on delivering personalized health insights and clinical guidance through AI and precision medicine, covering prevention, early detection, diagnostics, and treatment. The merger is expected to close mid-year, subject to APx's shareholder approval and other conditions.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 12:27 pm

ASML

SBRA

STLD

CNBC's 'Halftime Report Final Trades' featured recommendations for Deere & Company (DE), ASML Holding N.V. (ASML), Sabra Health Care REIT, Inc. (SBRA), and Steel Dynamics, Inc. (STLD). Key updates include leadership changes at Deere, ASML's share buyback transactions, Sabra's strong Q4 sales, and Steel Dynamics' positive Q1 earnings guidance.

Portfolio Pulse from Avi Kapoor

March 26, 2024 | 12:25 pm

DELL

PTF

SRHQ

Dell Technologies Inc (NYSE:DELL) has reduced its workforce as part of a cost-cutting strategy, facing a decline in PC demand and revenue. Despite a 12% revenue drop in its PC division, Dell anticipates growth in this segment for the year. The company also expects challenges from rising input costs and changes in its VMware relationship. Other tech giants like Alphabet, Meta, Microsoft, and Amazon have also announced significant layoffs. Dell's stock has risen 198% in the last 12 months, with exposure through SRHQ and PTF ETFs. DELL shares increased by 1.33% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

March 26, 2024 | 12:24 pm