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Acquisitions Mergers

DWAC

Former U.S. President Donald Trump's claims about not listing his company, Trump Media & Technology Group, on the New York Stock Exchange (NYSE) due to harsh treatment in New York have been criticized as nonsensical. Experts highlight that Trump's company is being listed on the Nasdaq, subject to the same New York laws. Despite Trump's criticism of NYSE officials and New York legal authorities, the NYSE expressed openness to listing his company. Trump's social media company, Truth Social, is set to trade on the Nasdaq through a merger with Digital World Acquisition Corp (NASDAQ:DWAC), potentially enriching Trump by $3 billion.

Portfolio Pulse from Benzinga Neuro

March 26, 2024 | 1:50 am

MSFT

Microsoft Corporation (NASDAQ:MSFT) has appointed Pavan Davuluri as the new head of its Windows and Surface division, following the departure of Panos Panay to Amazon.com, Inc. last year. Davuluri, with over 23 years at Microsoft, previously led the Surface silicon and devices division. This reorganization aims to unify the Windows and devices teams to foster a holistic approach towards building systems and devices for the AI era. Mikhail Parakhin, who temporarily led the division, is exploring new opportunities.

Portfolio Pulse from Ananya Gairola

March 26, 2024 | 1:21 am

BHP

GLNCY

NGLOY

RIO

Anglo American (OTC:NGLOY) is considered a potential bargain by Barron's due to rising copper prices and a comprehensive portfolio review. Despite underperforming against competitors like BHP Group Ltd (NYSE:BHP), Rio Tinto (NYSE:RIO), and Glencore ADR (OTC:GLNCY) due to operational issues and market slumps in diamonds and platinum-group metals, Anglo American's focus on copper and potential strategic moves, including asset spin-offs or partnerships, could enhance its value. Analysts see the company's copper business and market recoveries as key drivers for improvement, with external factors like China's demand and green energy transitions supporting copper prices.

Portfolio Pulse from Matt Whittaker

March 25, 2024 | 9:55 pm

APA

CPE

NARI

Inari Medical will replace Callon Petroleum in the S&P SmallCap 600 before trading opens on April 1, due to APA Corp.'s acquisition of Callon Petroleum, expected to finalize around that date.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 9:21 pm

CENX

CLF

NEM

The U.S. Department of Energy selected Century Aluminum (CENX) and Cleveland-Cliffs (CLF) for funding to support decarbonization and new facilities, aiming to bolster the U.S. economy and green energy transition. Newmont Corporation (NEM) plans to sell its Akyem gold mine in Ghana, with Citigroup (C) handling the sale, as part of a strategy to raise funds post-Newcrest Mining acquisition. Ivanhoe Electric (IE) secured a 60% stake in the Samapleu-Grata Nickel-Copper Project, indicating strong future prospects for copper concentrate production.

Portfolio Pulse from Austin DeNoce

March 25, 2024 | 9:18 pm

DWAC

Digital World Acquisition Corp. (NASDAQ:DWAC) has completed its business combination with Trump Media & Technology Group Corp., setting the stage for Trump Media to begin trading on the Nasdaq under the ticker DJT. Despite generating $3.3 million in revenue and incurring $49 million in losses over the first nine months of 2023, TMTG could be valued at up to $8.6 billion. The valuation and future prospects of the company are hot topics on WallStreetBets, with opinions divided on its worth and potential, especially in light of a possible Trump election win.

Portfolio Pulse from Erica Kollmann

March 25, 2024 | 9:17 pm

VSTO

Vista Outdoor has received a revised offer of $37.50 per share from MNC Capital. The company's board has not yet made a decision regarding this new offer and continues to support the existing merger agreement with Czechoslovak Group (CSG) for the acquisition of its Sporting Products business. Shareholders are advised not to take any action at this time.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 9:12 pm

CLF

RIO

Cleveland-Cliffs (NYSE:CLF) is set to receive up to $575 million from the U.S. Department of Energy for decarbonization projects in Ohio and Pennsylvania, aiming to significantly reduce carbon intensity in steel production. This move, part of a broader shift towards renewable energy steelmaking, positions Cleveland-Cliffs as a leader in the industry. The projects are expected to save $450 million annually in production costs, preserve 2,500 jobs, and create additional jobs. This initiative is supported by strong government backing and could enhance Cleveland-Cliffs' position in the domestic steel sector amidst Nippon Steel's acquisition of U.S. Steel (NYSE:X) and political interest in supporting the domestic industry.

Portfolio Pulse from Stjepan Kalinic

March 25, 2024 | 8:58 pm

VFF

Germany's recent legalization of cannabis has positioned Village Farms International, Inc. (NASDAQ:VFF) as a key player in the expanding European market. With its EU GMP certification and successful shipments of Canadian strains to Germany, Village Farms is capitalizing on the growing German market, projected to reach €1.7 billion by 2025. The company's strong performance, highlighted by record fourth-quarter sales and an attractive valuation, underscores its operational efficiency and strategic focus on Europe.

Portfolio Pulse from Jelena Martinovic

March 25, 2024 | 8:52 pm

OPGN

OpGen shares surged following the announcement that David Lazar will invest $3 million in preferred stock and assume the role of CEO. This strategic move is expected to bring new leadership and financial stability to the company.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:49 pm