Streetbeat News

Acquisitions Mergers

CNM

Core & Main has signed an agreement to acquire substantially all assets of EGW Utilities, a Texas-based distributor of underground utility products and services. The terms of the deal were not disclosed. EGW Utilities, located in Carrollton, Texas, has been a reliable provider of underground utility infrastructure products and services since 2001.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:22 pm

LICY

Li-Cycle has successfully closed a $75 million investment from Glencore, marking a significant financial infusion into the battery recycling company. This investment could enhance Li-Cycle's operational capabilities and expand its market presence.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:15 pm

OPGN

OpGen, Inc. (NASDAQ:OPGN) announced a $3M acquisition of 3M shares of Series E Convertible Preferred Stock by David Lazar, who will also take over as CEO. The proceeds will be used to settle outstanding liabilities and for general corporate purposes. Lazar's investment and his appointment, along with new board members, aim to explore strategic options to enhance shareholder value. The company also settled its outstanding liabilities with the European Investment Bank and Curetis GmbH.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:10 pm

ACI

KR

A Colorado court has scheduled a hearing for the Kroger-Albertsons merger before the FTC case, indicating progress in the proposed deal. The companies have revised their divestiture plan, aiming to address regulatory concerns and secure approval.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 7:59 pm

GBTG

Global Business Travel Group's stock is trading higher following the announcement that its American Express Global Business Travel division has entered into an agreement to acquire CWT.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 7:57 pm

AAL

BA

RYAAY

Boeing Co's CEO David Calhoun and chairman Larry Kellner are stepping down following an FAA investigation into a safety incident with Alaska Airlines. The investigation revealed failures on safety issues, leading to leadership changes including the departure of Stan Deal, president of Boeing's Commercial Airplanes division. Despite a 23% drop in share price after the Alaska Airlines incident, shares rose 1.3% following the announcement of the leadership changes. The FAA has increased scrutiny on Boeing, and the industry awaits the impact of these changes on Boeing's delivery commitments.

Portfolio Pulse from Neil Dennis

March 25, 2024 | 7:38 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) has finalized a partnership with game developer Toys for Bob, known for Crash Bandicoot and Spyro, to finance the development of an undisclosed game. This follows Toys for Bob's announcement of becoming an indie developer and leaving Microsoft-owned Activision. The partnership fuels speculation about the revival of popular franchises like Crash Bandicoot and Spyro. Microsoft's acquisition of Activision Blizzard brings major franchises under its umbrella, including Call of Duty and Halo.

Portfolio Pulse from Franca Quarneti

March 25, 2024 | 7:29 pm

DJT

DWAC

A judge has scheduled former President Donald Trump's hush money trial for April 15, potentially impacting his 2024 presidential campaign. The trial date could be delayed through a motion related to pretrial publicity. Trump faces 34 counts related to payments to Stormy Daniels. Meanwhile, Trump's media company, Trump Media & Technology Group, is set to go public after a merger with Digital World Acquisition Corporation (DWAC), with Trump owning 80 million shares.

Portfolio Pulse from Chris Katje

March 25, 2024 | 7:14 pm

ABBV

AKAN

FSR

LABP

U.S. stocks showed mixed performance with the Nasdaq turning higher, while the Dow and S&P 500 fell. Energy shares led gains, while industrials lagged. Notably, Landos Biopharma surged 169% after an acquisition announcement by AbbVie. Nkarta and Altamira Therapeutics also saw significant gains. Conversely, Sintx Technologies, Akanda Corp., and Fisker Inc. experienced sharp declines. Sales of new single-family houses in the U.S. slightly fell, missing market estimates.

Portfolio Pulse from Avi Kapoor

March 25, 2024 | 7:00 pm

ABBV

LABP

Landos Biopharma, Inc. (LABP) shares surged over 170% following acquisition news by AbbVie Inc. (ABBV). Other stocks also showed significant movement in Monday's mid-day session, with notable gainers including Next.e.GO N.V. (EGOX), Altamira Therapeutics Ltd. (CYTO), and MicroAlgo Inc. (MLGO), among others. Losers for the day included Sintx Technologies, Inc. (SINT), Akanda Corp. (AKAN), and Fisker Inc. (FSR), with declines attributed to various factors such as public offerings and terminated negotiations.

Portfolio Pulse from Avi Kapoor

March 25, 2024 | 6:44 pm