Streetbeat News

Acquisitions Mergers

NUVB

Nuvation Bio (NUVB) has agreed to acquire AnHeart Therapeutics in an all-stock transaction, issuing approximately 43.6M shares. Post-acquisition, AnHeart's shareholders will own 33% of Nuvation Bio, with existing Nuvation shareholders owning 67%. The deal, expected to close in Q2 2024, aims to position Nuvation Bio as a leading late-stage global oncology company. The acquisition is subject to AnHeart shareholder approval and customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:05 am

DWAC

FDX

On March 22nd, U.S. stock markets closed mixed with the S&P 500 nearly unchanged, marking its biggest weekly rise of 2024 after the Fed's interest rate cut plans. The Nasdaq increased slightly, driven by AI excitement. Baker Hughes reported a decrease in U.S. oil rigs. FedEx surged 7.4% after beating profit expectations, while Digital World Acquisition fell 13.7% following its merger approval with Trump's tech company. Global markets saw mixed results, with declines in Asia and Europe, while commodities like crude oil and gold traded higher.

Portfolio Pulse from Akanksha Bakshi

March 25, 2024 | 11:03 am

NSANY

Nissan Motor Co., Ltd (OTC:NSANY) announced plans to introduce 30 new models by fiscal 2026, aiming for a global sales increase of 1 million vehicles with a focus on electrification. Of these, 16 will be electrified models, with a goal to reduce the cost of EVs by 30% by 2030. The company targets an operating profit margin over 6% and total shareholder returns above 30% by 2030. Nissan plans to invest over ¥400 billion in battery capacity, with electrification investment exceeding 70% by fiscal 2026. The new business plan could unlock an additional ¥2.5 trillion in revenues by 2030. NSANY shares closed higher by 2.18% at $8.45.

Portfolio Pulse from Shivani Kumaresan

March 25, 2024 | 10:44 am

NVO

Novo Nordisk has agreed to acquire Cardior Pharmaceuticals for up to €1.025 billion, including upfront and milestone payments. Cardior specializes in RNA-targeted therapies for heart diseases, with its lead compound CDR132L in phase 2 for heart failure treatment. This acquisition aims to enhance Novo Nordisk's cardiovascular disease pipeline.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 10:06 am

CENX

Century Aluminum (CENX) has been selected by the US Department of Energy to receive a $500M investment for building a new green aluminum smelter, aimed at accelerating industrial decarbonization. This will be the first new U.S. primary aluminum smelter in 45 years, potentially doubling the size of the current U.S. primary aluminum industry upon completion.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 10:01 am

MASI

The Wall Street Journal reported that activist investor Politan is planning to nominate two directors to the board of Masimo, according to sources. This move marks Politan's second proxy battle with the medical technology company.

Portfolio Pulse from Charles Gross

March 25, 2024 | 8:44 am

ARKB

COIN

HOOD

TSLA

Cathie Wood's Ark Investment Management showed confidence in Tesla (TSLA) by purchasing shares after a price dip, despite rumors of production cuts at its Giga Shanghai factory. Ark's ETFs, including ARKK, ARKW, and ARKQ, bought a total of 116,408 Tesla shares. Meanwhile, Ark sold significant holdings in Coinbase (COIN) and Robinhood (HOOD) amid a crypto market cooldown, despite the ARK 21Shares Bitcoin ETF (ARKB) gaining 37% since its launch.

Portfolio Pulse from Shanthi Rexaline

March 25, 2024 | 8:29 am

BTCUSD

'Rich Dad, Poor Dad' author Robert Kiyosaki plans to buy 10 more bitcoins before the April halving, predicting a rally to $100,000 by September 2024. He suggests buying fractions of Bitcoin through ETFs or Satoshis for those who can't afford a whole coin. Kiyosaki also recommends investing in precious metals like gold and silver as alternatives. The Bitcoin halving, reducing miner rewards by 50%, is expected to decrease supply and potentially increase Bitcoin's price.

Portfolio Pulse from Shanthi Rexaline

March 25, 2024 | 7:51 am

FDX

LULU

NKE

The CNN Money Fear and Greed index indicated a decline in market sentiment, yet the Dow Jones experienced its strongest week since December. Despite this, the S&P 500 and Nasdaq showed mixed results. Lululemon and Nike shares dropped significantly after their earnings reports, while FedEx shares surged following a positive earnings announcement and a new share repurchase program. The U.S. oil rig count decreased slightly. Sectors such as real estate, financial, and consumer discretionary faced losses, whereas information technology and communication services saw gains. Investors are looking forward to earnings results from Westport Fuel Systems, BuzzFeed, and Dada Nexus.

Portfolio Pulse from Avi Kapoor

March 25, 2024 | 6:44 am

GOOG

TSLA

Charles Ruizhongtai Qi, a former Waymo staff research scientist and tech lead manager, has announced his move to Tesla Inc to work on its full self-driving software. Qi, who has been with Waymo since October 2019, expressed his continued interest in Tesla and its approach to autonomous driving. He praised Waymo for its achievements in scaling robotaxi services but decided to join Tesla to contribute to its Autopilot team. Meanwhile, Waymo's rival, Cruise, faces operational suspension in the U.S. after a robotaxi accident.

Portfolio Pulse from Anan Ashraf

March 25, 2024 | 5:09 am