Streetbeat News

Acquisitions Mergers

FTEK

Fuel Tech has secured $2.1M in air pollution control orders, including two from new European customers for SCR technology, and contracts from existing customers in the Caribbean and the US for FUEL CHEM equipment and SNCR system upgrades, respectively. Deliveries are scheduled between Q2 2024 and Q1 2025.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:26 pm

MBIO

Mustang Bio reported a FY23 EPS of $(6.00), an improvement from $(10.09) YoY, alongside a significant decrease in cash and cash equivalents from $76.7 million to $7.0 million. The company made a $30.4 million payment to terminate existing debt and sold assets to uBriGene for $6 million upfront with a potential additional $5 million contingent payment. Research and development expenses decreased to $40.5 million from $62.5 million in 2022. Mustang Bio's lead clinical candidate, MB-106, showed a 100% overall response rate in Phase 1/2 clinical trials for certain hematologic malignancies. The FDA granted Orphan Drug Designation to MB-106 for WM treatment. Additionally, Mustang announced the FDA's acceptance of an IND for a Phase 1 trial of MB-109 for recurrent GBM and high-grade astrocytoma.

Portfolio Pulse from Happy Mohamed

March 11, 2024 | 8:24 pm

CNM

Core & Main (CNM) has agreed to acquire NW Geosynthetics, which operates as ACF West, a top distributor of geosynthetic materials and soil stabilization solutions in the western United States. The terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:20 pm

CNM

Core & Main announced its plan to acquire ACF West, a move aimed at expanding its geographical footprint and product offerings. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:20 pm

GLLI

Globalink Investment has extended the deadline to complete its business combination from March 9 to April 9, 2024. This extension provides additional time for the completion of the merger process.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:18 pm

NWSA

Rupert Murdoch's News Corp. is reportedly considering a joint bid for The Telegraph with its rivals, according to Bloomberg. This move could potentially expand News Corp.'s media portfolio and strengthen its position in the global media landscape.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:16 pm

MTN

Vail Resorts has revised its fiscal 2024 guidance downwards due to season-to-date underperformance, now expecting net income between $270M-$325M and Resort Reported EBITDA between $849M-$885M. The company attributes the revised outlook to improved conditions and booking trends, and the financial stability provided by advance commitment products. The guidance includes $4M in acquisition-related expenses for Crans-Montana but excludes costs related to its acquisition and integration. The outlook assumes current economic conditions, normal weather for the remaining ski seasons, and specific exchange rates for operations in Canada, Australia, and Switzerland.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:08 pm

DHI

ITB

LEN

Lennar Corp (NYSE:LEN) is set to report its earnings, with expectations of $2.21 per share, up 4.2% from last year. Warren Buffett invested in Lennar and D.R. Horton (NYSE:DHI), selling the latter after its shares fell post-earnings. Sector rivals like Toll Brothers (NYSE:TOL), NVR Inc. (NYSE:NVR), and Pulte Group (NYSE:PHM) have shown varied results, impacting their stock prices. The iShares U.S. Home Construction ETF (NYSE:ITB) has risen 8% in 2024, buoyed by these companies. Housing market improvements and Lennar's dividend increase and share repurchase program set a positive stage for its earnings report.

Portfolio Pulse from Neil Dennis

March 11, 2024 | 7:59 pm

AAP

Advance Auto Parts is set to add three new board members as part of a settlement with Dan Loeb's hedge fund, Third Point, which has taken a stake in the company, according to sources cited by WSJ.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 7:51 pm

PFE

Pfizer Inc (NYSE:PFE) is shifting its strategic focus from COVID-19 to cancer drugs, aiming to recover from a significant market value loss. The company plans to increase its oncology biologic drugs from 6% to 65% by 2030, following a challenging period with over $100 billion in market value lost. Pfizer's acquisition of Seagen doubles its oncology pipeline to 60 programs, with expectations of eight blockbuster medicines by 2030. The company also focuses on expanding its respiratory syncytial virus vaccine and developing treatments for sickle cell disease and obesity.

Portfolio Pulse from Vandana Singh

March 11, 2024 | 6:51 pm