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Acquisitions Mergers

AVTR

DHR

LLY

NVO

TMO

WAT

WUXIF

Goldman Sachs highlights a significant opportunity in the biotech sector for outsourcing the production of obesity therapeutics, projecting the global obesity market to reach $100 billion by 2030, potentially expanding up to $400 billion. Novo Nordisk and Eli Lilly, current leaders in the market, are expected to outsource 50% of their production to meet demand, creating a $5 billion opportunity for outsourced providers. Seven biotech stocks, including Avantor, Thermo Fisher, Waters Corp., Agilent Technologies, Danaher, Wuxi AppTec, and Asymchem Laboratories, are identified as beneficiaries of this trend.

Portfolio Pulse from Piero Cingari

March 13, 2024 | 4:35 pm

EQIX

GOOG

GOOGL

Equinix, Inc. (NASDAQ:EQIX) announced the appointment of Adaire Fox-Martin as the new President and CEO, effective second-quarter 2024. Fox-Martin, previously with Alphabet Inc's Google Cloud, succeeds Charles Meyers, who becomes Executive Chairman. The company recently reported a Q4 FY23 adjusted FFO per share of $7.30 and sales of $2.11 billion. EQIX shares are trading lower by 1.71%.

Portfolio Pulse from Lekha Gupta

March 13, 2024 | 4:24 pm

PYPL

PayPal Holdings Inc (NASDAQ:PYPL) stock is on the rise, up 5% during midday trading, following the announcement of Aaron J. Webster joining as chief enterprise services officer and a strategic meeting hosted by JPMorgan. The company is focusing on high-margin strategies, including improving transaction margin dollar growth and launching the Fastlane initiative for online checkouts. Additionally, PayPal plans to expand into offline payment channels and monetize Venmo through enhanced debit card penetration and targeted rewards. Shares were up 4.09% to $62.98.

Portfolio Pulse from Surbhi Jain

March 13, 2024 | 3:37 pm

CMPS

CYBN

MNMD

Cybin Inc. (NYSE:CYBN) received FDA Breakthrough Therapy designation for CYB003, a psilocybin analog for Major Depressive Disorder (MDD), following positive Phase 2 results. This marks a significant step in psychedelic-based treatments for mental health, alongside similar designations for MindMed's LSD-derived treatment and Compass Pathways' psilocybin therapy. Cybin also announced a $150M private placement to fund Phase 3 development of CYB003.

Portfolio Pulse from Lara Goldstein

March 13, 2024 | 3:33 pm

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) shares hit all-time highs as Bitcoin's price surpassed $73,000. The company recently acquired an additional 12,000 Bitcoin, increasing its total holdings to about 205,000 Bitcoin. Michael Saylor, the company's executive chairman, emphasized his long-term commitment to Bitcoin in interviews. Analysts have significantly raised their price targets for MSTR, with Canaccord Genuity and TD Cowen updating their outlooks. The stock's historical annualized performance suggests a potential future price, assuming the continuation of its past trend.

Portfolio Pulse from Erica Kollmann

March 13, 2024 | 3:20 pm

LICY

Li-Cycle Holdings Corp (LICY) shares surged 20% to $0.70 after announcing a $75 million investment from Glencore plc through a senior secured convertible note agreement. This investment is intended to enhance Li-Cycle's liquidity during its strategic review process, particularly for the paused Rochester Hub project. Glencore will also gain increased representation on Li-Cycle's board. Li-Cycle plans to announce its full-year 2023 financial results by March 15.

Portfolio Pulse from Henry Khederian

March 13, 2024 | 3:14 pm

GXAI

Gaxos.ai Inc. (NASDAQ:GXAI) shares surged after announcing the acquisition of rights to use AI-enabled biohacking technology from Ultiself, aiming to enhance its Gaxos Health product offering with improved customization and user experience.

Portfolio Pulse from Erica Kollmann

March 13, 2024 | 3:10 pm

RUM

Rumble shares are trading higher after the US House passed a bill that could lead to a TikTok ban unless it divests from ByteDance. Rumble's CEO, Chris Pavlovski, expressed readiness to join a consortium to acquire and operate TikTok in the US if ByteDance divests.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 2:48 pm

BNPQY

BNP Paribas (OTC:BNPQY) plans to increase its cost-cutting target by €400 million, aiming for a total of €2.7 billion in savings from 2022 to 2025. The savings will come from automation, lower purchases, and more efficient operations. The bank expects higher net income in 2024 than in 2023 and aims for a ROTE of 11.5% to 12% in 2025 and 12% in 2026, with a 60% payout ratio, planning to return €20 billion to shareholders from 2024-2026. Additionally, BNP Paribas has launched a share buyback program of up to €1.055 billion for 2024. Despite a 50.1% Y/Y decline in Q4 FY24 net income, BNPQY shares rose 3.03% to $33.62.

Portfolio Pulse from Lekha Gupta

March 13, 2024 | 2:39 pm

AMD

DARP

NACP

NVDA

AMD's AI ambitions are questioned as its stock surges, with concerns about its valuation and slower growth compared to Nvidia, which remains the preferred choice for AI applications. Despite AMD's stock rising 116% since late October, Wall Street projects slower growth and declining earnings estimates for AMD, while Nvidia's revenue is expected to jump 80% this fiscal year. Nvidia is seen as the leading near-term winner in AI, with its chips being the preferred choice and its stock trading at a more modest multiple compared to AMD. Investors can gain exposure to Nvidia through ETFs like NACP and DARP.

Portfolio Pulse from Anusuya Lahiri

March 13, 2024 | 2:37 pm