Streetbeat News

Acquisitions Mergers

WBX

Wallbox (NYSE:WBX) and Bidirectional Energy have been awarded $2.2M by the California Energy Commission for a project involving the installation of Wallbox's Quasar 2 bidirectional chargers in 120 California homes. These chargers, managed by Bidirectional Energy's VPP platform, aim to provide energy backup, reduce utility bills, and offer financial rewards by leveraging vehicle-to-grid technology. The project supports California's clean energy goals and the transition to renewable energy, with potential savings for users exceeding $1,000 annually.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:33 pm

CNXA

Connexa has entered into an agreement to acquire a 70% stake in Yuanyu Enterprise Management Co., Limited for a combination of cash and shares, with the total transaction valued at $56 million.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:32 pm

RDDT

Reddit, Inc. (NYSE:RDDT) is set to debut on Wall Street with its IPO priced at $34 per share. Gene Munster expressed concerns over the pricing, suggesting it overlooks fundamentals and is high compared to peers like Snap and Pinterest. Munster highlighted Reddit's smaller user base and modest AI revenue. Despite his skepticism, others like Daniel Ives from Wedbush see the IPO as a significant opportunity, especially with positive market sentiment following Federal Reserve's rate cut hints.

Portfolio Pulse from Shanthi Rexaline

March 21, 2024 | 12:18 pm

AAPL

MSFT

Apple Inc is in talks with Google to integrate Google's generative AI model, Gemini, into the next iPhone, aiming to enhance AI features. Microsoft Corporation has hired AI pioneer Mustafa Suleyman to lead its consumer-oriented Copilot business, further deepening its AI focus. These moves by Apple, Google, and Microsoft underscore the competitive landscape in AI technology among big tech companies.

Portfolio Pulse from Upwallstreet

March 21, 2024 | 12:14 pm

APO

NFLX

PARA

PEJ

RSPC

Apollo Global Management Inc (APO) has offered $11 billion to buy Paramount Global's (PARA, PARAA) film and TV studio, surpassing Paramount's market value of $7.7 billion. The bid is part of a review by Paramount's independent committee, which is also considering a merger with Skydance Media. Paramount, known for hits like 'Top Gun: Maverick', has seen interest from various buyers, including Netflix Inc (NFLX). Paramount's stock rose following Apollo's bid announcement. Other strategic options for Paramount include talks with Warner Bros. Discovery Inc (WBD) and a potential partnership with Comcast Corp (CMCSA). Paramount's stock can be accessed through Invesco ETFs (RSPC, PEJ).

Portfolio Pulse from Anusuya Lahiri

March 21, 2024 | 12:03 pm

BNZI

Banzai International, Inc. (NASDAQ:BNZI) announced the acquisition of 200 customers in February 2024, including 133 new and 67 reactivating customers. The company's growth is attributed to its strong execution across healthcare, consulting, and financial services sectors. Notable new customers include Enovis, Fluence, Onsi, Applied Value Group, Nsight, Quickparts, and ComboCurve.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:02 pm

ILMN

Illumina's stock price increased following a decision by Europe's top court that EU antitrust regulators overstepped their authority by blocking Illumina's acquisition of Grail.

Portfolio Pulse from Charles Gross

March 21, 2024 | 11:54 am

CLVT

Clarivate announced an agreement to acquire AI startup MotionHall, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:51 am

BA

EADSY

JPNRF

Japan Airlines Co Ltd (OTC:JPNRF) announced plans to purchase 42 new aircraft from Boeing Company (NYSE:BA) and Airbus SE (OTC:EADSY) for fleet renewal, focusing on growth in North America, Asia, and India. The order includes 21 Airbus A350-900, 11 A321neo, and 10 Boeing 787-9 aircraft, with deliveries starting in fiscal 2027. This move aims to expand JAL's full-service and low-cost carriers by about 1.4 times by 2030.

Portfolio Pulse from Shivani Kumaresan

March 21, 2024 | 11:30 am

GAME

GameSquare Holdings, Inc. (NASDAQ:GAME) celebrates FaZe Clan's success with their energy drink FaZe Pop, which became the top-selling new energy product in 7Eleven for 2023, achieving its best sales month in February 2024. FaZe Clan, acquired by GameSquare, excels in engaging gamers through strategic brand partnerships and licensing deals, expanding their global audience.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:19 am