Streetbeat News

Acquisitions Mergers

CLVT

Clarivate has announced its intention to acquire a significant majority of assets from MotionHall, an AI start-up. This acquisition aims to enhance strategy and business development for clients in the life sciences and healthcare sectors.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 8:02 am

DOGE

RDDT

Glauber Contessoto, known for his Dogecoin fortune, predicts the meme coin $RDDT could outperform Reddit's upcoming IPO. Reddit aims to raise $748 million, valuing the company at $6.5 billion. RDDT, with a market cap of $7.82 million, would need a 9465.22% increase to match Reddit's IPO valuation. The Reddit IPO is highly anticipated, being five times oversubscribed, and will trade under the ticker 'RDDT' on the NYSE.

Portfolio Pulse from Benzinga Neuro

March 21, 2024 | 7:44 am

SOLO

Shareholders of ElectraMeccanica Vehicles have approved the company's acquisition by Xos. This strategic move could potentially enhance the market position and financial stability of both companies.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 7:41 am

ACN

Accenture plc (NYSE:ACN) is anticipated to report a decrease in Q2 earnings to $2.66 per share from $2.69 the previous year, with projected revenue of $15.84 billion. The company recently acquired Flo Group to enhance its supply chain logistics in Europe. Shares rose 0.6% to $380.44. Analysts from Stifel, Citigroup, Wedbush, Deutsche Bank, and Baird have updated their ratings and price targets for ACN, reflecting a generally positive outlook.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 6:41 am

COIN

LTCUSD

Coinbase Global is set to launch futures trading for Litecoin, Dogecoin, and Bitcoin Cash on April Fool's Day, following their filing with the Commodity Futures Trading Commission. This move, amidst market volatility and Coinbase's own technical issues, reflects growing interest in cryptocurrencies. Litecoin surged 6.78% to $86.03 upon the announcement. The decision raises regulatory questions regarding the classification of these Bitcoin offshoots as commodities futures versus securities futures.

Portfolio Pulse from Benzinga Neuro

March 21, 2024 | 4:18 am

ARKK

ARKW

CERS

MRNA

PSNL

SQ

TWLO

Cathie Wood's Ark Invest sold shares of Block Inc (SQ) worth $3.5 million through ARKK and ARKW ETFs, amidst a Bitcoin price recovery. The sale is part of a week-long trend, totaling $19.95 million in Block shares sold. Additionally, Ark Invest made purchases in Cerus Corp (CERS), Personalis Inc (PSNL), and Moderna Inc (MRNA), while selling Twilio Inc (TWLO) shares.

Portfolio Pulse from Benzinga Neuro

March 21, 2024 | 3:40 am

AAPL

Parler, a social media network, has returned to Apple Inc.'s App Store under new ownership, promising to ban violent and controversial content. The platform, offline since April 2023, is now invite-only and anticipates Android approval. The return follows a year of challenges, including being removed from app stores after the Jan. 6 Capitol riot and significant layoffs.

Portfolio Pulse from Benzinga Neuro

March 21, 2024 | 3:32 am

NVDA

NVIDIA Corp's CEO, Jensen Huang, discussed the company's focus on humanoid robots and embodied AI, citing the abundance of human movement data as a key reason. At a San Jose conference, Nvidia unveiled Project GROOT, aimed at advancing humanoid robot technology. Despite Huang's optimistic outlook on AI and Nvidia's technology, the company's stock dipped slightly after his presentation, while stocks of other mentioned companies rose. The upcoming GTC 2024 conference is expected to highlight new AI products, use cases, and partnerships.

Portfolio Pulse from Benzinga Neuro

March 21, 2024 | 2:16 am

FGI

FGI Industries forecasts Full Year 2024 revenues to be between $115M-$128M, slightly above the estimated $115.407M. The company also projects an adjusted operating income of $2.8M-$3.8M and an adjusted net income of $1.2M-$2.0M. FGI emphasizes its focus on organic growth and strategic M&A opportunities.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 9:28 pm

TSVT

2seventy bio has appointed Eli Casdin and Charles Newton to its Board of Directors, effective immediately. Casdin Capital, where Eli Casdin serves as CIO, owns about 2.3% of 2seventy bio's shares. Additionally, Engine Capital has nominated two individuals for election to the Board at the 2024 Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 9:13 pm