Streetbeat News

Acquisitions Mergers

LRNZ

NET

SPRX

Cloudflare has appointed Chirantan 'CJ' Desai as President of Product & Engineering to drive its growth towards $5 billion in annual recurring revenue. The company also acquired Kivera to enhance its cloud security offerings. Cloudflare's stock rose by 9.21% following these announcements.

Portfolio Pulse from Lekha Gupta

October 10, 2024 | 4:21 pm

BLMZ

DAL

GRTS

INDV

LXU

SYM

TXG

Crude oil prices surged by 3%, while Delta Air Lines reported disappointing third-quarter earnings. The Nasdaq Composite saw a slight gain, while the Dow and S&P 500 experienced minor declines. Notable stock movements included BloomZ Inc. rising 73% and Gritstone bio dropping 64% after filing for Chapter 11 restructuring.

Portfolio Pulse from Avi Kapoor

October 10, 2024 | 4:04 pm

CLSK

CleanSpark Inc (NASDAQ:CLSK) announced a significant increase in its operational hashrate, reaching 30 EH/s, with plans to exceed 37 EH/s by year-end. The company attributes this growth to acquisitions, fleet upgrades, and organic expansion. Despite a temporary shutdown due to Hurricane Helene, CleanSpark reported no significant damage and continued its mining operations, achieving a total of 5,079 Bitcoin mined year-to-date.

Portfolio Pulse from Adam Eckert

October 10, 2024 | 3:50 pm

MCRB

Traders are circulating an unconfirmed rumor that Nestle has made a bid to acquire Seres Therapeutics at a price between $6.90 and $7.20 per share. This potential M&A activity could impact Seres Therapeutics' stock price.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 3:41 pm

FBGL

FBS Global Limited is set to IPO on NASDAQ under the ticker FBGL on October 11, with shares priced between $4.50 and $5.00. The company specializes in green building and interior fit-out projects.

Portfolio Pulse from Benzinga Insights

October 10, 2024 | 3:00 pm

TAP

TLRY

Tilray Brands, Inc. reported a 13% year-over-year increase in Q1 net revenue to $200 million, with improvements in gross profit and net loss. The company is expanding its presence in the U.S. beverage market and continues to innovate in the cannabis sector.

Portfolio Pulse from Nina Zdinjak

October 10, 2024 | 2:21 pm

ZJK

ZJK Industrial Co. Ltd. (NASDAQ:ZJK) experienced a 36% rise in its share price following its IPO, despite a subsequent selloff. The company plans to use IPO proceeds to expand its foundry operations, potentially in Vietnam, and diversify its market presence. ZJK's strong client list and respectable financials, despite its small scale, contribute to its market appeal.

Portfolio Pulse from The Bamboo Works

October 10, 2024 | 2:07 pm

APD

D.E. Shaw, an activist investor, is targeting Air Products & Chemicals (APD) by focusing on its capital spending and nominating three directors to its board. This move indicates potential changes in the company's strategic direction.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 1:47 pm

NET

NOW

Cloudflare has appointed Chirantan 'CJ' Desai as President of Product & Engineering to drive the company's growth towards $5 billion in annual recurring revenue. Desai brings extensive experience from his previous role at ServiceNow, where he significantly contributed to the company's revenue growth.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 1:41 pm

CTLT

NVO

U.S. Sen. Elizabeth Warren has urged the FTC to investigate Novo Nordisk's $16.5 billion acquisition of Catalent, fearing it may give Novo an unfair advantage in the obesity and diabetes drug market. Catalent, a key player in drug manufacturing, also works with Novo's rival, Eli Lilly.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 1:32 pm