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Acquisitions Mergers

TCNNF

The article highlights the achievements of 22 influential women in the cannabis industry, emphasizing their leadership, innovation, and contributions. It mentions their participation in the upcoming Benzinga Cannabis Capital Conference in Florida, April 2024. Key figures include Kim Rivers of Trulieve, who has led the company's growth through strategic mergers and acquisitions, and Nancy Whiteman of Wana Brands, recognized for her leadership and the brand's expansion under Canopy Growth Corp. The conference aims to celebrate these women's achievements and offer networking opportunities for cannabis entrepreneurs.

Portfolio Pulse from Abbey Higginbotham

March 08, 2024 | 9:25 pm

AAPL

JPM

MSFT

NFLX

NVDA

NYCB

The U.S. stock market reached record highs, influenced by Federal Reserve Chair Jerome Powell's hints at potential rate cuts. Nvidia's market cap hit $1 trillion rapidly, highlighting its growth in AI and semiconductors. New York Community Bancorp secured a $1-billion equity investment, causing dilution for current shareholders. Microsoft faced a security breach by Russian hackers. JPMorgan's AI tool significantly improved banking efficiency. Apple invested $1 billion in filmmaking to boost its streaming service, and Netflix ventured into live sports with a high-profile boxing match.

Portfolio Pulse from Piero Cingari

March 08, 2024 | 9:19 pm

ACB

Aurora Cannabis (NASDAQ:ACB), a leading global cannabis company, is well-positioned in Germany following the country's legalization of adult-use marijuana. Germany's reform is significant for Aurora, especially in the medical marijuana sector, where the company aims to expand its patient outreach. Aurora's VP of external affairs, Dirk Heitepriem, expressed optimism about leveraging their global experience for success in Germany's evolving market. The company's shares traded 3.92% higher at $3.18 per share following the news.

Portfolio Pulse from Nina Zdinjak

March 08, 2024 | 8:32 pm

AAPL

GFS

NVDA

TSM

Taiwan Semiconductor Manufacturing Corp. (TSMC) is expected to receive up to $5 billion in grants from the U.S. government for a chip fabrication facility in Arizona to meet the demand from major customers like Apple and Nvidia. The facility is part of TSMC's $40 billion investment in semiconductor manufacturing in Phoenix, aiming to start production in 2025. This move aligns with the U.S. CHIPS Act's goal to boost domestic semiconductor production.

Portfolio Pulse from Neil Dennis

March 08, 2024 | 7:39 pm

JWSM

Starwood Capital Entities and Jaws Mustang Acquisition Corp (JWSM) have signed a non-binding letter of intent for a potential business combination. This deal involves Starwood's portfolio of hotels, including 1 Hotels in Manhattan and Brooklyn, and the De Vere Portfolio in the UK. The combined entity aims to be a growth-oriented, publicly-listed hospitality company on a national securities exchange.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 7:02 pm

BBAI

BigBear.ai, Inc. (NYSE:BBAI) reported Q4 financial results below expectations, with a loss of 14 cents per share against an estimated 5 cents, and sales of $40.563 million missing the $42.755 million forecast. Despite a year-over-year sales increase of 0.51%, the stock dropped. The company also completed the acquisition of Pangiam Intermediate Holdings. After a surge due to Nvidia's earnings, BBAI shares are still up nearly 50% over the past month but fell 31.7% to $2.56 following the earnings report.

Portfolio Pulse from Erica Kollmann

March 08, 2024 | 6:58 pm

BLK

CDIO

BlackRock, Inc. (NYSE:BLK) is set to acquire SpiderRock Advisors, a provider of customized option overlay strategies in the U.S. wealth market, expanding its offerings in personalized separately managed accounts (SMAs). The financial terms were not disclosed, but the deal is not expected to materially impact BlackRock's earnings. This follows BlackRock's minority investment in SpiderRock Advisors in 2021 and a recent minor stake acquisition in Cardio Diagnostics Holdings Inc. (NASDAQ:CDIO). SpiderRock Advisors managed about $4.8 billion in client assets as of February 2024. The acquisition is anticipated to close in the second quarter of 2024.

Portfolio Pulse from Nabaparna Bhattacharya

March 08, 2024 | 6:46 pm

NYCB

New York Community Bancorp (NYSE:NYCB) faces volatility after announcing a $1 billion equity infusion and management changes. Analysts offer mixed views, with concerns about the dilutive impact of the deal and the uncertain path ahead despite the potential for a turnaround under new CEO Joseph Otting. The bank's shares are down 8% to $3.36, reflecting a 64% year-to-date decline in 2024.

Portfolio Pulse from Chris Katje

March 08, 2024 | 6:42 pm

AVGO

GOOG

META

Broadcom Inc (NASDAQ:AVGO) shares fell despite reporting strong Q4 results, with analysts highlighting its AI, dividends, and M&A benefits. JPMorgan, Goldman Sachs, BofA Securities, Truist Securities, Mizuho Securities, and Oppenheimer all maintained or upgraded their ratings, citing robust AI demand and the VMware acquisition's synergy. AI-related sales expectations for FY24 were increased from $7.5B to $10B, notably with significant orders from Alphabet (NASDAQ:GOOG) and Meta Platforms Inc (NASDAQ:META).

Portfolio Pulse from Priya Nigam

March 08, 2024 | 6:40 pm

MNMD

MindMed (NASDAQ:MNMD) announced an underwritten offering and private placement expected to raise $175M, following positive 12-week clinical data on its LSD therapy for generalized anxiety. The offering involves 16,666,667 common shares at $6.00 each, with participation from new investors including Deep Track Capital and Commodore Capital. Oppenheimer Equity Research has given the stock an outperform rating, with a 12-18 month price target of $29.00, highlighting the company's systematic approach and promising data in the psychedelic field.

Portfolio Pulse from Lara Goldstein

March 08, 2024 | 6:01 pm