Streetbeat News

Acquisitions Mergers

JWN

Nordstrom Inc is exploring the possibility of going private with the assistance of Morgan Stanley and Centerview Partners. The company's founding family is revisiting this idea six years after a previous attempt failed. They are currently gauging interest from private equity firms for a potential deal, although there is no guarantee that a deal will materialize.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 1:32 pm

NVDA

SMCI

Super Micro Computer Inc (NASDAQ:SMCI) shares fell after announcing a proposed public offering of 2 million shares, with an option for underwriters to buy an additional 300,000 shares. This follows a significant rally of over 250% since the year's start, attributed to its AI positioning and the announcement of new AI systems featuring Nvidia Corp's (NASDAQ:NVDA) data center products. Despite the drop, SMCI has outperformed its historical averages with a 724.94% gain year to date. The stock's RSI of 29.98 suggests it is currently oversold.

Portfolio Pulse from Adam Eckert

March 19, 2024 | 1:24 pm

BTCUSD

ETHUSD

SPY

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are trading mixed amid a wider market correction, with predictions of Bitcoin rallying to $160K. In the US market, DLocal reported mixed Q4 results, joining other stocks moving lower. Global and US political developments include discussions on property seizures, social media censorship, and international tensions. The US and world economy show signs of strength and challenges, with rate changes and legal issues for companies like Evergrande. In tech, AI's impact on companies like Apple, Nvidia, and Tesla is highlighted, alongside discussions on electric vehicles and cybersecurity collaborations. Consumer, communication, industrial, and healthcare sectors also saw significant news.

Portfolio Pulse from Akanksha Bakshi

March 19, 2024 | 1:17 pm

WKHS

Workhorse Group Inc. (NASDAQ:WKHS) announced an agreement with an institutional investor for financing transactions up to $139M to support its zero emission commercial vehicles roadmap. The deal includes senior secured convertible notes and warrants, with an immediate $9M note and related warrants issued to provide liquidity for operations and redeem existing debt.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 1:05 pm

FRSX

Foresight Autonomous Holdings Ltd. (FRSX), through its subsidiary Eye-Net Mobile Ltd., has secured an additional order from a leading Japanese vehicle manufacturer for a development project aimed at integrating Eye-Net's V2X communication technology, Eye-Zone™, into the manufacturer's ADAS systems. This follows the successful completion of initial phases of a proof-of-concept project demonstrating the technology's potential benefits for automotive safety and communication.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:44 pm

MTSI

NOC

MACOM Technology Solutions Inc. (MTSI) has been awarded two supplier awards by Northrop Grumman Corporation (NOC) for its contributions to national security solutions and support of manufacturing and distribution goals. The awards highlight MACOM's commitment to quality excellence and its role as a top large business partner in the defense industry.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:33 pm

ERIC

Ericsson (NASDAQ:ERIC) has launched Ericsson Federal Technologies Group (EFTG) to drive 5G digital transformation for U.S. federal agencies, emphasizing national security and economic benefits. EFTG, led by Christopher Ling, aims to leverage Ericsson's 5G technology and Made in the USA equipment to meet U.S. Government requirements. The initiative underscores Ericsson's commitment to U.S. connectivity, security, and technological leadership.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:21 pm

MDAI

Spectral AI, Inc. (NASDAQ:MDAI) has received a $1 million investment from an affiliate of its largest shareholder for its subsidiary Spectral IP, Inc., focusing on intellectual property in the AI ecosystem. The investment aims to enhance Spectral AI's position in the AI and healthcare sectors by developing or acquiring IP. Spectral IP will work on advancing IP through acquisitions, partnerships, and collaborations to accelerate innovation and expand market reach.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:13 pm

FUSN

GWAV

LICY

OTRK

ZCAR

Fusion Pharmaceuticals Inc. (FUSN) shares surged approximately 95% in pre-market trading after AstraZeneca announced its acquisition of the company for about $2 billion in cash. Other stocks showed significant movement in pre-market trading, with notable gainers including Ontrak, Inc. (OTRK), Zoomcar Holdings, Inc. (ZCAR), and Li-Cycle Holdings Corp. (LICY), among others. Conversely, several stocks experienced declines, such as Greenwave Technology Solutions, Inc. (GWAV), JOANN Inc. (JOAN), and ShiftPixy, Inc. (PIXY).

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 12:11 pm

MOBX

Mobix Labs Inc. (NASDAQ:MOBX) has entered into a $100 million common stock purchase agreement with B. Riley Principal Capital II, LLC, enhancing its financial flexibility for future growth and M&A strategy. This agreement allows B. Riley to purchase up to $100 million of Mobix Labs Class A common stock, with the terms of the sale at Mobix Labs' discretion. The funding is aimed at accelerating the development of disruptive mmWave 5G and C-Band wireless solutions, as well as supporting strategic acquisitions to expand into new markets and enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:07 pm