Streetbeat News

Acquisitions Mergers

AMD

Advanced Micro Devices (NASDAQ:AMD) has seen a mix of bullish and bearish options trading, with a significant amount of money indicating a bearish stance. The trading activity suggests a price range target of $130 to $360 for AMD in the next three months. The company, known for its CPUs and GPUs, recently acquired FPGA leader Xilinx. Current trading volume is 7,082,136 with a slight price increase of 0.89% to $212.51. Analysts have mixed views, with an average target price of $203. Industry analysts from Mizuho, DZ Bank, Barclays, and Cantor Fitzgerald have provided ratings and target prices ranging from $190 to $235.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 3:01 pm

MTRS

Metros Development Co., Ltd. (NASDAQ:MTRS) is set to IPO on March 08, offering shares at an expected price between $8.00 and $9.00. The company, a real estate consulting firm focusing on identifying and purchasing underdeveloped properties for resale to developers, has a 180-day insider lock-up period ending on September 04, 2024.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 3:00 pm

SJA

SolarJuice Co., Ltd. (NASDAQ:SJA) is set to IPO on March 08, offering shares between $4.00 and $6.00 with a 180-day insider lock-up period. The company specializes in solar PV energy solutions and roofing installation in Australia and the US.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 3:00 pm

AGR

IBDSF

Avangrid Inc (NYSE:AGR) shares surged after a non-binding proposal from Iberdrola, S.A. (OTC:IBDSF) to acquire all outstanding shares not owned by it for $34.25 each, a 7% premium over the last closing price. The proposal is subject to approval by Avangrid's unaffiliated committee and shareholders. Avangrid operates in 24 U.S. states with $44 billion in assets, including utilities and renewable energy facilities.

Portfolio Pulse from Shivani Kumaresan

March 07, 2024 | 2:30 pm

BHP

COPP

JIAXF

NEM

SLGGF

Ecuador announced a $3.2 billion investment in SolGold's Cascabel copper-gold project, marking a significant move in the country's mining sector. This investment aims to leverage the growing copper market amid supply constraints. SolGold, which saw its shares surge 23%, also revealed a reduction in upfront costs for the project and signed an MoU for a potential carbon-neutral power supply. Major stakeholders in SolGold include BHP, Newmont, and Jiangxi Copper, with the Sprott Copper Miners ETF also related to the copper industry.

Portfolio Pulse from Stjepan Kalinic

March 07, 2024 | 2:29 pm

JVA

Coffee Holding Co., Inc. (NASDAQ:JVA) and Delta Corp Holdings Limited announced the SEC's approval of their proposed business combination's registration statement. A special meeting for Coffee Holding's stockholders is scheduled for March 28, 2024, to vote on the merger, which would result in both companies becoming subsidiaries of a new Cayman Islands-based holding company. Coffee Holding's board unanimously recommends approval of the merger.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 2:25 pm

GE

General Electric Company (NYSE:GE) shares rose after the company announced that GE Aerospace reaffirmed its guidance, including a $10 billion operating profit target for 2028. GE Aerospace is set to become an independent public company in 2024. GE plans to return 70-75% of available funds through dividends and share buybacks, with a 30% dividend payout and a $15 billion share buyback plan. The company forecasts low-double-digit revenue growth for FY24 and FY25, with operating profits increasing annually through FY28.

Portfolio Pulse from Nabaparna Bhattacharya

March 07, 2024 | 2:24 pm

GROM

Grom Social Enterprises' shares are trading higher following the announcement of a non-binding letter of intent to acquire Arctic7, indicating a potential expansion and growth strategy.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 2:18 pm

DHCA

DHC Acquisition Corp. (NASDAQ:DHCA) shareholders approved the business combination with Brand Engagement Network Inc. (BEN), to be listed on Nasdaq as BNAI. The approval occurred during the Extraordinary General Meeting on March 5, 2024. The combined entity will operate under the name Brand Engagement Network Inc. and expects to be listed with the ticker BNAI, with warrants under BNAIW.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 2:14 pm

GM

RTX

Neural Propulsion Systems (NPS) has secured a $17.5 million Series B funding round led by Cota Capital, with contributions from GM Ventures and RTX Ventures. The funding will be used to develop NPS's Atomic Sensing Platform for automotive radar technology, aiming to enhance road safety and defense radar systems. The technology promises over 10 times the performance of current radar capabilities, potentially revolutionizing the $28 billion radar market.

Portfolio Pulse from Anusuya Lahiri

March 07, 2024 | 2:10 pm