Streetbeat News

Acquisitions Mergers

X

Nippon Steel's executive VP, Takahiro Mori, plans to meet the USW chief to gain support for the $14.9 billion acquisition of U.S. Steel, aiming to finalize the deal by September. The merger faces opposition from lawmakers and concerns about national security, but Mori is optimistic, citing plans to maintain jobs and introduce advanced technologies. The deal's approval hinges on a shareholder vote, delayed for additional SEC paperwork, with hopes that union support will mitigate political challenges. Mori warns that rejecting the deal could deter Japanese investment in the U.S.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 5:05 pm

VST

BMO Capital has reaffirmed its Outperform rating on Vistra (NYSE:VST) and increased its price target from $52.00 to $60.00. Vistra's shares have risen 1.47% in the last 24 hours to $55.30. The new price target suggests an 8.5% potential upside. Vistra, a major U.S. power producer and retail energy provider, is set to complete the Energy Harbor acquisition in 2023.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 5:00 pm

NKTR

Nektar Therapeutics (NKTR) shares surged following the announcement of securing $30 million in private placement financing from TCGX. This financial injection is expected to provide the company with additional resources to advance its projects and potentially improve its financial health.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:49 pm

YGMZ

MingZhu Logistics Holdings Limited (NASDAQ:YGMZ) announced its intention to acquire driverless auto technologies and IP portfolio valued between $80 million and $90 million from The Carbonomi Trust and CYF (BVI) Limited. The acquisition aims to expand and diversify MingZhu's transportation and logistics business, including a focus on Generative AI and AGI based driverless technology. The company's shares rose 17.5% to $0.55 following the announcement.

Portfolio Pulse from Shivani Kumaresan

March 04, 2024 | 4:48 pm

RNLX

Renalytix plc (NASDAQ:RNLX), an AI-powered diagnostics company focusing on kidney disease, has received an unsolicited acquisition approach, causing its stock to soar. The company is evaluating the acquisition of its entire share capital by a large, publicly-listed strategic diagnostics company. Renalytix has initiated a formal sale process to explore all options, including a potential sale of the company or assets. The company's stock surged 26.0% to $1.32, with a session volume of 9.26 million, significantly higher than its average volume of 1.42 million. Additionally, Renalytix announced that its FDA de Novo Marketing authorized test, kidneyintelX.dkd, will be added to the US Government's 10-year Acquisition Contract for early-stage kidney disease bioprognostic testing services starting March 1, 2024.

Portfolio Pulse from Vandana Singh

March 04, 2024 | 4:22 pm

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading higher as Bitcoin (BTC) surpasses the $65,000 mark. MicroStrategy, holding 193,000 Bitcoins, bought an additional 3,000 Bitcoins recently, making its total Bitcoin value over $6 billion. The company aims to become the 'world's first Bitcoin development company.' Despite a slight revenue decline in FY23, MicroStrategy's stock is up 19% at $1,284.63, outperforming its peers in the Information Technology sector.

Portfolio Pulse from Erica Kollmann

March 04, 2024 | 4:21 pm

NVDA

PANW

UNH

Nancy Pelosi and other Congress members have been actively trading Palo Alto Networks Inc (PANW) stock and options, with trades placed around the time of PANW's Q2 financial results. Pelosi's trades were disclosed after PANW's earnings report, which showed revenue and EPS beating estimates but with weaker guidance. The CEO of PANW hinted at a potential major government contract. Other Congress members also reported profitable trades in different stocks, highlighting their trading acumen. Additionally, UnitedHealth Group (UNH) reported a cybersecurity attack, working with Palo Alto Networks for resolution. Analysts have lowered price targets on PANW following its earnings.

Portfolio Pulse from Chris Katje

March 04, 2024 | 4:19 pm

AAL

BA

American Airlines has placed an additional order for Boeing's 737 MAX jets, reaffirming its confidence in the aircraft and Boeing's ability to deliver. This move signals a strong partnership between the two companies and a positive outlook on the future of air travel.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:03 pm

JBLU

SAVE

The Justice Department has declared the termination of the JetBlue and Spirit Airlines merger as a victory for its efforts to protect American consumers. It emphasizes its commitment to vigorously enforcing the nation's antitrust laws.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:02 pm

CLVT

CNHI

EXXRF

Exor N.V. (OTC:EXXRF) has increased its stake in Clarivate Plc (NYSE:CLVT) to 10.1% with an option to further increase it to 17.5%. Suzanne Heywood, COO of Exor, is proposed to join the Clarivate Board of Directors, pending election at the Annual General Meeting on May 7, 2024. Clarivate's shares rose by 3.01% to $7.36 following the announcement.

Portfolio Pulse from Akanksha Bakshi

March 04, 2024 | 3:56 pm