Streetbeat News

Acquisitions Mergers

EPOW

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) announced its 'High-Energy Fast Charging Lithium Battery Graphite Anode Project' received approval from Guizhou Province's Department of Science and Technology. This project, part of the 'Industrialization of Advanced Scientific and Technological Achievements' plan, aims to enhance energy density, charging efficiency, and cycling performance of lithium batteries. The approval will provide additional funding and support, positioning EPOW as a leader in high-end battery graphite anode materials.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 2:28 pm

WDC

JCET is set to acquire an 80% stake in Western Digital's SanDisk China unit, as reported by Reuters. This strategic move could significantly impact Western Digital's operations and financials, potentially altering its market position and investor sentiment.

Portfolio Pulse from Charles Gross

March 04, 2024 | 2:27 pm

DIS

Walt Disney Co (NYSE:DIS) shares are trading higher after Blackwells Capital released an investor presentation titled "The Future of Disney" and Morgan Stanley updated its rating to Overweight with a price target increase from $110 to $135. Blackwells Capital is pushing for board changes at Disney's 2024 Annual Meeting, criticizing the current board's lack of expertise in key areas. Interest rates and Disney's revenue growth are also discussed as factors influencing the stock's future performance.

Portfolio Pulse from Adam Eckert

March 04, 2024 | 2:27 pm

SAVE

Spirit Airlines announced the termination of its merger agreement with JetBlue, leading to a decrease in Spirit Airlines' share price.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 2:14 pm

ALLE

Allegion plc (NYSE:ALLE), a security products provider, has acquired Spain-based electro-mechanical access control solutions manufacturer Dorcas to enhance its international access control solutions. Dorcas will be integrated into the Allegion International segment. The acquisition aims to strengthen Allegion's portfolio with Dorcas' electric strikes and locks. Allegion had $468.1 million in cash and equivalents as of the end of 2023, and its shares closed lower by 0.84% at $126.80 recently.

Portfolio Pulse from Shivani Kumaresan

March 04, 2024 | 2:13 pm

FUFU

BitFuFu's shares are experiencing increased trading activity and volatility after the company completed a business combination with Arisz Acquisition Corp, leading to its listing on the Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 2:11 pm

HURN

Huron (NASDAQ:HURN) has completed the acquisition of GG+A, a leading philanthropic management consulting firm. This move aims to enhance Huron's offerings in empowering educational, healthcare, arts, and nonprofit organizations through advanced philanthropic programs. The acquisition is expected to strengthen Huron's Education operating segment by integrating GG+A's consulting expertise with Huron's digital capabilities and client relationships.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 2:09 pm

LLAP

Terran Orbital Corporation (NYSE:LLAP) announced the adoption of a limited duration stockholder rights plan following a non-binding proposal from Lockheed Martin to acquire all outstanding shares. The plan aims to protect stockholder interests and ensure they realize full investment value. An independent committee will evaluate the Lockheed Proposal and other strategic alternatives. The Rights Plan discourages control through open market accumulation without a fair premium and encourages negotiation with the Board.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 2:08 pm

MP

MP Materials Corp (NYSE:MP) announced a proposed offering of $500 million in convertible senior notes due 2030 and increased its share repurchase authorization to $300 million. The proceeds will fund capped call transactions, repurchase common stock and a portion of its 0.25% green convertible senior notes due 2026, and for general corporate purposes. MP Materials shares were up 1.36% at $15.68 following the announcement.

Portfolio Pulse from Adam Eckert

March 04, 2024 | 2:08 pm

YGMZ

MingZhu Logistics (YGMZ) has signed a non-binding letter of intent to acquire driverless auto technologies and an intellectual property portfolio valued between $80M and $90M.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 2:05 pm