Streetbeat News

Acquisitions Mergers

BUD

DWAC

META

ORCL

Former President Donald Trump reversed his stance on banning TikTok, suggesting it would benefit Meta Platforms (META) and expressing a desire not to see Facebook prosper. This change follows the U.S. House's approval of a bill potentially banning TikTok. Trump's media company, set to merge with Digital World Acquisition Corp (DWAC), could benefit from a TikTok ban. Trump's reversal may also be influenced by his connection to Republican megadonor Jeff Yass, a significant ByteDance shareholder. Additionally, Trump's recent support for Anheuser-Busch (BUD) followed a similar pattern, raising questions about the motivations behind his public positions.

Portfolio Pulse from Chris Katje

March 14, 2024 | 10:32 pm

FMST

HYMC

IE

X

Ivanhoe Electric Inc. (IE) and its subsidiary announced advancements in exploration software, enhancing geophysical models with machine learning. President Biden plans to oppose Nippon Steel's acquisition of U.S. Steel (X), emphasizing the importance of keeping U.S. Steel American-owned. Hycroft Mining (HYMC) reported significant 2023 operating results, including high-grade silver discoveries. Foremost Lithium (FMST) completed part of its private placements, raising $1.629 million for exploration and corporate needs.

Portfolio Pulse from Austin DeNoce

March 14, 2024 | 9:48 pm

BX

Blackstone Inc. (NYSE:BX) President Jon Gray highlighted the current investment opportunities in commercial real estate, citing the market's discounted assets and growth potential. During the Bank of America Global Investor Summit, Gray pointed out the lack of fierce competition for these assets and the need for new capital in the sector. Blackstone has been active in capitalizing on these opportunities, including a bid for a $17 billion portfolio of commercial-property loans. With assets reaching $1 trillion in July 2023, Blackstone's optimistic outlook on commercial real estate is backed by its significant growth and strategic investments.

Portfolio Pulse from Piero Cingari

March 14, 2024 | 9:30 pm

WINV

WinVest Acquisition has extended its termination date to April 17, 2024, to allow more time to complete an initial business combination.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 9:05 pm

TRP

TC Energy has agreed to sell its Prince Rupert Gas Transmission (PRGT) entities to Nisga'a Nation and Western LNG. The initial proceeds from the sale are not expected to be material to TC Energy, but it could receive additional payments contingent on the project's final investment decision and commercial operation.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 9:03 pm

EVE

EVe Mobility Acquisition has extended the deadline to complete its initial business combination from March 17, 2024, to April 17, 2024. This extension provides additional time for EVE to finalize its business combination plans.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 8:41 pm

AMGN

Recent analysis of Amgen's (NASDAQ:AMGN) options activity shows a bearish sentiment among investors, with 63% of trades being bearish. The trades suggest a target price range of $230.0 to $285.0. Amgen, a biotechnology leader, is currently trading at $271.54, down by -1.61%, and may be approaching oversold territory. The company's diverse portfolio includes treatments for various diseases, with recent acquisitions expanding its offerings.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 8:30 pm

JNJ

LLY

MRK

WXXWY

WuXi AppTec and its affiliates face a setback as the Biotechnology Innovation Organization (BIO) cuts ties amid Congressional scrutiny over national security concerns. This decision affects U.S. industry giants like Eli Lilly, Merck, and Johnson & Johnson, all members of BIO. WuXi AppTec's shares fell significantly in Hong Kong and Shanghai, as did those of its sister companies, WuXi Biologics and WuXi XDC Cayman. The scrutiny stems from proposed bills aiming to restrict federal engagement with certain Chinese biotech firms. WuXi AppTec denies allegations related to national security risks.

Portfolio Pulse from Vandana Singh

March 14, 2024 | 8:03 pm

XPDB

Power & Digital Infrastructure Acquisition II Corp. (XPDB) announced the closing of its business combination with Montana Technologies LLC, inventor of AirJoule®, a renewable energy and cooling technology. The combination, supported by over $50 million in capital commitments from Carrier Corporation, Rice Investment Group, and GE Vernova, will enable the commercialization of AirJoule®. Montana Technologies Corporation will trade on NASDAQ under the symbols 'AIRJ' and 'AIRJW'. The funding and partnerships with companies like BASF, GE Vernova, CATL, and Carrier aim to scale and deploy AirJoule® units globally.

Portfolio Pulse from Happy Mohamed

March 14, 2024 | 7:47 pm

CLF

X

Cliffs CEO is considering a lowball bid for U.S. Steel, with support from the union, according to Bloomberg News. This move could potentially reshape the steel industry in the United States by consolidating two of its major players.

Portfolio Pulse from Happy Mohamed

March 14, 2024 | 7:37 pm