Streetbeat News

Acquisitions Mergers

KW

Kennedy Wilson's real estate debt investment platform has grown significantly, reaching $7B in originations. This growth was propelled by the acquisition of a $4.1 billion loan portfolio from a regional bank and the integration of its lending team. The company has since closed $500 million of new loans and expects to close an additional $1.3 billion by Q2 2024, focusing on multifamily and student housing construction lending.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 11:22 am

DECK

M

QQQ

SMCI

SPY

Wall Street exhibits caution despite recent record highs in the Nasdaq and S&P 500, with a focus on upcoming Fed speeches and labor market data. Cryptocurrency markets, particularly Bitcoin, show strength, potentially influencing stock market sentiment. Notable stock movements include Macy's, Super Micro Computer, and Deckers Outdoor due to acquisition offers and S&P 500 index inclusion. Upcoming economic data and corporate earnings reports are anticipated to impact market direction.

Portfolio Pulse from Shanthi Rexaline

March 04, 2024 | 11:21 am

NVDA

China is offering 'computing vouchers' worth $140,000 to $280,000 to AI startups to mitigate the impact of U.S. chip restrictions. This initiative aims to support the training and operation of large language models (LLMs) amid challenges such as contract cancellations by cloud computing services due to U.S. controls. Nvidia (NASDAQ:NVDA) chips are being repurposed for AI tasks due to these restrictions. Additionally, China plans to introduce a subsidy program for AI groups using domestic chips and is developing an alternative to Big Tech's data centers.

Portfolio Pulse from Benzinga Neuro

March 04, 2024 | 11:15 am

DLR

Digital Realty (NYSE:DLR) and Mitsubishi Corporation have formed a joint venture for the development of two data centers in Dallas, pre-leased to an S&P 100 customer. Mitsubishi acquired a 65% equity interest with an initial $200 million contribution, while Digital Realty holds a 35% interest and will manage the venture. The project, with a first phase budget of $400 million, aims for a late 2024 completion, offering up to 48 MW of IT load.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 11:06 am

ENSG

The Ensign Group has expanded its portfolio by acquiring three skilled nursing facilities in Atchison, Kansas; Parker, Colorado; and Lakewood, Colorado, with a total of 350 beds. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 11:03 am

M

Macy's Inc (NYSE:M) stock is surging due to a revised takeover bid of $24.00 per share in cash from Arkhouse Management Co. LP and Brigade Capital Management, LP, representing a 33.3% premium over its March 1, 2024, closing price. This follows Macy's rejection of an initial offer and comes amid a board challenge from Arkhouse. Macy's Q4 revenue declined 1.4% YOY, and the company plans to close 150 locations by 2026.

Portfolio Pulse from Shivani Kumaresan

March 04, 2024 | 11:02 am

RNLX

Renalytix has received an unsolicited acquisition approach from a large, publicly listed strategic diagnostics company. The company is reviewing options, including a sale, and has started a formal sale process. This process is aimed at optimizing outcomes for shareholders and may conclude with Renalytix continuing as an independent entity on AIM and Nasdaq. The Takeover Panel has granted certain dispensations for the process, and Stifel Nicolaus Europe Limited is to be appointed as the financial adviser.

Portfolio Pulse from Charles Gross

March 04, 2024 | 10:19 am

LEAS

RWOD

ANEW Medical, Inc. (OTCPK: LEAS), a US-based biotech company, has been granted a patent in China for its Klotho protein and gene delivery systems for treating neurodegenerative diseases. Additionally, ANEW announced a proposed merger with SPAC Redwoods (NASDAQ: RWOD) in May 2023.

Portfolio Pulse from Charles Gross

March 04, 2024 | 10:15 am

LLAP

LMT

Terran Orbital reported in an amended 13D filing that Lockheed Martin has offered to acquire the company for $1.00 per share in cash. This offer represents a significant move by Lockheed Martin to expand its presence in the space industry by acquiring Terran Orbital.

Portfolio Pulse from Charles Gross

March 04, 2024 | 10:11 am

DECK

SMCI

ZION

Super Micro Computer, Inc. (SMCI) and Deckers Outdoor Corporation (DECK) are set to join the S&P 500, replacing Zions Bancorporation (ZION). In pre-market trading, SMCI shares surged 13.4%, while DECK shares rose 7.1%. Other notable movers include BitFuFu Inc. (FUFU) with a 173% jump after completing a business combination, and Macy's, Inc. (M) climbing 13.3% following an elevated bid from Arkhouse & Brigade Capital. The overall U.S. stock futures were mixed.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 10:01 am