Streetbeat News

Acquisitions Mergers

LMT

RTX

Shares of Lockheed Martin Corp (LMT) and Raytheon Technologies Corp (RTX) have declined due to legislative deadlock in Washington, affecting U.S. defense spending. This contrasts with the rise in European defense stocks post-Russia's invasion of Ukraine. The uncertainty over the 2024 defense budget and potential reduction in F-35 orders for Lockheed Martin are key concerns.

Portfolio Pulse from Benzinga Neuro

March 04, 2024 | 9:37 am

HTOO

Fusion Fuel (HTOO) has been awarded a €1.015 million grant from the European Innovation Fund's Horizon Europe Programme as part of the H2tALENT consortium. This consortium, which includes 29 partners from six European countries and is sponsored by the Universidade de Évora, aims to develop small-scale hydrogen valleys to showcase hydrogen's decarbonization potential across the entire value chain.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 9:22 am

BAYRY

BBIO

BridgeBio Pharma and Bayer have entered into a licensing agreement for acoramidis in Europe, targeting ATTR-CM. BridgeBio will receive up to $310 million in payments plus royalties. Their New Drug Application for acoramidis has been accepted by the FDA, with a PDUFA date set for November 29, 2024, and the EMA has accepted the Marketing Authorization Application, expecting approval in 2025.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 7:34 am

SCLX

SRNEQ

Scilex Holding Company (SCLX) announced that the Creditors' Committee of Sorrento Therapeutics (SRNEQ) has filed a motion with the U.S. Bankruptcy Court to extend the lockup period for the shares distributed as a dividend to Sorrento's stockholders until September 2024. These shares were initially distributed on January 19, 2023, with a lockup period set to expire on March 31, 2024. The decision by the court is pending.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 6:55 am

ACN

Accenture has acquired The Lumery, aiming to enhance its marketing transformation services in Australia through Accenture Song. This move is expected to deepen capabilities in personalization, CRM and loyalty, testing, experimentation, and automation. Deal terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 6:49 am

Macy's received a revised acquisition offer from Arkhouse & Brigade Capital at $24 per share, a significant premium over its recent share prices. The offer, supported by Fortress Investment Group and One Investment Management US, is under review by Macy's Board, which is open to exploring options that enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 6:46 am

NFLX

Malaysia's Ministry of Transport is considering resuming the search for the missing Malaysia Airlines Flight 370 (MH370) with Ocean Infinity, a Texas-based company, proposing a 'no find, no fee' search. The Boeing 777 disappeared in 2014 with 239 people on board, and despite previous searches, remains unfound. The potential new search comes as interest in the MH370 mystery was reignited by a Netflix docuseries.

Portfolio Pulse from Benzinga Neuro

March 04, 2024 | 1:00 am

IGT

IPG

RELY

ZBH

Barron's cover story highlights the best luxury second home resort markets in the US, with Austin, Texas, Lake Geneva, Wisconsin, and Park City, Utah topping the list. Luxury second home prices rose 11% in 2015. The article also discusses investment opportunities in hedge funds through closed-end funds run by Bill Ackman and Dan Loeb, and mentions stocks like Interpublic Group (IPG), Zimmer Biomet Holdings (ZBH), Real Industry (RELY), and International Game Technology (IGT) for their potential.

Portfolio Pulse from Nelson Hem

March 03, 2024 | 9:37 pm

AAPL

Apple, Inc. (AAPL) abandoned its self-driving car project due to the ambitious goal of surpassing Tesla with a fully autonomous vehicle, a challenge even Apple found too difficult. Bloomberg's Mark Gurman highlighted the project's downfall was Apple's attempt to create a car that required zero driver intervention, a goal the auto industry still struggles with. The project's cessation came after significant investment into a Level 5 self-driving system and design work for a car without traditional controls. Gurman also noted the auto industry's thin profit margins and high production challenges as additional hurdles for Apple.

Portfolio Pulse from Shanthi Rexaline

March 03, 2024 | 9:36 pm

AAPL

GOOG

IBIT

RIVN

Cryptocurrencies experienced significant gains, with Bitcoin leading the surge. The total market capitalization of cryptocurrencies increased by over 17% to $2.33 trillion. Bitcoin's weekly gain was 19.5%, and Ethereum rose by 12.4%. Memecoins, particularly Dogwifhat, saw a 400% weekly surge. BlackRock's iShares Bitcoin ETF (IBIT) recorded high trading volumes, increasing its bitcoin holdings to over $7 billion. In traditional finance, the Nasdaq 100 gained 2.04%, while Apple Inc (AAPL) dropped after being removed from Goldman Sachs' Conviction List. Rivian Automotive Inc (RIVN) and Alphabet Inc. (GOOG) received optimistic outlooks from notable investors.

Portfolio Pulse from Ivan Crnogatić

March 03, 2024 | 5:33 pm