Streetbeat News

Acquisitions Mergers

BTCUSD

ETHUSD

SPY

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin show mixed trading signals, with Ethereum completing the 'Dencun' upgrade. Dogecoin's value may rise as Tesla considers accepting it for payments. Hacken's market cap reaches $57M after unveiling a tokenized share offering. Bitcoin critic Peter Schiff expresses regret over not investing in Bitcoin earlier. Crypto miners see record profits amid a Bitcoin rally. US markets see mixed movements with Hello Group and others moving lower. Political and global events include potential lawsuits, defense decisions, and tech partnerships. Electric vehicle market updates include Tesla's plans and competition from Polestar. Consumer, communication, healthcare, general news, space, and energy sectors also see significant updates.

Portfolio Pulse from Akanksha Bakshi

March 14, 2024 | 1:13 pm

ORCL

Steven Mnuchin, former U.S. Treasury Secretary, is leading an effort to acquire TikTok amid legislative actions that could force its sale or ban in the U.S. The House has passed a bill targeting TikTok, owned by ByteDance, for its Chinese ties, with the bill now moving to the Senate. Mnuchin's interest in purchasing TikTok emphasizes the need for American control over the platform, which has around 150 million U.S. users. His previous dealings include an investment in New York Community Bancorp and a data partnership with Oracle during the Trump administration's scrutiny of TikTok.

Portfolio Pulse from Benzinga Neuro

March 14, 2024 | 12:56 pm

HEAR

Turtle Beach Corporation (NASDAQ:HEAR) shares surged premarket after announcing the acquisition of Performance Designed Products (PDP) for $118 million and plans for a reverse Dutch tender auction. The acquisition, involving 3.45 million shares and $79.9 million in cash, is expected to boost combined revenues to $390-$410 million in the first 12 months post-acquisition. Turtle Beach also reported Q4 FY23 results with net revenue of $99.5 million, a slight decline from the previous year, and an adjusted EBITDA of $14.0 million. The company anticipates net revenues of $370-$380 million for 2024, driven by the PDP acquisition. Additionally, Turtle Beach plans to launch a Dutch Auction to purchase up to $30 million of its common shares, with the offer price ranging between $13.75 and $15.00 per share.

Portfolio Pulse from Lekha Gupta

March 14, 2024 | 12:43 pm

FMST

Foremost Lithium CEO Jason Barnard stated that the current slump in lithium prices is temporary and raising capital is challenging due to high interest rates affecting EV growth expectations. Despite this, long-term demand for lithium remains strong, supported by government initiatives in North America to strengthen domestic supply chains for EV minerals. Foremost Lithium (NASDAQ:FMST) is seeking CAD 10 million from Canada's Critical Mineral Infrastructure Fund for a project in Manitoba and has commenced drilling at its Jean Lake property.

Portfolio Pulse from Matt Whittaker

March 14, 2024 | 12:43 pm

AUUD

HEAR

PGY

Auddia announced a beta program for subscription podcasting with a pay-per-play model on the Faidr app, boosting AUUD shares by 42%. Turtle Beach's acquisition of PDP and Q4 financial results led to a 31% increase in HEAR shares. Pagaya Technologies' announcement of a public offering at $12.70 per share resulted in a 15% decrease in PGY shares.

Portfolio Pulse from ryanfaloona@benzinga.com

March 14, 2024 | 12:42 pm

ATMU

CMI

Atmus is offering an exchange of 12.0298 shares of its common stock for each share of Cummins common stock accepted in the exchange offer. This strategic move could significantly impact the stock values of both companies in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 12:41 pm

KULR

KULR Technology Group, Inc. (NYSE:KULR) has secured a contract over $865,000 with Nanoracks, part of Voyager Space, for the development of an advanced space battery. This contract highlights KULR's role in enhancing Voyager's CubeSat applications with its lithium-ion battery safety and thermal management technologies. The initial contract ends in April, with production to follow. KULR has already delivered the first prototype battery, marking a significant step in this partnership aimed at powering next-generation satellite applications.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 12:35 pm

SF

Stifel Financial Corp. announced its plans to acquire Finance 500 and CB Resource. The financial terms of the deals were not disclosed. This strategic move is aimed at expanding Stifel's offerings and market presence.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 12:33 pm

M

On March 13, 2024, Arkhouse and Brigade engaged in due diligence activities with Macy's, involving the exchange of a due diligence request list and a revised draft confidentiality agreement through financial advisors, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 12:27 pm

SAIC

Science Applications International Corp. (SAIC) has secured $284 million in contracts from the U.S. intelligence community in early 2024, with $160 million to be recognized in Fiscal Year 2025. The awards include two contracts over $100 million and a task order under a single-award contract, covering data, AI, and engineering. This follows the formation of a new business group combining intelligence and space work, enhancing collaboration and expanding SAIC's mission capabilities.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 12:20 pm