Streetbeat News

Acquisitions Mergers

NYCB

New York Community Bancorp (NYCB) has successfully closed a $1 billion investment deal and introduced new leadership, including a former Treasury Secretary.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 6:47 am

ARKF

ARKK

ARKW

COIN

PINS

SOFI

SPOT

STNE

Cathie Wood's Ark Invest sold $68.7M worth of Coinbase (COIN) shares through its ETFs ARKK, ARKW, and ARKF, despite Bitcoin reaching new all-time highs. The firm also engaged in other key trades, including buying shares of Spotify (SPOT), SoFi Technologies (SOFI), and Pinterest (PINS), while selling shares of StoneCo (STNE).

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 3:25 am

COIN

MSTR

Bitcoin, Ethereum, and Dogecoin experienced significant gains, with Bitcoin surpassing silver in market cap. MicroStrategy increased its BTC holdings by 12,000 coins, now totaling 205,000 BTC. The global cryptocurrency market cap reached $2.5 trillion. Stocks related to Bitcoin, such as Coinbase and Microstrategy Inc, saw increases. Analysts predict continued growth for Bitcoin and Ethereum, with potential for Bitcoin to reach $170K.

Portfolio Pulse from Mehab Qureshi

March 12, 2024 | 3:21 am

PBM

Psyence Biomedical Ltd (NASDAQ:PBM) has received approval from the Australian Health Research Ethics Committee to begin a Phase IIb study in Melbourne, Australia, focusing on the use of psilocybin for palliative care patients with Adjustment Disorder following a cancer diagnosis. The study, in partnership with iNGENū Pty Ltd, will test different doses of psilocybin combined with psychotherapy. Additionally, Psyence Group has undergone a business restructuring, including a spinout deal resulting in a 37% interest in PBM and the transfer of non-clinical business assets to reduce overhead.

Portfolio Pulse from Lara Goldstein

March 11, 2024 | 11:02 pm

Alcoa has announced a binding agreement to acquire Alumina Limited in an all-stock transaction. Alumina shareholders will receive 0.02854 Alcoa shares for each share of Alumina they own.

Portfolio Pulse from Charles Gross

March 11, 2024 | 10:44 pm

IONM

Assure Holdings Corp. (NASDAQ:IONM) has agreed to sell certain assets of its intraoperative neuromonitoring (IONM) business to MPOWERHealth for up to $4.5 million. The deal includes $2.5 million in cash upfront and up to $2.0 million in potential earnout payments based on case volume over the next 12 months. The sale encompasses most of the company's healthcare facility contracts and clinical equipment, along with a majority of its employees, while retaining its accounts receivable and revenue cycle management team.

Portfolio Pulse from Charles Gross

March 11, 2024 | 10:29 pm

METC

UAMY

United States Antimony Corporation (UAMY) halts all operations in Latin America to improve cash flow, retaining only the Los Juarez mining claims. United States Steel Corporation (X) invests in Freespace Robotics to support innovation and the regional economy. Analysts provide updates on Ramaco Resources (METC) and Worthington Steel (WS), with a price target increase for METC and a Neutral rating for WS.

Portfolio Pulse from Austin DeNoce

March 11, 2024 | 9:44 pm

KLIC

Kulicke and Soffa Industries announced the cancellation of Project W by a strategic customer, leading to a plan to cease operations and wind down activities related to the project. The company anticipates pre-tax charges, including impairments, of $110M-$130M, with specific non-cash impairment charges for inventory write-downs and long-lived assets.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 9:30 pm

BYNO

Nordic Acquisition has announced an extension of the deadline to complete its business combination until April 12, 2024. This extension provides additional time for Nordic Acquisition to finalize its business combination plans.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 9:10 pm

XRPUSD

XRP experienced an 18% rally, becoming one of Monday's top-performing cryptocurrencies due to increased whale transactions and community developments. Ripple's acquisition of Standard Custody & Trust Company and a surge in trading volumes have contributed to the bullish momentum. Despite the rally, opinions among traders vary, with some predicting further gains and others cautioning about its long-term performance against Bitcoin.

Portfolio Pulse from Khyathi Dalal

March 11, 2024 | 9:04 pm