Streetbeat News

Acquisitions Mergers

INPX

Inpixon shares are trading higher following the announcement that the company expects to close its merger with XTI Aircraft Company after market close on March 12.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:25 pm

LGF-A

SCRM

Lions Gate Entertainment Corp has announced plans to merge with Screaming Eagle Acquisition Corp to form Lionsgate Studios Corp, with an enterprise value of $4.6 billion. The merger and acquisitions, including eOne, are expected to enhance the studio business. Analyst James Goss of Barrington Research upgraded Lions Gate's rating to Outperform with a $12 price target. The public launch of the merged entity, under the ticker LION, is anticipated in early April. The acquisitions aim to expand the television studio's presence in unscripted programming and improve profitability.

Portfolio Pulse from Priya Nigam

March 11, 2024 | 4:21 pm

DUO

ELTK

EQT

ETRN

GDS

GNE

LXRX

VTYX

U.S. stocks traded lower with the Dow Jones, NASDAQ, and S&P 500 all seeing declines. Materials shares rose, while industrials fell. EQT Corporation announced a merger with Equitrans Midstream Corporation. GDS Holdings, Fangdd Network Group, and Lexicon Pharmaceuticals saw significant stock increases, while Eltek, Genie Energy, and Ventyx Biosciences experienced declines. Oil and gold prices edged higher.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 4:15 pm

MSTR

MicroStrategy Inc (NASDAQ:MSTR) has invested over $800 million in Bitcoin, bringing its total holdings to approximately 205,000 BTC. The company's bullish stance is driven by the recent approval of spot Bitcoin ETFs, the upcoming halving event, and the belief that Bitcoin is a superior investment. Michael Saylor, Executive Chair, argues that MicroStrategy offers a better investment vehicle than ETFs due to its intelligent leverage strategy.

Portfolio Pulse from Adam Eckert

March 11, 2024 | 4:07 pm

MRK

MRNA

Moderna and Merck are initiating a trial for a skin cancer treatment using a vaccine combination, signaling confidence in their broad program. This is their third late-stage study, targeting cutaneous squamous cell carcinoma (CSCC), the second-most common form of skin cancer in the U.S. The combination includes Merck's Keytruda and Moderna's mRNA-based vaccine, also under evaluation for melanoma and non-small cell lung cancer. Despite this development, Moderna's stock has declined 18.3% over the past year.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:59 pm

HWKN

Hawkins Inc (NASDAQ:HWKN) has acquired Industrial Research Corporation, a distributor of water treatment chemicals and equipment in Louisiana, Texas, and Arkansas. The acquisition aims to fill a geographical gap and accelerate growth in the water treatment business. Financial details were not disclosed. As of December 31, 2023, Hawkins had $5.7 million in cash and equivalents. HWKN shares rose 3.07% to $71.57.

Portfolio Pulse from Shivani Kumaresan

March 11, 2024 | 3:58 pm

BAC

BTI

British American Tobacco Plc (BAT), known for Lucky Strike cigarettes, is reportedly planning to sell a portion of its stake in Indian partner ITC Ltd. The sale, which could happen as early as this week, involves a divestment of $2 billion to $3 billion in ITC stock. BAT has been in discussions with Bank of America Corp. and Citigroup Inc. regarding the sale through block trades.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:55 pm

INPX

XTIA

Inpixon announced the anticipated closing date for its merger with XTI Aircraft Company as March 12, 2024, after market close. Post-merger, the company will be named XTI Aerospace, Inc. and will trade on Nasdaq under the new ticker symbol 'XTIA' starting March 13, 2024. The merger aims to advance the development of the TriFan 600 vertical lift crossover airplane and continue offering RTLS technology. A 100-for-1 stock consolidation will occur immediately before the merger to meet Nasdaq listing requirements. Inpixon's CEO's entity will invest $1.5 million in equity financing in the company. The TriFan 600 aims to serve various segments of private air travel, with over 700 conditional pre-orders indicating a potential for over $7 billion in gross revenue.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:54 pm

CHH

Choice Hotels' shares rose following the announcement of the expiration of their exchange offer to acquire Wyndham Hotels & Resorts. The company plans to continue with its standalone strategy.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:45 pm

NextNav's stock price increased following the announcement of its agreement to acquire additional spectrum licenses covering 4 MHz in the lower 900 MHz band.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:10 pm