Streetbeat News

Acquisitions Mergers

JRVR

James River Group Holdings, Ltd. (NASDAQ:JRVR) has initiated litigation against Fleming Intermediate Holdings to enforce the completion of the acquisition of JRG Reinsurance Company Ltd. as per the Stock Purchase Agreement dated November 8, 2023. Fleming, backed by Altamont Capital Partners, has refused to close the transaction, demanding material changes to the terms. James River seeks expedited relief to compel Fleming to fulfill its obligations under the agreement.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:08 pm

X

U.S. Steel has made a strategic investment in Freespace Robotics, a company incubated in Carnegie Foundry, which is a partner of Carnegie Mellon University in Pittsburgh. The size of the investment was not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:06 pm

MOBX

Mobix Labs, Inc. (NASDAQ:MOBX), a fabless semiconductor company, announced a mid-quarter business update projecting over 250% revenue growth from the previous quarter. This growth is attributed to an expanding customer base and the successful acquisition of EMI Solutions, which has significantly contributed to the revenue increase. The company expects to surpass $1 million in revenue this quarter. Demand for Mobix Labs' products, including filtered connectors and flex assemblies, remains strong, driven by key programs like the Tomahawk and Javelin Missile Systems, and the Abrams Tank Army contract.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:05 pm

GREE

Greenidge Generation Holdings Inc. (NASDAQ:GREE) announced the expansion of its U.S. footprint with 40 MW of low-cost power through acquisitions in Mississippi and a lease in North Dakota, aiming to increase profitability and create jobs. The company reported mining approximately 150 and 128 bitcoins in January and February respectively, with an expected increase in hash rate to 2.8 EH/s by April 1 due to deploying over 2,100 miners.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:04 pm

GTLS

Analysts have mixed views on Chart Industries (NYSE:GTLS), with recent ratings ranging from bullish to bearish. The average 12-month price target has been raised to $162.25, reflecting a 10.0% increase from the previous target. The company, known for its cryogenic equipment and recent acquisition of Howden, shows strong revenue growth but faces challenges in profitability, debt management, and efficiency metrics.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 1:00 pm

SCX

The L.S. Starrett Company (SCX) shares surged following the announcement of a merger agreement with MiddleGround Capital, leading to SCX becoming a private entity.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:56 pm

ARM

NNOX

NVDA

RXRX

SOUN

TSPH

Nvidia Corp. (NVDA) has significantly expanded its venture capital investments in AI startups, growing its investment from $300 million to $1.55 billion. This strategy aims to secure a foothold in emerging AI trends and support the ecosystem for its technology. Nvidia has also acquired stakes in several listed companies, including Arm Holdings (ARM), Nano-X Imaging (NNOX), Recursion Pharmaceuticals (RXRX), SoundHound AI (SOUN), and TuSimple Holdings (TSPH). CEO Jensen Huang's long-term vision emphasizes investing in AI's future to maintain Nvidia's industry leadership.

Portfolio Pulse from Shanthi Rexaline

March 11, 2024 | 12:42 pm

APRE

DUO

MESO

Fangdd Network (DUO) shares surged 151% following the announcement of its 2024 strategic plan to enter the real estate stock asset services sector. Mesoblast Limited (MESO) saw a 52% increase in its shares after the FDA supported an accelerated approval pathway for Rexlemestrocel-L for end-stage heart failure patients with LVAD. Aprea Therapeutics (APRE) shares jumped 91% after announcing FDA clearance for APR-1051 and a private placement financing deal worth up to $34 million.

Portfolio Pulse from ryanfaloona@benzinga.com

March 11, 2024 | 12:40 pm

NN

NextNav is set to acquire additional spectrum licenses in the lower 900 MHz band, covering an extra 4 MHz, for a total purchase price of up to $50 million. This strategic acquisition aims to expand NextNav's capabilities and reach in the telecommunications sector.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:40 pm

GMM

Global Mofy Metaverse (NASDAQ:GMM) announced the creation of Gauss AI, a subsidiary focused on monetizing AI-generated content and synthetic video creation. Leveraging its digital asset library and innovation track record, the company aims to serve the expanding digital entertainment market. Gauss AI will develop AI content creation systems and synthetic video, aiming to enhance efficiency and innovation in content production at reduced costs. CEO Haogang Yang highlighted the transformative impact of AI on digital entertainment and content creation, emphasizing the company's competitive position and potential for growth.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:39 pm