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AMZN

GOOGL

The UK Competition and Markets Authority (CMA) is investigating Alphabet Inc's $2 billion investment in AI startup Anthropic, raising concerns about potential harm to competition. This follows the CMA's approval of a similar partnership between Amazon and Anthropic. A decision on further investigation is expected by December 19.

Portfolio Pulse from Anusuya Lahiri

October 24, 2024 | 6:57 pm

SUM

Summit Materials shares are experiencing an increase in trading value following an announcement by Quikrete regarding a potential takeover of the company.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 6:53 pm

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DOW

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MRNS

NXU

U.S. stocks showed mixed performance with the Nasdaq gaining over 100 points. Dow Inc reported better-than-expected Q3 results, boosting its stock. Nxu, Inc. shares surged on a proposed merger, while QuantumScape rose on production news. Molina Healthcare also saw gains after strong earnings. Conversely, Beyond, Inc. and Marinus Pharmaceuticals faced significant declines due to disappointing earnings and trial results, respectively.

Portfolio Pulse from Avi Kapoor

October 24, 2024 | 6:53 pm

SUM

Quikrete has reportedly made a takeover approach for Summit Materials, indicating potential acquisition activity in the construction materials sector.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 6:51 pm

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DAL

JBLU

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LUV

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UAL

ULCC

The Justice Department and Department of Transportation have launched a public inquiry into competition in the air travel industry, focusing on consolidation, anticompetitive conduct, and other issues affecting air travel availability and affordability.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 6:10 pm

FYBR

Verizon Communications Inc (NYSE:VZ) has been downgraded by Keybanc Capital Markets analyst Brandon Nispel from Overweight to Sector Weight due to slower growth and declining cash flow projections for 2025. The potential acquisition of Frontier Communications Parent, Inc (NASDAQ:FYBR) is seen as a poor capital allocation decision, impacting Verizon's ability to repurchase shares.

Portfolio Pulse from Anusuya Lahiri

October 24, 2024 | 5:34 pm

AZN

MNPR

Monopar Therapeutics' stock surged after securing a licensing agreement with AstraZeneca's Alexion for ALXN-1840, a treatment for Wilson's disease. Monopar will handle future development and commercialization, with payments to Alexion based on sales milestones.

Portfolio Pulse from Vandana Singh

October 24, 2024 | 5:18 pm

KHC

JBS and Sigma are competing to acquire Kraft Heinz's Oscar Mayer hot dog business, valued at $3 billion. Kraft Heinz aims to focus on healthier products due to changing consumer trends. The deal could be finalized in the coming weeks.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 4:53 pm

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HON

MOH

MRNS

NXU

U.S. stocks showed mixed performance with the Nasdaq Composite gaining 0.3%. Honeywell's shares fell 4% after missing revenue expectations and lowering FY24 sales guidance. Nxu, Inc. shares surged 216% on a proposed merger, while QuantumScape rose 25% after announcing production of B-sample cells. Molina Healthcare shares increased 22% following strong Q3 results. Beyond, Inc. and Marinus Pharmaceuticals saw significant declines due to disappointing earnings and trial results, respectively.

Portfolio Pulse from Avi Kapoor

October 24, 2024 | 4:22 pm

GOOG

GOOGL

Google's $2 billion investment in AI firm Anthropic is under scrutiny by the UK's Competition and Markets Authority (CMA), which has launched a formal phase one merger probe. This investigation is part of broader regulatory efforts to prevent market distortion by big tech investments in AI. The CMA's decision on whether to escalate the probe is expected by December 19.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 4:04 pm