Streetbeat News

Acquisitions Mergers

EAC

Edify Acquisition is preparing for liquidation and will redeem public shares at approximately $10.61 following the termination of a deal with UNQL. This move comes after the previously planned acquisition deal with UNQL was called off.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 7:37 am

BTCUSD

The Arizona Senate is considering a proposal, Senate Concurrent Resolution 1016, that could allow the state's government employee retirement funds to invest in Bitcoin ETFs and other digital asset-based ETFs. Introduced by State Sen. Jake Hoffman, Warren Petersen, and Rep. Joseph Chaplik, the resolution acknowledges Bitcoin's market surge and its significant market capitalization. It aims to explore the potential benefits and risks of including digital assets in the investment portfolios of Arizona's state pensions, which already invest in precious metals ETFs.

Portfolio Pulse from Mehab Qureshi

March 07, 2024 | 7:13 am

PLTR

Palantir Technologies Inc. (NYSE:PLTR) shares surged over 9% after being named a prime contractor for the U.S. Army's Titan program, an AI-enabled vehicle project. CTO Shyam Sankar highlighted the role of AI in changing warfare, emphasizing the strategic importance of this development. The $178 million contract with the U.S. Army positions Palantir as a key player in military technology, reflecting growing investor confidence.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 6:26 am

COIN

ROKU

SOFI

TSLA

Cathie Wood's Ark Invest sold $48.8 million worth of Coinbase (COIN) shares and bought over $11 million in Tesla (TSLA) shares, alongside significant purchases in SOFI Technologies (SOFI), Sea Ltd (SE), and ROKU Inc (ROKU). This move reflects Ark's strategy to capitalize on disruptive technologies and companies with significant growth potential, despite the recent surge in Bitcoin and the cryptocurrency market.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 3:20 am

IBIT

Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced significant gains, attributed to massive inflows into U.S.-listed spot Bitcoin ETFs, particularly the BlackRock iShares Bitcoin ETF (IBIT), which saw a record $788 million in investments. The global cryptocurrency market cap increased by 0.49%. Federal Reserve Chair Jerome Powell hinted at a potential lowering of interest rates, influencing stock market gains. Analysts predict strong future performance for Ethereum and Bitcoin, highlighting the potential for Ethereum's all-time high post-EIP-1559 upgrade and a Spot ETH ETF approval.

Portfolio Pulse from Mehab Qureshi

March 07, 2024 | 2:50 am

APM

AVGO

INO

TSLA

VSCO

On Wednesday, U.S. indices saw positive movement with the Dow Jones, S&P 500, and Nasdaq all closing higher. Inovio Pharmaceuticals, Victoria's Secret, Broadcom, Aptorum Group, and Tesla were among the top stocks on investors' radars. Inovio outperformed earnings expectations, Victoria's Secret missed revenue forecasts but announced a share repurchase program, Broadcom is anticipated to report strong earnings, Aptorum Group announced a merger with YOOV Group, and Tesla faced challenges as per Morgan Stanley's analysis.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 2:18 am

MRMD

MariMed Inc (OTCQX:MRMD), a multi-state cannabis operator, reported a revenue increase to $38.9 million in Q4 2023, up from $35.8 million in the same period last year. However, the company experienced a net loss of $10.1 million in the quarter, compared to a net income of $4.7 million in the previous year, primarily due to a $10 million loss on the extinguishment of debt. For the full year, revenue was $148 million, up from $134 million in 2022, but net loss increased to $16 million from a net income of $13.6 million in 2022. CEO Jon Levine highlighted the company's sixth consecutive year of double-digit revenue growth and positive adjusted EBITDA for the fourth year. MariMed anticipates 5% to 7% revenue growth in 2024, not including potential new revenue from operations in Ohio, Missouri, Maryland, or acquisitions.

Portfolio Pulse from Maureen Meehan

March 07, 2024 | 2:09 am

BRK/A

BRK/B

LSXMK

Warren Buffett's Berkshire Hathaway has acquired 2,183,430 shares of Liberty Media at an average price of $29.26 per share, as reported in a Form 4 filing on Wednesday.

Portfolio Pulse from Charles Gross

March 07, 2024 | 12:58 am

NYAX

Nayax has signed a definitive agreement to acquire VMtecnologia, a Brazilian technology provider for the automated self-service industry, for a total potential consideration of approximately $27.8 million. The deal includes an upfront payment, semi-annual payments over three years, and an earnout based on three-year growth objectives, with completion expected in Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 10:27 pm

BENF

Beneficient (NASDAQ:BENF) has announced a new liquidity transaction with ff Venture Capital, involving the financing of liquidity transactions for three separate funds managed by ff Venture Capital. This deal, subject to shareholder approval, could increase Ben's loan portfolio collateral by up to $121.5 million. The transactions are expected to close in Q3 2024 and involve the issuance of Resettable Convertible Preferred Stock to limited partners participating in the deal. This move is part of Beneficient's broader strategy to provide liquidity solutions to the alternative asset market.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 10:02 pm