Streetbeat News

Acquisitions Mergers

BAYRY

BAYZF

BOLD

Boundless Bio, a biotechnology company, has filed for an Initial Public Offering (IPO) and plans to list its common stock on the Nasdaq under the symbol 'BOLD'. Bayer AG (BAYRY) and its subsidiary Bayerische Motoren Werke AG (BAYZF) are mentioned in relation to their potential interest or involvement in Boundless Bio's market sector.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:59 pm

CBZ

CBIZ, Inc. (NYSE:CBZ), a leading provider of financial, insurance, and advisory services, has announced the acquisition of CompuData, Inc., a technology solutions provider based in Philadelphia, PA, effective March 1, 2024. CompuData specializes in cloud computing, accounting ERP software, managed IT, and security services, boasting a Sage Diamond Partner and Microsoft Partner designation. The acquisition is aimed at enhancing CBIZ's service offerings in response to growing demand for technology solutions. Financial terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:26 pm

FLT

FLEETCOR Technologies, Inc. (NYSE:FLT) has completed a majority investment in Zapay, a Brazilian vehicle payments company. This investment is part of FLEETCOR's strategy to expand its Vehicle Payments business in Brazil and provides access to Zapay's two million monthly users. Zapay, known for its digital mobility solutions for paying vehicle taxes, registration, and tickets, is integrated with the National Traffic Departments across all 27 Brazilian states. The company has seen a revenue growth of over 60% annually. FLEETCOR has the option to acquire the remaining shares of Zapay in four years. The partnership aims to leverage cross-selling opportunities between FLEETCOR's and Zapay's customer bases.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:15 pm

SONY

Arrowhead, the developer behind Helldivers 2, has publicly denied rumors of being acquired by Sony Group Corp. (NYSE:SONY), emphasizing its status as an independent studio. Despite the game's success on PlayStation 5 and PC, and Sony Interactive Entertainment publishing it, Arrowhead's CEO Johan Pilestedt clarified the studio's independence in response to acquisition speculations. The article also mentions Sony's recent layoffs affecting about 900 employees across various PlayStation studios. Helldivers 2 has sold around three million copies, continuing to receive positive reviews and updates.

Portfolio Pulse from Franca Quarneti

March 06, 2024 | 9:07 pm

CRWD

NYCB

Stock indexes rose ahead of the market close, with cybersecurity stocks seeing gains after CrowdStrike's (CRWD) earnings report. New York Community Bancorp (NYCB) also saw an increase after announcing a $1 billion investment.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 8:54 pm

PLTR

Palantir Technologies, Inc. (NYSE:PLTR) announced a $178 million contract with the U.S. Army, making it a trending topic on Reddit's WallStreetBets. Retail investors are optimistic, noting the contract's potential for leading to a larger production deal. Palantir's stock has surged over 50% in 2024, with a significant increase following the contract announcement. The company's market cap has reached $52.685 billion, reflecting its strong position in the AI sector.

Portfolio Pulse from Erica Kollmann

March 06, 2024 | 8:42 pm

F

GM

HYMTF

STLA

VWAGY

Ford Motor (NYSE:F) reported a 10.5% increase in U.S. sales for February, driven by a surge in EV and hybrid vehicle sales. General Motors (NYSE:GM) announced a pilot program for developing hydrogen fuel trucks and an H2 microgrid. Stellantis N.V. (NYSE:STLA) revealed a record investment plan in South America, aiming for carbon net zero by 2038 and market dominance. Volkswagen (OTC:VWAGY) and Hyundai Motor Company (OTC:HYMTF) also made significant investments in the region.

Portfolio Pulse from Upwallstreet

March 06, 2024 | 8:26 pm

NYCB

A Citadel spokesman clarified that Citadel Securities is not involved in the investment group participating in the NYCB deal. Instead, Citadel Global Equities is the entity making the investment.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 8:02 pm

NYCB

Joseph Otting is set to become the CEO, and Alessandro DiNello will be named as Non-Executive Chairman of a well-capitalized national bank with over $100 billion in assets. The bank, which is undergoing a reconstitution of its board and management team, aims to deliver a diversified and de-risked business model.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:14 pm

NYCB

New York Community Bancorp, Inc. (NYCB) announced a significant equity investment exceeding $1 billion from a consortium led by Liberty Strategic Capital, Hudson Bay Capital, and Reverence Capital Partners. The investment is anchored by notable figures such as former U.S. Treasury Secretary Steven Mnuchin. This capital infusion is aimed at bolstering NYCB's balance sheet and liquidity, with the bank planning to add four new directors to its Board, including Mnuchin and former Comptroller of the Currency Joseph Otting, who will also serve as the new CEO. The move is seen as a positive endorsement of NYCB's turnaround strategy and is expected to position the bank for long-term profitability and growth.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:13 pm