Streetbeat News

Acquisitions Mergers

CRWD

CrowdStrike Holdings Inc (NASDAQ:CRWD) shares surged following impressive Q4 financial results, beating revenue and EPS estimates. The company also provided a strong outlook for Q1 and FY 2025, exceeding analyst expectations. Additionally, CrowdStrike announced the acquisition of Flow Security, aiming to enhance its cloud security offerings. Analysts from Jefferies, Wells Fargo, Keybanc, Barclays, HSBC, and Mizuho have raised their price targets for CRWD.

Portfolio Pulse from Adam Eckert

March 06, 2024 | 1:29 pm

SPY

UNG

Saudi Aramco and UAE's ADNOC are reportedly in discussions to invest in US LNG projects, signaling a significant interest in the expanding US liquefied natural gas sector. This move could enhance the global LNG supply chain and strengthen ties between these oil-rich nations and the US energy market.

Portfolio Pulse from Charles Gross

March 06, 2024 | 1:21 pm

FCOM

META

NVDA

XLC

Meta Platforms Inc (NASDAQ:META) is ending its authorized sales partner program to directly engage with advertisers, aiming for operational standardization. Entravision Communications, a key partner, is reassessing its strategy due to the program's significant revenue contribution. Meta's AI investments, including Nvidia Corp's (NASDAQ:NVDA) H100 GPUs, have been well-received, contrasting its earlier metaverse strategy. Investors can access Meta through ETFs like The Communication Services Select Sector SPDR Fund (NYSE:XLC) and Fidelity MSCI Communication Services Index ETF (NYSE:FCOM).

Portfolio Pulse from Anusuya Lahiri

March 06, 2024 | 1:20 pm

APO

SBUX

AlShaya Group, a Starbucks Corp (SBUX) franchisee in the Middle East, plans to lay off over 2,000 employees, 4% of its workforce, due to business setbacks from Gaza war-related boycotts. The layoffs mainly affect Starbucks outlets. Apollo Global Management Inc (APO) is interested in acquiring a stake in AlShaya's Starbucks business. SBUX shares rose 0.47% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 06, 2024 | 1:18 pm

WULF

TeraWulf Inc. (NASDAQ:WULF) announced preliminary FY23 financial results with revenue of $69M, up from $15M in FY22, and a gross profit of $41M, up from $4M in FY22. The company also reported significant debt reduction and cash increase. For FY24, TeraWulf projects strong growth, aiming for industry-leading bitcoin mining unit economics, and plans to expand its infrastructure capacity significantly. The company's strategy focuses on organic growth, debt reduction, and leveraging its zero-carbon energy-powered facilities.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 1:09 pm

GILD

MRUS

Gilead Sciences, Inc. and Merus N.V. have entered into a collaboration to discover novel antibody-based trispecific T-cell engagers. Merus will receive an upfront cash payment of $56 million for initial targets and an equity investment by Gilead of $25 million in Merus common shares. Additionally, Merus is eligible to receive up to $1.5 billion.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 1:05 pm

TTE

TotalEnergies (NYSE:TTE) and QatarEnergy have agreed to acquire interests in Block 3B/4B offshore South Africa from Africa Oil South Africa. TotalEnergies will hold a 33% stake and become the operator, while QatarEnergy will have a 24% interest. The deal is pending final approvals. This move is part of TotalEnergies' strategy to expand its exploration efforts in the Orange Basin, following the Venus discovery in Namibia. Additionally, TotalEnergies has partnered with Bapco Energies to enhance the Sitra refinery's petroleum trading capabilities. TTE shares rose 1.05% in premarket trading.

Portfolio Pulse from Lekha Gupta

March 06, 2024 | 1:03 pm

OTIS

Otis Worldwide Corporation (NYSE: OTIS) has been awarded a project by Emaar Properties to modernize 34 elevators and all eight escalators in the Burj Khalifa, the world's tallest building. The contract also includes a 10-year service extension for maintaining these units. Otis, having installed the original elevators and escalators in 2010, will leverage its global experience from projects like the Empire State Building to ensure minimal disruption and enhanced efficiency. The modernization will feature an upgraded Elevator Management System for improved operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 1:03 pm

APM

Aptorum Group Ltd has announced a merger agreement with YOOV Group Holding Ltd, alongside a split-off agreement to separate its legacy business. Post-merger, existing Aptorum and YOOV shareholders will own approximately 10% and 90% of the merged entity, respectively.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 1:01 pm

PHGE

BiomX has entered into a merger agreement with Adaptive Phage Therapeutics (APT) in a stock-for-stock transaction, accompanied by a $50 million private placement financing. Post-merger, BiomX's former stockholders will own about 55% of the new entity, while APT's former stockholders will own approximately 45%.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 12:32 pm