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Acquisitions Mergers

AMD

TSLA

The article covers a range of topics from cryptocurrency trends, with Dogecoin surging and Bitcoin and Ethereum cooling, to US politics, including Biden vs. Trump voter preferences. It also touches on US and world politics, the economy, tech developments, electric vehicles, consumer issues, communication, industrial contracts, healthcare, general news, space exploration, and energy sector updates. Notably, it mentions companies like AMD, Tesla, and Boeing, among others, in various contexts from stock performance to new contracts and product updates.

Portfolio Pulse from Akanksha Bakshi

March 01, 2024 | 2:46 pm

ACB

TLRY

Aurora Cannabis Inc. (NASDAQ:ACB) has repaid its final convertible senior notes payment of CA$7.2 million, marking a significant reduction in its debt. The company's CEO, Miguel Martin, highlighted this achievement as a milestone towards financial stability and positive free cash flow. Aurora Cannabis also reported record earnings and a 41% increase in international medical cannabis revenue, attributing success to strategic global positioning and quality focus. Additionally, Aurora's expansion into the UK market through a partnership with Script Assist and its strategic acquisition of MedReleaf Australia underscore its growth strategy. Analyst Pablo Zuanic views Aurora and Tilray Brands, Inc. (NASDAQ:TLRY) as beneficiaries of Germany's recent cannabis legalization, given their strong export ties.

Portfolio Pulse from Jelena Martinovic

March 01, 2024 | 2:46 pm

VSTO

MNC Capital has proposed to acquire Vista Outdoor Inc. (VSTO) for $35.00 per share in cash, offering a substantial premium over its current share price. This proposal is presented as superior to Vista's current plans to sell its Sporting Products division to CZECHOSLOVAK GROUP a.s. and to spin off its Outdoor Products division into a public company, Revelyst, Inc. MNC's offer aims to keep the Sporting Products business under U.S. ownership, emphasizing its national security importance and proposing a quicker, all-cash transaction without regulatory or CFIUS review concerns.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 2:44 pm

EQNR

Equinor ASA (NYSE:EQNR) is expanding its helicopter fleet for Norwegian continental shelf operations by procuring 15 new helicopters from Bell and Leonardo. This includes ten Bell 525 and five AW189 helicopters, supplementing the current Sikorsky S-92 models. The new helicopters, featuring technological improvements, aim to enhance flexibility, regularity, and safety for offshore personnel transport. The first deliveries are expected in the first quarter of 2025. This announcement follows the recent resumption of helicopter traffic in Norway after a crash. EQNR shares rose 2.03% to $25.12.

Portfolio Pulse from Shivani Kumaresan

March 01, 2024 | 2:37 pm

OAIB

China has approved the expansion of the Julong copper mine, making it the world's largest, as part of its strategy to secure more copper resources. Copper's importance is highlighted due to its use in electricity and battery technology, essential for the global energy transition. The US and China are competing globally, including in Zambia, to secure copper supplies. For investors, the article suggests ETFs as a way to invest in copper, highlighting the Teucrium AiLA Long-Short Base Metals Strategy ETF (OAIB) which invests in critical base metals and has shown a 12.65% annualized return from 2017-2023.

Portfolio Pulse from Johnny Rice

March 01, 2024 | 2:34 pm

FTEC

MSFT

SONY

TCEHY

XLK

Microsoft Corp (NASDAQ:MSFT) has sold the Toys for Bob video-game studio, aiming for future partnerships amid a gaming industry overhaul. Toys for Bob, known for Skylanders and Crash Bandicoot N. Sane Trilogy, will operate as an independent studio. The financial details of the divestiture are undisclosed. This move comes in the context of Microsoft's $69 billion acquisition of Activision and an industry-wide trend of consolidation, including job cuts and game cancellations. Electronic Arts Inc (NASDAQ:EA), Sony Group Corp (NYSE:SONY), and Tencent Holding Ltd's (OTC:TCEHY) Riot Games have also announced significant layoffs. The SPDR Select Sector Fund – Technology (NYSE:XLK) and Fidelity MSCI Information Technology Index ETF (NYSE:FTEC) offer exposure to Microsoft, which has seen its shares trading lower by 0.44% at $411.80 premarket.

Portfolio Pulse from Anusuya Lahiri

March 01, 2024 | 2:24 pm

AMC

BNGE

DIS

NFLX

WBD

Netflix Inc (NFLX) shares have surged 24% in 2024, outperforming rivals and traditional cinemas. Despite a price hike, it remains a cost-effective option for consumers. Competitors like Warner Bros Discovery Inc (WBD) and Walt Disney Company (DIS) have seen mixed results, with WBD's shares falling and DIS's rising due to Disney+ growth. The shift to streaming, exemplified by Amazon Prime and Apple TV+, has hurt cinema attendance, with AMC Entertainment Holdings Inc. (AMC) shares plummeting. The cinema industry struggles with recovering from the pandemic and a lack of blockbuster hits, despite some potential in upcoming releases like "Dune: Part Two."

Portfolio Pulse from Neil Dennis

March 01, 2024 | 2:23 pm

EVBG

Everbridge, Inc. (NASDAQ:EVBG) shares surged premarket after Thoma Bravo increased its acquisition offer to $35.00 per share, valuing Everbridge at approximately $1.8 billion. This revised offer represents a 62% premium over its 90-day volume-weighted average share price as of February 2, 2024. The transaction is expected to close in Q2 2024, making Everbridge a privately held company. This follows Everbridge's Q4 2023 earnings, where it reported an adjusted EPS of $0.47 and sales of $115.76 million.

Portfolio Pulse from Lekha Gupta

March 01, 2024 | 2:18 pm

SOLO

XOS

Jerry Kroll, founder of ElectraMeccanica Vehicles, has agreed to vote in favor of the proposed combination with Xos, indicating a significant step towards the merger of the two companies.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 2:17 pm

VSTO

Vista Outdoor, a sporting goods and ammunition manufacturer, received a $2.9 billion takeover offer from MNC Capital Partners, including a bid of $35 per share in cash. The offer, made in February, is currently under review by Vista Outdoor.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 2:14 pm