Streetbeat News

Acquisitions Mergers

DIS

The grandchildren of Walt Disney Co founders, Walt Disney and Roy Disney, have publicly supported CEO Bob Iger and the company's board in an open letter, criticizing activist investors, including billionaire Nelson Peltz, who have been challenging the company's management and strategies. This support comes amid a proxy war with Peltz, who advocates for cost-cutting, a more profitable streaming business, and better succession planning.

Portfolio Pulse from Benzinga Neuro

March 01, 2024 | 8:01 am

TNC

Tennant Company (NYSE:TNC) has acquired M&F Management and Financing GmbH, the parent company of TCS EMEA GmbH, its largest distributor in Central and Eastern Europe, to boost growth in the EMEA region. This acquisition expands Tennant's direct sales network into several countries, including Romania, Hungary, Czech Republic, Slovakia, Austria, Switzerland, Poland, and extends to the Middle East and Africa.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 7:29 am

AAPL

AMSSY

Rumors suggest the Apple Inc. (AAPL) Watch Ultra with a microLED display might be canceled, impacting supplier ams-Osram (AMSSY) with a 40% stock drop and potential non-cash impairment charges. However, tech journalist Mark Gurman doubts the cancellation, noting multiple suppliers for the project.

Portfolio Pulse from Ananya Gairola

March 01, 2024 | 6:45 am

DOGE-USD

A property in Portugal has been listed for sale in Dogecoin (CRYPTO: DOGE), marking a significant move towards integrating digital currency with real estate. This initiative, led by Dogecoin developer Paulo Vidal and facilitated by Remax Portugal, demonstrates the growing acceptance of cryptocurrencies. The transaction process is integrated into Remax's system, allowing payments in Dogecoin without altering the agency's existing infrastructure. This development not only showcases Dogecoin's potential beyond an internet currency but also sets a precedent for cryptocurrency in real estate transactions.

Portfolio Pulse from Murtuza Merchant

March 01, 2024 | 12:45 am

PFE

Pfizer Oncology has announced the formation of a new Oncology organization and outlined its strategic priorities following the acquisition of Seagen in late 2023. The company highlighted its robust portfolio and R&D capabilities, projecting 8+ potential blockbuster medicines by 2030.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 11:02 pm

AMSYF

AUMN

BHP

RGLD

Jefferies initiated coverage on Royal Gold with a Hold rating and a $117 price target. Golden Minerals halted operations at Velardeña due to underperformance, exploring sale or wind-up options. BHP Group is restructuring its global operations, starting in Australia, to cut costs and improve productivity amid a nickel market slowdown. Reliance's board member James Donald Hoffman sold 40,000 shares. ArcelorMittal reported a decrease in annual revenue and production compared to the previous year.

Portfolio Pulse from Austin DeNoce

February 29, 2024 | 10:53 pm

AMSYF

AUMN

BHP

RGLD

Jefferies initiated coverage on Royal Gold with a Hold rating and a $117 price target. Golden Minerals halted operations at Velardeña due to underperformance, exploring sale or wind-up options. BHP Group is restructuring global operations, starting in Australia, to cut costs and improve productivity amid nickel market slowdown. Reliance's board member James Donald Hoffman sold 40,000 shares. ArcelorMittal reported a decrease in annual revenue and production but remains a leading steel producer.

Portfolio Pulse from Austin DeNoce

February 29, 2024 | 10:52 pm

BAC

BLK

HOOD

SCHW

UBS

WFC

Merrill (Bank of America Corp.) and Wells Fargo & Co. have started offering Bitcoin ETFs to their wealth management clients, following SEC's approval of Bitcoin ETFs. This move is part of a broader trend with firms like Charles Schwab Corp., Robinhood Markets Inc., UBS Group AG, and potentially Morgan Stanley exploring similar offerings. BlackRock Inc. and Fidelity Investments have seen significant inflows into their Bitcoin ETFs, indicating strong demand. However, Vanguard Group Inc. remains skeptical about cryptocurrency investments.

Portfolio Pulse from Murtuza Merchant

February 29, 2024 | 10:18 pm

NYCB

New York Community Bancorp Inc (NYSE:NYCB) shares plummeted in after-hours trading following the company's announcement of material weaknesses in internal controls and a leadership transition. The weaknesses, related to internal loan review, are due to ineffective oversight and monitoring. The company expects to report ineffective disclosure controls in its 2023 Form 10-K. Additionally, Alessandro DiNello has been appointed as president and CEO, replacing Thomas Cangemi, who remains on the board. This news follows a recent downgrade by Moody's and a significant share price drop.

Portfolio Pulse from Adam Eckert

February 29, 2024 | 10:06 pm

ARIZ

FUFU

Arisz Acquisition Corp. (NASDAQ:ARIZ) has completed its business combination with BitFuFu, a leading company in the digital asset mining industry. The combined entity, BitFuFu Inc., will trade on Nasdaq under the ticker symbols 'FUFU' for Class A ordinary shares and 'FUFUW' for warrants, starting March 1, 2024. This merger, approved by shareholders of both companies, marks BitFuFu's entry into the public market, aiming to expand its global footprint and offerings in cloud-mining, self-mining, and miner hosting. The merger is supported by a $74M PIPE investment to accelerate BitFuFu's growth.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:06 pm