Streetbeat News

Acquisitions Mergers

AKLI

Akili Inc (NASDAQ:AKLI) shares surged over 100% after announcing its partner Shionogi submitted the digital therapeutic SDT-001 for marketing approval in Japan. SDT-001, a localized version of Akili's EndeavorRx, aims to improve attention in pediatric ADHD patients. The submission follows a successful Phase 3 trial demonstrating significant improvements in ADHD symptoms with no safety concerns.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 4:29 pm

ACI

KR

The U.S. Federal Trade Commission (FTC) is set to announce a lawsuit on Monday aimed at preventing the merger between Kroger and Albertsons. This legal action indicates significant regulatory hurdles for the merger, potentially affecting the future operations and stock performance of both companies.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 4:26 pm

HD

LOW

Home Depot (HD) reported its 11th consecutive quarterly decline with sales dropping to $34.79 billion, yet surpassing estimates. The company faces challenges from a post-pandemic slowdown, inflation, and high borrowing costs, leading to a guidance of a 1% decline in 2024 sales. Lowe's (LOW) is also expected to report a drop in Q4 revenue and a year-over-year decrease in its bottom line, affected by DIY segment softness, e-commerce challenges, lumber deflation, and competition. Both companies' outlooks may signal a weakening macroeconomic climate ahead.

Portfolio Pulse from Upwallstreet

February 26, 2024 | 4:01 pm

NEM

Newmont (NYSE:NEM) has seen a surge in options activity, with 58% of traders bullish and 42% bearish. Notable trades include both puts and calls, with a price target range from $25.0 to $55.0. Newmont, the world's largest gold miner, recently acquired Newcrest, boosting its production and reserves. Currently, NEM's stock is down by -2.14% at $30.61, with analysts from BMO Capital and RBC Capital giving price targets of $56 and $40, respectively.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 4:00 pm

MTRS

Metros Development Co., Ltd. (MTRS) is set to IPO on NASDAQ on February 27, with shares priced between $8.00 and $9.00. The company, specializing in identifying and reselling underdeveloped real estate properties, has a 180-day insider lock-up period ending on August 25, 2024.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 3:00 pm

NIO

NIO Inc (NYSE:NIO) shares are trading higher after announcing a technology license agreement with Forseven Limited, a subsidiary of CYVN Holdings. The agreement grants Forseven a worldwide license to use Nio's technical information, software, and intellectual property for smart electric vehicle platforms. Nio will receive upfront technology license fees and royalties on future sales. Nio is expected to report a Q4 loss of 51 cents per share. Despite a 24.14% fall in the past three months, Wall Street views Nio as a Buy.

Portfolio Pulse from Adam Eckert

February 26, 2024 | 2:51 pm

AMZN

EWW

Amazon Web Services (AWS) plans to invest over $5 billion in a new cluster of data centers in Queretaro, Mexico, over the next 15 years. This move is part of a growing demand for cloud services and comes amid the nearshoring trend. AWS aims to serve clients like Cinepolis, BIVA, Aeromexico, and local governments, potentially reducing their technology costs by around 20%. Amazon has already invested over $3.04 billion in Mexico since 2015.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:49 pm

BRK-A

BRK-B

CVX

OXY

Warren Buffett, through Berkshire Hathaway, holds a significant stake in Occidental Petroleum (OXY) and Chevron (CVX), endorsing U.S. oil production and shale projects. Despite regulatory changes and market volatility, Buffett remains committed to these investments, highlighting the strategic importance of domestic oil production and technological advancements in shale extraction.

Portfolio Pulse from Neil Dennis

February 26, 2024 | 2:44 pm

ARM

NVDA

Arm Holdings Plc (NASDAQ:ARM) shares are experiencing an uptrend, attributed to the overall strength in the semiconductor sector and positive momentum from Nvidia Corp's (NASDAQ:NVDA) financial results and optimistic guidance. Nvidia's CEO highlighted a demand surge in accelerated computing and generative AI, which also benefits Arm. Arm's recent quarterly results exceeded analyst expectations, with strong guidance and plans for expansion into new markets driven by AI demand. SoftBank, which acquired Arm in 2016 and took it public in the largest IPO of 2023, retains about 90% ownership. Arm's stock has risen over 75% since the beginning of the year.

Portfolio Pulse from Adam Eckert

February 26, 2024 | 2:36 pm

NGM

NGM Biopharmaceuticals, Inc. (NGM Bio) has announced a definitive merger agreement with affiliates of The Column Group, LP, where NGM Bio stockholders will receive $1.55 per share in cash, totaling an equity value of $135M. This represents an 80% premium over the last trading day closing price before the disclosure. The transaction, recommended by a Special Committee of independent directors, is expected to close in Q2 2024, making NGM Bio a privately held company.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:05 pm