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Ingersoll Rand has agreed to acquire ILC Dover from New Mountain Capital, LLC, for approximately $2.325 billion. The acquisition is expected to be immediately accretive to Ingersoll Rand's Precision and Science Technologies segment, with an upfront purchase multiple of about 17x 2024E Adjusted EBITDA. ILC Dover brings new technologies for life science applications, expands Ingersoll Rand's addressable market by over $10 billion, and increases access to life science solutions in various end markets.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:08 am

BITF

Bitfarms has reaffirmed its year-end 2024 guidance, aiming to achieve a hash rate of 21 EH/s and an energy efficiency of 21 w/TH. This announcement underscores the company's commitment to enhancing its mining capabilities and operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:05 am

CMP

The U.S. Forest Service has decided not to contract Compass Minerals (NYSE:CMP) for magnesium chloride-based aerial fire retardants for the 2024 fire season due to safety concerns. This decision came after inspections revealed significant corrosion in airtankers using the product. The USFS awaits further assessment from the NTSB and NIST before considering future contracts.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:02 am

REGN

Regeneron announced that the FDA issued Complete Response Letters for the Biologics License Application for Odronextamab in treating relapsed/refractory follicular lymphoma and diffuse large B-cell lymphoma, indicating a setback in its approval process.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:02 am

TSLA

Tesla Inc (NASDAQ:TSLA) bear Gordon Johnson speculates that Tesla's announced price hikes in the U.S., Europe, and China might indicate a planned reduction in production volumes, similar to recent cuts in China. This speculation arises amidst reports of Tesla increasing prices for its Model Y vehicles in these regions and reducing production at its Shanghai gigafactory. Tesla bull Ross Gerber views the production cut as a response to the Chinese recession, affecting several companies, including Tesla. Tesla shares closed down 1.15% on Friday, with a 31.23% decrease year-to-date.

Portfolio Pulse from Anan Ashraf

March 25, 2024 | 11:00 am

NSANY

Nissan Motor Co., Ltd (OTC:NSANY) announced plans to introduce 30 new models by fiscal 2026, aiming for a global sales increase of 1 million vehicles with a focus on electrification. Of these, 16 will be electrified models, with a goal to reduce the cost of EVs by 30% by 2030. The company targets an operating profit margin over 6% and total shareholder returns above 30% by 2030. Nissan plans to invest over ¥400 billion in battery capacity, with electrification investment exceeding 70% by fiscal 2026. The new business plan could unlock an additional ¥2.5 trillion in revenues by 2030. NSANY shares closed higher by 2.18% at $8.45.

Portfolio Pulse from Shivani Kumaresan

March 25, 2024 | 10:44 am

ESPR

Esperion's shares surged following the FDA's approval of broad labels for NEXLETOL and NEXLIZET, allowing their use to prevent heart attacks and cardiovascular procedures, irrespective of statin use.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 10:44 am

AMD

INTC

NVDA

Shares of Advanced Micro Devices (AMD) fell in premarket trading after reports that China plans to eliminate U.S.-made microprocessors from government computers, affecting AMD and Intel. Nvidia (NVDA), on the other hand, saw a premarket increase, attributed to its diverse AI accelerator applications and less direct impact from the Chinese decision. This development is part of China's effort to promote domestic technology amidst trade tensions with the U.S.

Portfolio Pulse from Shanthi Rexaline

March 25, 2024 | 10:43 am

AXSM

Axsome Therapeutics' stock is trading higher after its AXS-12 drug successfully met the primary endpoint in the SYMPHONY phase 3 trial for treating narcolepsy.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 10:41 am

AMZN

ZM

Zoom announced the launch of Zoom Workplace, an AI-powered collaboration platform, now available in AWS Marketplace. This platform includes products like Meetings, Team Chat, Phone, Whiteboard, Spaces, Zoom Contact Center, and Revenue Accelerator, facilitating easy purchase, testing, and deployment for customers on Amazon Web Services (AWS).

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 10:08 am