Apollo Strikes $1 Billion Deal with BP for Trans Adriatic Pipeline Stake

Image source: Wikimedia Commons

Apollo Strikes $1 Billion Deal with BP for Trans Adriatic Pipeline Stake.⚡ Apollo Global Management has agreed to a $1 billion deal with BP to fund its 20% stake in the Trans Adriatic Pipeline. This move supports BP’s divestment target for 2024, with the deal set to close in Q4. Reuters reports.

✈️ StrikeTakeoff: Boeing and union negotiators to resume talks amid strike, federal mediators say. Reuters reports.

⏰ TikTocked: TikTok faces crucial court hearing that could decide fate in US. Reuters reports.

🤖 NewAIWave: Salesforce deploys autonomous AI agents, hailing 'the third wave of the AI revolution'. Yahoo Finance reports.

🚀 TigAI: Tiger Global plans to join OpenAI’s funding round at more than $150 billion valuation. CNBC reports.

💼 PrivacySettled: Oracle settles suit over tracking user data for $115 million. Yahoo Finance reports.

⚖️ Antitrust: EU break-up order to Google unlikely for now. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $DRMA: Dermata Therapeutics
Total gain: +104.43%

2. $NCNA: NuCana
Total gain: +96.45%

3. $XCUR: Exicure
Total gain: +54.37%

4. $ATPC: Agape ATP
Total gain: +29.71%

5. $ADN: Advent Technologies Hldgs
Total gain: +21.07%

* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 11 AM ET, as our Risk Management educator.

How Are Measured Moves Used As Targets?

With measured moves, you don't have to guess. You measure the move out and say, "This is my target." A target is not necessarily where you exit a trade. A target is where an action is required. Whether that action is to cut, take off part of the trade, take off the whole trade, tighten your stop to break even, tighten it up to a smaller loss, or even add to it.

If you're a trend trader, many trend traders, when they have a winning trade, add to it because they take some of those winnings and double or triple the position. I don't do that. That approach assumes I can predict how far the move is going to go.

I use measured move targets as a high-probability place where I know the market may pause. It doesn't mean it's going to stop, but it may pause.

The closing price of the top three market percent gainers trading near or above $3 on September 13.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $OMIC: Singular Genomics Systems
Total gain: +110.62%
The company announced that it has received a non-binding proposal from Deerfield Management Company and certain affiliated funds to acquire all of the company's outstanding shares of common stock not already owned by Deerfield for $10.00 per share in cash. Benzinga reports.

2. $TIL: Instil Bio
Total gain: +82.26%
The stock appeared to be moving on no notable news.

3. $TNON: Tenon Medical
Total gain: +71.59%
The company announced the pricing of its "reasonable best efforts" public offering with a single healthcare-focused institutional investor for the purchase and sale of up to 1,222,850 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 1,222,850 shares of common stock at a combined offering price of $3.68 per share and accompanying warrant, priced at-the-market under Nasdaq rules. Benzinga reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

VNCE: Vince Holding
2Q 2024
After Market Close
Estimate: -0.250
Actual: N/A

RFIL: RF Industries
3Q 2024
After Market Close
Estimate: 0.060
Actual: N/A

HITI: High Tide
3Q 2024
After Market Close
Estimate:-0.020
Actual: N/A

Time (ET) / Report / Period

8:30 am - Empire State manufacturing survey - September

“In the world of securities, courage becomes the supreme virtue after adequate knowledge and a tested judgment are at hand.”

― Benjamin GrahamSourced in:
“The intelligent investor: A book of practical counsel”, by Benjamin Graham, published in 1949