Streetbeat News

Acquisitions Mergers

UUUU

Energy Fuels has received shareholder and regulatory approval for its acquisition of Base Resources. This acquisition is expected to transform Energy Fuels into a leading producer of rare earth elements, titanium, and zirconium, while maintaining its status as a top U.S. uranium producer.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 8:26 pm

AWK

Indiana American Water, a subsidiary of American Water Works Company, has received approval from the Indiana Utility Regulatory Commission for a $45 million acquisition of Silver Creek Water Corporation. This acquisition will expand their service to 8,000 new customers in Southern Indiana, with the closing expected by mid-November.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 8:26 pm

SLX

X

The Biden administration plans to veto Nippon Steel's $14.9 billion acquisition of U.S. Steel, citing national security concerns. This move is seen as politically motivated, aiming to gain labor union votes in Pennsylvania. U.S. Steel's stock has dropped over 16% since the news, while Jefferies maintains a Buy rating but lowers the price target. The VanEck Steel ETF also saw a slight decline.

Portfolio Pulse from Natan Ponieman

September 05, 2024 | 6:54 pm

YEXT

Yext, Inc. (NYSE:YEXT) has been upgraded to Buy by Needham analyst Ryan MacDonald, with a price target of $8. The upgrade follows better-than-expected Q2 EPS results and positive FY25 revenue guidance. The Hearsay acquisition is expected to drive margin expansion despite initial dilution, and cross-sell opportunities could boost growth in FY26.

Portfolio Pulse from Nabaparna Bhattacharya

September 05, 2024 | 6:37 pm

X

The Committee on Foreign Investment in the United States (CFIUS) has raised national security concerns regarding Nippon Steel's bid for U.S. Steel, citing potential reductions in domestic steel production capacity. U.S. Steel and Nippon Steel have responded to 19 rounds of questions from CFIUS, which also considered Nippon Steel's limited use of trade remedies.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 6:30 pm

APLD

CHPT

EAST

SAIC

Science Applications International Corp (SAIC) reported strong Q2 earnings, with revenue and EPS beating analyst expectations. Eastside Distilling (EAST) surged on a merger announcement, while Applied Digital (APLD) rose on a significant financing agreement. ChargePoint Holdings (CHPT) fell due to disappointing revenue results.

Portfolio Pulse from Avi Kapoor

September 05, 2024 | 6:30 pm

EWJ

TM

Toyota and Nissan, along with other companies, are set to invest approximately $7 billion to increase Japan's battery production capacity by 50%, focusing on automotive batteries. This investment will raise the capacity from 80 GWh to 120 GWh.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 6:21 pm

X

The CFIUS process regarding the potential involvement of Nippon Steel with U.S. Steel is ongoing, as stated by White House Press Secretary Jean-Pierre. This indicates that regulatory scrutiny is still in progress.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 5:41 pm

PRMW

Primo Water shares rose following the expiration of the waiting period under the Hart-Scott-Rodino Act for its all-stock combination with BlueTriton Brands.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 5:38 pm

FYBR

NIO

TSLA

VZ

X

The S&P 500 fell below 4,500 points due to cooling jobs data, while Tesla led tech gains. Natural gas prices spiked, and major indices saw declines. Notable stock movements included Tesla's 4% rise and Verizon's acquisition of Frontier Communications.

Portfolio Pulse from Piero Cingari

September 05, 2024 | 5:35 pm