Streetbeat News

Acquisitions Mergers

VZIO

WMT

Walmart Inc (NYSE:WMT) reported a Q4 FY24 net sales increase of 5.7% Y/Y to $173.39 billion, surpassing consensus estimates. Adjusted EPS was $1.80, also beating expectations. The company announced a dividend hike and an acquisition of VIZIO Holding Corp (NYSE:VZIO) for approximately $2.3 billion. Walmart's U.S. operations saw significant growth, with eCommerce sales up 17%. The company expects Q1 consolidated net sales growth of 4.0% to 5.0% and adjusted EPS of $1.48 - $1.56. FY25 projections include net sales growth of 3.0% to 4.0% and adjusted EPS of $6.70 - $7.12.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 2:21 pm

TWOA

TWOA has announced a private placement of 1.5 million shares at $10 each, totaling $15 million, in connection with its merger with LatAm Logistic Properties (LLP). This merger will result in the creation of a new holding company, Logistic Properties of the Americas (Pubco), which will become the publicly traded parent company of TWOA and LLP. The transaction, aimed at strengthening their position in the industrial and logistics real estate sector in Central and South America, is expected to close with Pubco's shares listed on the NYSE under the ticker 'LPA'.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:14 pm

ACB

BGXX

BMY

CWBHF

Several cannabis companies announced executive and board changes, including Aurora Cannabis appointing Simona King as CFO and Cresco Labs promoting Greg Butler to president. Other companies like Rubicon Organics, STIIIZY INC., and Lowell Farms also made significant appointments. Additionally, board changes occurred at Charlotte’s Web Holdings and Bright Green Corporation, among others. These changes reflect ongoing shifts in the cannabis industry's leadership landscape.

Portfolio Pulse from Jelena Martinovic

February 20, 2024 | 2:11 pm

DTSS

Datasea Inc. (NASDAQ:DTSS) has established a joint venture, Datasea Yiyun (Shenzhen) Digital Technology Co., Ltd. (DataSea Digital), with Shenzhen Yiyun Technology Co., Ltd. to enhance its penetration in China's 5G multimodal communications sector using AI. Datasea holds a 66% equity stake, while Yiyun Technology owns 34%. The venture aims to leverage Datasea's technology and Yiyun's marketing capabilities to drive significant revenue in 2024, focusing on AI-based 5G services to diversify customer base and improve user experience.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:06 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) is set to invest $2.1 billion in Spain to expand its artificial intelligence (AI) and cloud infrastructure over the next two years. This move follows a $3.45 billion investment in Germany, emphasizing Microsoft's commitment to AI and digital transformation globally. The investment aims to support Spain's security, government, businesses, and citizens' digital transformation, reflecting Microsoft's long-term commitment to the country.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 2:02 pm

LQR

LQR House Inc. (NASDAQ:LQR), a niche ecommerce platform specializing in the spirits and beverage industry, announced a significant expansion into the UK market through a ~$1.35M purchase order for SWOL Tequila from Access Fulfillment. This marks the company's first UK-based partnership, highlighting its global brand growth ambitions and positive customer reception.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:58 pm

COF

DFS

Discover Financial's stock is trading higher following the announcement that Capital One will acquire the company. This move is significant in the financial sector, indicating a potential shift in market dynamics.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:57 pm

ACB

Aurora Cannabis Inc (NASDAQ:ACB) announced the completion of its share consolidation on a 10 to 1 basis, effective at market open Tuesday. Additionally, Simona King, a former Bristol Myers-Squibb executive, has been appointed as CFO, replacing Glen Ibbott who will step down but remain in an advisory role for a smooth transition. The company's stock is in the spotlight due to these changes.

Portfolio Pulse from Adam Eckert

February 20, 2024 | 1:57 pm

COF

Capital One Financial's stock is trading lower following the announcement of its plans to acquire Discover. This move indicates a significant expansion in Capital One's credit card and loan portfolios, potentially reshaping the competitive landscape in the financial services sector.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:51 pm

BABA

PDD

Alibaba Group Holding Ltd (NYSE:BABA) is focusing on expanding its international e-commerce business, which saw a 44% revenue increase to $4 billion in the December quarter, contrasting with a modest 2% growth in its core businesses, Taobao and Tmall Group. CEO Eddie Wu, succeeding Daniel Zhang, aims to invest in user experiences, public cloud products, and international commerce growth. Alibaba faces competition from PDD Holdings Inc (NASDAQ:PDD) and others. Despite challenges, Alibaba's stock rose close to 3% last week, with notable investments from figures like Michael Burry and institutions such as Renaissance Technologies.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 1:50 pm