Streetbeat News

Acquisitions Mergers

NPSCY

X

Nippon Steel is increasing its lobbying efforts in Washington, spending $1.3 million to secure its $15 billion acquisition of United States Steel Corporation (NYSE:X). The acquisition faces opposition from U.S. lawmakers, including President Biden, Kamala Harris, and Donald Trump, due to concerns over national security and job losses.

Portfolio Pulse from Benzinga Neuro

October 22, 2024 | 8:55 am

MMI

Marcus & Millichap successfully closed a $101 million sale of an 11-property Courtyard Hotel portfolio across seven U.S. states, representing Skyline Investments Inc. and securing buyers with minimal contingencies.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 6:32 am

MIELF

MIELY

Mitsubishi Electric's ME Innovation Fund invests in Formic Technologies to transform industrial robotics with a subscription model, aiming to make automation solutions more accessible.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 6:17 am

AMZN

ARKQ

CERS

Cathie Wood's Ark Invest purchased $3.95M worth of Amazon stock, indicating confidence in Amazon's potential nuclear energy ventures. The ARKQ fund acquired 20,883 shares of Amazon, reflecting 0.4951% of the ETF. This move follows Amazon's job posting for a Principal Nuclear Engineer, suggesting a strategic energy shift.

Portfolio Pulse from Benzinga Neuro

October 22, 2024 | 2:28 am

LLAP

LMT

Lockheed Martin is set to report its Q3 financial results, with expectations of $6.50 EPS and $17.351 billion in revenue. Investors are keen on updates regarding the acquisition of Terran Orbital and recent contracts. The company may benefit from relaxed export restrictions on space items. Analyst Charles Minervino raised the price target for Lockheed Martin to $705.

Portfolio Pulse from Erica Kollmann

October 21, 2024 | 10:14 pm

IIIN

Insteel Industries Inc. has acquired Engineered Wire Products for $70 million in an asset transaction funded from cash on hand. EWP is a leading manufacturer of welded wire reinforcement products with sales of $93.3 million for the year ending September 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 8:27 pm

KKR

KKR has acquired a portfolio of four Class A industrial warehouses in Central Florida, totaling 1.2 million square feet. The properties are fully leased to high-quality tenants. This acquisition is part of KKR's strategy to expand its warehouse holdings in the U.S.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 8:20 pm

AUB

Atlantic Union is experiencing a decline in share price following the announcement of a $350 million public offering and a $1.6 billion merger agreement to acquire Sandy Spring Bancorp.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 7:50 pm

TFC

Truist Bank has agreed to pay $9.13 million to settle allegations related to SunTrust Bank's trust account administration issues from 2011 to 2015. This settlement resolves claims under the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) following SunTrust's acquisition by BB&T and subsequent rebranding as Truist.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 7:05 pm

GRDN

Truist Securities has initiated coverage on Guardian Pharmacy Services, Inc (NYSE:GRDN) with a Buy rating and a price target of $22. The company, which recently went public, operates long-term care pharmacies and is well-positioned in a fragmented market with strong industry trends. Guardian's strategic focus on assisted living and behavioral health facilities, along with its financial flexibility, supports its growth potential.

Portfolio Pulse from Vandana Singh

October 21, 2024 | 6:54 pm