Streetbeat News

Acquisitions Mergers

CNP

CenterPoint Energy, Inc. (CNP) has sold its natural gas LDC businesses in Louisiana and Mississippi to Bernhard Capital Partners for $1.2 billion. The sale includes around 12,000 miles of pipeline and serves about 380,000 customers, making it the second largest in both states by customer accounts.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 11:32 am

ACAC

Acri Capital Acquisition Corp (NASDAQ:ACAC) and Foxx Development Inc. announced a $50M SPAC merger, aiming to list the Combined Company on Nasdaq. The deal includes an escrow account for Foxx Stockholders, contingent on FCC program funding, and additional shares based on future financial milestones. Post-merger, Acri stockholders will own 51.98% and Foxx Stockholders 48.02% of the Combined Company, with potential adjustments based on Acri's public stockholder redemptions.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 11:16 am

CURYY

JD

JD.com has announced it is in the early stages of considering a transaction that could involve a cash offer for all issued shares of Currys. This move indicates JD.com's interest in expanding its market presence by potentially acquiring Currys.

Portfolio Pulse from Charles Gross

February 20, 2024 | 10:18 am

BYDDY

TSLA

Tesla Inc. (NASDAQ:TSLA) saw a 67% year-on-year increase in new vehicle registrations in the EU in January, with 14,466 new vehicles. However, this growth was slightly outpaced by Chinese state-owned SAIC Motors, which reported a 69.5% increase with 9,746 new registrations. Despite Tesla's growth, it lost the title of the world's top-selling BEV maker to BYD Co Ltd (OTC:BYDDY) (OTC:BYDDF) last year. SAIC Motors' performance indicates that BYD is not the only Chinese competitor challenging Tesla's dominance in the electric vehicle market.

Portfolio Pulse from Anan Ashraf

February 20, 2024 | 10:16 am

COF

DFS

Capital One Financial Corporation (NYSE:COF) announced its plans to acquire Discover Financial Services (NYSE:DFS) in a $35.3 billion all-stock transaction, causing COF shares to fall 5.8% in pre-market trading. Other stocks like MicroCloud Hologram Inc. (NASDAQ:HOLO), Tevogen Bio Holdings Inc. (NASDAQ:TVGN), SSR Mining Inc. (NASDAQ:SSRM), Sasol Limited (NYSE:SSL), Nano-X Imaging Ltd. (NASDAQ:NNOX), C4 Therapeutics, Inc. (NASDAQ:CCCC), and Bitfarms Ltd. (NASDAQ:BITF) also recorded losses in pre-market trading for various reasons.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 10:11 am

ONEQ

SMCI

SOXX

Super Micro Computer Inc. (SMCI) has seen a remarkable 9,900% increase in stock value since its 2007 IPO, significantly outperforming Nvidia and the Philadelphia Semiconductor Index (SOXX) in 2023. With strong financials and an optimistic outlook, Super Micro's revenue guidance has been raised to $14.3-$14.7 billion. The company's focus on AI-optimized computer platforms has contributed to its success, despite a recent pullback after Wells Fargo's cautious rating. BofA Securities initiated coverage with a Buy rating and a $1,040 price target, highlighting the company's potential in the growing AI server market.

Portfolio Pulse from Shanthi Rexaline

February 20, 2024 | 9:50 am

AMZN

Brazilian fintech Stark Bank, backed by Jeff Bezos, has significantly increased its profits and managed its funding efficiently. The company's payment processing business tripled, reaching 155 billion reais in 2023, and net income doubled to 71.5 million reais. Stark Bank, which has received investments from Bezos Expeditions and Ribbit Capital, is focusing on expanding its market share in Brazil without diluting its founder's stake. The company is considering an IPO around 2029.

Portfolio Pulse from Benzinga Neuro

February 20, 2024 | 9:26 am

ACN

Accenture (NYSE:ACN) is set to acquire GemSeek, a top customer experience analytics provider. This move is part of Accenture Song's investment in data and AI to enhance client growth and customer relevance.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 8:45 am

MRDB

MariaDB plc (NYSE:MRDB) received an unsolicited non-binding acquisition proposal from K1 Investment Management through K5 Private Investors, L.P. on February 15, 2024. The proposal is under review by MariaDB's Board, with no certainty that it will lead to an actual offer.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 8:35 am

VST

Vistra received the final regulatory approval from the Federal Energy Regulatory Commission (FERC) for its acquisition of Energy Harbor, which includes a 4,000-megawatt nuclear generation fleet and a retail business of approximately 1 million customers. This acquisition is seen as a significant step in accelerating Vistra's growth in zero-carbon generation.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 8:20 am