Streetbeat News

Acquisitions Mergers

DIS

Trian Group, owning $3.5 billion of Disney stock, urges shareholders to vote for its nominees, Nelson Peltz and Jay Rasulo, to improve Disney's performance. Disney's recent strategies, including a $1.5 billion investment and a sports streaming venture, have not improved shareholder returns, with the stock price and earnings estimates declining. Trian criticizes Disney's lack of a clear plan and calls for new independent directors to ensure accountability and strategic focus.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 4:18 pm

LYFT

UBER

Uber Technologies, Inc (NYSE:UBER) announced a stock repurchase program of up to $7 billion, following a strong fourth-quarter FY23 performance with a 15% year-on-year revenue growth to $9.94 billion, surpassing the consensus of $9.76 billion. Its GAAP EPS of $0.29 also beat the consensus of $0.17. Meanwhile, Lyft, Inc (NASDAQ:LYFT) reported a 4% year-on-year increase in quarterly sales to $1.225 billion, exceeding the consensus of $1.220 billion, with a 26% growth in rides and an EPS of $0.18, beating the consensus of $0.08. Uber's stock traded higher by 12.01% at $77.27.

Portfolio Pulse from Anusuya Lahiri

February 14, 2024 | 4:18 pm

MRK

The analysis compares Merck & Co (NYSE:MRK) against its pharmaceutical industry peers, focusing on financial metrics like P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, and revenue growth. Merck's high P/E ratio suggests a premium valuation, while its low P/B ratio indicates potential undervaluation. The company's high ROE points to efficient equity use, but its lower EBITDA and gross profit hint at possible financial challenges. Merck's revenue growth is below the industry average, suggesting slower sales performance.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 4:00 pm

KKR

Cotiviti has announced a recapitalization agreement with KKR and its long-standing owner Veritas. Under the agreement, KKR and Veritas will become co-sponsors, holding equal ownership stakes in Cotiviti. KKR's investment comes primarily through its North America Fund XIII, while Veritas is investing through Veritas Fund VIII.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 3:40 pm

BTCUSD

ETHUSD

SPY

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin surged despite higher-than-expected US inflation, with Bitcoin traders targeting $64K and Galaxy Digital's CEO bullish on BTC amid US debt increase. US markets saw Airbnb and other stocks moving lower, while the Fear & Greed Index entered the 'Greed' zone. In politics, Biden and Trump are in a tight race, with Biden aiming to win back independents. Globally, tensions rise with North Korea and Russia. In the economy, US inflation fears impact Asia-Pacific markets. Tech highlights include Nvidia's potential risk, Apple's iOS updates, and Alibaba's partnerships. Tesla and BYD compete in the EV market, while Shopify plans international expansion. Legal issues arise with Barclays and Amazon Prime Video. Energy sector news includes Eversource's Q4 earnings miss.

Portfolio Pulse from Akanksha Bakshi

February 14, 2024 | 3:30 pm

FOXO

FOXO Technologies has entered into a non-binding agreement to merge with M2i Global. The financial terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:38 pm

DSX

Diana Shipping Inc. (DSX) has signed contracts for two new Kamsarmax dry bulk vessels with methanol dual fuel capabilities for $46M each, to be built by Tsuneishi Group (Zhoushan) Shipbuilding Inc., China, and delivered by 2027 and 2028. These vessels are designed to meet stringent energy efficiency and GHG emissions standards, capable of operating on methanol or fuel oil, with near-zero GHG emissions when using green methanol. This expansion follows the sale of m/v Artemis, leaving DSX's fleet at 39 vessels with a combined capacity of approximately 4.5 million dwt.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:35 pm

UMAC

Unusual Machines, Inc., a leader in FPV drone technology, announced its IPO pricing at $4 per share for 1.25M shares, aiming to raise $5M. The shares will trade on the NYSE American under the symbol 'UMAC' starting February 14, 2024. The proceeds will fund the Fat Shark and Rotor Riot acquisitions, working capital, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:02 pm

YTEN

Yield10 Bioscience has granted a global license to VISION Bioenergy for certain Camelina varieties, including those with herbicide tolerance, for use in biofuels. The deal includes $3M in cash payments to Yield10, with a three-year exclusivity period for VISION, after which the license becomes non-exclusive. Yield10 retains rights for sublicensing and developing these varieties for other products.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:02 pm

IINN

Inspira Technologies (IINN) stock surged 113.5% to $2.05 after announcing the U.S. Patent approval for its VORTX technology, a key component of the INSPIRA ART500 device. This innovation aims to revolutionize blood oxygenation by eliminating the need for fiber membranes, reducing blood cell damage. CEO Dagi Ben-Noon highlighted this as a critical advancement in patient care and healthcare technology.

Portfolio Pulse from Henry Khederian

February 14, 2024 | 2:01 pm