Streetbeat News

Acquisitions Mergers

ACI

Colorado Attorney General Phil Weiser has filed a lawsuit to prevent the proposed merger between Kroger and Albertsons, arguing that it could potentially harm competition and negatively impact consumers.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 5:57 pm

HMC

SONY

TSLA

Sony and Honda's joint venture, Sony Honda Mobility, plans to launch three electric vehicle (EV) models by the late 2020s to compete with Tesla. The lineup includes a sedan in 2025, an SUV in 2027, and an affordable compact by 2028, all sharing the same chassis for cost efficiency. The Afeela Sedan is expected to be priced over 10 million yen ($66,413). Additionally, Honda recently recalled 750,114 vehicles in the US over airbag concerns but reported no injuries. Honda aims for up to 1.3 million sales for the Honda brand and 150,000 for Acura in 2024. HMC shares dropped 1.06% to $33.70.

Portfolio Pulse from Lekha Gupta

February 14, 2024 | 5:36 pm

QRTEA

Michael Burry has taken a new position in Qurate Retail, purchasing 600,000 shares, as revealed in a 13F filing.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 5:32 pm

DOOR

Owens Corning Inc (NYSE:OC) reported Q4 FY23 net sales growth of 1% Y/Y to $2.30 billion, beating consensus estimates. Adjusted EPS rose to $3.21 from $2.49 a year ago, surpassing expectations. The company saw an 18% Y/Y increase in adjusted EBIT to $392 million and a 13% rise in adjusted EBITDA to $518 million. Owens Corning expects Q1 FY24 net sales to be slightly below Y/Y with mid-teen EBIT margins and has forecasted FY24 corporate expenses and capital additions. Additionally, Owens Corning announced the acquisition of Masonite International Corp (NYSE:DOOR) for $3.9 billion. OC shares dropped 1.75% to $144.47.

Portfolio Pulse from Lekha Gupta

February 14, 2024 | 5:23 pm

AXP

JAZZ

PEP

TLRY

Emily Paxhia, co-founder of Poseidon Investment Management, leverages her psychology background to analyze and invest in the cannabis industry. Poseidon, established in 2013, has successfully invested in major cannabis companies like Aphria (now part of Tilray Brands) and GW Pharmaceuticals (acquired by Jazz Pharmaceuticals). Paxhia's expertise has positioned Poseidon as a leader in cannabis investment, focusing on companies with strong market potential and recession-resistant products.

Portfolio Pulse from Nina Zdinjak

February 14, 2024 | 5:14 pm

ROKU

VZIO

WMT

Walmart Inc is considering acquiring Vizio Holding Corp, causing volatility in Roku Inc's shares. Analysts provided mixed views on the impact of this potential deal on Roku and Vizio ahead of Roku's Q4 earnings. Some see it as a negative for Roku, potentially losing its position in Walmart's ecosystem, while others view it as an opportunity for Roku to leverage its large active account base.

Portfolio Pulse from Chris Katje

February 14, 2024 | 5:09 pm

CNHI

CNH Industrial NV (NYSE:CNHI) reported a Q4 fiscal 2023 revenue decline of 2% YoY to $6.79 billion, slightly beating consensus estimates. Despite a decrease in Industrial Activities sales, Construction net sales grew by ~9% YoY. The company announced an additional $500 million share buyback program and provided a 2024 outlook expecting lower global industry retail sales in agriculture and construction equipment markets. Adjusted EPS was $0.42, in line with consensus. CNHI shares rose 5.25% to $12.44.

Portfolio Pulse from Akanksha Bakshi

February 14, 2024 | 4:56 pm

MLM

Martin Marietta Materials Inc (NYSE:MLM) reported Q4 FY23 results with an 8.9% Y/Y revenue increase to $1.608 billion, missing consensus by a slight margin but beating EPS expectations with $4.63 vs. $3.99 consensus. The company saw a significant improvement in gross profit and margin, and despite a decrease in aggregates shipments, pricing increased. FY24 guidance was provided with expected total revenues and adjusted EBITDA below consensus. Additionally, MLM announced a $2.05 billion acquisition of operations from BWI Southeast.

Portfolio Pulse from Lekha Gupta

February 14, 2024 | 4:43 pm

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