Streetbeat News

Acquisitions Mergers

RGLD

Royal Gold has entered into an additional agreement with Centerra, extending the mine life at Mount Milligan. Under this agreement, Royal Gold will receive approximately $125 million. This strategic move is expected to enhance Royal Gold's revenue stream from the mine over the extended period.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:47 am

ES

Eversource Energy (NYSE:ES) reported Q4 FY23 revenue of $2.69 billion, missing the consensus of $3.24 billion. Adjusted EPS of $0.95 also missed the consensus of $0.97. The company announced the sale of its 50% stake in South Fork Wind and Revolution Wind to Global Infrastructure Partners, expecting to realize $1.1 billion and use it to repay debt. Eversource is also exploring the sale of its water business. Shares rose 1.10% in premarket trading.

Portfolio Pulse from Lekha Gupta

February 14, 2024 | 11:15 am

ARYD

Adagio Medical is set to list on the Nasdaq through a business combination with ARYA Sciences Acquisition Corp IV, under the ticker symbol 'ADGM'. The transaction includes $20 million in convertible debt and $22 million in equity financing from investors.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:12 am

ACAC

Acri Capital Acquisition has announced an extension of its deadline to complete an initial business combination, now set for March 14, 2024. This extension provides the company with additional time to find and finalize a merger or acquisition deal.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:10 am

AAPL

DIS

FOX

WBD

Disney (NYSE:DIS), Fox Corp (NASDAQ:FOX), and Warner Bros. Discovery Inc (NASDAQ:WBD) are considering a former Apple Inc (NASDAQ:AAPL) executive, Pete Distad, for the CEO role of their new sports streaming service. This service, expected to launch later this year, will consolidate live sports programming from 14 networks including ESPN, ABC, TNT, TBS, and Fox's channels, covering major sports like NFL, NBA, MLB, and more. The venture aims to recapture revenue lost to cord-cutting by offering an extensive sports content lineup.

Portfolio Pulse from Benzinga Neuro

February 14, 2024 | 10:48 am

MSI

Motorola Solutions has completed the acquisition of Silent Sentinel, a company known for its specialized, long-range cameras. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 10:33 am

SONY

Sony Group Corp (NYSE:SONY) plans to take its financial unit public in October 2025 following a decrease in PS5 sales, which led to a revision of its fiscal year sales forecast. This move reverses a $3.7 billion take-private deal from 2020. Despite strong software sales, hardware disappointments prompted a revenue forecast cut. Additionally, Sony recently acquired Michael Jackson's music catalog for $600 million and saw the PS5 outsell Microsoft's Xbox Series X | S by two to one.

Portfolio Pulse from Benzinga Neuro

February 14, 2024 | 9:06 am

LCW

Learn CW Investment Corporation, a special purpose acquisition company, has announced an extension of the deadline to complete its initial business combination from February 13, 2024, to March 13, 2024. This extension, facilitated by a $150,000 deposit into the company's trust account, marks the fifth of up to twelve possible one-month extensions as per the company's governing documents.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 7:28 am

BYDDY

TSLA

BYD Co. is planning to establish a new production facility in Mexico to serve as an export hub for the U.S. market, intensifying its competition with Tesla Inc., which is also expanding in Mexico with a new Gigafactory. This move comes as BYD overtakes Tesla as the biggest EV seller and expects a significant increase in net profit for FY 2023.

Portfolio Pulse from Benzinga Neuro

February 14, 2024 | 7:12 am

BABA

JD

PDD

Alibaba Group Holding Ltd (NYSE:BABA) is losing ground as merchants in Shaji, China, shift to rival platforms like JD.com Inc. (NASDAQ:JD), Pinduoduo Inc. (NASDAQ:PDD), and ByteDance Ltd.'s Douyin due to a decline in Alibaba's sales guarantee. This shift is attributed to changing consumer behaviors and the rise of cross-platform shopping. Despite Alibaba's restructuring efforts and the growth of its international arm, the company faces challenges in its core e-commerce business as rivals gain momentum.

Portfolio Pulse from Benzinga Neuro

February 14, 2024 | 7:04 am