Streetbeat News

Acquisitions Mergers

WMT

Walmart Inc. (NYSE:WMT) announced plans to build or convert over 150 stores in the next five years and remodel 650 stores in the next 12 months, creating jobs and investing in communities. Additionally, Walmart will conduct a 3-for-1 stock split to make share purchasing more attainable for its associates. The stock split was approved by the board and aligns with the company's growth and future plans, aiming to encourage associate participation in stock ownership.

Portfolio Pulse from Nabaparna Bhattacharya

January 31, 2024 | 3:37 pm

TEVA

Teva Pharmaceutical Industries Ltd (NYSE:TEVA) reported Q4 2023 sales of $4.46 billion, surpassing the consensus of $3.99 billion, driven by an upfront payment for a collaboration, product sales, and higher generic product revenues internationally. Adjusted EPS was $1.00, beating the $0.76 consensus. The company plans to divest its API business by the first half of 2025 and forecasts FY 2024 revenues of $15.7-$16.3 billion with adjusted EPS of $2.20-$2.50. TEVA shares rose 2.43% to $12.02.

Portfolio Pulse from Vandana Singh

January 31, 2024 | 3:14 pm

CNXA

LYT

MARK

NVVE

NYCB

POWL

U.S. stocks traded mixed with the Nasdaq Composite down 150 points. Utilities shares rose, while communication services fell. U.S. private sector job growth slowed in January, adding 107,000 jobs versus December's 158,000. Connexa Sports Technologies regained Nasdaq compliance, Lytus Technologies surged after a drop, and Powell Industries rose on strong results and dividend hike. Nuvve Holding, New York Community Bancorp, and Remark Holdings fell sharply due to a public offering, poor results and dividend cut, and a potential unconfirmed deal with Microsoft, respectively.

Portfolio Pulse from Avi Kapoor

January 31, 2024 | 2:42 pm

PARA

PARAA

Paramount Global's stock is up after reports that Byron Allen proposed a $14 billion acquisition of the company.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:31 pm

AXNX

BSX

Boston Scientific Corporation (NYSE:BSX) shares are rising in premarket trading after reporting Q4 revenues of $3.725 billion, surpassing the Wall Street estimate of $3.59 billion. The company's sales increased by 14.9% on a reported basis and adjusted EPS was $0.55, beating the consensus of $0.51. Boston Scientific also announced an agreement to acquire Axonics, Inc. (NASDAQ:AXNX) and received FDA approval for the FARAPULSE PFA System. The company provided a positive outlook for 2024 with estimated net sales growth and adjusted EPS in line with consensus estimates. BSX shares are up 4.49% at $64.18 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

January 31, 2024 | 2:27 pm

INCR

InterCure has signed a definitive agreement to acquire the Leon Cannabis Pharmacy Chain. Upon closing, InterCure will issue between 1,755,000 to 1,845,000 shares to the sellers, with the exact number depending on InterCure's share price at the time of completion.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:23 pm

TTE

TotalEnergies has signed an agreement to acquire OMV's upstream gas assets in Malaysia for a total consideration of $903 million, which includes the transfer of a $350 million loan. This strategic acquisition will enhance TotalEnergies' portfolio in the region.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:14 pm

EFBI

LCNB

LCNB Corp expects to close its acquisition of Eagle Financial Bancorp in Q2 2024, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:10 pm

UTZ

Utz Brands has disclosed that some of its subsidiaries have entered into an agreement to sell specific assets and brands to Our Home, with total cash proceeds amounting to $182.5 million.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:07 pm

AJG

Arthur J. Gallagher & Co. has acquired Ericson Insurance Advisors. The financial terms of the deal were not disclosed. This acquisition is part of Arthur J. Gallagher & Co.'s strategy to expand its presence and service offerings.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:04 pm