Streetbeat News

Acquisitions Mergers

EQIX

Equinix, Inc. (NASDAQ:EQIX) has executed a new Power Purchase Agreement (PPA) in Australia with TagEnergy for 151 megawatts of renewable energy from the Golden Plains Wind Farm – East project, expected to be online by 2029. This marks Equinix's first long-term renewable energy agreement in the Asia-Pacific region, contributing to its goal of 100% renewable energy coverage across its operations globally. Equinix has executed 21 PPAs globally, resulting in 3,000,000 MWh of renewable energy, and aims to become climate neutral by 2030.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:27 pm

BERY

Berry Global's shares dropped following its announcement of below-expectation Q1 FY24 results and a tax-free spin-off and merger of its Health division. The financial details of the quarter were not disclosed, but the market reaction suggests a negative view of both the earnings miss and the strategic move.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:24 pm

BABA

Alibaba Group Holding Limited (NYSE:BABA) stock traded lower after reporting Q3 FY23 earnings, missing consensus estimates with a 5% Y/Y revenue growth to $36.67 billion and adjusted earnings per ADS of $2.67. Despite segment growth in areas like International Digital Commerce and Cloud Intelligence, overall results fell short of expectations. Additionally, Alibaba announced an upsized share buyback program to $25 billion through March 2027.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 1:22 pm

DUOT

Duos Technologies Group, Inc. (NASDAQ:DUOT) has been awarded a patent for its AI technology aimed at detecting defects in trains, enhancing rail safety and operational efficiency. The patent covers technology integrating Machine Learning and a 'human in the loop' feature for improved inspections. This innovation is expected to prevent derailments and set new safety standards in the rail industry. Duos has also secured a multi-year contract with a Class 1 railroad, leveraging this AI technology.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:22 pm

MIDD

The Middleby Corporation (NASDAQ:MIDD) has acquired GBT GmbH Bakery Technology, a German company specializing in industrial baking and bread lines with annual revenues of approximately €10 million. This acquisition enhances Middleby's bakery portfolio, strengthens its European presence, and is expected to benefit from synergies and Middleby's established customer channels.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:18 pm

MSCI

MSCI Inc. has announced the acquisition of London-based Foxberry, a provider of front-office index technology, to expand its custom index offering. The integration of Foxberry's foxf9 platform will enhance MSCI's index customization solutions, aiming to meet the demand for tailored portfolios. The financial terms were not disclosed, and the transaction is expected to close in Q2 2024, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:18 pm

BURU

NUBURU, Inc. (NYSE:BURU), a leader in industrial blue laser technology, is exploring strategic alternatives, including a sale, merger, or other significant transactions, with Northland Capital Markets as its financial advisor. No timetable or decisions have been made, and there's no guarantee of a favorable outcome or any transaction occurring.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:10 pm

AAPL

MSFT

Rubén Caballero, a former Apple Inc. executive, has reportedly left his position at Microsoft Corp., where he was leading device engineering for mixed reality and AI since 2020. His departure, not officially announced, comes as Microsoft shifts focus towards artificial intelligence, canceling several hardware projects. This move could influence Microsoft's future direction in mixed reality and AI, areas where the company has been making significant strides.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 12:49 pm

TTE

TotalEnergies SE (NYSE:TTE) reported mixed Q4 FY23 results with revenues of $59.237 billion, surpassing expectations, but adjusted EPS fell 27% Y/Y to $2.16, missing consensus. Hydrocarbon production declined, and adjusted net operating income dropped 31% Y/Y. Despite this, the company increased its quarterly dividend by 7.1% and announced a $2 billion share repurchase for Q1 FY24. For FY24, TotalEnergies anticipates hydrocarbon production growth and reaffirmed net investments of $17-$18 billion, committing over 40% of CFFO payout to shareholder returns. TTE shares dropped 2.83% in premarket trading.

Portfolio Pulse from Lekha Gupta

February 07, 2024 | 12:45 pm

TRIN

Trinity Capital has announced a commitment of $20 million in equipment financing to Formlogic, aiming to support Formlogic's growth and expansion efforts.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 12:41 pm