Streetbeat News

Acquisitions Mergers

FANH

Singapore White Group has announced an investment of up to $500 million in Fanhua Inc. (FANH), a leading Chinese insurance services provider. This significant financial injection aims to bolster Fanhua's market position and expand its service offerings.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:52 pm

FANH

PUYI

Singapore White Group Pte. Ltd. has entered into a framework agreement with Puyi and Fanhua Inc., planning to invest up to $500 million in each company. This significant investment aims to bolster both companies' financial positions and strategic initiatives.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:49 pm

EMN

SON

TROX

Wall Street's most accurate analysts have recommended three high-dividend yielding stocks in the materials sector: Sonoco Products Company (SON), Eastman Chemical Company (EMN), and Tronox Holdings plc (TROX). SON plans to sell its protective solutions packaging business for $80 million. EMN posted better-than-expected Q4 earnings. TROX reported a 26% decrease in Q3 revenue compared to the previous year.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 1:42 pm

DFH

Dream Finders Homes has completed the acquisition of Crescent Homes, obtaining assets valued at over $265 million. This strategic move is expected to significantly enhance Dream Finders Homes' market presence and asset base.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:32 pm

CVX

HES

Chevron Corp (NYSE:CVX) reported mixed Q4 FY23 results with total revenues of $47.18 billion missing consensus estimates but adjusted EPS of $3.45 beating expectations. The company saw a loss in U.S. upstream operations but increased international upstream earnings and raised its dividend by 8%. Chevron also completed acquisitions, including PDC Energy, Inc. and a majority stake in ACES Delta, LLC, and announced an acquisition deal with Hess Corporation (NYSE:HES). Shares rose 1.42% in premarket trading.

Portfolio Pulse from Lekha Gupta

February 02, 2024 | 1:11 pm

FIX

Comfort Systems USA has completed the acquisition of J & S Mechanical Contractors. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:11 pm

ABBV

AbbVie has provided its adjusted diluted EPS guidance for 2024, forecasting $11.05-$11.25. This projection includes a $0.32 per share dilutive impact from the acquisitions of ImmunoGen and Cerevel Therapeutics, which is slightly below the consensus estimate of $11.29.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 12:40 pm

TFC

Truist Financial Corporation (TFC) has agreed to sell its Sterling Capital Management to Guardian Capital Group's subsidiary for $70M, with the deal expected to close in Q2.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 12:26 pm

ENV

NAAS

NaaS Technology announced it has received an investment from Envestnet, a major player in the turnkey asset management program (TAMP) sector, through Envestnet's mutual fund. This strategic investment signifies a notable collaboration between a leading technology service provider in the energy sector and a giant in financial asset management.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 12:12 pm

RKLB

Rocket Lab USA, Inc (NASDAQ:RKLB) shares are on the rise in premarket trading after a significant drop the previous day. The company announced the upsizing of its private offering of convertible senior notes from $275 million to $300 million, with an option for an additional $55 million. The offering is set to close on February 6, 2024. Additionally, Rocket Lab disclosed preliminary Q4 financial results, including expected revenues of $59 million to $61 million and a net loss of $49 million to $52.5 million. The company also highlighted the successful launch of a space-junk focused mission for Spire Global. Rocket Lab is expected to report a Q4 loss of 10 cents per share on revenue of $65.968 million on February 27.

Portfolio Pulse from Nabaparna Bhattacharya

February 02, 2024 | 12:05 pm