Streetbeat News

Acquisitions Mergers

NSC

An investor group led by Ancora, holding a $1B stake in Norfolk Southern, is pushing to oust CEO Shaw, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

February 01, 2024 | 12:27 pm

ALLE

Allegion has acquired Boss Door Controls, a UK-based door solutions provider established in 2009. Boss Door Controls specializes in door closers, levers, automatic door operators, and pocket door frames. The terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:03 pm

THC

Tenet Healthcare has announced the completion of the sale of three hospitals in South Carolina and the initiation of the sale of four hospitals in Orange County and Los Angeles County, along with related operations. This strategic move is part of Tenet's ongoing efforts to optimize its hospital portfolio and focus on markets where it has the most significant impact.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 11:47 am

AUVI

Applied UV, Inc (NASDAQ:AUVI) announced its involvement in the Larimar City & Resort project in the Dominican Republic, developing case goods and smart building technologies. The company expects to deliver prototypes in Q3 2024, with a potential revenue opportunity of $250 to $300 million over 3-6 years. AUVI shares rose 1.89% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 01, 2024 | 11:30 am

STT

State Street has finalized its acquisition of CF Global Trading, although the financial details of the transaction were not disclosed. This strategic move could potentially enhance State Street's offerings in the trading sector.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 11:20 am

ACN

Accenture has announced a strategic investment in Tenchi Security, a Brazil-based third-party cyber risk management company. The financial terms of the deal were not disclosed. Accenture plans to integrate Tenchi's SaaS platform into its managed security services offering, aiming to help organizations mitigate cyber risks throughout their supply chain.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 11:12 am

SWK

Stanley Black & Decker projects its FY24 EPS to be $1.60-$2.85 on a GAAP basis and $3.50-$4.50 on an adjusted basis, with free cash flow expected between $0.6 billion and $0.8 billion. The guidance includes the impact of the Infrastructure divestiture expected to close by the end of Q1 2024 and charges from the Global Cost Reduction Program.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 11:10 am

DIS

PARA

Disney has reached a preliminary agreement to sell a 60% stake in its Indian media business to Viacom18, a deal that values the unit at $3.9 billion, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

February 01, 2024 | 9:46 am

AAPL

QCOM

SSNLF

Qualcomm Inc. (QCOM) has extended its deals with Apple Inc. (AAPL) and Samsung Electronics Co Ltd. (SSNLF), with the Apple modem deal now running through 2027. Qualcomm reported a 5% year-on-year revenue increase to $9.94 billion for the December 2023 quarter. The extensions highlight the challenges of fabricating high-quality chipsets and modems, as Apple's in-house 5G modem rollout has been delayed, and Samsung continues to use Qualcomm's Snapdragon chipsets for its flagship Galaxy smartphones.

Portfolio Pulse from Rounak Jain

February 01, 2024 | 9:41 am

LAD

Lithia & Driveway (LAD) has completed the acquisition of the UK motor and fleet management divisions of Pendragon PLC, which will be renamed Pinewood Technologies Group PLC. This move also establishes a strategic partnership with Pinewood Technologies.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 8:27 am