Streetbeat News

Acquisitions Mergers

AAPL

FSR

GOOGL

LCID

NVDA

RIVN

TSLA

Tesla's Bitcoin reserves remain at $184M without buying or selling in Q4. Apple outperforms Huawei in China despite competition and ban. NVIDIA introduces AI-powered video and new GPU. Apple's iOS 17.3 allows pronoun sharing, and its headset exceeds sales expectations. Tesla reports downbeat results affecting EV stocks like Rivian, Lucid, and Fisker. Google's Alphabet dodges a $1.67B lawsuit. Tesla acknowledges EV adoption issues but won't increase ad spend. Elon Musk discusses regulations and Optimus bot deployment.

Portfolio Pulse from Akanksha Bakshi

January 25, 2024 | 1:54 pm

LVMHF

LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMHF) is set to report Q4 and full year 2023 earnings amidst a 30% decline from its 2023 highs. Concerns over the Chinese luxury market and normalization of growth post-pandemic have impacted the stock. Telsey Group maintains an Outperform rating with a $980 price target. LVMH's diversified portfolio and strategic moves, including acquisitions and executive appointments, are highlighted. The company expects growth in various segments, with Fashion and Leather Goods leading. LVMHF closed at $747.47 in the US and €683.40 in Paris.

Portfolio Pulse from Surbhi Jain

January 25, 2024 | 1:42 pm

WINT

Windtree Therapeutics, Inc. (WINT) has reached an agreement with Deerfield Management Company to eliminate a $15M contingent liability related to milestone payments for AEROSURF®. In return, Windtree will issue 608,272 shares of common stock and make two $100,000 cash payments to Deerfield. The company believes this strengthens its financial position and simplifies its balance sheet. Windtree's lead asset, istaroxime, is in clinical trials for cardiogenic shock and acute heart failure, with a new license agreement with Lee's Pharmaceuticals.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:40 pm

ESAC

ESGEN Acquisition Corp. (ESAC) and Sunergy Renewables have announced updated terms for their pending business combination. The revised terms include a commitment from ESGEN's sponsor to purchase up to $15 million in Convertible Preferred Equity Securities, with $10 million funded at closing and an option for an additional $5 million within six months. The pro forma implied enterprise value of the combined company is $390 million. Energy Spectrum will fund the purchase and has increased its original commitment. The transaction is expected to close in the first half of 2024 and is subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:39 pm

ZNH

China has given Boeing Co (NYSE:BA) approval to resume deliveries of its 737 MAX 8 aircraft to Chinese customers, ending a two-year suspension. The first 737 MAX 8, registered to China Southern Airlines (NYSE:ZNH), is currently grounded in Hawaii. This comes as Boeing faces FAA restrictions on expanding production of its narrowbody planes due to a recent cabin panel blowout incident on a 737 MAX 9 jet operated by Alaska Airlines. The resumption of deliveries in China could help Boeing amid its operational challenges and ongoing US scrutiny.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 1:38 pm

APO

BABA

SLB

On CNBC's 'Halftime Report Final Trades,' analysts discussed Alibaba Group (BABA), Blackstone (BX), Apollo Global Management (APO), and Schlumberger (SLB). Alibaba appointed a new acting CEO for Daraz Group amid a management reshuffle. Blackstone is set to release quarterly earnings with analysts expecting a slight decrease in EPS compared to the previous year. Apollo received a price target increase from Morgan Stanley, and Schlumberger reported a revenue increase in Q4 fiscal 2023, beating consensus estimates. All mentioned stocks saw gains in their recent trading sessions.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 1:37 pm

ROP

Roper Technologies has agreed to acquire Procare Solutions, a provider of child care management software, for approximately $1.75 billion. The deal includes a $110 million tax benefit for Roper Technologies resulting from the transaction.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:32 pm

NVEE

NV5 Global, Inc. has acquired CHW Professional Consultants, a provider of professional and technical consulting services. The terms of the acquisition were not disclosed. This strategic move is expected to enhance NV5's service offerings and market reach.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:16 pm

STRR

Star Equity Holdings, Inc. (NASDAQ: STRR) has announced a sale-leaseback transaction for its South Paris, Maine facility for $5.935 million. The facility will be leased back to KBS Builders, Inc., a wholly owned subsidiary of Star, for 20 years with an option to extend. The transaction is expected to close in Q1 2024 and is aimed at unlocking value for Star, allowing the company to reinvest in EBITDA-generating assets and acquisitions. The transaction will not affect KBS's operations.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:13 pm

LBAI

PFS

Lakeland Bancorp and Provident Financial have mutually agreed to extend the deadline for their merger until March 31. This extension indicates that both parties are still working towards finalizing the merger but need additional time to complete the process.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:11 pm