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Acquisitions Mergers

SPEC

Spectaire Holdings Inc. (NASDAQ:SPEC) has expanded its strategic distribution agreement with MLab, a partner of Namoa Digital, to introduce the AireCore emissions measurement system to Brazil's trucking market. This move addresses Brazil's national emissions crisis and the enforcement of Proconve 8 standards, which align with Euro VI specifications. The AireCore system enables up to 70% emissions reductions, allowing companies with well-maintained trucks to profit from emissions management. Currently, Brazil has over 2 million heavy-duty diesel trucks, with only 850 being electric or natural gas-powered, a figure projected to reach only 1450 by 2030.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:03 pm

SMHI

SEACOR Marine has announced its intention to acquire four advanced energy storage systems from Kongsberg Maritime AS. These systems are state-of-the-art and represent a strategic investment in SEACOR Marine's capabilities in the energy sector.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 12:57 pm

M

Macy's, the iconic department store chain, may receive a takeover bid from private equity firm Sycamore Partners amidst declining sales and recent job cuts. The potential acquisition could signal a significant change in the company's operations and ownership structure.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 12:50 pm

ARAY

Accuray Incorporated announced that Providence Swedish Radiosurgery Center in Seattle is upgrading its cancer treatment capabilities by acquiring the new CyberKnife S7 System. This purchase reflects the center's commitment to providing advanced cancer treatment options.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 12:37 pm

BRKR

Bruker Corporation has entered into a definitive agreement to acquire Chemspeed Technologies, a Swiss company specializing in automated laboratory R&D and QC workflow solutions. The financial terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 12:09 pm

NOK

Nokia Corporation (NYSE:NOK) anticipates growth in its network infrastructure business in H2 2023, alongside a €600 million share buyback over two years. Despite a challenging 2023 with lower net income and revenue, and ongoing patent litigation, Nokia forecasts a 2024 adjusted operating profit of €2.3-2.9 billion. CEO Pekka Lundmark acknowledges the tough environment may continue into early 2024. Nokia recently settled a patent dispute with Oppo and is close to resolving another. However, shares have fallen 25% over the past year.

Portfolio Pulse from Ananya Gairola

January 25, 2024 | 12:09 pm

BW

Babcock & Wilcox Enterprises (BW) has secured contracts from Cypress Creek Renewables to construct three utility-scale photovoltaic solar power installations totaling 75 megawatts in Western Pennsylvania. This move signifies BW's expansion into the renewable energy sector and may positively influence investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 11:41 am

ASPI

USLM

X

Three materials sector stocks, United States Lime & Minerals, Inc. (USLM), United States Steel Corporation (X), and ASP Isotopes Inc. (ASPI), are considered overbought based on their RSI values, which could signal a potential short-term decline. USLM saw a 17% stock increase despite reduced demand in some sectors, X gained 90% following an acquisition announcement by Nippon Steel, and ASPI rose 31% after a corporate update.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 11:28 am

AAPL

NOK

SSNLF

Nokia Corp (NYSE:NOK) reported a significant decline in fiscal Q4 2023 net sales and earnings, missing consensus estimates. Sales dropped 23% Y/Y to €5.71 billion, and EPS was €(0.01), with a net loss of €(33) million. Despite major deals with Apple (NASDAQ:AAPL), Samsung (OTC:SSNLF), Honor, and OPPO, sales in various segments decreased. Nokia expects a challenging H1 2024 but projects growth in H2. The company proposed a dividend and initiated a buyback program. NOK shares rose 8.50% premarket.

Portfolio Pulse from Anusuya Lahiri

January 25, 2024 | 11:28 am

BANC

PACW

Banc of California reported a Q4 2023 GAAP loss of $4.55 per share compared to a profit of $0.50 per share in the previous year. Net interest income was $151.05M, down from $322.94M. The quarter included significant costs related to its merger with PacWest Bancorp, including losses on security sales, merger costs, an FDIC special assessment, and credit provision on acquired loans. Additional expenses were incurred from a borrowing facility, termination fees, the HOA business, and other nonrecurring expenses.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 11:16 am