Streetbeat News

Acquisitions Mergers

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla Inc (NASDAQ:TSLA) investor, criticized the potential integration of Elon Musk's Grok AI into Tesla vehicles. He believes it's a conflict of interest for Tesla shareholders if they don't own the AI OS on Tesla cars, suggesting instead that Tesla should develop its own Large Language Model (LLM) using its resources and AI team. Musk has previously hinted at a partnership between Tesla and his AI startup, xAI, to integrate Grok AI into Tesla cars.

Portfolio Pulse from Anan Ashraf

January 12, 2024 | 12:23 pm

STWD

Starwood Property Trust, through a controlled affiliate, has acquired a portfolio of 10 hotels from Edwardian Group. The acquisition was made via an off-market transaction, and the financial details were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 12:13 pm

EFC

HYW

Ellington Financial Inc. (EFC) and Hywin Holdings Ltd. (HYW) are identified as oversold financial stocks with RSIs of 29.54 and 6.13, respectively. EFC recently saw a 3% decline over the past month after a merger approval with Arlington Asset Investment, while HYW dropped about 77% after announcing a strategic partnership with Tencent Cloud. Both stocks are considered potential buys for their undervalued status.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 12:03 pm

BLK

BlackRock has agreed to acquire Global Infrastructure Partners for a total consideration of $3 billion in cash and approximately 12 million shares of BlackRock common stock.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 11:03 am

BLK

Blackrock has agreed to acquire Global Infrastructure Partners for a total consideration of $3 billion in cash and 12 million shares of Blackrock common stock. This strategic move will expand Blackrock's capabilities and offerings in the infrastructure investment space.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 11:01 am

STLA

Stellantis N.V. (NYSE:STLA) has invested in Tiamat, a French developer of sodium-ion battery technology, through its venture fund, Stellantis Ventures. This investment aligns with Stellantis' Dare Forward 2030 strategic plan, aiming for carbon net zero by 2038 and a significant shift to electric vehicles (EVs) with a 100% BEV sales mix in Europe and 50% in the US by 2030. Stellantis is also securing 400 GWh of battery capacity and has previously partnered with Ample for a Modular Battery Swapping solution and announced plans to increase vehicle production in Italy.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 10:58 am

UNH

UnitedHealth has reaffirmed its 2024 performance objectives that were set during its Investor Conference on November 29, excluding any potential impacts from the pending sale of its operations in Brazil.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 10:58 am

IFF

International Flavors & Fragrances Inc (NYSE:IFF) shares rose after announcing a new CEO, J. Erik Fyrwald, and reaffirming FY23 guidance. Fyrwald, former CEO of Syngenta, will succeed Frank Clyburn on February 6, 2024. The company expects FY23 sales of $11.3-$11.6 billion and adjusted operating EBITDA at the mid to high end of $1.85-$2.0 billion. IFF sold its Cosmetic Ingredients business for $810 million, expected to close in Q1 2024, and is progressing with further divestitures. IFF also continues its cooperation with Icahn Capital, planning to renominate directors for the 2024 proxy season.

Portfolio Pulse from Lekha Gupta

January 12, 2024 | 10:41 am

BRRR

BTF

WGMI

Coinshares has exercised an option to acquire Valkyrie Funds, which will add approximately $110 million to Coinshares' current AUM of $4.5 billion. The acquisition includes Valkyrie's ETF products: BRRR, BTF, and WGMI.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 10:13 am

TCEHY

The Federated Hermes Asia Ex-Japan Equity Fund has bought shares of Tencent Holdings Ltd. (OTC:TCEHY) despite China's regulatory challenges, citing attractive valuations. The fund, which has outperformed most peers, is optimistic about the Chinese market. Tencent's market value dropped significantly due to new gaming regulations, but the fund sees the current low share price as an opportunity. The fund also prefers Samsung Electronics over Taiwan Semiconductor Manufacturing Co. (TSMC) due to expected cyclical downturns for TSMC and a potential earnings recovery for Samsung.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 9:19 am