Streetbeat News

Acquisitions Mergers

AXL

American Axle & Manufacturing Holdings, Inc. (AAM) is selling its commercial vehicle axle business in India to Bharat Forge Limited for $65 million. The transaction includes manufacturing facilities in Pune and Chennai, but excludes the Chakan facility and Pune Business Office.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 9:02 am

USAP

Universal Stainless is set to be acquired by Aperam in an all-cash deal valued at $45 per share, representing a 19% premium over the three-month volume-weighted average stock price. The acquisition will integrate Universal into Aperam, a leader in stainless and specialty steel solutions, while maintaining Universal's distinct U.S. identity.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 5:40 am

EXPE

TSLA

UBER

Uber Technologies Inc. is considering acquiring Expedia Group Inc. to expand its services into a 'super app' model, similar to Elon Musk's vision for X. The acquisition is still in early stages, with no formal approach made yet.

Portfolio Pulse from Ananya Gairola

October 17, 2024 | 3:40 am

CELU

Celularity has acquired Rebound, a placental-derived allograft matrix product, from Sequence LifeScience. The company expects Rebound sales to significantly contribute to its biomaterial sales in 2024.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 9:21 pm

IYR

VNQ

XLRE

Floyd Mayweather is investing $402 million in a 1,000-unit affordable housing portfolio in NYC, potentially benefiting from tax breaks. Real estate ETFs like IYR, VNQ, and XLRE saw gains following the news.

Portfolio Pulse from Anthony Noto

October 16, 2024 | 8:25 pm

ATNF

180 Life Sciences shares rose as the company announced plans to enter the online gaming industry using its newly acquired gaming technology platform.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 7:22 pm

DECA

SCLX

Scilex Holding Company (NASDAQ:SCLX) is exploring strategic options, including a potential spinoff or dividend distribution. The company is also considering listing its securities outside the U.S. Scilex has three FDA-approved products and a promising Phase 3 candidate, SEMDEXA, which could become a blockbuster treatment for sciatica. Alliance Global Partners initiated coverage with a Buy rating and a $14 price target. Scilex's stock rose 6.5% following the news.

Portfolio Pulse from Vandana Singh

October 16, 2024 | 7:07 pm

JNJ

Johnson & Johnson (JNJ) reported a Q3 adjusted EPS of $2.42, beating expectations despite a 9% decline year-over-year. Sales rose 5.2% to $22.47 billion. The company updated its 2024 EPS guidance, factoring in the V-Wave acquisition. BofA Securities maintains a Neutral rating with a $170 price target, noting strong performance in oncology and potential challenges in the MedTech segment due to market pressures and litigation uncertainties.

Portfolio Pulse from Vandana Singh

October 16, 2024 | 6:31 pm

MSFT

Microsoft has ended its $1 Game Pass trial ahead of the Call of Duty: Black Ops 6 launch, which will be available on Game Pass. This strategic move aims to boost subscriptions but may impact traditional game sales. The decision follows Microsoft's acquisition of Activision Blizzard.

Portfolio Pulse from Franca Quarneti

October 16, 2024 | 6:21 pm

BHP

BHP's chief executive's recent trip to South Africa has reignited speculation about a potential bid for Anglo American. This follows previous rumors and highlights BHP's interest in expanding its operations.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 5:23 pm