Streetbeat News

Acquisitions Mergers

SGRP

SPAR Group has announced the sale of its interests in its joint ventures in Australia and NMS. The company is looking to streamline its operations and focus on its more profitable ventures. This strategic move is aimed at improving SPAR Group's financial health and shareholder value.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 12:31 pm

TTE

TotalEnergies SE (NYSE:TTE) has signed an agreement to acquire additional interests in two Namibian oil discovery blocks from Impact Oil and Gas Namibia. The deal involves a 10.5% interest in block 2913B and a 9.39% interest in block 2912, with TotalEnergies planning to share this with QatarEnergy. The transaction costs $99 million and will increase TotalEnergies' stakes to 45.25% in block 2913B and 42.5% in block 2912, while Impact retains a 9.5% interest in each. The deal is subject to approvals and is a strategic move towards the development of the Venus discovery.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 11:58 am

TLRY

Tilray, Inc. has entered into an Assignment and Assumption Agreement with Double Diamond Holdings on January 9, as disclosed in their 8-K filing.

Portfolio Pulse from Charles Gross

January 10, 2024 | 11:20 am

LMT

Lockheed Martin Corporation (NYSE:LMT) and SpaceX are facing development challenges, causing NASA to delay its Artemis moon program to 2026. The first astronaut lunar landing in 50 years is now scheduled for September 2026, a year later than planned. The delays are due to issues with Orion's heat shield, spacecraft batteries, and electrical system. SpaceX still has to complete a list of tasks, including demonstrating the ability to dock and refuel with 'tanker' Starships in orbit. LMT shares are trading higher by 0.35% to $457.90 in premarket.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 11:12 am

LZM

Lifezone Metals Limited (NYSE:LZM) has completed funding for Phase 1 of a joint venture with Glencore plc's subsidiary for a platinum group metals recycling project. Both companies have contributed $1.5 million each for a pilot project in Perth, Australia, with Phase 1 expected to finish by the first half of 2024. The project utilizes Lifezone Metals' Hydromet technology and aims to construct a commercial-scale PGM recycling facility in the US following the pilot's success.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 11:05 am

KBR

KBR, Inc. has secured a contract to provide technology licensing and proprietary engineering design for a new 1.1 million tonnes per annum ammonia plant on the US Gulf Coast. The plant is designed to capture carbon, thereby reducing its carbon footprint, while also aiming to maximize yields.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 11:04 am

DISH

SATS

EchoStar Corporation has completed a merger with DISH Network Corporation, combining DISH's satellite technology, streaming services, and 5G network with EchoStar's satellite communications solutions to create a leader in wireless connectivity.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 11:02 am

HPE

JNPR

Hewlett Packard Enterprise Co (HPE) has agreed to acquire Juniper Networks Inc (JNPR) for $40.00 per share in an all-cash deal valued at approximately $14 billion. The offer is a 32% premium over JNPR's stock price on January 8, 2024. The deal, expected to close between late 2024 and early 2025, is subject to regulatory and shareholder approvals. Post-acquisition, Juniper CEO Rami Rahim will head HPE's networking business. The acquisition is expected to be accretive to HPE's non-GAAP EPS and free cash flow in the first year, with $450 million in cost synergies within 36 months. HPE's shares fell by 8.92%, while JNPR's shares surged by 21.81% following the news.

Portfolio Pulse from Lekha Gupta

January 10, 2024 | 10:26 am

VTLE

Vital Energy exceeded its Q4 production guidance with an average of 113.4 MBOE/d, surpassing the expected range of 101.8 - 105.8 MBOE/d. Oil production also topped guidance at 52.8 MBO/d against the forecasted 47.9 - 50.9 MBO/d. This performance boost was attributed to well outperformance in Howard and Upton counties, earlier transaction closings, and additional working interest acquisitions. Q4 capital expenditures were $190 million, aligning with the projected $175 - $190 million.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:15 am

AAPL

SONO

Saori Casey, a former Apple Inc. executive, is set to become the CFO of Sonos Inc., replacing Eddie Lazarus who will become the chief strategy officer. Casey's extensive experience at Apple, where she managed financial planning and investor relations, is expected to benefit Sonos as it expands into new markets like headphones. This appointment follows a trend of executive departures from Apple, with other notable figures like Tang Tan and Steve Hotelling also leaving the company.

Portfolio Pulse from Ananya Gairola

January 10, 2024 | 1:50 am