Streetbeat News

Acquisitions Mergers

LSEA

Landsea Homes Corp (NASDAQ:LSEA) has agreed to acquire Antares Homes for $232.2 million in cash, including the repayment of $47.2 million of Antares debt. This acquisition will expand Landsea's presence in the Dallas-Fort Worth area. The deal is expected to close in early February 2024, with Antares employees joining Landsea post-transaction. Landsea plans to fund the purchase with cash and credit facility borrowings. As of September 30, 2023, Landsea had $389.4 million in total liquidity. LSEA shares dropped 2.30% to $12.30 recently.

Portfolio Pulse from Shivani Kumaresan

January 09, 2024 | 4:06 pm

AYI

HPE

JNPR

URBN

Acuity Brands, Inc. (AYI) reported Q1 FY24 earnings with a slight miss in net sales but an adjusted EPS that beat consensus, causing its shares to rise by 10.2%. Other stocks also moved higher, including Juniper Networks (JNPR) on acquisition talks with Hewlett Packard Enterprise (HPE), and Urban Outfitters (URBN) after reporting a sales increase. Various companies like Accolade (ACCD), Century Aluminum (CENX), and Illumina (ILMN) saw stock gains following positive financial updates or analyst upgrades.

Portfolio Pulse from Avi Kapoor

January 09, 2024 | 3:59 pm

HPE

JNPR

Hewlett Packard Enterprise Co (HPE) is reportedly in advanced talks to acquire Juniper Networks Inc (JNPR) for approximately $13 billion, aiming to enhance its position in the AI market. A deal could be announced soon. JNPR shares rose over 22%, while HPE shares fell 8.47% at the time of the report.

Portfolio Pulse from Adam Eckert

January 09, 2024 | 3:09 pm

IEX

Artemis, an Industrial Tech Private Equity firm, has sold its portfolio company STC Material Solutions to IDEX Corporation (NYSE:IEX). STC, an advanced materials manufacturer, has seen significant growth in Aerospace, Defense, Medical, and Semiconductor markets under Artemis' ownership since October 2018. The financial terms of the sale were not disclosed. Houlihan Lockey served as the financial advisor and Morgan Lewis as the legal advisor for the transaction.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 2:48 pm

DIS

SONY

Zee Entertainment Enterprises has reaffirmed its commitment to a $10 billion merger with Sony Group Corp's Indian arm, despite rumors of the deal's potential collapse. The speculation was based on disagreements over Zee CEO's role and a regulatory probe. The merger is crucial as Zee faces financial challenges, including a missed payment to Disney's India unit for cricket TV rights. Sony shares closed up 1.29% at $92.40.

Portfolio Pulse from Shivani Kumaresan

January 09, 2024 | 2:31 pm

HPE

JNPR

Juniper Networks' stock is trading higher on reports that Hewlett Packard Enterprise is close to finalizing a deal to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 2:25 pm

HPE

Hewlett Packard Enterprise (HPE) shares are trading lower after reports surfaced about the company being close to finalizing an acquisition deal with Juniper Networks.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 2:24 pm

MSFT

The European Union (EU) is scrutinizing Microsoft Corporation's (NASDAQ:MSFT) investment in OpenAI, which could be subject to EU merger regulations. Microsoft invested over $10 billion in OpenAI, gaining a non-voting board position but no ownership stake. The EU is also examining contracts between digital market players and AI developers to assess market impact. Feedback on competition in virtual worlds and generative AI is being sought until Mar. 11. This follows the UK's CMA considering a merger probe into the partnership in December 2023.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 2:14 pm

BA

DAL

EADSY

Airbus SE has secured a firm order from EVA Air for 18 A350-1000s and 15 A321neos, previously valued at up to $10.1 billion. This comes amid Boeing's quality control issues, with several jets grounded. Airbus is also close to finalizing a deal with Delta Air Lines for additional widebody aircraft, potentially to be announced alongside Delta's Q4 earnings report. Airbus' A350 Family has over 1,000 firm orders, and the new aircraft align with EVA Air's sustainability goals. Airbus shares (EADSY) closed up 3.52% on Monday.

Portfolio Pulse from Nabaparna Bhattacharya

January 09, 2024 | 1:59 pm

TLRY

Tilray Brands, Inc. reported a 34% YoY revenue increase in Q2 fiscal 2024, reaching $194 million. The growth was driven by a 35% increase in cannabis net revenue, a 117% increase in beverage alcohol net revenue, and a rise in distribution net revenue. Gross profit rose 11% to $47 million, and adjusted EBITDA was positive at $10.1 million. The company reduced its net loss and continued to expand its business, including medical cannabis in Europe and the craft beverage-alcohol market in the U.S. Shares of Tilray traded 5.56% higher at $2.47 in pre-market.

Portfolio Pulse from Jelena Martinovic

January 09, 2024 | 1:54 pm