Streetbeat News

Acquisitions Mergers

VFS

VinFast Auto Ltd (NASDAQ:VFS) is set to open a new EV battery plant in Thoothukudi, Tamil Nadu, India. This move is separate from its previous plans to assemble vehicles from parts shipped from Vietnam. The plant will produce batteries for EVs, indicating VinFast's expansion in the Indian market. Investment details and timelines are not provided. VinFast also has plans for assembly factories in India and Indonesia, with a $200 million capital expenditure for each. Green SM, associated with VinFast's founder, aims to establish operations in India. VFS shares saw a slight decrease of 0.02% to $7.05.

Portfolio Pulse from Shivani Kumaresan

January 03, 2024 | 3:03 pm

DSNKY

ESPR

Esperion Therapeutics, Inc. (NASDAQ:ESPR) shares dropped after announcing a $125 million amendment to its collaboration with Daiichi Sankyo Europe GmbH. The amendment includes a $100 million payment to Esperion in mid-January and an additional $25 million following EMA's decision on NILEMDO and NUSTENDI. The legal action in the U.S. will be dismissed, and DSE will control EMA regulatory communications for the drugs.

Portfolio Pulse from Nabaparna Bhattacharya

January 03, 2024 | 2:47 pm

KKR

WBA

BrightSpring Health Services, backed by KKR & Co Inc (KKR), has filed for an IPO to pay off its $3.5 billion debt. The healthcare services provider reported a 12.2% revenue increase to $6.451 billion but a net loss of $(148.1) million in the nine months ending September 2023. Walgreens Boots Alliance, Inc. (WBA) holds a stake in BrightSpring. The IPO had been postponed from 2021 due to economic uncertainty.

Portfolio Pulse from Lekha Gupta

January 03, 2024 | 2:35 pm

S

SentinelOne Inc (NYSE:S) shares dropped after announcing the acquisition of PingSafe, a cloud native application protection platform. The deal, a mix of cash and stock, aims to enhance SentinelOne's integrated security platform with better coverage, hygiene, and automation for cloud security. The acquisition is expected to close in the first quarter of SentinelOne's fiscal 2025. SentinelOne's stock fell 3.36% to $25 following the news.

Portfolio Pulse from Adam Eckert

January 03, 2024 | 2:31 pm

GS

PYPL

TDG

XLF

On CNBC's 'Halftime Report Final Trades,' analysts provided their final trades with positive outlooks on TransDigm Group (TDG), Goldman Sachs (GS), and the Financial Select Sector SPDR Fund (XLF). TransDigm Group recently agreed to acquire the Electron Device Business of Communications & Power Industries for $1.385 billion. Goldman Sachs received an Overweight rating from Barclays with a raised price target. PayPal (PYPL) was also mentioned positively, despite Amazon's decision to stop accepting Venmo for subscriptions. The financial sector saw gains, with TDG, GS, and XLF shares rising, while PayPal shares closed slightly higher.

Portfolio Pulse from Avi Kapoor

January 03, 2024 | 2:22 pm

VFF

Village Farms International, Inc. (NASDAQ:VFF) has made its first shipment of cannabis brands Pure Sunfarms and Original Fraser Valley Weed Co. to the UK, distributed by 4C LABS. The launch includes three popular strains and marks Village Farms' entry into the UK market, adding to its presence in Germany, Australia, and Israel. The company's CEO, Michael DeGiglio, highlighted the significance of reaching global medical cannabis markets. In 2021, Village Farms acquired an 80% stake in Leli Holland B.V. in the Netherlands and debuted in Germany earlier this year through a partnership. Analyst firm Zuanic & Associates initiated coverage on Village Farms with an 'Overweight' rating. VFF shares traded slightly lower at $0.7601 after market close on Tuesday.

Portfolio Pulse from Jelena Martinovic

January 03, 2024 | 2:18 pm

AMZN

GOOGL

META

Saudi Arabia's Public Investment Fund (PIF) has become the top global sovereign wealth fund spender in 2023, with $31.6 billion in deals, outspending Singapore's GIC. PIF's investments are part of Vision 2030, aiming to diversify the Saudi economy beyond oil. The fund has stakes in tech giants like Amazon, Alphabet, and Meta, and has expanded into foreign investments and sports ventures, raising security concerns in the U.S. Senate.

Portfolio Pulse from Benzinga Neuro

January 03, 2024 | 2:18 pm

BLMN

DRI

Bloomin' Brands, Inc (BLMN) has reached a cooperation agreement with Starboard Value LP, which holds about 9.7% of BLMN's common stock. As part of the agreement, BLMN appointed two new directors: Dave George, former COO of Darden Restaurants Inc (DRI), and Jon Sagal, Partner at Starboard. Additionally, BLMN formed an operating committee to identify opportunities for improvement. BLMN shares dropped 2.98% to close at $27.31.

Portfolio Pulse from Shivani Kumaresan

January 03, 2024 | 2:02 pm

DBRG

INTC

Intel Corp. and DigitalBridge Group, Inc. have announced the formation of Articul8 AI, Inc., a company providing a secure generative AI software platform for enterprises. Articul8, created with Intel's IP and technology, offers a full-stack GenAI platform with deployment options including cloud, on-prem, or hybrid. Intel and DigitalBridge, along with other investors, have taken equity stakes in Articul8. The platform is optimized on Intel hardware and has been deployed at Boston Consulting Group and other enterprise customers.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 1:47 pm