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Acquisitions Mergers

DOCU

According to a Wall Street Journal report, DocuSign, a company specializing in e-signatures, is currently exploring a potential deal. The details of the deal, including the nature of the transaction or the parties involved, have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 7:15 pm

CPE

Callon Petroleum Company (CPE), a Permian Basin oil explorer, is considering strategic options after receiving interest from potential buyers, according to a Bloomberg report. The company is exploring possibilities including a sale or merger, as it has attracted attention from suitors due to its attractive assets in the Permian region.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 7:05 pm

DOCU

According to the Wall Street Journal, DocuSign is exploring a potential deal. The company has a market value of approximately $11 billion.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 6:43 pm

C

Citigroup, Inc. (NYSE:C) is planning to separate its Mexican retail unit Banamex from its corporate and investment banking business in Mexico by the second half of 2024. Banamex is expected to go public in 2025. Earlier, Citi halted a $7 billion sale of Banamex, surprising investors. Negotiations with Grupo Mexico were discontinued due to the Mexican government's involvement in Grupo Mexico's activities and specific sale demands. Citi is considering a dual stock listing in Mexico and New York.

Portfolio Pulse from Nabaparna Bhattacharya

December 15, 2023 | 6:34 pm

PFE

Pfizer, Inc. (NYSE:PFE) shares are trading higher on Friday after the company announced an increase in its quarterly cash dividend from 41 cents to 42 cents per share, payable on March 1 to stockholders of record as of January 26. Despite the uptick, the stock is still down over 11% in the past five days and over 47% year-to-date. Pfizer also completed its acquisition of Seagen for approximately $43 billion. Analysts from Barclays, UBS, and Truist Securities have lowered their price targets on Pfizer this week. The stock is currently trading above its 50-day moving average but well below its 52-week high.

Portfolio Pulse from Erica Kollmann

December 15, 2023 | 6:31 pm

DIS

Bob Iger's self-evaluation from 2019 highlights his successful tenure as Disney's CEO, including a rising share price, blockbuster films, and strategic acquisitions. The document surfaced during a court case over equal pay at Disney. Despite past achievements, Disney (NYSE:DIS) faces challenges in 2023 with share prices hitting nine-year lows and internal struggles, including a feud with Elon Musk and activist investor Nelson Peltz. Peltz's Trian is pushing for board changes, while Disney's box office performance has weakened compared to 2019's record-breaking year. Iger, who returned as CEO in 2022, has a contract through 2026 and aims to navigate the company through these turbulent times.

Portfolio Pulse from Chris Katje

December 15, 2023 | 6:26 pm

EADSY

Airbus SE (OTC:EADSY) has secured a significant order from Turkish Airlines for 220 aircraft, including 150 A321s and 70 A350s. This deal increases Turkish Airlines' total Airbus order to 504 planes, with 212 already delivered. Airbus has also been in advanced talks with Atos regarding its cybersecurity division BDS. In November, Airbus delivered 64 aircraft, totaling 623 deliveries for the year. EADSY shares closed down 1.26% at $38.50.

Portfolio Pulse from Nabaparna Bhattacharya

December 15, 2023 | 5:32 pm

AADI

BATL

BRSH

COST

EOSE

GETR

INHD

U.S. stocks traded higher, with the Dow up 0.11%, NASDAQ up 0.45%, and S&P 500 up 0.06%. Information technology shares led gains, while utilities fell. Darden Restaurants Inc (NASDAQ: COST) reported Q2 sales growth of 9.7% year-on-year to $2.727 billion, slightly missing estimates, but adjusted EPS of $1.84 beat estimates. Getaround Inc (NYSE: GETR), Battalion Oil Corp (NYSE: BATL), and Bruush Oral Care Inc (NASDAQ: BRSH) saw significant share price increases following positive news. Aadi Bioscience Inc (NASDAQ: AADI), Inno Holdings Inc (NASDAQ: INHD), and Eos Energy Enterprises Inc (NASDAQ: EOSE) experienced sharp declines in share price due to negative reports or public offerings.

Portfolio Pulse from Avi Kapoor

December 15, 2023 | 5:25 pm

FOX

PUMSY

UL

PUMA SE (OTC:PUMSY) is ending its sponsorship of Israel's national soccer team after 2024, citing business reasons and a 'fewer-bigger-better strategy', not due to boycotts or the Middle East conflict. The BDS movement claims credit for the end of the sponsorship, which began facing boycotts in 2018. Puma also plans to end its partnership with Serbia's team after 2024 and will evaluate other partnerships. The news comes as Israel competes for a spot in Euro 2024, with Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA) holding U.S. TV rights. Puma is a major player in soccer, sponsoring top players and clubs, and was the third-largest sponsor at the 2022 World Cup. Unilever PLC (NYSE:UL), through its brand Ben & Jerry's, faced similar BDS pressure, leading to a halt in sales in the West Bank.

Portfolio Pulse from Chris Katje

December 15, 2023 | 5:07 pm

NIO

TSLA

Shares of Chinese EV company NIO Inc. (NYSE:NIO) are on the rise following the announcement that it plans to launch its Firefly brand in Europe by 2025. The brand will focus on smaller, family-oriented vehicles. Despite not disclosing pricing details, the expansion into Europe comes as Chinese EV makers seek new markets amid slowing domestic demand and competition from Western manufacturers. The European Union is scrutinizing Chinese EV imports for potential competition rule violations. NIO faces increasing losses due to a price war with Tesla, Inc. (NASDAQ:TSLA) and has cut its workforce by 10% and is considering division separations and partnerships to finance initiatives like battery swapping. NIO's stock price increased by 1.17% to $7.95.

Portfolio Pulse from Nabaparna Bhattacharya

December 15, 2023 | 4:52 pm