Streetbeat News

Acquisitions Mergers

ALK

GTLB

JOAN

SAIC

UBER

U.S. stock futures are trading lower on Monday, with key stocks in focus including SAIC expected to report earnings, Alaska Air's acquisition of Hawaiian Holdings, JOANN's expected quarterly loss, Uber joining the S&P 500, and GitLab's upcoming earnings report.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 7:37 am

IZEA

IZEA has fully acquired Hoozu Holdings Limited, an Australian influencer marketing company. The acquisition includes a mix of cash and stock, with additional deferred payments based on KPI performance. Hoozu has shown growth and profitability from 2022 to 2023. IZEA plans to invest in expanding sales personnel and capabilities to further Hoozu's growth.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 6:36 am

AAPL

Apple Inc. has ended its financial services partnership with Goldman Sachs Group Inc. Bloomberg's Mark Gurman suggests that Chase Bank, a part of JP Morgan Chase & Co., could be a suitable new partner for Apple. Chase already has a significant relationship with Apple, including managing its cash reserves, partnering for Apple Pay, and offering discounts on Apple products. The dissolution of the Apple-Goldman Sachs partnership, which began in 2019 with the Apple Card, follows issues such as delays, financial losses, and customer service problems, leading to billions in losses for Goldman Sachs.

Portfolio Pulse from Ananya Gairola

December 04, 2023 | 3:00 am

ALK

Alaska Air (NYSE:ALK) plans to acquire Hawaiian Airlines (NASDAQ:HA) for $1.9 billion, retaining both brands and aiming to enhance customer options and competition against major airlines. The CEOs of both companies are optimistic about the deal's benefits for investments and market competition.

Portfolio Pulse from Benzinga Neuro

December 03, 2023 | 8:13 pm

ALK

Alaska Air Group has announced its intention to acquire Hawaiian Airlines for $18 per share in an all-cash transaction. This acquisition is expected to have significant implications for both companies involved.

Portfolio Pulse from Benzinga Newsdesk

December 03, 2023 | 7:15 pm

TSLA

Chinese EVs are gaining global popularity but face significant trade barriers in the U.S. due to a 25% tariff and exclusion from 'Buy America' credits. Despite this, China's automotive industry is growing, with BYD outproducing Tesla last year. U.S. lawmakers advocate for more tariffs, while U.S. automakers like Ford and GM are wary of potential Chinese retaliation. Chinese firms plan to assemble EVs in or near the U.S. to avoid tariffs, with Polestar starting production in South Carolina next year.

Portfolio Pulse from Bibhu Pattnaik

December 03, 2023 | 2:59 pm

AAPL

Apple Inc. (AAPL) is reportedly ending its credit card partnership with Goldman Sachs Group (GS) within 12-15 months. Apple faced security issues with an Apple ID hack affecting iCloud access. The company is also developing a budget-friendly version of its Vision Pro headset, aiming to cut production costs by 50%. A YouTuber built a discount Vision Pro, challenging the value of Apple's version. Apple celebrated 'Artist of the Year' Taylor Swift with a free event in NYC.

Portfolio Pulse from Benzinga Neuro

December 03, 2023 | 10:44 am

AAPL

JNJ

PSX

SCHW

UBER

Barron's weekend stock picks include Uber joining the S&P 500, Elliott Management's stake in Phillips 66, Schwab's rebound, Apple's December performance, and UBS's upgrade of Johnson & Johnson. Uber's inclusion in the S&P 500 reflects its recent profitability. Elliott Management's $1 billion stake in Phillips 66 could lead to a 75% stock increase. Schwab's stock rose 12% with a positive outlook from analysts. Apple may see a better December due to high holiday expectations and improved supply. Johnson & Johnson was upgraded to 'Buy' by UBS, with a positive outlook on its businesses.

Portfolio Pulse from Justin Chan

December 02, 2023 | 10:29 pm

Boeing Company (NYSE:BA) has been excluded from the U.S. Air Force's competition to develop the E-4B Nightwatch successor, known as the 'Doomsday Plane'. The exclusion was due to disagreements over data rights and contract terms, specifically Boeing's reluctance to accept a fixed-price contract. This leaves Sierra Nevada Corp as the only known contender for the Survivable Airborne Operations Center (SAOC) contract. Boeing's defense unit has faced significant losses on fixed-price development programs, totaling $16.3 billion since 2014. Boeing's stock saw a slight increase on Friday despite the news.

Portfolio Pulse from Nabaparna Bhattacharya

December 02, 2023 | 9:37 pm

FTCH

JPM

Point72 Asset Management, led by Steven A. Cohen, has acquired a 5.1% stake in Farfetch (NYSE:FTCH), a luxury fashion company. The SEC filing revealed Point72 owns 18,132,807 Class A Ordinary Shares. Farfetch's founder, José Neves, is considering taking the company private with the help of JP Morgan Chase & Co. (NYSE:JPM), controlling 15% of the stake and 77% of the voting rights. Farfetch has postponed its Q3 financial results and guidance, with shares closing higher by 9.4% but trading lower by 0.78% after hours.

Portfolio Pulse from Nabaparna Bhattacharya

December 02, 2023 | 3:57 pm