Streetbeat News

Acquisitions Mergers

BRK.A

BRK.B

Charlie Munger and Warren Buffett's final deal did not materialize despite Berkshire Hathaway's substantial cash reserves of nearly $160 billion. Munger, the late vice chairman, remained optimistic about the company's ability to make a significant acquisition, known as the 'elephant' deal. Berkshire Hathaway has made sizeable purchases in the past but has not secured a deal matching the scale Buffett and Munger sought. The responsibility for such a transaction may pass to the next generation of leaders. Berkshire Hathaway's shares closed slightly higher on Thursday.

Portfolio Pulse from Benzinga Neuro

December 01, 2023 | 3:28 am

CLSK

PATH

SMCI

TSLA

ULTA

The stock market had mixed results with the S&P 500 up, Nasdaq down, and the Dow Jones gaining. Super Micro Computer (SMCI) fell after announcing a public offering. CleanSpark (CLSK) dropped post-earnings report. Tesla (TSLA) declined around its Cybertruck event. UiPath (PATH) slightly fell, with focus on its Q3 earnings and AI investment. Ulta Beauty (ULTA) rose after positive Q3 earnings and sales trends.

Portfolio Pulse from Benzinga Neuro

December 01, 2023 | 3:19 am

NVDA

Huawei Technologies Co. is reportedly becoming a central figure in China's strategy to create an independent chip ecosystem, as revealed by a Bloomberg report. The Chinese government is covertly supporting Huawei to be the main chip designer and client for manufacturers, while also providing technical and financial assistance to smaller firms in the chip supply chain. Despite Huawei's denial of government aid for semiconductor technology, anonymous sources claim the government's top levels have chosen Huawei to lead the country's chip industry self-sufficiency efforts. This comes as countries, including the U.S., strive for semiconductor independence, highlighted by NVIDIA CEO Jensen Huang's comment on the U.S.'s long road to chip manufacturing autonomy.

Portfolio Pulse from Ananya Gairola

December 01, 2023 | 2:22 am

BCE

Bell has acquired 3800 MHz licenses in a Canadian auction, which could potentially enhance their telecommunications infrastructure and service offerings. BCE Inc. (BCE), the parent company of Bell, may be impacted by this news.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:42 pm

POLA

Polar Power (symbol: POLA) has announced its intention to sell shares of its common stock in an underwritten public offering. The net proceeds from the offering are planned to be used for product development, general corporate purposes, working capital, capital expenditures, operational purposes, and potential acquisitions in complementary businesses.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:26 pm

NVRO

Nevro Corp. has acquired Vyrsa Technologies, a private medical technology company specializing in minimally invasive treatment for chronic sacroiliac joint pain. Nevro paid $40 million at closing and may pay up to an additional $35 million in cash or stock, contingent on achieving certain milestones.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:22 pm

RCI

Rogers Communications has successfully acquired 3800 MHz spectrum in Canada's third 5G auction, enhancing its 5G capabilities. This acquisition is expected to bolster Rogers' network infrastructure and improve its competitive position in the Canadian telecommunications market.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 9:43 pm

SUAC

ShoulderUp Technology Acquisition Corp. (SUAC) has announced a non-binding letter of intent to potentially merge with a private information technology company. They aim to finalize a definitive agreement by the end of the next year's first quarter, but there is no guarantee that the agreement will be reached or the merger completed. A previously disclosed letter of intent has been terminated.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 9:33 pm

AN

AutoNation, Inc. (NYSE:AN) has rebranded RepairSmith by AutoNation to AutoNation Mobile Service following its acquisition earlier this year. The service offers on-site vehicle care by certified TechXperts, providing convenience and a range of benefits such as Upfront Service Pricing and a Repair Guarantee. It caters to individual customers, fleet operators, car rental agencies, and dealership partners, aiming to enhance its After-Sales business and customer service experience.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 9:29 pm

LAKE

Lakeland Industries, Inc. (NASDAQ:LAKE) has acquired New Zealand-based Pacific Helmets NZ Limited for approximately $8.5 million in an all-cash deal. Pacific Helmets, a leading designer and manufacturer of safety helmets for various firefighting and rescue markets, will add $7-8 million in sales revenue to Lakeland's next fiscal year and is expected to be immediately accretive. The acquisition expands Lakeland's global fire services portfolio and presents cross-selling opportunities through Lakeland's sales and distribution channels.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 9:26 pm