Streetbeat News

Acquisitions Mergers

ARES

LBO

USSE

Ares Management Corporation (NYSE:ARES) is acquiring GCP International for $3.7 billion, aiming to double its real estate assets under management. The deal involves cash and Ares shares, and is expected to close in the first half of 2025. Ares shares fell 3.15% following the announcement.

Portfolio Pulse from Lekha Gupta

October 08, 2024 | 4:09 pm

GOOG

GOOGL

Geoffrey Hinton, known as the 'Godfather of AI,' and John Hopfield have won the Nobel Prize in Physics for their foundational work in AI and deep learning. Hinton's company, DNNresearch, was acquired by Google, a unit of Alphabet Inc. This recognition could bolster AI's position as a growth sector.

Portfolio Pulse from Chris Katje

October 08, 2024 | 3:41 pm

MSOS

Aaron Grey, Managing Director of Equity Research Consumer & Cannabis, suggests that companies in his coverage could see an upward impact of up to $150M. This benefit, which could address debt, will stem from M&A or capital expenditures, depending on how proceeds are used.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 3:38 pm

PYPL

RKT

Rocket Companies has appointed Papanii Okai, former Venmo CTO, as EVP of Product Engineering to lead AI-driven product development. This move aligns with CEO Varun Krishna's focus on AI to enhance the homeownership journey. Rocket Companies aims to leverage its vast data resources to innovate in the mortgage and real estate sectors.

Portfolio Pulse from Vandana Singh

October 08, 2024 | 3:07 pm

FYBR

Verizon is preparing to acquire Frontier Communications by lining up $10 billion in debt. This move is significant for both companies as it could impact their financial positions and market strategies.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 3:06 pm

FBGL

FBS Global Limited is set to IPO on NASDAQ under the ticker FBGL on October 9, with shares priced between $4.50 and $5.00. The company specializes in green building and interior fit-out projects.

Portfolio Pulse from Benzinga Insights

October 08, 2024 | 3:00 pm

LLY

Eli Lilly's Q3 financial results will include an acquired in-process research and development (IPR&D) charge of approximately $3.08, affecting both GAAP and non-GAAP EPS.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:55 pm

HPE

Hewlett Packard Enterprise (HPE) is acquiring Juniper Networks for $14 billion and is set to host an AI Day on October 10. BofA Securities analyst Wamsi Mohan maintains a Buy rating for HPE with a $24 price target, citing the company's strong market position in servers and potential benefits from AI server proliferation. HPE's advancements in cooling technology are also highlighted.

Portfolio Pulse from Priya Nigam

October 08, 2024 | 2:50 pm

ACB

CGC

TLRY

Canopy Growth Corp. (NASDAQ:CGC) is focusing on a 'brand-first' strategy through its Canopy USA entity, which includes brands like Wana and Jetty. Analyst Pablo Zuanic suggests this positions Canopy for growth, especially with potential federal regulatory changes. Canopy's asset-light approach contrasts with Canadian peers like Tilray and Aurora, focusing on brand expansion rather than cultivation.

Portfolio Pulse from Nicolás Jose Rodriguez

October 08, 2024 | 2:38 pm

DOCU

HOOD

MYTE

PEP

SAVA

SLNO

U.S. stocks saw gains on Tuesday, with notable movements in PepsiCo, DocuSign, Robinhood, and others. PepsiCo's shares rose despite mixed Q3 results and lowered 2024 guidance. Cassava Sciences surged after an analyst upgrade, and DocuSign rose on news of joining the S&P MidCap 400.

Portfolio Pulse from Avi Kapoor

October 08, 2024 | 2:12 pm