Streetbeat News

Acquisitions Mergers

APO

FTNT

WYNN

On CNBC's 'Halftime Report Final Trades', Stephanie Link of Hightower recommended Fortinet, Inc. (FTNT), Joseph Terranova of Virtus Investment Partners picked Apollo Global Management, Inc. (APO), and Jim Lebenthal of Cerity Partners named Wynn Resorts, Limited (WYNN) ahead of its quarterly earnings. Fortinet recently reported mixed quarterly results, while Apollo recently acquired a majority stake in Modern Aviation. Wynn Resorts is expected to post quarterly earnings of 75 cents per share on revenue of $1.59 billion.

Portfolio Pulse from Lisa Levin

November 09, 2023 | 2:10 pm

TDG

TransDigm Group Incorporated (NYSE:TDG) has announced the acquisition of the Electron Device Business of Communications & Power Industries for $1.385 billion in cash. The acquisition is expected to close by the end of TransDigm's third fiscal quarter of 2024. TransDigm also declared a special cash dividend of $35.00 on each outstanding share of common stock. The company expects fiscal 2024 net sales of $7.48 billion-$7.68 billion and Adjusted EPS of $31.00-$32.94.

Portfolio Pulse from Shivani Kumaresan

November 09, 2023 | 2:09 pm

JEWL

Adamas One Corp. (Nasdaq: JEWL) has announced the formation of a new wholly owned subsidiary, Adamas Technologies. The subsidiary will focus on research and development, partnerships, and deployment of Lab-Grown Diamond-based solutions for the technology industry. The company's patented technology and the properties of Lab-Grown Diamonds are expected to address the increasing demand from the semiconductor sector. The COO of Adamas One Corp., Gerald McGuire, will lead the new subsidiary.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 2:05 pm

ASTR

Astra Space Inc has proposed to acquire all outstanding common stock of the company not currently owned by Kemp & London, for $1.50 per share in cash, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:55 pm

GIS

General Mills, Inc. (NYSE:GIS) has acquired Fera Pets, Inc., a pet supplement company, marking its first entry into the pet supplement category and the first acquisition by its newly launched growth equity fund. Fera Pets will join General Mills' new growth equity fund, which is designed to own, scale, and incubate strategically aligned businesses for future integration into the company's core portfolio. This move is part of General Mills' disruptive innovation ecosystem, Gold Medal Ventures, which also includes its internal venture studio, G-Works, and its corporate venture capital arm, 301 INC.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:25 pm

CNM

Core & Main has signed an agreement to acquire Granite Water Works Inc. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:09 pm

GLP

Global Partners LP has agreed to acquire 25 liquid energy terminals from Motiva Enterprises LLC for $305.8 million in cash. This acquisition is expected to expand Global Partners' footprint in the liquid energy market.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 12:20 pm

WBX

Wallbox reported 3Q23 revenue of €32.5 million, a 35% gross margin, and €39 million in cost savings. The company activated nearly 50,000 AC chargers globally, marking a 30% YoY increase. Wallbox also announced the acquisition of ABL GmbH, a market leader in Germany, and a partnership with Kia America to deliver Wallbox's Quasar 2 alongside Kia's new EV9 SUV in 2024.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 12:13 pm

TDG

TransDigm Group Incorporated (TDG) has agreed to acquire the Electron Device Business of Communications & Power Industries for approximately $1.385 billion in cash.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 11:20 am

TSLA

Indian Commerce Minister, Piyush Goyal, is planning a meeting with Tesla's CEO, Elon Musk, to discuss Tesla's entry into the Indian market. The meeting will focus on Tesla's plans to set up a manufacturing base in India, including the production of a budget-friendly $24,000 electric vehicle, local component sourcing, and a comprehensive charging network. A key point of discussion will be India's evolving electric vehicle (EV) policy, which may allow automakers to import fully assembled EVs at a reduced tax rate of 15%, provided they commit to local production.

Portfolio Pulse from Shomik Sen Bhattacharjee

November 09, 2023 | 11:11 am