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Acquisitions Mergers

CMCSA

DIS

ROKU

Walt Disney Company (DIS) shares are trading higher, up more than 7% over the last five days. Disney announced it will acquire the remaining 33% stake in Hulu from Comcast Corporation (CMCSA) for $8.61 billion. Disney's streaming competitor, Roku (ROKU), reported better-than-expected sales results, boosting shares of streaming-related companies. Disney is set to report its Q4 and full year financial results on Nov. 8.

Portfolio Pulse from Erica Kollmann

November 03, 2023 | 6:00 pm

SIEGY

Siemens AG (OTC:SIEGY) plans to invest over $500 million in the U.S. manufacturing sector, including a $150 million high-tech manufacturing plant in Dallas-Fort Worth, Texas, to support American data centers and critical infrastructure. The company also plans to invest in a new rail manufacturing facility in Lexington, North Carolina, and two electrical-products manufacturing plants in Texas and California. These investments are expected to create 1,700 jobs and are part of Siemens' €2 billion global investment strategy for 2023.

Portfolio Pulse from Shivani Kumaresan

November 03, 2023 | 5:42 pm

AGL

Agilon Health Inc's Q3 revenue increased 75% to $1.22 billion, beating consensus and management guidance. However, the company reported a net loss of $31 million. Total members on the Agilon platform increased to 508,000. The company sold its subsidiary, MDX Hawaii, to focus on its core partner markets in the U.S. Agilon Health cut its FY23 revenue guidance from $4.525 billion-$4.540 billion to $4.31 billion-$4.32 billion. AGL shares are down 16.90% at $14.04.

Portfolio Pulse from Vandana Singh

November 03, 2023 | 5:19 pm

PAA

Plains All American Pipeline LP (PAA) reported Q3 2023 revenue of $12.07 billion, missing the consensus of $14.5 billion. Adjusted EPS of 35 cents beat the consensus of 26 cents. The company closed two acquisitions that enhance the service offering of their Permian JV. PAA and PAGP announced quarterly cash distributions of $0.2675 per Common Unit and per Class A Share. PAA raised the outlook for attributable adjusted EBITDA to $2.60 billion - $2.65 billion from $2.45 billion - $2.55 billion. PAA shares are trading lower by 2.41% at $15.50.

Portfolio Pulse from Lekha Gupta

November 03, 2023 | 4:33 pm

LINC

Lincoln Educational Services Corporation (NASDAQ:LINC) has announced the signing of lease agreements for a new campus in Houston, TX and a new location for its Nashville, TN campus. The Houston campus will be the second Lincoln Tech school in Texas and will feature a 100,000 square foot training center. The Nashville campus will have over 120,000 square feet and will expand the skilled trades training offered. These announcements come as Lincoln nears the completion of its new campus in Atlanta, GA and the relocation of its Philadelphia, PA campus.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 4:15 pm

LVO

PODC

PodcastOne, a subsidiary of LiveOne, has acquired exclusive sales and distribution rights, as well as certain ownership and IP rights, to the true crime podcast, Vigilante. The podcast was named 'Best True Crime Podcast of 2022' and has over 2 million downloads to date. No financial terms of the deal were disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 3:52 pm

D

ENB

Dominion Energy Inc reported Q3 FY23 revenue of $3.81 billion, missing the consensus of $4.38 billion. Operating earnings fell to $667 million from $847 million, declining across all segments. The company declared a quarterly dividend per share of 66.75 cents. In September, Dominion Energy announced agreements to sell its gas distribution companies to Enbridge Inc. Dominion Energy expects Q4 FY23 operating earnings per share of $0.35 versus the $0.93 consensus.

Portfolio Pulse from Lekha Gupta

November 03, 2023 | 2:43 pm

D

ENB

Enbridge Inc (ENB) reported Q3 FY23 adjusted EPS of C$0.62, lower than C$0.67 a year ago. However, in USD terms, EPS of $0.46 beat the consensus of $0.44. Sales of $7.34 billion missed the consensus of $8.25 billion. Adjusted EBITDA rose 3% Y/Y to C$3.9 billion. ENB also inked a deal with Dominion Energy Inc (D) to acquire several companies for $14 billion and seven operating landfill-to-renewable natural gas assets for $1.2 billion. ENB reaffirmed its 2023 outlook.

Portfolio Pulse from Lekha Gupta

November 03, 2023 | 1:37 pm

CODI

FOXF

Fox Factory Holding Corp's shares have fallen by 20% following the release of its Q3 FY23 results, which showed a 19.1% Y/Y decline in net sales to $331.1 million, missing the consensus of $398.3 million. The company's gross margin also contracted to 32.4% due to a shift in product line mix and costs related to maintaining the skilled workforce amid a UAW strike. The company also announced a share repurchase plan for up to $300 million common shares and the acquisition of Marucci Sports, LLC from Compass Diversified Holdings for $572 million.

Portfolio Pulse from Lekha Gupta

November 03, 2023 | 1:15 pm

XPOF

Xponential Fitness, Inc. (NYSE:XPOF) has announced several milestones in its international expansion initiatives. The company has appointed Bob Kaufman as President of International to lead its expansion plans across all brands. Xponential has also announced several multi-brand deals in new and existing international markets, including Qatar, Hong Kong, Malaysia, Scotland, and Spain. The company currently operates in 23 countries globally.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 1:04 pm