Streetbeat News

Acquisitions Mergers

ALB

LINRF

Australian billionaire Gina Rinehart has increased her stake in lithium producer Liontown Resources (OTC:LINRF) to 16.7%, potentially providing her with enough leverage to block Albemarle Corp's (NYSE:ALB) proposed $4.3 billion takeover of the company. Liontown Resources owns one of the world's richest lithium deposits and has secured a deal to supply battery materials to Ford Motor Company (NYSE:F).

Portfolio Pulse from Akanksha Bakshi

October 06, 2023 | 3:15 pm

COP

CVX

PXD

XOM

Exxon Mobil Corp is reportedly close to completing a $60 billion acquisition of Pioneer Natural Resources Co, which has led to a nearly 10% increase in Pioneer's shares. Exxon aims to strengthen its position in the U.S. oil sector, particularly in the Permian shale basin where Pioneer is the third-largest oil producer. The acquisition could be Exxon's largest since its merger with Mobil in 2000 and could increase Exxon's oil production in the region to 1.3 million barrels a day.

Portfolio Pulse from AJ Fabino

October 06, 2023 | 2:56 pm

AAPL

AMZN

BTCUSD

GLD

GOOG

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

USO

XOM

The stock market is expected to be influenced by the upcoming inflation data and earnings. The jobs report is strong, but average hourly earnings are lower than expected. Exxon Mobil Corp is rumored to be in talks to buy Pioneer Natural Resources Co for $60B. Money flows are negative in Apple Inc, Amazon.com, Inc., Alphabet Inc Class C, Meta Platforms Inc, Microsoft Corp, and NVIDIA Corp, and very negative in Tesla Inc. Money flows are also negative in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

October 06, 2023 | 2:45 pm

AON

Aon plc (NYSE:AON) has announced its acquisition of Global Insurance Brokers, a provider of risk management, insurance, and reinsurance broking services in India. The acquisition, which is pending regulatory approval, is expected to enhance Aon's capabilities in commercial risk, health, and reinsurance markets, and expand its geographical footprint in India. The deal terms were not disclosed.

Portfolio Pulse from Akanksha Bakshi

October 06, 2023 | 2:37 pm

PXD

XOM

Pioneer Natural Resources Company (NYSE:PXD) shares are trading higher following a report suggesting Exxon Mobil Corporation (NYSE:XOM) is nearing a $60 billion deal to acquire the company. Pioneer's stock closed on Thursday with a market value near $50 billion. The company's proven reserves were 2.4 billion barrels of oil equivalent with net production for the year of 650 mboe per day.

Portfolio Pulse from Erica Kollmann

October 06, 2023 | 2:23 pm

CAG

GSK

MGM

MSFT

NFLX

NVDA

NVO

PHG

PYPL

SHEL

SNAP

TSM

UBER

The article discusses various regulatory, financial, and operational updates from multiple companies. Key points include potential delays in the PGA Tour and LIV Golf merger due to regulatory concerns, Snap Inc facing UK regulatory hurdles over privacy concerns, Philips' ventilator device recall facing FDA's discontent, Micron's $15B investment in a new Idaho facility, Novo Nordisk's weight loss drugs posing serious stomach risks, Shell revising its Q3 FY23 operational outlook, MGM Resorts expecting a $100M blow from a recent cybersecurity breach, GSK cutting stake in Haleon, TSMC's earnings fueled by AI demand, Netflix's growth issues in India, Uber facing legal hurdles in EU, ConAgra considering a makeover in portion sizes amid diet drug wave, PayPal facing a class-action suit accused of forcing higher price, Nvidia, Intel, Qualcomm challenging Biden's China restrictions, and Microsoft nearing the completion of Activision Blizzard acquisition.

Portfolio Pulse from Vandana Singh

October 06, 2023 | 2:05 pm

DIS

Walt Disney Company (NYSE:DIS) is reportedly in preliminary talks with potential buyers for its India streaming and television business. The company is considering selling part of the Indian operations or a combination of the unit's assets, including sports rights and regional streaming service Disney+ Hotstar. This follows the loss of streaming rights to the Indian Premier League cricket tournament. Despite this, Disney Star remains committed to the cricket domain, securing television rights that extend until 2027.

Portfolio Pulse from Shivani Kumaresan

October 06, 2023 | 1:51 pm

BTCUSD

ETHUSD

SPY

US markets are reacting to bond market chaos and high-interest rates, with S&P 500 and Nasdaq futures climbing ahead of key jobs data. Cryptocurrencies Bitcoin, Ethereum, and Dogecoin are tumbling ahead of this data, with the US Treasury flagging Bitcoin and Ethereum linked to Chinese Fentanyl trade. In the electric vehicle sector, Renault, Volvo, and CMA CGM are partnering for a new line of electric vans, while Tesla has made price cuts that could impact Wall Street EPS projections. Exxon Mobil is reportedly nearing a $60B deal to buy Pioneer Natural Resources.

Portfolio Pulse from Akanksha Bakshi

October 06, 2023 | 1:40 pm

LOWLF

California-based Lowell Farms Inc. (OTCQX:LOWLF) has repurchased all of the $22,157,417 aggregate principal amount of outstanding senior secured convertible debentures of its subsidiary, Indus Holding Company. The holders received membership interests in LF Brandco LLC and 6,849,572 subordinate voting shares, representing approximately 36% of the company's consolidated, undiluted equity interests. The voting agreement of the company has been terminated.

Portfolio Pulse from Jelena Martinovic

October 06, 2023 | 1:23 pm

GOLF

NKE

VSTO

The merger between the PGA Tour and Saudi-backed LIV Golf, initially set to be finalized by December 31, faces potential delays due to regulatory concerns in the U.S. and demands by PGA Tour players for a stake. The U.S. Justice Department is reviewing the proposed merger due to antitrust concerns. The deal, financially supported by Saudi Arabia's Public Investment Fund (PIF), is also under scrutiny from U.S. lawmakers.

Portfolio Pulse from Vandana Singh

October 06, 2023 | 1:08 pm