Streetbeat News

Acquisitions Mergers

FANG

Diamondback Energy Inc (NASDAQ:FANG) shares rose nearly 3% due to rising Middle East tensions and positive analyst ratings. The company announced the closing of an acquisition and updated its third-quarter guidance. Analysts expect earnings of $4.56 per share and revenue of $2.331 billion.

Portfolio Pulse from Adam Eckert

October 01, 2024 | 9:21 pm

VCIG

VCI Global has secured a $30 million investment commitment from Alumni Capital, following a previous $5 million investment. This funding will support VCI Global's AI cloud computing business, with developments planned for Q2 2025. The company has the flexibility to draw on the funds as needed.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 9:10 pm

SMC

Summit Midstream is set to acquire Tall Oak Midstream Operating, LLC for $155M in cash and common stock, marking a significant growth milestone. The deal includes 7.5 million shares and is expected to close in Q4 2024, with additional contingent payments through 2026.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 9:06 pm

KIM

Kimco Realty has acquired Waterford Lakes Town Center in Orlando, Florida for $322 million, including the assumption of a $164 million mortgage. The property is nearly fully occupied with a diverse tenant mix.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 8:39 pm

IR

Ingersoll Rand Inc. has acquired three companies, APSCO, Blutek, and UT Pumps, for approximately $135 million. These acquisitions aim to enhance Ingersoll Rand's product offerings, geographic reach, and financial profile, with an expected mid-teens return on invested capital by the third year.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 8:32 pm

CACI

CACI International Inc has acquired Applied Insight, a company specializing in cloud migration and transformation for the Department of Defense and Intelligence Communities. The acquisition aligns with CACI's mission to enhance its national security offerings.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 8:31 pm

FANG

Diamondback Energy has updated its Q3 production and capital expenditure guidance following its merger with Endeavor. The company expects oil production to be between 319-321 MBO/D and cash CAPEX to range from $675 million to $700 million.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 8:02 pm

ICCT

iCoreConnect has agreed to sell its Managed Service Provider division to The 20, LLC through an asset sale. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 8:02 pm

HOPE

TBNK

Blue Hill Advisors and ISS recommend against the merger of Territorial Bancorp with Hope Bancorp, citing it does not maximize shareholder value. A competing offer is seen as credible, and Territorial shareholders are advised to vote against the merger.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 8:00 pm

NXPL

NextPlat shares are trading lower following the completion of its merger with Progressive Care, resulting in the cessation of Progressive Care's stock trading.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 7:38 pm