Streetbeat News

Acquisitions Mergers

RIO

UEC

Uranium Energy Corp (UEC) has completed the acquisition of exploration-stage projects in the Athabasca Basin, Saskatchewan, Canada from Rio Tinto Exploration Canada Inc., a subsidiary of Rio Tinto PLC (RIO). The deal, worth C$1.5 million, includes a 60% equity stake in the Henday Lake joint venture, 100% of the Milliken project, and a 50% stake in the Carswell joint venture project. This acquisition adds 44,444 acres to UEC's existing portfolio and aligns with its strategy of expanding its footprint in Canada.

Portfolio Pulse from Lekha Gupta

August 22, 2023 | 2:59 pm

AMZN

GOOG

MSFT

PFE

TEVA

S&P Global Ratings has downgraded several US regional banks due to the Federal Reserve's monetary policy. YouTube, a subsidiary of Alphabet Inc, has unveiled its AI music principles in partnership with Universal Music Group. Titan Global Capital Management USA LLC has agreed to pay over $1 million to settle charges by the SEC. Teva Pharmaceutical Industries Limited has agreed to pay $225 million in criminal fines to settle charges related to price fixing. The FDA has approved Pfizer Inc's Abrysvo vaccine. Apollo Global Management Inc has acquired a majority interest in Composite Advanced Technologies Inc. Microsoft Corp has revised its proposal to purchase Activision Blizzard Inc. Retailers with pharmacy businesses are seeing a boost in sales due to increased demand for prescription weight loss drugs. Amazon.Com Inc has unveiled its Fire TV Channels app. Waystar Inc is reportedly making strides toward an IPO. Baidu Inc, Macy's Inc, BJ's Wholesale Club Holdings Inc, Medtronic Plc, Lowe's Companies Inc, and Dick's Sporting Goods Inc have all reported their Q2 earnings.

Portfolio Pulse from Vandana Singh

August 22, 2023 | 2:51 pm

005380.KS

VFS

SGI, a supplier of magnets to Vietnamese EV maker VinFast and Korea's Hyundai Motor, is investing $80 million in a new factory in Vietnam, with production starting in 2024. The move is seen as a countermeasure against potential Chinese trade restrictions and supply uncertainty. The new plant will nearly double SGI's current output.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 2:48 pm

NAAS

Chinese EV charging company NaaS Technology Inc (NASDAQ:NAAS) has agreed to acquire 100% of the shares of Sweden-based Charge Amps AB for $66.4 million. The deal will be financed through a combination of cash and newly issued ordinary shares. NaaS held $78.8 million in cash and equivalents as of March 31, 2023. The acquisition is expected to boost NaaS's EV charging service capacity in Europe.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 2:40 pm

MTSI

WOLF

Wolfspeed Inc (WOLF) has agreed to sell its radio frequency business to MACOM Technology Solutions Holdings Inc. (MTSI) for $125 million, comprising $75 million in cash and 711,528 shares of MACOM common stock. The deal is expected to close by the end of 2023. Following the acquisition, MACOM will gain control of WOLF's 100mm GaN wafer fabrication facility in North Carolina. Wolfspeed has revised its Q1 FY24 guidance to account for the sale.

Portfolio Pulse from Lekha Gupta

August 22, 2023 | 2:34 pm

BLK

VWAGY

Swedish lithium-ion battery producer Northvolt has received a $1.2 billion investment from a consortium of investors including BlackRock Inc, Goldman Sachs Group Inc, and Volkswagen AG. The investment will be used to establish new factories in Europe and North America. This reflects corporations’ interest in funding companies that are set to benefit from the transition to a low-carbon economy.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 2:28 pm

NUTX

Nutex Health Inc (NASDAQ:NUTX) has acquired Population Health Associates, Inc. and Managed Care Insurance Consultants, Inc. The acquisitions will add about 112 primary care physicians and around 4,400 managed care patients to NUTX's existing 25,000 managed care patients and boost its presence in Florida. NUTX projects the deal to optimize medical cost ratios and drive improved patient health outcomes.

Portfolio Pulse from Lekha Gupta

August 22, 2023 | 2:19 pm

APO

Apollo Global Management, Inc. (APO) has acquired a majority stake in Composite Advanced Technologies, Inc (CATEC). CATEC provides compressed natural gas (CNG), renewable natural gas (RNG) and hydrogen transportation and storage solutions in the U.S. Apollo Funds plan to invest further in the company to support expansion in the high-growth hydrogen transport and storage market.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 1:47 pm

ATVI

MSFT

The European Union is considering whether Microsoft needs to refile its deal to acquire Activision Blizzard, according to Bloomberg. The decision could potentially delay the $68.7 billion deal.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 1:45 pm

AVGO

FANG

MSFT

XOM

On CNBC's 'Halftime Report Final Trades', Bryn Talkington of Requisite Capital Management named Diamondback Energy as her final trade after it reported quarterly sales of $1.92 billion, beating the analyst consensus estimate of $1.91 billion. Stephen Weiss of Short Hills Capital Partners said Microsoft will be the 'number 1 beneficiary of AI' and mentioned its new deal submitted to U.K. regulators for the takeover of Activision Blizzard. Joseph Terranova of Virtus Investment Partners picked Broadcom, which expects its VMware acquisition to close at the end of October. Jim Lebenthal of Cerity Partners chose Exxon Mobil, which reported weaker-than-expected second-quarter earnings.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 1:42 pm