Streetbeat News

Acquisitions Mergers

QSR

Roark Capital is reportedly close to acquiring Subway for $9.6 billion. Subway, the eighth-largest U.S. restaurant brand, has faced challenges in recent years but has ambitious global expansion plans. Meanwhile, JP Morgan initiated coverage on Restaurant Brands International (NYSE:QSR) with a price target of $84 and an Overweight rating, anticipating improved performance across existing and new stores.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 6:21 pm

JNJ

KVUE

Johnson & Johnson's (JNJ) recent $35 billion exchange offer for Kenvue Inc (KVUE) saw high participation, with 30% of JNJ's outstanding stock being tendered. However, only 23.8% of JNJ shares will be accepted for exchange for KVUE's stock. The article also discusses potential yields from holding onto JNJ, given its reputation in the market.

Portfolio Pulse from AJ Fabino

August 21, 2023 | 6:17 pm

MU

Micron Technology Inc (NASDAQ:MU) plans to expand memory chip production in Boise, Idaho, and Clay, New York, with the help of federal funding and tax credits. The company has applied for funds under the CHIPS Act, which aims to strengthen and diversify supply chains. Micron plans to invest $15 billion in its Idaho facility by 2032, creating 17,000 jobs. In New York, the company plans to invest up to $100 billion over the next two decades. However, the Cybersecurity Administration of China has labeled Micron as a cybersecurity threat, banning Chinese operators from purchasing from the company.

Portfolio Pulse from Anusuya Lahiri

August 21, 2023 | 6:10 pm

AI

DBX

DHI

LEN

NVR

SNOW

Warren Buffett's Berkshire Hathaway has recently invested heavily in the housing and artificial intelligence sectors. The company has acquired significant positions in homebuilders Lennar (NYSE:LEN), NVR (NYSE:NVR), and DR Horton (NYSE:DHI), and in AI-related companies Snowflake (NYSE:SNOW), Databricks (NASDAQ:DBX), and C3.ai (NYSE:AI). The housing market is currently booming due to low interest rates, strong demand, and limited supply, while AI is a disruptive technology expected to have a significant impact in the future.

Portfolio Pulse from Sandra Stone

August 21, 2023 | 5:49 pm

S

Cybersecurity firm SentinelOne has reportedly hired investment bank Qatalyst Partners to advise on discussions with potential acquirers, including private equity firms.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 5:26 pm

S

Sentinelone Inc is reportedly exploring a sale, with advisory services being provided by Qatalyst Partners.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 5:25 pm

ID

MRNA

NSSC

PANW

SLGG

TMBR

U.S. stocks traded mixed with the Dow Jones falling over 100 points while NASDAQ and S&P 500 rose. Palo Alto Networks reported better-than-expected Q4 earnings and issued a strong billings outlook, causing its shares to rise by 17%. Timber Pharmaceuticals' shares spiked by 98% as it agreed to be acquired by LEO US Holding. Moderna's shares also rose by 9% after announcing positive preliminary clinical trial data for its updated COVID-19 vaccine. Meanwhile, shares of Super League Gaming, Napco Security Technologies, and PARTS iD fell significantly.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 4:45 pm

ADBE

The Competition and Markets Authority has published a notice of termination of extension on the Adobe/Figma deal, according to Reuters.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 4:00 pm

ESTE

Earthstone Energy has announced a definitive agreement to be acquired by Permian Resources in an all-stock transaction valued at approximately $4.5 billion. This has led to a rise in Earthstone Energy's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 3:32 pm

X

US Steel's shares are trading higher after a report suggested that ArcelorMittal is considering an offer between $38-$39 per share for the company.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 3:21 pm