Streetbeat News

Acquisitions Mergers

HRI

Herc Holdings has reaffirmed its FY23 adjusted EBITDA guidance of $1.45 billion to $1.55 billion, reflecting an increase of 18% to 26% compared to FY22. The company plans to gain market share by capitalizing on higher forecasted construction spending in 2023 through fleet investment, strategic acquisitions, and diversified product portfolio cross-selling.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 10:38 am

BX

PSA

Public Storage (NYSE:PSA) has priced a public offering of senior notes worth $2.2 billion to fund the buyout of Simply Self Storage from Blackstone Inc's (NYSE:BX) Blackstone Real Estate Income Trust, Inc. (BREIT). The offering, which includes an inaugural 30-year senior note, is expected to close on July 26, 2023.

Portfolio Pulse from Lekha Gupta

July 25, 2023 | 9:39 am

SHEL

Shell has sold a 35% interest in Indonesia's Masela Block for up to $650 million to PT Pertamina and Petronas. The deal is part of Shell's ongoing divestment strategy.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 7:22 am

PSA

Public Storage has priced a public offering of $2.2 billion senior notes to fund its acquisition of Simply Self Storage.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 6:26 am

CYH

Community Health Systems (CYH) has agreed to sell three of its Florida hospitals to Tampa General Hospital for $290 million.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 4:28 am

DHLGY

JNJ

PSIL

REUN

Minneapolis Mayor Jacob Frey has signed an executive order deprioritizing criminal prosecution for possession, use, purchase, cultivation and engaging in practices with “entheogenic plants or plant compounds. German company Acid Berlin is selling a reportedly legal LSD prodrug and shipping it through DHL Group to clients based in Berlin. Reunion Neuroscience is on the brink of going private with final court approval. Filament Health gets ready to uplist to NASDAQ in a $210M SPAC deal. Sales of Johnson & Johnson esketamine drug Spravato rose nearly 100% year-over-year. PharmaTher's DMT patch showed positive outcomes, investment toward the clinical stage. Enveric Biosciences unveiled positive results from animal studies of its psilocin prodrug for anxiety. Core One Labs entered a LOI for the first sale of its psychedelic biosynthetic compounds. AdvisorShares Psychedelics ETF opened Monday, July 24, at $1.94, dropping from prior Friday’s closing at $1.99.

Portfolio Pulse from Lara Goldstein

July 24, 2023 | 9:14 pm

TCEHY

Chinese tech conglomerate Tencent Holdings ADR (OTC:TCEHY) has acquired Polish game development studio Techland. The financial terms of the deal were not disclosed. Despite Tencent's majority ownership, Techland will maintain full ownership of its intellectual properties and retain creative independence. Tencent has been on a spending spree in 2022, acquiring several prominent game development companies.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 8:47 pm

TCEHY

Chinese tech conglomerate Tencent Holdings ADR (OTC:TCEHY) has announced its acquisition of Polish game development studio, Techland. The move is part of Tencent's 2022 spending spree, which has seen the company acquire several prominent game development companies. Despite Tencent's majority ownership, Techland will maintain full ownership of its intellectual properties and continue to operate as an autonomous entity.

Portfolio Pulse from Franca Quarneti

July 24, 2023 | 8:44 pm

AWK

Pennsylvania American Water, a subsidiary of American Water (NYSE:AWK), has signed an agreement to purchase the water system assets of East Dunkard Water Authority for $5 million. The acquisition will expand the company's footprint to 38 counties across Pennsylvania. The company plans to invest more than $17 million in the system to improve the water treatment plant and overall system reliability.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 8:31 pm

IPAR

Inter Parfums has increased its 2023 sales guidance to $1.3 billion, up from the previous estimate of $1.25 billion. The company attributes this to a healthy fragrance market and strong consumer demand. The new guidance does not include sales from recently acquired fragrance licenses, Roberto Cavalli and Lacoste. The company will revise its guidance for net income per diluted share when it releases its full second quarter results on August 8, 2023.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 8:30 pm