Streetbeat News

Acquisitions Mergers

MZDAY

PCRFY

TSLA

Panasonic Energy, a subsidiary of Panasonic Holdings Corp, plans to build four more factories to boost its annual capacity of batteries for electric vehicles by 2031. The company is open to potential joint ventures for EV battery production, including with automaker Mazda Motor Corp. The company aims to boost annual EV capacity to 200-gigawatt hours (GWh) by early 2031, around four times greater than its capacity in March this year.

Portfolio Pulse from Anusuya Lahiri

July 03, 2023 | 10:40 am

DWAC

META

Truth Social, the social media platform owned by Trump Media & Technology Group (TMTG), is now available for download worldwide. This comes amidst controversy surrounding Elon Musk's recent changes to Twitter. Digital World Acquisition Corp (NASDAQ:DWAC), a blank-check company, is expected to merge with TMTG. Meanwhile, Meta Platforms Inc. (NASDAQ:META) is preparing to launch its Twitter clone, Threads.

Portfolio Pulse from Ananya Gairola

July 03, 2023 | 10:12 am

HDB

HDFC Bank Ltd (NYSE:HDB) has announced the merger closure with HDFC Ltd, India's leading housing finance company, effective from July 1, 2023. Post-merger, HDFC Bank will transform into a financial services conglomerate offering comprehensive financial services. The bank's subsidiaries will include HDFC Asset Management Co. Ltd, HDFC ERGO General Insurance Co. Ltd., HDFC Capital Advisors Ltd., HDFC Securities Ltd., HDB Financial Services Ltd., and HDFC Life Insurance Co. Ltd.

Portfolio Pulse from Lekha Gupta

July 03, 2023 | 10:09 am

CRARY

STNDF

Royal Bank of Canada (RY) has completed the sale of its Investor Services' operations in Europe and Malaysia to CACEIS, a subsidiary of Credit Agricole SA (CRARY, CRARF) and Santander UK PLC (STNDF). The deal does not include RBC's Canadian operations. RY's Q2 FY23 adjusted net income was down 13% Y/Y, and adjusted EPS declined by 11% Y/Y.

Portfolio Pulse from Lekha Gupta

July 03, 2023 | 9:35 am

CRARY

CACEIS, the asset servicing branch of Crédit Agricole, has completed the acquisition of Royal Bank of Canada's (RBC) Investor Services operations in Europe and Malaysia. The deal expands CACEIS's global footprint and enhances its capabilities in these regions.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 7:01 am

DIS

Mukesh Ambani's streaming platform, JioCinema, has become a significant competitor to Walt Disney Co. (NYSE:DIS) in India's rapidly expanding streaming market. JioCinema attracted over 400 million viewers to its streams of the Indian Premier League (IPL) cricket tournament in April and May 2023. The platform has acquired rights to shows and films from global networks like NBC, HBO, and Warner Bros. JioCinema's rise began when it outbid Disney Star for the digital rights to stream the IPL until 2028.

Portfolio Pulse from Benzinga Newsbot

July 03, 2023 | 6:22 am

CCHWF

CRLBF

The proposed multibillion-dollar merger between cannabis companies Cresco Labs (OTC:CRLBF) and Columbia Care (OTC:CCHWF) has been stalled due to regulatory hurdles. The companies failed to meet the June 30 deadline set in their agreement and are now working together to determine the next course of action. The merger aimed to create the most significant legal cannabis operator in the U.S., but concerns about financial viability and regulatory compliance have clouded the deal.

Portfolio Pulse from Nicolás Jose Rodriguez

July 02, 2023 | 5:59 pm

AAPL

ATVI

LLY

SOFI

TSLA

Barron's has highlighted several stocks in its weekend review, including Eli Lilly, Activision Blizzard, SoFi Technologies, Apple, and Tesla. Eli Lilly's promising obesity drug could boost the company's performance. Activision Blizzard's potential acquisition by Microsoft is causing uncertainty. The Supreme Court's decision against student-loan forgiveness had little impact on SoFi. Analysts believe Apple's gross margin expansion is underestimated. Tesla's stock performance is being analyzed based on historical trends.

Portfolio Pulse from Justin Chan

July 01, 2023 | 7:10 pm

SPCE

Japan is considering purchasing Starlink satellite systems from SpaceX to enhance its communication capabilities amid rising tensions over Taiwan. The Starlink system has been a critical communication system for the Ukrainian military and could provide a similar advantage in a potential conflict over Taiwan. This comes as Chinese President Xi Jinping intensifies military pressure on Taiwan.

Portfolio Pulse from Benzinga Newsbot

July 01, 2023 | 3:20 am

FCPT

Four Corners Property Trust (NYSE:FCPT) has acquired two properties from Tire Discounters for $5.3 million via a sale-leaseback transaction. The properties are located in North Carolina and Virginia and are corporate-operated under long-term, triple net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 8:41 pm