Streetbeat News

Acquisitions Mergers

AMBC

Ambac Financial Group's shares have risen by 10% recently as the company plans to sell its financial guarantee business by year-end. Analyst Harry Fong upgraded the stock to 'Buy' with a price target of $15, citing potential cash earnings and a $50 million share repurchase program post-sale.

Portfolio Pulse from Priya Nigam

September 18, 2024 | 2:38 pm

CWST

Casella Waste Systems (CWST) shares fell by 5.44% after announcing a $450 million public offering of 4.5 million shares at $100 each. The proceeds will fund acquisitions and repay debt.

Portfolio Pulse from Henry Khederian

September 18, 2024 | 2:30 pm

AIOT

APLT

LUNR

VFC

VSCO

Several US-listed stocks saw significant gains on Wednesday. Applied Therapeutics surged 72% after the FDA decided an advisory committee meeting was unnecessary. Intuitive Machines rose 52% following a NASA contract award. PowerFleet increased 13% due to an acquisition agreement. Other notable gainers include Bausch + Lomb, Braskem, i-80 Gold, Terns Pharmaceuticals, V.F. Corporation, Gannett, Gyre Therapeutics, Victoria's Secret, and e.l.f. Beauty.

Portfolio Pulse from Avi Kapoor

September 18, 2024 | 1:57 pm

GS

RBGLY

Reckitt Benckiser is exploring the sale of its homecare division and evaluating options for its Mead Johnson Nutrition business. The company aims to focus on its top-performing brands and optimize shareholder returns. Goldman Sachs is assisting in the evaluation process.

Portfolio Pulse from Vandana Singh

September 18, 2024 | 1:38 pm

IWFN

IWM

IYR

PSCD

VB

VNQ

XOP

The Federal Reserve's anticipated interest rate cut is expected to impact small-cap sectors differently. Financials and real estate are likely to benefit, with ETFs like iShares Russell 2000 Financials ETF (IWFN) and Vanguard Real Estate ETF (VNQ) offering potential gains. Consumer discretionary and energy sectors may also see positive effects, with SPDR S&P 600 Small Cap Consumer Discretionary ETF (PSCD) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP) as options. Technology and healthcare sectors remain stable but less rate-sensitive.

Portfolio Pulse from Surbhi Jain

September 18, 2024 | 1:34 pm

PWFL

PowerFleet shares rose following the announcement of its acquisition of Fleet Complete for $200 million.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 1:21 pm

MGRC

McGrath RentCorp shares declined following the announcement of the termination of its merger with WillScot.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 1:15 pm

ALK

HA

Alaska Airlines has completed its acquisition of Hawaiian Airlines, expanding its network to 141 direct destinations and over 1,200 global destinations. Both brands will be maintained, and free mile transfers between loyalty programs will be offered.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 12:56 pm

BCE

BCE Inc. has agreed to sell its stake in Maple Leaf Sports and Entertainment to Rogers Communications for CAD$4.7 billion. The deal includes a long-term content rights agreement for TSN, ensuring its position as a leading sports broadcaster in Canada. BCE plans to use the proceeds to reduce debt and support its transformation strategy.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 12:51 pm

RCI

Rogers Communications has signed an agreement to purchase Bell's 37.5% ownership stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion. This acquisition will allow Rogers to invest in bringing championships to Canada. Sportsnet, owned by Rogers, will continue broadcasting 50% of Maple Leafs and Raptors games controlled by MLSE.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 12:35 pm