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Acquisitions Mergers

PWER

XME

Alcoa Corporation (NYSE:AA) has agreed to sell its 25.1% stake in the Ma’aden Joint Venture to Saudi Arabian Mining Company for $1.1 billion. The deal includes Ma’aden shares and cash, with Alcoa retaining some shares for at least three years. The transaction is expected to close in the first half of 2025, pending approvals. Alcoa's stock is trading higher following the announcement.

Portfolio Pulse from Lekha Gupta

September 16, 2024 | 10:28 am

APO

BP has sold a $1 billion non-controlling stake in its Trans Adriatic Pipeline subsidiary to Apollo, while retaining control. The deal aligns with BP's strategy to focus on gas and low-carbon projects, and contributes to its divestment targets. BP and Apollo plan to explore further investment opportunities together.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 10:16 am

TRMB

Trimble has sold its global telematics business to Platform Science and will become a key investor with a 32.5% stake in the expanded business. This move is expected to positively impact Trimble's financial metrics.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 7:23 am

Alcoa has agreed to sell its 25.1% stake in a joint venture with Ma'aden for $1.1 billion, including $950 million in Ma'aden shares. This transaction will simplify Alcoa's portfolio in Saudi Arabia and provide greater financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 6:52 am

AAPL

INTC

MSFT

NFLX

QCOM

RBLX

The tech sector faces challenges despite AI buzz, with gaming giants like EA, Roblox, and Microsoft facing accusations of deceiving players. Apple launched the iPhone 16, and Netflix's gaming catalog hit 210M downloads. Qualcomm considers acquiring Intel segments, and Microsoft plans a cybersecurity summit after layoffs.

Portfolio Pulse from Lekha Gupta

September 15, 2024 | 8:03 pm

AMZN

Amazon is reportedly strengthening its ties with TikTok, leading to speculation about a potential acquisition. This comes amidst TikTok's legal challenges in the U.S. and its strategic partnership with Amazon, which includes in-app shopping features.

Portfolio Pulse from Bibhu Pattnaik

September 14, 2024 | 5:57 pm

AAPL

BIG

LCID

NVDA

Benzinga highlights bullish and bearish stock stories, including Nvidia's AI growth, Apple's pricing strategy, and Big Lots' bankruptcy. Nvidia is expected to grow due to AI, Apple plans a staggered pricing for iPhone 16, and Big Lots files for Chapter 11. Lucid faces challenges in electric pickups.

Portfolio Pulse from Michael Cohen

September 14, 2024 | 1:41 pm

INTC

Intel has secured a $3.5 billion contract to produce semiconductors for the U.S. military under the Secure Enclave program. This deal is part of a broader incentive package, including $8.5 billion in grants and $11 billion in loans, to support Intel's facilities in the U.S. and Europe.

Portfolio Pulse from Ananya Gairola

September 14, 2024 | 8:02 am

AAPL

MSFT

NVDA

OpenAI is seeking a $150 billion valuation in its new funding round, contingent on removing a profit cap for investors. This shift from a non-profit to a more investment-attractive entity involves major investors like Microsoft, Nvidia, and Apple. The restructuring could significantly impact OpenAI's valuation and governance.

Portfolio Pulse from Rounak Jain

September 14, 2024 | 7:17 am

DSTRF

FIAC

Focus Impact Acquisition Corp. shareholders have approved a business combination with DevvStream, a carbon credit project firm. This merger will make DevvStream the first publicly traded carbon streaming company on a major U.S. stock exchange.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 8:33 pm