Streetbeat News

Acquisitions Mergers

SPY

X

Nippon Steel is making a final effort to secure its proposed $15 billion takeover of U.S. Steel, facing opposition from the Biden administration. The deal has become a political issue in the U.S. as elections approach.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 4:30 pm

BAM

Brookfield Asset Management (NYSE:BAM) plans to invest up to $1.1 billion in eFuels through a partnership with Infinium, marking its first direct investment in sustainable aviation fuel. Despite this strategic move, BAM shares are trading lower.

Portfolio Pulse from Lekha Gupta

September 10, 2024 | 4:07 pm

NEM

Newmont Corporation has agreed to sell its Telfer operation and 70% interest in the Havieron project to Greatland Gold for up to $475 million. This sale is part of Newmont's $2 billion non-core asset divestiture program, expected to close in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 4:07 pm

MEOH

Methanex Corp (NASDAQ:MEOH) is facing a downtrend after announcing a $2.05 billion acquisition of OCI Global's methanol business. Barclays analyst Mike Leithead downgraded Methanex to Equal-Weight, reducing the price target from $56 to $44, citing transaction risks and increased leverage as concerns.

Portfolio Pulse from Priya Nigam

September 10, 2024 | 3:48 pm

KGC

Kinross Gold Corporation has completed a Preliminary Economic Assessment for the Great Bear project, indicating annual production over 500,000 ounces with low all-in sustaining costs of ~$800/oz. The project shows high-grade mineralization at depth, supporting Kinross's acquisition strategy.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 3:26 pm

MARA

Metaplanet, a Japanese company, has acquired 38.6 Bitcoin for $2.2 million, increasing its total Bitcoin holdings to 398.8 BTC. This move aligns with its strategy to allocate funds to Bitcoin, similar to U.S.-based MicroStrategy. Marathon Digital Holdings and Semler Scientific are also following similar strategies by raising funds to purchase Bitcoin.

Portfolio Pulse from Murtuza Merchant

September 10, 2024 | 3:21 pm

IGV

PLTR

T

Palantir Technologies Inc. (PLTR) has been included in the S&P 500, which Bank of America views as a 'watershed moment' likely to attract more institutional investors. The bank reiterated a Buy rating and raised the price target from $30 to $50, citing Palantir's strong financials, AI leadership, and strategic partnerships. The company is seen as a misunderstood giant in AI, with its Foundry platform being a key asset. Despite a slight dip in stock price, Palantir has shown strong year-to-date returns.

Portfolio Pulse from Piero Cingari

September 10, 2024 | 3:20 pm

IYG

JPM

XLF

JP Morgan Chase & Co. has appointed Humberto Garcia-Salas and Andrew Redmond as managing directors in its Mid-Cap Investment Banking division, aiming to strengthen its investment banking segment. The bank has also made other strategic appointments recently.

Portfolio Pulse from Lekha Gupta

September 10, 2024 | 3:16 pm

PLTR

SPY

Palantir Technologies (NYSE:PLTR) has been included in the S&P 500, marking a significant milestone for the company. This inclusion will also place Palantir in major ETFs like the SPDR S&P 500 ETF Trust (NYSE:SPY). CEO Alex Karp highlighted the company's unique journey to profitability and its unconventional management style as key factors in its success. Palantir's partnerships with key institutions have been crucial to its growth, and its stock has reached new 52-week highs, up 109% year-to-date.

Portfolio Pulse from Chris Katje

September 10, 2024 | 2:16 pm

IZEA

IZEA Worldwide has partnered with GP Investments to enhance value creation, expanding its share buyback program from $5M to $10M. A new committee will evaluate strategic options, and the company is focusing on M&A for profitable growth.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 2:05 pm