Streetbeat News

Acquisitions Mergers

CRM

FEPI

IGV

Salesforce is acquiring Own Company for $1.9 billion to enhance its data security offerings. The acquisition is expected to close in Salesforce's fiscal year 2025 and will be accretive to free cash flow in the second year post-closing. Salesforce also declared a quarterly dividend and reported strong Q2 earnings.

Portfolio Pulse from Lekha Gupta

September 06, 2024 | 10:04 am

NPSCY

X

The U.S. is considering blocking Nippon Steel's acquisition of U.S. Steel due to national security concerns, causing tension with Japan. Japanese leaders warn this could harm U.S.-Japan relations. The deal faces opposition from U.S. labor unions and political figures.

Portfolio Pulse from Benzinga Neuro

September 06, 2024 | 9:45 am

INTC

MBLY

Intel is reportedly exploring the sale of part of its stake in Mobileye, a move that could impact both companies' stock prices. This decision comes as Intel seeks to optimize its portfolio and focus on core operations.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 9:39 am

CRM

Salesforce CEO Marc Benioff announced a strategic pivot towards autonomous AI agents, named Agentforce, to maintain competitiveness in the AI era. This move responds to a critical blog post by Andreessen Horowitz and aims to automate customer service tasks. Salesforce is testing Agentforce with companies like Wiley and Open Table, and Benioff remains optimistic about the company's AI-driven transformation.

Portfolio Pulse from Benzinga Neuro

September 06, 2024 | 9:39 am

ABM

ABM Industries is set to release its Q3 earnings, with analysts expecting an EPS of $0.86 and revenue of $2.04 billion. The company recently acquired Quality Uptime Services for $119 million. Analysts have mixed ratings on ABM, with some adjusting price targets ahead of the earnings call.

Portfolio Pulse from Avi Kapoor

September 06, 2024 | 9:29 am

AMD

INTC

NVDA

Intel is considering major strategic changes to improve its position in the AI chip market, where it lags behind Nvidia and AMD. CEO Pat Gelsinger faces pressure to enhance Intel's AI strategy amid declining market value and executive challenges.

Portfolio Pulse from Benzinga Neuro

September 06, 2024 | 9:25 am

CLF

X

Cleveland-Cliffs is prepared to acquire and invest in any union-represented assets that U.S. Steel shuts down, with support from the United Steelworkers union and financing from J.P. Morgan and Wells Fargo.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 9:24 am

INTC

QCOM

Qualcomm is considering acquiring certain segments of Intel's design business to enhance its product offerings. This move comes as Intel faces cash generation issues and considers divesting business units. Qualcomm's interest is particularly in Intel's client PC design business, although no formal approach has been made yet.

Portfolio Pulse from Benzinga Neuro

September 06, 2024 | 8:16 am

POLE

Andretti Acquisition Corp. II has announced the pricing of its $200 million IPO, with 20 million units at $10 each. The Class A shares and warrants will trade on Nasdaq under the symbols 'POLE' and 'POLEW'. The offering is expected to close on September 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 7:18 am

EVGR

Evergreen is set to merge with Forekast in a $105 million deal to enhance AI-powered growth. The merger will focus on R&D, marketing, market expansion, talent acquisition, and strategic acquisitions.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 7:05 am