Streetbeat News

Acquisitions Mergers

HEPA

Pharma Two B and Hepion Pharmaceuticals have filed a registration statement on Form F-4 for their proposed merger, expected to close in Q4. The statement includes a proxy statement/prospectus related to the merger agreement.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 1:28 pm

BABA

GVIP

ONLN

Alibaba's Taobao and Tmall have launched a new digital technology company to focus on global market growth. Despite recent financial challenges, Alibaba's stock has seen a slight premarket increase.

Portfolio Pulse from Anusuya Lahiri

September 04, 2024 | 1:26 pm

NE

Noble Corporation has completed its acquisition of Diamond Offshore Drilling, enhancing its position as a leading offshore driller and increasing its backlog to $6.7 billion. The acquisition adds $2 billion in backlog and a new director to Noble's board.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 1:23 pm

PFGC

Performance Food Group Company (PFGC) plans to offer $1 billion in Senior Notes due 2032 to finance its acquisition of Cheney Bros, Inc. The proceeds will also cover related fees and expenses, with temporary use for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 1:14 pm

JWN

Nordstrom Inc (NYSE:JWN) shares experienced volatility after the founding family proposed to take the company private at $23 per share. The board's special committee will review the offer. The proposal follows strong Q2 earnings and a 23.5% YTD stock increase.

Portfolio Pulse from Adam Eckert

September 04, 2024 | 1:13 pm

TPG

TPG Rise Climate has acquired MIRATECH, a leader in emissions reduction technology for industrial engines, to address power demand and emissions challenges in sectors like data centers and energy infrastructure. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 1:10 pm

AMD

INTC

MSFT

NVDA

SOXX

VGT

AMD has hired Keith Strier from Nvidia to lead its global AI markets, aiming to enhance its AI capabilities and market share. AMD plans to acquire AI server company ZT Systems for $4.9 billion. Analysts favor Nvidia as a key AI player, but AMD is expected to grow its data center GPU revenue significantly in 2024. AMD stock has risen 24% over the past year, and investors can gain exposure through ETFs like VGT and SOXX.

Portfolio Pulse from Anusuya Lahiri

September 04, 2024 | 1:10 pm

K

MO

Altria Group Inc (NYSE:MO) and Kellanova (NYSE:K) are identified as overbought stocks in the consumer staples sector, with RSI values above 70, indicating potential short-term price corrections. Altria recently increased its dividend, while Kellanova is set to be acquired by Mars, Inc.

Portfolio Pulse from Avi Kapoor

September 04, 2024 | 1:06 pm

X

U.S. Steel employees are rallying to support a transaction with Nippon Steel, emphasizing the deal's potential to protect jobs and secure billions in investments in U.S. Steel's union operations. They are urging local officials to recognize the benefits of the transaction.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 1:03 pm

LPLA

LPL Financial has announced an agreement to acquire The Investment Center, which will add $9 billion in assets and 240 advisors to its platform. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 12:49 pm