Streetbeat News

Acquisitions Mergers

GNTX

VOXX

VOXX International Corporation's stock surged after announcing its board is exploring strategic options, including a potential sale. Gentex Corporation has acquired a significant stake in VOXX, purchasing 3,152,000 shares. The company has formed a strategic transactions committee and hired advisors to assist in the process.

Portfolio Pulse from Dylan Berman

August 27, 2024 | 5:55 pm

PM

Philip Morris International Inc (NYSE:PM) is investing $232 million to expand its Kentucky facility, adding 450 jobs and boosting production of ZYN nicotine pouches. This expansion aligns with PMI's mission for a smoke-free future and is expected to have a significant economic impact.

Portfolio Pulse from Nabaparna Bhattacharya

August 27, 2024 | 5:23 pm

DADA

JD

WMT

Walmart has sold its 9.4% stake in JD.com, ending an eight-year partnership. This move allows Walmart to focus on its own operations in China, where it has seen significant growth. JD.com faces challenges in the competitive Chinese e-commerce market.

Portfolio Pulse from The Bamboo Works

August 27, 2024 | 4:32 pm

VGK

XPEV

Xpeng is planning to establish a manufacturing site in Europe to mitigate the impact of import tariffs. The company is in the early stages of site selection in the EU, focusing on areas with low labor risks. Additionally, Xpeng plans to set up a large-scale data center in Europe to support its intelligent driving features. Despite higher levies, Xpeng's global expansion plans remain unchanged, although profits from European countries may be reduced.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 3:23 pm

ARES

NFL owners are considering allowing private equity firms to invest in their franchises, with a vote scheduled during a special league meeting. Approved firms include Arctos, Ares, and Sixth Street Partners, which could acquire up to 10% stakes in NFL teams.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 3:07 pm

AMZN

Amazon's Wondery has signed a $100 million deal with the Kelce brothers for their popular podcast 'New Heights'. This move strengthens Amazon's presence in the sports and entertainment sector, leveraging the brothers' NFL fame and cultural influence.

Portfolio Pulse from Chris Katje

August 27, 2024 | 2:15 pm

MU

TSM

VGT

VTV

Micron Technology is considering acquiring two AUO Corp facilities in Taiwan, following Taiwan Semiconductor's recent acquisition of a plant from Innolux. Micron's stock has gained 52% in the last year, and analysts have a positive outlook with a 12-month price target of $168.56. Investors can gain exposure through Vanguard ETFs.

Portfolio Pulse from Anusuya Lahiri

August 27, 2024 | 1:55 pm

GNTX

VOXX

VOXX International shares rise following news of a potential sale, while Gentex acquires 3,152,000 shares at $5 each.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 1:50 pm

BHP

BHP Group reported a $13.7 billion profit for the fiscal year ending June 30, with a focus on expanding copper production despite a challenging macroeconomic environment. The company plans to increase copper output significantly, driven by rising demand for green technology. BHP's dividend was slightly reduced, reflecting cautious optimism amid global economic volatility.

Portfolio Pulse from Stjepan Kalinic

August 27, 2024 | 1:42 pm

VOXX

VOXX International is exploring strategic alternatives to maximize shareholder value, including potential sales or operational improvements. The company has formed a strategic transactions committee and hired advisors to assist in the process.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 1:36 pm