Streetbeat News

Acquisitions Mergers

AMD

NVDA

AMD's acquisition of ZT Systems for $4.9 billion aims to enhance its AI systems capabilities and narrow the gap with Nvidia. Analysts have mixed reactions, with some seeing potential growth and others expressing caution about AMD's competitive position.

Portfolio Pulse from Surbhi Jain

August 20, 2024 | 6:51 pm

GS

IAI

KBWB

Goldman Sachs shares are trading lower as the bank hires Matt Beitzel, a veteran investment banker, to lead its financial institutions group. The bank has also made several senior leadership appointments and agreed to sell Ireland's largest shopping mall. Investors can gain exposure to Goldman Sachs through ETFs like IAI and KBWB.

Portfolio Pulse from Lekha Gupta

August 20, 2024 | 6:21 pm

GTE

Gran Tierra Energy's shares fell following its announcement to acquire Snap i3 Energy for $225.4 million in a cash and stock deal.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 5:07 pm

IVP

Inspire Veterinary Partners shares are trading lower following the company's announcement of plans to accelerate growth through acquisitions.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 5:01 pm

FTXO

KBWB

WFC

Wells Fargo & Co (NYSE:WFC) is trading slightly lower after announcing the sale of its non-agency third-party servicing segment to Trimont. The deal aligns with Wells Fargo's strategy to focus on core businesses and is expected to close in early 2025. The transaction will make Trimont the largest loan servicer in the U.S. Investors can access Wells Fargo stock via First Trust Nasdaq Bank ETF (NASDAQ:FTXO) and Invesco KBW Bank ETF (NASDAQ:KBWB).

Portfolio Pulse from Lekha Gupta

August 20, 2024 | 4:53 pm

CVX

HES

IYE

XLE

XOM

An arbitration panel is set to examine the hidden value of Hess Corporation's oil assets in Guyana amidst a dispute between Exxon Mobil and Chevron. The conflict revolves around whether the deal triggers Exxon's right of first refusal, potentially affecting Chevron's $53 billion acquisition of Hess. Exxon is considering a counterbid if the arbitration supports their claim. The decision is expected in the second half of 2025.

Portfolio Pulse from Lekha Gupta

August 20, 2024 | 4:16 pm

FUBO

PARA

PARAA

ROKU

A bidding war for Paramount Global Inc is intensifying as Edgar Bronfman Jr. counters Skydance's $28 billion merger offer with a $4.3 billion bid, planning to raise more. Bronfman's bid aims to avoid dilution concerns for existing shareholders and includes financing from various investors.

Portfolio Pulse from Chris Katje

August 20, 2024 | 3:39 pm

KKR

KKR is reportedly in talks to acquire The Parking Spot in a deal valued at $1.4 billion.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 3:26 pm

PARA

PARAA

Edgar Bronfman Jr. and his investor group, including Fortress, BC Partners, and Jeff Ubben, have submitted a $4.3 billion bid for a stake in National Amusements Inc. and Paramount. The plan includes collapsing Paramount's dual-class stock structure two years post-deal and achieving $3 billion in cost savings.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 2:52 pm

AMD

NVDA

QQQ

VOO

AMD has reduced prices for its Ryzen desktop processors due to lackluster reviews, impacting margins. However, AMD's acquisition of ZT Systems for $4.9 billion could drive future stock value. Despite a semiconductor selloff, AMD stock is up 49% over the past year.

Portfolio Pulse from Anusuya Lahiri

August 20, 2024 | 2:42 pm