Streetbeat News

Acquisitions Mergers

ENS

EnerSys has updated its financial outlook for Q2 and FY25, raising its EPS and revenue guidance. The company expects Q2 EPS to be between $2.05 and $2.15, and revenue between $880M and $920M. For FY25, EPS guidance has been raised to $8.80-$9.20, and revenue to $3.735B-$3.885B. The updates reflect the benefits of the Bren-Tronics acquisition and positive demand trends in most end markets.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 9:01 pm

ABL

Abacus Life, Inc. (NASDAQ: ABL) has announced a definitive agreement to acquire FCF Advisors, adding up to $600 million in assets under management (AUM) to Abacus. The acquisition aligns with Abacus' expansion of ABL Wealth and its diverse suite of products.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 8:43 pm

ESE

ESCO Technologies is reviewing strategic alternatives for its space business at VACCO. This could include a sale, merger, or other strategic transactions.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 8:40 pm

CHRD

Chord Energy has updated its FY24 guidance following its combination with Enerplus. The company expects to generate $2.9B in Adjusted EBITDA and $1.2B in Adjusted Free Cash Flow, with a reinvestment rate of 55%.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 8:39 pm

ZIP

ZipRecruiter has acquired Breakroom, a UK-based employer review platform, to enhance its job seeker services in the US. Breakroom will continue to operate independently.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 8:29 pm

CMPO

Resolute Holdings, led by David Cote, will acquire a majority interest in CompoSecure (NASDAQ: CMPO) by purchasing 49.3 million Class A shares for $372 million. David Cote will become the Executive Chairman, and the transaction will simplify the corporate structure by eliminating the dual-class share system.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 8:03 pm

BHP

VALE

BHP Group (NYSE:BHP) is considering selling Brazilian copper and gold assets acquired from Oz Minerals, including the Pedra Branca project. This move is part of a strategic review following an unsuccessful bid for Anglo American. BHP has engaged Banco Santander SA for advice on the potential sale.

Portfolio Pulse from Stjepan Kalinic

August 07, 2024 | 7:29 pm

CVS

GTHX

PETQ

STEM

TLIS

UPST

XPON

U.S. stocks turned lower with the Dow Jones index dipping over 200 points. CVS Health Corp (NYSE:CVS) shares fell over 1% after mixed Q2 earnings and a cut in annual profit guidance. Upstart Holdings, Inc. (NASDAQ:UPST) shares surged 48% on better-than-expected Q2 results. G1 Therapeutics, Inc. (NASDAQ:GTHX) shares rose 66% following an acquisition announcement. PetIQ, Inc. (NASDAQ:PETQ) shares increased 48% on strong Q2 earnings. Stem, Inc. (NYSE:STEM), Expion360 Inc. (NASDAQ:XPON), and Talis Biomedical Corporation (NASDAQ:TLIS) saw significant declines.

Portfolio Pulse from Avi Kapoor

August 07, 2024 | 6:38 pm

CLMB

Climb Global Solutions shares are trading higher after the company reported better-than-expected Q2 adjusted EPS results and announced the acquisition of Douglas Stewart Software & Services.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 5:38 pm

FMCX

KKR

LBO

KKR & Co. Inc. (NYSE:KKR) is supporting a management buyout of Japanese system developer Fuji Soft to take it private, valued at approximately $4.09 billion. Fuji Soft aims to enhance its capital efficiency amid conflicts with major shareholders. Additionally, KKR's joint venture signed an agreement to acquire MercuryGate International Inc. Investors can gain exposure to KKR via FM Focus Equity ETF (NYSE:FMCX) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO). KKR shares are up 1.57% following the news.

Portfolio Pulse from Lekha Gupta

August 07, 2024 | 4:47 pm