Streetbeat News

Acquisitions Mergers

GVA

Granite Construction announced an agreement to acquire Dickerson & Bowen, Inc. for an undisclosed amount, with the transaction expected to close in Q3.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 10:52 am

ITT

ITT Inc. has agreed to acquire kSARIA Parent, Inc., a producer of mission-critical connectivity solutions for the defense and aerospace markets, for approximately $475 million. The acquisition is expected to close in the third quarter of 2024, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 10:32 am

ECX

VOLVF

Ecarx has sold a minority stake in HaleyTek to Volvo Cars. The terms of the deal were not disclosed. Ecarx will continue to collaborate with Volvo and HaleyTek on developing automotive software.

Portfolio Pulse from charles@benzinga.com

August 01, 2024 | 10:09 am

EXLS

EXL (NASDAQ:EXLS) has acquired ITI Data to enhance its data management capabilities for banks and healthcare companies. Financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 9:31 am

CVX

HES

XOM

Chevron's $53 billion acquisition of Hess faces delays due to arbitration claims by Exxon and CNOOC over a Guyana oil joint venture. The arbitration decision is expected in the second half of 2025, adding uncertainty for Chevron and Hess investors.

Portfolio Pulse from Benzinga Neuro

August 01, 2024 | 7:46 am

FERG

Ferguson Enterprises Inc. has completed a merger to establish a new corporate structure, making it the new parent company of Ferguson plc. Ferguson plc shareholders received shares in Ferguson Enterprises Inc., and the company's stock will now trade on the NYSE and LSE under the symbol 'FERG'.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 7:14 am

PHAR

Pharming Group projects 2024 revenues between $280M and $295M, reflecting 14% to 20% growth. The company plans to expand its patient base for Joenja® therapy, increase ex-U.S. revenues, complete clinical trials, and seek regulatory approvals in multiple regions. Operating costs will be managed without significant cash burn, and potential acquisitions are being considered.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 5:44 am

HIVE

HIVE Digital Technologies Ltd. has signed agreements to develop a 100 MW hydroelectric data center in Paraguay. The project will utilize green energy from the Itaipu hydroelectric dam and aims to increase HIVE's Bitcoin mining capacity to 12.1 EH/s. The company has capped its investment at 100 MW due to fiscal policy changes.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 9:31 pm

HST

Host Hotels & Resorts, Inc. (NASDAQ:HST) has acquired the 1 Hotel Central Park for approximately $265 million in cash. The acquisition is expected to significantly enhance Host's portfolio, with the property projected to be among the company's top-10 assets based on 2024 estimates.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 8:31 pm

MSFT

NTDOY

SONY

Microsoft's Q4 earnings report shows a 42% decline in Xbox hardware sales, continuing a downward trend. However, overall gaming revenue surged 44% year-over-year, driven by the acquisition of Activision Blizzard. Industry-wide, major console makers like Sony and Nintendo also saw declines in hardware sales.

Portfolio Pulse from Franca Quarneti

July 31, 2024 | 8:11 pm