Streetbeat News

Acquisitions Mergers

WY

Weyerhaeuser Company (NYSE:WY) has acquired 84,300 acres of high-quality timberlands in Alabama for $244 million. The acquisitions are expected to enhance the company's Southern Timberlands portfolio and deliver strong cash flow and harvest tons per acre.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 8:11 pm

VIOT

Viomi Technology has announced a business restructuring agreement to divest its IoT@Home business for RMB65 million. The company will now focus on its core home water solution business and aims to enhance operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 7:02 pm

EW

Edwards Lifesciences Corp (NYSE:EW) reported Q2 adjusted EPS of $0.70, beating estimates, but sales of $1.632 billion missed expectations. TAVR sales grew 5%, but U.S. growth was below expectations due to hospital workflow pressures. The company announced acquisitions of JenaValve Technology and Endotronix, with minimal revenue contribution expected in 2025. Guidance for TAVR sales growth was lowered, and EW stock fell 28.7%. William Blair maintains an Outperform rating.

Portfolio Pulse from Vandana Singh

July 25, 2024 | 6:36 pm

EW

F

PBM

POAI

Edwards Lifesciences Corporation (NYSE:EW) shares fell sharply after reporting worse-than-expected Q2 sales and issuing weak Q3 guidance. Despite beating EPS estimates, the stock dipped 26.9%. The company also acquired JenaValve and Endotronix. Other notable movers include Predictive Oncology Inc. (NASDAQ:POAI), Psyence Biomedical Ltd. (NASDAQ:PBM), and Ford Motor Company (NYSE:F).

Portfolio Pulse from Avi Kapoor

July 25, 2024 | 6:12 pm

IZEA

IZEA Worldwide, Inc. (NASDAQ:IZEA) has acquired The Reiman Agency, a sports and celebrity marketing firm. The financial terms were not disclosed. Alden Reiman, the founder and CEO of The Reiman Agency, will become the Managing Director at IZEA.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 6:01 pm

HP

PSCE

XES

Helmerich & Payne, Inc. (NYSE:HP) is acquiring KCA Deutag for $1.9725 billion, significantly expanding its presence in the Middle East. The acquisition will increase H&P's Middle East rig count from 12 to 88 and is expected to be immediately accretive to cash flow. The transaction is anticipated to close by the end of 2024.

Portfolio Pulse from Lekha Gupta

July 25, 2024 | 6:00 pm

INTC

MU

QQQ

SPY

Intel has appointed Dr. Naga Chandrasekaran from Micron Technology as its new chief global operations officer, effective August 12. This leadership change is part of Intel's strategy to strengthen its AI chip manufacturing capabilities. Intel aims to achieve $1 billion in software revenue by 2027 and expects to ship chips for over 100 million AI PCs by 2025. The stock has lost 8% in the last 12 months, and investors can gain exposure through ETFs like QQQ and SPY.

Portfolio Pulse from Anusuya Lahiri

July 25, 2024 | 5:50 pm

COOP

Mr. Cooper Group shares are trading higher following the release of better-than-expected Q2 financial results and the announcement of a $1.4 billion acquisition of a residential mortgage servicing business.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 5:28 pm

HP

Helmerich & Payne shares are trading higher after the company reported better-than-expected Q3 financial results and announced an agreement to acquire KCA Deutag in a $1.97B cash deal.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 4:47 pm

EVX

IDU

SRCL

WM

Waste Management, Inc. (NYSE:WM) shares are trading lower after reporting worse-than-expected Q2 financial results. Sales and adjusted EPS missed consensus estimates, despite revenue growth and margin expansion. The company reiterated its FY24 outlook and highlighted ongoing sustainability projects. WM recently agreed to acquire Stericycle, Inc. (NASDAQ:SRCL) for approximately $7.2 billion. Investors can gain exposure via VanEck Environmental Services ETF (NYSE:EVX) and IShares U.S. Utilities ETF (NYSE:IDU).

Portfolio Pulse from Lekha Gupta

July 25, 2024 | 4:22 pm