Streetbeat News

Acquisitions Mergers

AZTR

NUWE

PIRS

PRG

SGMO

U.S. stocks traded lower with the S&P 500 falling around 100 points. AT&T shares rose 5% after Q2 earnings, despite missing revenue estimates. Pieris Pharmaceuticals surged 78% on a merger agreement, while Sangamo Therapeutics rose 47% after a successful trial. PROG Holdings gained 21% on strong earnings. Azitra, Nuwellis, and Lamb Weston saw significant declines due to various financial issues.

Portfolio Pulse from Avi Kapoor

July 24, 2024 | 6:37 pm

RIOT

Riot Platforms, Inc. (NASDAQ:RIOT) shares are being closely watched as the broader markets and Bitcoin prices slip. Riot announced the acquisition of Block Mining, which will significantly increase its power resources and hashrate targets. Analysts have mixed views on Riot's short-term performance but remain bullish overall.

Portfolio Pulse from Erica Kollmann

July 24, 2024 | 5:38 pm

KKR

NXTV

PKW

TMUS

T-Mobile US, Inc. (NASDAQ:TMUS) and KKR & Co. Inc. (NYSE:KKR) have formed a joint venture to acquire Metronet's broadband infrastructure, residential fiber operations, and customer base. T-Mobile will invest $4.9 billion for a 50% stake in the JV, enhancing its 5G Home Internet and fiber partnerships. The deal is expected to close in 2025, pending regulatory approvals.

Portfolio Pulse from Lekha Gupta

July 24, 2024 | 5:31 pm

ALK

Hawaiian Holdings shares are trading lower due to an unconfirmed report suggesting that the DOJ will likely not approve the company's sale to Alaska Air.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 4:52 pm

ALK

Traders are closely monitoring Hawaiian Holdings as unconfirmed reports suggest that the Department of Justice (DOJ) is unlikely to approve its sale to Alaska Air.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 4:41 pm

TSN

WHGLY

WHGRF

WH Group plans to list its Smithfield pork subsidiary in a U.S. IPO, potentially raising $1 billion. The spinoff aims to support WH Group's overseas expansion, particularly in the U.S. and Europe. However, potential Chinese anti-dumping tariffs against European pork could impact the company's European operations.

Portfolio Pulse from The Bamboo Works

July 24, 2024 | 4:26 pm

ATMP

EINC

TRP

TC Energy Corporation (NYSE:TRP) is nearing a stake sale in its NGTL pipeline system to indigenous groups in Western Canada, supported by a C$1 billion loan guarantee from Alberta's government. This move is part of TC Energy's strategy to cut debt following cost overruns on the Coastal GasLink pipeline. The transaction is expected to be announced on July 30 and close in late August. Investors can gain exposure to TC Energy via VanEck Energy Income ETF (NYSE:EINC) and IPath Select MLP ETN (BATS:ATMP).

Portfolio Pulse from Lekha Gupta

July 24, 2024 | 3:44 pm

FCX

Freeport McMoRan (NYSE:FCX) has announced a $7.5 billion expansion of its El Abra copper mine in Chile, aiming to boost production to 340,000 metric tons of copper annually by 2025. The expansion includes a new concentrator plant and desalination infrastructure. Additionally, Freeport declared a $0.15 per share dividend and initiated stock buybacks.

Portfolio Pulse from Stjepan Kalinic

July 24, 2024 | 2:23 pm

RIOT

Riot Platforms Inc (NASDAQ:RIOT) has acquired Block Mining, a Kentucky-based Bitcoin miner, for $92.5 million. This acquisition significantly boosts Riot's power capacity and hashrate targets, positioning it as the second-largest U.S.-listed miner by capacity.

Portfolio Pulse from Surbhi Jain

July 24, 2024 | 1:12 pm

LITM

Snow Lake Resources has completed the 100% acquisition option for the Black Lake Uranium Project. The CEO announced plans for a 2024 exploration program, which includes an airborne survey and ground geophysics.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 1:11 pm