Streetbeat News

Acquisitions Mergers

AAPL

ESLOY

META

Meta Platforms Inc. (NASDAQ:META) is set to acquire a 5% stake in EssilorLuxottica (OTC:ESLOY), the maker of Ray-Ban smart glasses. Financial expert Jim Cramer believes this move could significantly impact Meta's future in the wearable tech space. The deal, valued at approximately $5 billion, is expected to strengthen the partnership between the two companies and enhance Meta's position in the competitive wearable tech market. Meta's stock saw a rise following the news.

Portfolio Pulse from Benzinga Neuro

July 19, 2024 | 1:58 am

PLNH

Planet 13 has expanded its footprint with the acquisition of VidaCann, adding 30 dispensaries in Florida and planning further expansion. The company also launched a lifestyle brand and apparel line to diversify revenue streams. Updates on stores in California and Illinois show growth despite market challenges. Vertical integration remains a key strategy for higher margins.

Portfolio Pulse from Nicolás Jose Rodriguez

July 18, 2024 | 11:08 pm

FCPT

Four Corners Property Trust (FCPT) has acquired a Buffalo Wild Wings property in Texas for $2.5 million. The property is located in a high-traffic area and is corporate-operated under a net lease. The transaction was priced at a cap rate consistent with previous FCPT transactions.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 9:59 pm

MNTS

Momentus has entered into convertible note and loan agreements to support its operations and funding opportunities. The company held its Annual Meeting of Stockholders, electing four Independent Directors. Momentus is now in compliance with Nasdaq Listing Rule 5620(a) after receiving notice from Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 9:33 pm

SM Energy has announced an upsized offering of $750 million of its 6.750% Senior Notes due 2029 and $750 million of its 7.000% Senior Notes due 2032. The proceeds will be used to fund a pending acquisition in the Uinta Basin, redeem existing notes, and cover related expenses.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 9:15 pm

AMGN

HRTS

LLY

NVO

PFE

TERN

VKTX

Eli Lilly and Novo Nordisk faced significant stock declines as new competitors entered the weight-loss drug market. Pfizer and Roche announced advancements in obesity treatments, challenging the duopoly of Eli Lilly's Zepbound and Novo Nordisk's Wegovy. The Tema GLP-1, Obesity and Cardiometabolic ETF (HRTS) fund reflects a diversified approach, investing in emerging GLP-1 players like Amgen, Terns Pharmaceuticals, and Viking Therapeutics.

Portfolio Pulse from Piero Cingari

July 18, 2024 | 8:59 pm

ABL

Abacus Life shares are trading higher after the company reported preliminary Q2 revenue results above estimates and announced a definitive agreement to acquire Carlisle Management Company.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 8:44 pm

OXY

Occidental Petroleum (OXY) announced that the waiting period under the Hart-Scott-Rodino (HSR) Act for its acquisition of CrownRock has expired. The deal is expected to close in August after the completion of the financing marketing period as per the CrownRock purchase agreement.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 8:23 pm

EQT

ETRN

Equitrans Midstream's merger agreement proposal with EQT Corp has been approved by a majority vote at a special meeting.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 8:22 pm

DOV

Dover Corporation (DOV) has acquired Demaco Holland, a company specializing in food processing equipment. The financial terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 8:18 pm