Streetbeat News

Acquisitions Mergers

ALK

Alaska Air CEO expects the DOJ to complete its review of the Hawaiian Airlines acquisition deal by August 5. The company also adjusted its full-year capacity growth expectation to be less than 2.5%.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 3:46 pm

LILM

Saudia Group has signed a global agreement to acquire 50 Lilium jets, with options to purchase 50 more. Financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 3:08 pm

CHUY

COMM

CTAS

DHI

VIRT

Cintas Corporation (NASDAQ:CTAS) reported better-than-expected quarterly earnings and revenues, leading to a 5.3% rise in its stock price. Other notable stock movements include Chuy’s Holdings (NASDAQ:CHUY) surging 47.6% after announcing an acquisition by Darden Restaurants (NYSE:DRI), and CommScope Holding (NASDAQ:COMM) jumping 19% following Amphenol's acquisition plans. Virtu Financial (NASDAQ:VIRT) and D.R. Horton (NYSE:DHI) also saw significant gains due to strong financial results.

Portfolio Pulse from Avi Kapoor

July 18, 2024 | 2:29 pm

PWR

Quanta Services shares are trading higher after the company completed the acquisition of Cupertino Electric.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 1:40 pm

CMCSA

PARA

T

VOX

WBD

XLC

Warner Bros Discovery Inc (NASDAQ:WBD) shares are surging as the company considers asset sales and a potential spin-off of its digital streaming and studio businesses. CEO David Zaslav aims to manage the company's $39 billion debt and improve its struggling share price. Informal talks with advisors to rival media companies have taken place, and a strategic spin-off could provide financial flexibility for the growing streaming and studio business. The company's shares have plummeted nearly 70% since its spin-off from AT&T Inc (NYSE:T) two years ago.

Portfolio Pulse from Shivani Kumaresan

July 18, 2024 | 1:18 pm

HOLI

Hollysys Automation Technologies Ltd. (NASDAQ:HOLI) announced that it expects to complete its merger transaction with Ascendent Capital Partners by July 25, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 1:13 pm

APH

COMM

Amphenol is set to acquire CommScope's Outdoor Wireless Networks and Distributed Antenna Systems businesses for $2.1 billion in cash. The deal will add advanced antenna and interconnect technologies to Amphenol's portfolio, complementing its existing offerings for next-gen wireless networks. The acquisition is expected to be accretive to Amphenol's diluted EPS in the first full year post-closing.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 1:08 pm

VFC

V.F. Corporation (NYSE:VFC) announced the sale of its Supreme brand to EssilorLuxottica for $1.5 billion in cash. The sale is expected to be dilutive to VF's earnings per share in the 2025 fiscal year. Supreme contributed $538 million in revenue and $166 million in operating income during VF's 2024 fiscal year. Analysts have adjusted their price targets for VF following the announcement.

Portfolio Pulse from Avi Kapoor

July 18, 2024 | 12:47 pm

META

Meta Platforms Inc. is considering a multibillion-dollar investment in EssilorLuxottica, the maker of Ray-Ban, to expand their smart glasses partnership.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 12:13 pm

BCAL

CALB

Southern California Bancorp (NASDAQ:BCAL) and California BanCorp (NASDAQ:CALB) have received shareholder approvals for their merger. The merger will result in Southern California Bancorp being the surviving entity, which will be renamed California BanCorp. Additionally, the board of directors' allowable range will be expanded.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 12:12 pm