Streetbeat News

Acquisitions Mergers

Blackstone Inc. is increasing its commercial mortgage bond offering from $2 billion to $2.95 billion to help finance its $10 billion acquisition of AIR Communities. The upsize indicates strong investor demand for certain properties in the US commercial real estate sector.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 4:00 pm

EIPX

KEAT

SSEZY

TTE

TotalEnergies SE (NYSE:TTE) is selling its 10% interest in the SPDC JV licenses in Nigeria for $860 million to Chappal Energies. The sale includes 15 oil-producing licenses and three gas-producing licenses. TotalEnergies expects its hydrocarbon production to reach 2.45 Mboe/d in Q2. The company also formed a joint venture with SSE Plc (OTC:SSEZY) to establish an EV charging network in the U.K. and Ireland. TTE shares are up 0.76% to $68.84.

Portfolio Pulse from Lekha Gupta

July 17, 2024 | 3:57 pm

AMX

America Movil is open to mergers and acquisitions in Chile and is considering alternatives with Chile's WOM, which is currently in Chapter 11 bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 3:44 pm

ESLOF

VFC

V.F. Corporation (NYSE:VFC) shares surged after announcing the sale of its Supreme brand to EssilorLuxottica (OTC:ESLOF) for $1.5 billion in cash. The transaction is expected to close by the end of 2024 and will dilute VFC's earnings per share in FY25. The sale provides VFC with increased balance sheet flexibility and supports long-term growth.

Portfolio Pulse from Lekha Gupta

July 17, 2024 | 3:39 pm

DDOG

GOOG

GOOGL

GTLB

SKYY

VGT

GitLab Inc (NASDAQ:GTLB) is exploring a potential sale after receiving acquisition interest, with Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) holding a significant stake. The news has driven GitLab's stock price up by 8.36%. Datadog Inc (NASDAQ:DDOG) is among the interested parties. Investors can also gain exposure through ETFs like First Trust Cloud Computing ETF (NASDAQ:SKYY) and Vanguard Information Tech ETF (NYSE:VGT).

Portfolio Pulse from Anusuya Lahiri

July 17, 2024 | 2:55 pm

Alcoa Corporation (NYSE:AA) is set to release its Q2 financial results on July 17. Analysts expect earnings of 6 cents per share and revenue of $2.84 billion. Alcoa recently received stockholder approval for the acquisition of Alumina Limited. The stock closed at $38.66, down 1.6%. Analysts have revised their ratings and price targets, with Morgan Stanley upgrading to Overweight and Citigroup maintaining a Buy rating.

Portfolio Pulse from Avi Kapoor

July 17, 2024 | 2:16 pm

CIFR

Bitcoin miner Cipher is considering a sale amid takeover interest, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 1:59 pm

COF

Capital One announces a $265 billion Community Benefits Plan in connection with its acquisition of Discover. The plan includes significant investments in housing affordability, no-fee banking, small business growth, and community development financing.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 1:20 pm

AOS

FLR

GTES

Three industrial stocks, Gates Industrial Corporation (GTES), Fluor Corp (FLR), and A. O. Smith Corp (AOS), are currently overbought according to their RSI values. Investors should be cautious as these stocks have shown significant recent gains and may face short-term price corrections.

Portfolio Pulse from Avi Kapoor

July 17, 2024 | 1:06 pm

VSTO

Gates Capital Management opposes Vista Outdoor's proposed sale of The Kinetic Group to CSG, advocating instead for a tax-free spin-off or a cash offer for the entire company. Gates Capital, which owns 9.6% of Vista Outdoor, sent a letter to the Board of Directors expressing their intention to vote against the sale.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:34 pm