Streetbeat News

Acquisitions Mergers

AZN

AstraZeneca's CEO, Pascal Soriot, stated that the company does not need further mergers and acquisitions. He also mentioned that the Inflation Reduction Act could impact the company's top line by $500 million. Soriot aims to nearly double sales by 2030 and has no plans to retire.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 1:27 pm

STM

The European Commission has approved a €2 billion Italian state aid to support STMicroelectronics (NYSE:STM) in establishing a chip manufacturing facility in Catania, Sicily. The plant will produce Silicon Carbide (SiC) power devices, contributing to Europe's technological self-sufficiency and digital sovereignty. The project aims to enhance the supply and resilience of semiconductor technologies crucial for digital and green transitions.

Portfolio Pulse from Shivani Kumaresan

May 31, 2024 | 1:09 pm

APM

On March 6, Aptorum Group entered into an Agreement and Plan of Merger with YOOV Group Holding, dated March 1. This merger agreement involves a plan of merger and separation.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 1:06 pm

CLDT

Chatham Lodging Trust has acquired the Home2 Suites by Hilton in Phoenix Downtown for $43.3 million. The acquisition is expected to produce a Revenue Per Available Room (RevPAR) of over $150.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 1:05 pm

MMC

Marsh McLennan Agency, a subsidiary of Marsh, has acquired Perkins Insurance Agencies, an independent agency based in Abilene, Texas. The terms of the acquisition were not disclosed. Perkins Insurance Agencies specializes in commercial property and casualty and personal lines coverage, particularly in the oil and gas, trucking, farm and ranch, and restaurant industries. All Perkins employees, including CEO Mark Perkins, will remain in their current offices.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 1:04 pm

FLEX

Flex has acquired FreeFlow to enhance its asset disposition and digital circular economy capabilities. FreeFlow's platform facilitates B2B sales of surplus inventory.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 1:02 pm

AIRC

AXR

LPA

WSR

As of May 31, 2024, four real estate stocks—AMREP Corporation (AXR), Apartment Income REIT Corp. (AIRC), Latam Logistic Properties, S.A. (LPA), and Whitestone REIT (WSR)—are considered overbought based on their RSI values. Investors should be cautious as these stocks may be flashing warning signs.

Portfolio Pulse from Avi Kapoor

May 31, 2024 | 12:51 pm

AMZN

BABA

CPNG

PDD

Alibaba and Coupang are intensifying their e-commerce battle in South Korea with significant investments. Alibaba is investing $1.1 billion in a new logistics center, while Coupang is focusing on advanced technologies and logistics. Both companies face competition from each other and other players like Naver and PDD Holdings.

Portfolio Pulse from Anusuya Lahiri

May 31, 2024 | 12:49 pm

AMD

ASML

INTC

NVDA

TSM

China has announced a $47.5 billion public fund to boost its self-reliance in manufacturing advanced chips, countering U.S. efforts to restrict its access to key technologies. The U.S. has also invested heavily in its semiconductor industry through the CHIPS Act, aiming to reduce reliance on Asian production and strengthen its geopolitical standing. Companies like NVIDIA, AMD, Intel, and Taiwan Semiconductor are mentioned as key players in the global semiconductor landscape.

Portfolio Pulse from Natan Ponieman

May 31, 2024 | 12:44 pm

PENN

PENN Entertainment shares are trading higher after shareholder Donerail Group sent a letter to the company's board suggesting that the company could see its stock price double in the event of a sale.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 12:41 pm