Streetbeat News

Acquisitions Mergers

SRCL

Stericycle is considering a sale after receiving takeover interest, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 7:10 pm

VFC

Axios reported that VF Corp, the parent company of brands like Vans, Timberland, and The North Face, might be taken private. This comes amid a strategic review, potential divestitures, and recent earnings reports.

Portfolio Pulse from Charles Gross

May 24, 2024 | 6:48 pm

MAT

PONGF

Atari SA (OTC:PONGF) has acquired Intellivision, ending a long-standing rivalry in the video game industry. The acquisition includes Intellivision's brand and a library of over 200 games, but not the Intellivision Amico console project. Atari plans to expand the distribution of Intellivision games and explore new opportunities. Intellivision will retain rights to develop the Amico and will collaborate with Atari on licensing.

Portfolio Pulse from Franca Quarneti

May 24, 2024 | 5:38 pm

AMZN

GOOGL

VOX

WMT

XLC

Google, a subsidiary of Alphabet Inc., has invested in Flipkart, boosting the Indian e-commerce giant's valuation to $37 billion. This investment, led by Walmart, includes a $350 million stake from Google and a $600 million investment from Walmart. The collaboration aims to modernize Flipkart's digital infrastructure. Speculations about Flipkart's IPO continue as Walmart explores the right timing for it.

Portfolio Pulse from Shivani Kumaresan

May 24, 2024 | 5:00 pm

CHRD

ERF

Enerplus shareholders have approved the acquisition by Chord Energy, with the deal expected to close around May 31, 2024, pending a final court order and other conditions.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:43 pm

AAPL

AES

MRVL

SNX

Hedge funds adjusted their portfolios in Q1 2024, focusing on AI-related infrastructure stocks and cyclical sectors. Positions in several 'Magnificent Seven' tech stocks were trimmed, except for Apple. Marvell Technology, TD Synnex, and AES Corporation saw increased hedge fund interest.

Portfolio Pulse from Piero Cingari

May 24, 2024 | 4:20 pm

EIPX

KEAT

TTE

TotalEnergies SE (NYSE:TTE) is considering cross-listing its shares in both the U.S. and the Euronext stock exchange. This move aims to offer shares to the American market while maintaining its European listings. The company is also exploring a primary listing in New York to facilitate U.S. investor access. TotalEnergies shares are trading higher by 1.68% following this news.

Portfolio Pulse from Nabaparna Bhattacharya

May 24, 2024 | 4:10 pm

International Paper shares are trading higher on reports that Suzano is in talks with Asian banks to fund a potential bid for the company.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 3:11 pm

EQX

Equinox Gold (AMEX:EQX) has successfully poured its first gold at the Greenstone project in Ontario, following a $1 billion acquisition. The project is expected to significantly boost Equinox's production capacity and cash flow, with projections of 199,000 ounces of gold production next year. Analysts are optimistic about the stock's performance as the project ramps up.

Portfolio Pulse from Stjepan Kalinic

May 24, 2024 | 2:25 pm

BABA

BABAF

Alibaba Group Holding Ltd (NYSE:BABA) plans to raise $4.5 billion through convertible bonds to fund share buybacks amidst fierce competition and a slow Chinese economic recovery. The bonds have a 0.5% coupon and a conversion price set at $105.04 per ADS. Despite the strategic move, Alibaba's stock has shown mixed technical signals and has experienced a recent decline.

Portfolio Pulse from Surbhi Jain

May 24, 2024 | 2:14 pm