Streetbeat News

Acquisitions Mergers

PXS

Pyxis Tankers has entered into an agreement to acquire a Kamsarmax vessel for $30 million and has increased its share repurchase authority by $1 million.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 12:10 pm

ADUS

Addus HomeCare Corporation (ADUS) has announced its decision to divest its New York operations to HCS-Girling for up to $23 million. This move is part of Addus's strategic plan to streamline its operations and focus on core markets.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 12:06 pm

MBC

MasterBrand is set to acquire Supreme Cabinetry Brands, a manufacturer of premier cabinet brands. This acquisition is expected to enhance MasterBrand's product portfolio and market presence.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 11:07 am

CRAK

IEO

PSX

Phillips 66 (NYSE:PSX) is acquiring Pinnacle Midland Parent LLC for $550 million to expand its natural gas gathering and processing footprint in the Midland Basin. The acquisition includes the Dos Picos natural gas system and is expected to close by mid-2024. Phillips 66 aims to strengthen its Midstream business and create sustainable value for shareholders. The company recently reported first-quarter FY24 revenue of $36.436 billion, exceeding expectations, but missed on adjusted EPS. Investors can gain exposure to Phillips 66 through IShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) and VanEck Oil Refiners ETF (NYSE:CRAK).

Portfolio Pulse from Lekha Gupta

May 21, 2024 | 10:49 am

AEIS

Advanced Energy Industries, Inc. (NASDAQ:AEIS) has announced a £19.50 per share all-cash proposal to acquire XP Power Limited (LSE: XPP). This follows two previous proposals, all of which were rejected by XP Power's Board.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 6:30 am

KKR

KKR has acquired a minority stake in AI-driven healthcare revenue solutions provider Infinx. This investment aims to leverage KKR's experience in healthcare and technology to accelerate Infinx's growth, expand its network, and support bolt-on acquisitions. Norwest Venture Partners, an existing shareholder, also participated in the transaction.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 5:53 am

AMD

ARKF

ARKQ

SHOP

Cathie Wood's Ark Invest made significant trades, purchasing shares of Shopify Inc (SHOP) and Advanced Micro Devices Inc (AMD). Ark Invest's ETFs, including ARKF and ARKQ, were involved in these trades. Shopify's stock fell after its Q1 earnings report, but Ark Invest saw potential and bought 34,060 shares. AMD shares were also purchased, valued at $1.74 million, despite recent underperformance compared to Nvidia. Additionally, Ark Invest sold shares of Global-E Online Ltd (GLBE), Robinhood Markets Inc (HOOD), Exact Sciences Corp (EXAS), and Teladoc Health Inc (TDOC), while buying shares of CRISPR Therapeutics AG (CRSP).

Portfolio Pulse from Benzinga Neuro

May 21, 2024 | 2:56 am

DJT

Trump Media & Technology Group (NASDAQ:DJT) reported a $327.6 million loss in its first earnings report since going public, primarily due to non-cash expenses from its merger with Digital World. The company generated $770,500 in revenue from its nascent advertising initiative and remains focused on long-term product development.

Portfolio Pulse from Kaustubh Bagalkote

May 21, 2024 | 1:47 am

BHP

HL

NUE

STLD

X

Nippon Steel is pushing for a $14.1 billion acquisition of U.S. Steel despite opposition from union leaders and the Biden administration. Hecla Mining released its 2023 Sustainability Report highlighting ESG achievements. BHP's $43 billion bid for Anglo American faces challenges. Jefferies initiated coverage on Steel Dynamics and Nucor with Hold ratings.

Portfolio Pulse from Austin DeNoce

May 20, 2024 | 9:48 pm

AA

Alcoa Corp. (NYSE:AA) and Alumina Limited have entered into an amended Scheme of Implementation Deed, with the transaction expected to complete in Q3 2024. Allan Gray Australia supports the transaction. CITIC Group will receive a portion of its consideration in non-voting convertible preferred stock to comply with U.S. regulations.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 8:39 pm