Streetbeat News

Acquisitions Mergers

HAP

HJEN

SHEL

Nigeria's oil regulator has begun evaluating Shell plc's divestment of its Nigerian onshore subsidiary, SPDC, to Renaissance, a consortium. The $1.3 billion sale includes assets with significant oil and gas reserves. The evaluation will cover financial and technical capabilities, labor relations, and community obligations. Shell also signed a deal to supply gas to Nigeria's Brass methanol facility. Investors can track Shell's stock through Direxion Hydrogen ETF and VanEck Natural Resources ETF.

Portfolio Pulse from Lekha Gupta

April 30, 2024 | 10:19 am

MOS

Mosaic has entered into a Share Purchase and Subscription Agreement with the Saudi Arabian Mining Company (Ma'aden), where Mosaic will receive 111,012,433 shares of Ma'aden, valued at approximately $1.5 billion. This is in exchange for Mosaic's current 25 percent stake in the Ma'aden Wa'ad Al Shamal Phosphate Company, a joint venture among Mosaic, Ma'aden, and Saudi Basic Industries Corporation.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:16 am

LIVE

LL Flooring's stock price increased following the announcement of a non-binding acquisition proposal at $2.50 per share and a cooperation agreement with Live Ventures regarding director nominations.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:14 am

VZIO

WMT

Walmart has received a request from the FTC for additional information and documentary material related to its merger review with Vizio.

Portfolio Pulse from Charles Gross

April 30, 2024 | 10:12 am

ROK

Rockwell Automation is expanding its presence in India by opening a new manufacturing facility, aiming to strengthen its market position and meet growing demand in the region.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:05 am

CLOD

IGV

ORCL

Oracle Corp. (NYSE:ORCL) has more employees in California than in its Texas headquarters, despite moving there three years ago. Chairman Larry Ellison announced another move to Nashville, citing the city's healthcare sector prominence and quality of life. Despite the headquarters shift, Oracle maintains significant operations in California and has more employees in Missouri following the acquisition of Cerner in 2022. Oracle's stock has gained over 22% in the last 12 months, with exposure through Themes Cloud Computing ETF (NASDAQ:CLOD) and IShares Expanded Tech-Software Sector ETF (BATS:IGV).

Portfolio Pulse from Shivani Kumaresan

April 30, 2024 | 9:52 am

AAPL

GOOG

Apple has reportedly hired dozens of AI experts from Google, establishing a new AI research lab in Zurich, according to Financial Times. This move signifies Apple's aggressive expansion into AI, potentially enhancing its competitive edge in technology and innovation.

Portfolio Pulse from Charles Gross

April 30, 2024 | 9:22 am

BCS

Barclays is in discussions to acquire the GM credit card business from Goldman Sachs, with a deal involving approximately $2 billion of balances potentially being finalized by summer, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

April 30, 2024 | 9:07 am

AMD

ARKQ

BYDDY

QCOM

SOXX

TSM

Cathie Wood's Ark Invest engaged in significant stock purchases ahead of AMD's earnings report, buying shares in AMD, TSMC, and Qualcomm through its ARKQ ETF. Additionally, Ark bought shares in BYD Co. Ltd., a Chinese EV company backed by Warren Buffett. The iShares Semiconductor ETF (SOXX) also saw an increase. Ark's ARKK ETF closed up 2.41%.

Portfolio Pulse from Shanthi Rexaline

April 30, 2024 | 8:54 am

FCPT

Four Corners Property Trust (FCPT) has acquired a Patient First Urgent Care property in Pennsylvania for $6.6 million. The property, situated in a busy corridor, is under a triple net lease with about ten years left on its term. The deal was completed at a 7.1% cap rate on rent, excluding transaction costs.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:42 am