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Acquisitions Mergers

PARA

CNBC's 'Last Call' host Brian Sullivan humorously compared Paramount Global's (NASDAQ:PARA) recent earnings call to Led Zeppelin's 'Stairway to Heaven' due to their similar lengths, noting the call's brevity and the significant announcement of CEO Bob Bakish's departure amid merger talks with Skydance Media. The call, lasting 8 minutes and 48 seconds, also covered Paramount's Q1 earnings, where they missed revenue estimates but beat earnings expectations. The company is in advanced negotiations to buy out controlling shareholder Shari Redstone, coinciding with the planned exit of four directors.

Portfolio Pulse from Benzinga Neuro

April 30, 2024 | 5:56 am

MCD

McDonald's Corporation (NYSE:MCD) is anticipated to report higher Q1 earnings with an expected EPS of $2.72, up from $2.63 year-over-year, and revenue of $6.16 billion, up from $5.9 billion. The company plans to repurchase all its franchises in Israel amid Middle East tensions. Shares rose 0.2% to $273.55 recently. Analysts have adjusted their price targets and ratings, with changes reflecting a mix of maintained ratings and reduced price targets.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 5:06 am

AMD

KTOS

META

PLTR

TDOC

TWOU

Cathie Wood's Ark Invest purchased over $4M worth of shares in Palantir Technologies Inc (PLTR) and Meta Platforms Inc (META), ahead of Palantir's Q1 earnings and following Meta's strong revenue report. Ark Invest also sold shares of Teladoc Health Inc (TDOC), 2U Inc (TWOU), and Kratos Defense and Security Solutions Inc (KTOS), while buying shares of Advanced Micro Devices Inc (AMD).

Portfolio Pulse from Benzinga Neuro

April 30, 2024 | 4:12 am

CMCSA

WBD

NBCUniversal, owned by Comcast (CMCSA), is reportedly ready to offer $2.5 billion annually for NBA broadcast rights, outbidding Warner Bros. Discovery's (WBD) TNT. TNT, a long-time NBA partner, paid $1.2 billion under its current deal but failed to secure a new agreement before the exclusive negotiating window closed, allowing NBC to step in with its offer.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:52 pm

AON

An investor group led by Riverside is set to acquire The Townsend Group from Aon. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 9:58 pm

FANG

Diamondback Energy and Endeavor have received a request for additional information from the FTC regarding their merger, extending the HSR Act waiting period until 30 days after compliance with the request.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 9:51 pm

PARA

PARAA

Matrix Asset Advisors' President & CIO criticizes the sale to Skydance, stating it only benefits Shari Redstone and is highly dilutive for shareholders. The firm expresses strong disapproval of the actions taken by Shari and the Board.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 9:07 pm

BHP

FEAM

GLDG

USAU

VALE

BHP Group and Vale have proposed a $24.88 billion settlement for the 2015 Mariana dam disaster. 5E Advanced Materials announced the first production of boric acid, aiming to establish a U.S.-based boron supply chain. GoldMining reduced a royalty on its Crucero gold project to enhance project value. U.S. Gold's shareholders approved the election of five directors and ratified Marcum, LLP as the independent accountant.

Portfolio Pulse from austin@walkonholdings.com

April 29, 2024 | 9:07 pm

PARA

Matrix Asset Advisors' David Katz suggests Paramount (PARA) should open its sale process to multiple suitors instead of being exclusive with Skydance. He believes the current quarter's performance could make Paramount more attractive to potential buyers like Sony and Apollo.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 9:07 pm

BWMX

Betterware de México (BWMX) clarifies its agreement to sell the Jafra México office building in Mexico City, countering a Bloomberg report about the sale's cancellation. The sale, valued at Ps. 385.7 million, is part of a strategy to offload non-strategic assets and reduce debt. Proceeds will be received over three years, and Jafra México plans to relocate to a more modern, leased office in June 2024 to enhance competitiveness and employee well-being.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:35 pm