Streetbeat News

Acquisitions Mergers

NLCP

Cannabis REIT NewLake Capital Partners Inc. (NLCP) reported a 10.4% increase in Q1 2024 revenue, reaching $12.6 million. Net income and FFO also saw year-over-year increases. The company highlighted its strategic expansion, including a $4 million acquisition of a Connecticut cultivation facility and a $12 million commitment for tenant improvements. NewLake's CEO expressed optimism about the cannabis industry's future, especially with potential marijuana rescheduling. NLCP's stock was up 0.33% at $20.35 per share.

Portfolio Pulse from Patricio Liddle

May 09, 2024 | 5:25 pm

TDS

Shares of Telephone and Data Systems (TDS) experienced a significant increase following a report by the Wall Street Journal stating that T-Mobile and Verizon are in discussions to potentially divide U.S. Cellular among themselves. This news suggests a major shakeup in the telecommunications sector, potentially impacting the competitive landscape and market shares of the involved companies.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 5:24 pm

TMUS

USM

T-Mobile (TMUS) and Verizon (VZ) are in talks to divide U.S. Cellular (USM), with T-Mobile nearing a deal to purchase parts of the carrier for over $2 billion. This acquisition includes operations and spectrum licenses, aiming to enhance their wireless network capabilities.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 5:22 pm

HGV

Hilton Grand Vacations Inc. (NYSE:HGV) reported a strong first-quarter FY24 performance with sales rising to $1.16 billion from $934 million a year ago, surpassing the consensus estimate of $1.12 billion. The company saw an increase in real estate sales and financing segment revenues to $687 million, and total contract sales grew by $108 million Y/Y to $631 million, including contributions from Bluegreen Vacations. Adjusted EBITDA and EPS both exceeded expectations, and the company continued its share repurchase program. HGV reiterated its FY24 guidance for Adjusted EBITDA and highlighted its focus on integrating Bluegreen Vacations and exploring new growth avenues.

Portfolio Pulse from Lekha Gupta

May 09, 2024 | 4:52 pm

SNDA

Sonida Senior Living, Inc. (SNDA) announced the completion of a senior living community acquisition in Ohio, expanding its portfolio to 72 communities. The company is also in the process of acquiring eight additional communities with joint venture partners, expected to close in Q2 2024. Furthermore, Sonida plans to broaden its management footprint with three new communities in June 2024. To fund these acquisitions, Sonida raised approximately $10.3 million through an At-the-Market equity offering program in April 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 4:36 pm

REG

Regency Centers has acquired the Compo Shopping Centers in Westport, Connecticut, expanding its retail footprint to nearly 120,000-square feet with the combined operations of Compo I & II and the adjacent Compo Acres. The financial terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 4:18 pm

WIT

Wipro Infrastructure Engineering's Hydraulics Business, Wipro Hydraulics, has signed a definitive agreement to acquire Mailhot Industries, a leader in hydraulic cylinder manufacturing in North America. Mailhot, a Novacap portfolio company based in Quebec, Canada, specializes in hydraulic cylinders for refuse trucks and snow removal equipment. The acquisition, pending regulatory approvals, also includes JARP Industries, known for custom and remanufactured cylinders in various sectors.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 4:17 pm

CRM

GOOGL

META

MSFT

NVDA

French AI startup Mistral AI, founded by ex-Google and Meta researchers, is nearing a deal to raise capital at a $6 billion valuation, aiming to challenge Silicon Valley's dominance in AI. The funding round includes backers like General Catalyst and Lightspeed Venture Partners. Mistral's growth, with a valuation jump to over $2 billion in a year, showcases investor interest despite the competitive landscape dominated by firms like OpenAI. Mistral, advocating for open-source AI tools, has raised over $500 million, with investments from Nvidia, Microsoft, and Salesforce.

Portfolio Pulse from Shivani Kumaresan

May 09, 2024 | 4:11 pm

NEM

Newmont (NYSE:NEM) has seen a bullish trend in its options market, with 63% of traders showing bullish sentiment. The options trading activity suggests investors are targeting a price range of $25.0 to $47.5 for Newmont. The company, the world's largest gold miner, recently acquired Newcrest, planning to sell higher cost, smaller mines. Currently, NEM's stock is slightly up at $41.6, with analysts giving an average target price of $50.0. The options market dynamics and recent acquisitions indicate a positive outlook for Newmont.

Portfolio Pulse from Benzinga Insights

May 09, 2024 | 4:01 pm

ARKF

ARKK

ARKQ

ARKX

PLTR

Palantir Technologies, Inc. (NYSE:PLTR) stock dipped nearly 5% over the past five days following its Q1 earnings report, despite a 21% revenue increase year-over-year. Ark Invest purchased 1,353,667 shares of Palantir across four ETFs. Analysts have mixed ratings on PLTR, with an average 12-month price target of $24. HSBC and Citigroup raised their price targets post-earnings.

Portfolio Pulse from Erica Kollmann

May 09, 2024 | 3:52 pm