Streetbeat News

Acquisitions Mergers

COIN

DDOG

DKNG

PLTR

RKLB

TWST

Cathie Wood's Ark Invest made notable trades by purchasing $29M worth of Palantir (PLTR) shares and selling over $15M in Coinbase (COIN) shares. The move to buy PLTR came despite its recent dip following its Q1 financial results and softer guidance. Meanwhile, the sale of COIN shares occurred amidst a softening Bitcoin price and regulatory actions against Robinhood, a Coinbase competitor. Other trades included selling DraftKings (DKNG), buying Rocket Lab USA (RKLB), selling Twist Bioscience (TWST), and buying Datadog (DDOG).

Portfolio Pulse from Benzinga Neuro

May 08, 2024 | 3:27 am

CMCSA

DIS

Disney is enhancing its streaming service by adding an ESPN tile to Disney+ for U.S. subscribers, aiming to include select live games and studio programming by end of 2024. CEO Bob Iger also announced a shift in Marvel's content strategy to focus on quality over quantity, reducing the number of TV series and films produced annually. Additionally, Iger expressed confidence in securing a long-term NBA rights deal for ESPN. These strategic moves come as Disney's direct-to-consumer segment reaches profitability, despite moderating growth in its parks segment. Disney is also in negotiations with Comcast Corporation over Hulu's valuation.

Portfolio Pulse from Kaustubh Bagalkote

May 08, 2024 | 3:18 am

CRC

California Resources (CRC) anticipates its Q2 capital program to be between $50M-$57M, excluding impacts from the pending Aera Merger. Post-merger, CRC plans to update its guidance. Additionally, following a Court of Appeals decision, CRC's 2024 capital program is expected to range from $200M to $240M, contingent on current permitting conditions.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:59 pm

ADTH

AdTheorent Holding Company, Inc. (ADTH) announced the expiration of the HSR waiting period for its acquisition by Cadent, LLC for $3.21 per share in cash, totaling approximately $324 million. This step marks a significant condition met towards finalizing the acquisition.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:57 pm

STKS

The ONE Group Hospitality, Inc. (STKS) projects its 2024 total GAAP revenues to be between $700M-$740M, factoring in the addition of Benihana to its portfolio.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:49 pm

TIXT

TU

TELUS Corporation has completed the acquisition of Vumetric Cybersecurity, enhancing its cybersecurity offerings for businesses in North America. This move aims to improve cyber resilience among organizations of varying sizes by integrating Vumetric's advanced penetration testing services, which focus on identifying cyber vulnerabilities and threats.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:45 pm

CWH

LCII

LCI Industries, through its subsidiary Lippert Components, has acquired the furniture business assets of CWDS, LLC, a subsidiary of Camping World Holdings, effective May 3, 2024. This acquisition aims to expand Lippert's furniture portfolio for the RV and marine industries, expecting to create synergies and enhance customer experience. Both companies anticipate this deal to strengthen their long-standing partnership, focusing on improving RV installations, enhancements, and repairs through Lippert's product offerings and Camping World's dealership network.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:43 pm

GVA

Granite Construction (NYSE:GVA) is expanding its presence in the Inland Empire, California, by opening a new office in Ontario. This move is part of Granite's strategy to strengthen its market position and support regional growth. The company aims to enhance local infrastructure, foster client relationships, and participate in upcoming projects. Granite's commitment is highlighted by its involvement in significant projects like the $25 million Hub at Ontario, set to begin in June 2024, and its focus on local hiring and community contribution.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:37 pm

UMAC

Unusual Machines, Inc. (NYSE:UMAC) has formalized Allan Evans as CEO for two years, following significant corporate developments including NYSE American listing, acquisitions of Rotor Riot and Fat Shark from Red Cat Holdings, reincorporation in Nevada, and joining the Red Cat Futures Initiative. The company is focusing on U.S.-based drone component production compliant with NDAA, aiming for a U.S.-made flight controller for FPV drones by Q2 2024 for Blue UAS certification. Leadership changes and the appointment of Salberg & Company as the new audit firm were also announced.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:31 pm

NVEI

Nuvei has announced the suspension of its earnings conference calls and financial outlook due to a proposed take-private transaction with Advent. The company has also withdrawn its FY24 financial outlook and medium and long-term targets.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:26 pm