Streetbeat News

Acquisitions Mergers

BCS

GM

GS

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

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