Streetbeat News

Acquisitions Mergers

ONDS

Ondas Holdings Inc. has received an initial purchase order for its Iron-Drone Raider C-UAS from an Israeli defense company, following a testing and integration process. This order is expected to lead to further orders from this and other customers.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:36 am

LKNCY

SBUX

VTI

XLY

Former Starbucks CEO Howard Schultz has called for a major overhaul of the company amid a sales slump, citing a need to revamp operations and improve the customer experience. Starbucks faces challenges from inflation, competition in China from Luckin Coffee, and a significant drop in sales due to various factors. The company's second-quarter results fell short of expectations, with a 4% decline in global comparable store sales and earnings missing analyst estimates. Despite these challenges, Schultz remains optimistic about Starbucks' recovery, especially in China. Starbucks stock has declined over 31% in the last 12 months, but shares are trading higher in premarket.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 10:31 am

IART

Integra LifeSciences has updated its FY24 revenue and adjusted EPS forecasts to $1.672B-$1.687B and $3.01-$3.11, respectively, from prior forecasts of $1.603B-$1.618B and $3.15-$3.25. This update reflects an 8.4%-9.4% reported growth and 3.3%-4.3% organic growth, considering the Acclarent acquisition and a $10M revenue adjustment from SurgiMend and PriMatrix relaunches.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:08 am

GRFS

Grifols and Haier have successfully completed all necessary government approval procedures for the transfer of a 20% stake in SRAAS. This marks a significant step in the collaboration between the two companies, potentially impacting Grifols' strategic positioning and financial outlook.

Portfolio Pulse from Charles Gross

May 06, 2024 | 10:04 am

IART

Integra LifeSciences (IART) updates its Q2 revenue forecast to $411M-$416M, surpassing the $395.8M estimate, with adjusted EPS of $0.60-$0.65, below the $0.75 estimate. For 2024, revenue is expected to be $1.672B-$1.687B with adjusted EPS of $3.01-$3.11, reflecting the Acclarent acquisition and organic growth.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:03 am

SHEL

Shell is reportedly in discussions with Saudi Aramco to sell its gas station business in Malaysia, with the deal potentially valued at up to $1 billion, according to Reuters citing sources.

Portfolio Pulse from Charles Gross

May 06, 2024 | 9:54 am

AMKBY

A. P. Moller Maersk (OTC:AMKBY), the world's largest container shipping company, announced that disruptions in the Red Sea, caused by attacks from Iran-aligned Houthi militants, are expected to reduce the shipping industry's capacity between the Far East and Europe by 15%-20% in Q2. These disruptions have forced vessels to reroute, leading to longer journey times and increased freight rates. Maersk has leased over 125,000 additional containers to enhance reliability and address the capacity shortage, with disruptions likely to persist until the end of the year.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 9:18 am

BRK

TSLA

Elon Musk expressed astonishment at Berkshire Hathaway's cash reserves reaching $189 billion, equivalent to Musk's own wealth. Berkshire Hathaway, led by Warren Buffett, increased its cash pile to a record level after selling $20 billion in stocks and purchasing $2.7 billion worth during Q1 2024. Musk, comparing the cash reserve to his wealth of $192 billion, suggested Buffett should invest in Tesla, which has seen a 25% stock rally post-Q1 2024 earnings but is still down 27% for the year. Berkshire Hathaway also reduced its Apple Inc. holdings significantly during the same period.

Portfolio Pulse from Rounak Jain

May 06, 2024 | 9:04 am

AZN

CLLS

Cellectis announced the completion of AstraZeneca's $140M additional investment, with the issuance of 10 million Class A and 18 million Class B convertible preferred shares at $5.00 each. This move, authorized by Cellectis' shareholders on December 22, 2023, strengthens the financial and strategic partnership between the two companies.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:11 am

KKR

KKR has acquired Healthium, an Indian medical device company, from Apax Funds. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:01 am