Streetbeat News

Acquisitions Mergers

AAPL

Tesla investor Ross Gerber predicts a new upgrade cycle for Apple Inc. (AAPL) following the announcement of AI features for iPhones, expected to be detailed at the WWDC in June. Despite a lack of specifics from CEO Tim Cook, the anticipation of AI integration has sparked interest. Apple's recent struggles with iPhone sales, dropping 16% in early 2024, could be mitigated by these developments. Additionally, Apple's acquisition of DarwinAI and the upcoming 'Project Graymatter' indicate a strong push into AI. Apple's stock rose 6.06% in premarket trading after the news.

Portfolio Pulse from Rounak Jain

May 03, 2024 | 11:42 am

TDS

Telephone And Data Systems (TDS) reaffirmed its 2024 guidance, with UScellular projecting service revenues between $2.95B-$3.05B and TDS Telecom expecting total operating revenues of $1.07B-$1.10B. TDS Telecom has added 28,000 marketable fiber service addresses in Q1 and aims to reach 125,000 by 2024. Additionally, TDS and UScellular are exploring strategic alternatives for UScellular, with the review process still active.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:37 am

KELYA

Kelly has announced an agreement to acquire Motion Recruitment Partners for $425M in cash, with an additional earnout potential of up to $60M. The acquisition will be funded through debt and available capital, including over $100M from the sale of Kelly's European staffing operations. The transaction is expected to close in Q2 2024, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:34 am

BA

EADSY

SPR

Airbus SE demands financial compensation from Spirit AeroSystems Holdings Inc to take over its loss-making operations, complicating discussions with Boeing Co. Negotiations are ongoing in New York, with Airbus and Boeing considering a structured deal to divide Spirit's operations. Spirit, a key supplier to both companies, has its operations, including those in Belfast and Kinston, NC, at the center of these discussions. Airbus's shares closed slightly lower.

Portfolio Pulse from Shivani Kumaresan

May 03, 2024 | 11:26 am

AAPL

Apple Inc. CEO Tim Cook announced a $100 billion investment in R&D over the past five years, focusing on AI, ahead of the Worldwide Developers Conference. Despite a lower capital expenditure compared to rivals, Apple is optimistic about its AI strategy. The company's approach includes using its own data centers and third-party capacity. Apple's stock has seen a 10% drop this year but announced a record share buyback program and a smaller-than-expected revenue drop. Challenges in China and competition from Huawei have impacted iPhone sales.

Portfolio Pulse from Benzinga Neuro

May 03, 2024 | 11:22 am

UNIT

Uniti Group's stock is trading higher following the announcement of a merger with Windstream Holdings II, indicating a positive market reaction to the news.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:05 am

UNIT

Uniti anticipates its latest combination will generate up to $100 million in annual operational expenditure (Opex) synergies and $20M-$30M in annual capital expenditure (Capex) savings within 36 months of closing.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:04 am

UNIT

Uniti Group is set to merge with Windstream Holdings II, with Uniti shareholders owning approximately 62% of the combined company's outstanding common equity. Windstream shareholders will receive $425 million in cash, $575 million of preferred equity, and common shares representing about 38% of the outstanding common equity. This strategic merger aims to consolidate their market positions and resources.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:03 am

LLAP

LMT

Terran Orbital's stock price has declined following Lockheed Martin's decision to withdraw its buyout proposal for the company.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:52 am

MRDB

MariaDB shares are trading lower following an announcement by Progress Software that it has no plans to make an offer for the company.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:48 am