Streetbeat News

Acquisitions Mergers

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares surged after receiving an $827 million incentive package from the State of Illinois for plant expansion and workforce development. The funds will support the expansion of Rivian's Normal, IL plant, public infrastructure improvements, and job training programs. Rivian's CEO expressed gratitude for the state's support, highlighting the partnership's role in bringing the R2 midsize SUV to market and enhancing EV consumer choice. Rivian's stock has risen over 18% in the past five days, with a 6.62% increase to $9.82 at the time of publication.

Portfolio Pulse from Erica Kollmann

May 02, 2024 | 7:24 pm

PARA

PARAA

Paramount shares surged after reports emerged that Sony and Apollo have made a $26 billion acquisition offer for the company. This significant bid highlights the value seen in Paramount's assets and operations, potentially setting the stage for a major shakeup in the media and entertainment industry.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:12 pm

AY

Atlantica Sustainable Infrastructure Plc (AY) shares are trading higher due to reports of ECP discussing acquisition of the company.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:10 pm

CSLR

Complete Solaria, Inc. (NASDAQ:CSLR) announced a debt-for-equity swap with Kline Hill Partners, issuing 9.8 million shares to cancel debt and an additional agreement to buy 3.7 million warrants. The swap is contingent on agreements with other lenders, highlighting Carlyle's resistance.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:09 pm

AY

ECP is reportedly in advanced discussions to acquire Atlantica Sustainable Infrastructure plc, according to Bloomberg. This potential acquisition could significantly impact Atlantica's operations and market positioning.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:05 pm

FTEC

MGM

MSFT

XLK

The SEC concluded its investigation into potential insider trading by Barry Diller, Alexander von Furstenberg, and David Geffen regarding their investments in Activision Blizzard before its acquisition by Microsoft Corp for $75 billion, finding no grounds for charges. This acquisition, Microsoft's largest, faced global regulatory challenges before completion. The investigation's closure and Microsoft's leading role in the AI revolution, likened to an 'iPhone Moment', could impact investor sentiment and stock performance.

Portfolio Pulse from Anusuya Lahiri

May 02, 2024 | 6:43 pm

PARA

SONY

Sony and Apollo have proposed a $26 billion all-cash acquisition of Paramount, as reported by the Wall Street Journal. This significant move could reshape the entertainment industry landscape, merging Paramount's vast content library with Sony's extensive entertainment and technology assets.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 5:37 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares surged due to new contracts for supplying cryogenic equipment to a multinational industrial gas company and a statewide electric utility. The company, which acquired Applied Cryo Technologies in 2021, is also finalizing an agreement with another leading industrial gas company and has secured deals for cryogenic trailers for the Canadian market and LNG cryogenic mobile storage equipment. Deliveries are expected to start in early 2025, with PLUG shares up 6.09% to $2.44.

Portfolio Pulse from Nabaparna Bhattacharya

May 02, 2024 | 5:36 pm

PARA

SONY

Sony and Apollo have shown interest in acquiring Paramount for $26 billion, according to a New York Times report.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 5:30 pm

CNHI

EATV

KROP

CNH Industrial N.V. (NYSE:CNHI) shares rose after reporting Q1 FY24 results with revenue of $4.82 billion, surpassing the $4.37 billion consensus despite a 10% Y/Y decline. Net sales in Industrial Activities dropped 14% Y/Y to $4.13 billion, with Agriculture and Construction segments also seeing declines. Adjusted EPS was $0.33, beating the $0.27 consensus. The company revised its 2024 EPS outlook downwards and expects lower global industry retail sales. CNH will change its NYSE ticker to 'CNH' on May 20. Investors can also gain exposure through ETFs KROP and EATV.

Portfolio Pulse from Lekha Gupta

May 02, 2024 | 5:26 pm