Streetbeat News

Acquisitions Mergers

XBP

XBP Europe Holdings Inc (NASDAQ:XBP) shares surged 58% to $2.07 after announcing a $40 million contract with His Majesty's Passport Office for a nationwide transformation project in the UK. The project, focusing on digitizing historical documents using XBP's AI-led platform, is set to be operational by summer 2024.

Portfolio Pulse from Henry Khederian

May 02, 2024 | 4:07 pm

MGX

Metagenomi's shares dropped following the mutual termination of their collaboration with Moderna on the primary hyperoxaluria type 1 (PH1) program. Additionally, JP Morgan downgraded Metagenomi's stock from Overweight to Neutral and reduced the price target from $16 to $6.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:59 pm

ATVI

MSFT

The SEC has concluded its investigation into the trades made by Barry Diller, Alexander von Furstenberg, and David Geffen on Activision Blizzard options before its acquisition by Microsoft, with no action planned against them. This ends the scrutiny over potential insider trading related to the high-profile merger announced in 2022.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:41 pm

CVX

HES

Chevron and Hess have announced their expectation to receive all necessary stockholder and regulatory approvals for their deal by mid-2024, according to a recent filing.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:19 pm

K

TOMS Capital Investment Management has acquired a significant stake in Kellanova and is actively engaging with the company, according to two sources.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:14 pm

APTV

HYMLY

Aptiv PLC (NYSE:APTV) reported Q1 earnings with an EPS of $1.16, surpassing expectations but with revenues slightly missing forecasts at $4.901 billion. The company saw growth in Asia and North America, offset by declines in Europe and South America. Aptiv announced a restructuring deal with Hyundai Motor (OTC:HYMLY) to reduce its equity interest in Motional from 50% to approximately 15%. Additionally, Aptiv raised its FY24 EPS outlook but lowered its revenue forecast. Shares surged 11.6% following the announcement.

Portfolio Pulse from Nabaparna Bhattacharya

May 02, 2024 | 3:13 pm

CMCSA

Comcast has been awarded over $61M by the Commonwealth of Pennsylvania to expand its network to unserved and underserved homes and businesses across 158 municipalities in 13 counties. This expansion, expected to complete by late 2026, will provide gigabit plus speeds and access to Comcast's suite of services including Xfinity Internet, TV, Streaming, Mobile, and Comcast Business Internet. The project is part of the Broadband Infrastructure Program funded by the CPF, with additional matching funding from Washington County. Comcast's expansion efforts in Pennsylvania also include significant investments in technology, infrastructure, digital equity, and community partnerships.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:12 pm

KMCM

Key Mining Corp (NASDAQ:KMCM) is set to IPO on May 3, offering shares at $2.25 each with a 180-day insider lock-up period ending on October 30, 2024. The company, in the exploration stage, focuses on developing two projects in Chile's Atacama Region.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 3:00 pm

CRMT

America's Car-Mart, Inc. (NASDAQ:CRMT) announced its agreement to acquire dealership assets of Texas Auto Center, excluding legacy finance receivables, expected to close in Q1 of fiscal year 2025. The acquisition aligns with Car-Mart's growth strategy, aiming to enhance customer outcomes, associate satisfaction, and shareholder value. Texas Auto Center, founded in 1995 by Bob and Erika Blankenship, is recognized for its high-performance culture and customer focus, making it a strategic fit for Car-Mart's expansion in Texas.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:02 pm

ANGH

Anghami Inc. (NASDAQ:ANGH), the leading MENA region music and entertainment streaming platform, reported an 18% increase in premium subscribers to 1.87 million and an 8% revenue growth in Q1 2024. Gross margin improved from 20% to 26%. The company highlighted its strategic focus on high-margin subscription channels and cost optimization, leading to a reduced operating loss from $5.4 million to $2.7 million. Anghami also completed a significant transaction with OSN Group, enhancing its digital entertainment offerings. Despite challenges in 2023, including currency devaluation and the Gaza war, Anghami's core subscription business continues to grow.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:49 pm