Streetbeat News

Acquisitions Mergers

HKD

AMTD Digital reported H1 EPS of $0.41, up from $0.15 YoY, with revenue at $8.7M, down from $13.9M YoY. Despite global challenges, the company saw gains from hotel operations, financial assets, and subsidiary disposals. Expenses varied, with significant increases in premises, office, and other expenses, largely due to the acquisition of AMTD Assets Group. The period ended with a profit of $30.1M.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 9:10 pm

ABAT

ATI

BVN

PLL

TSLA

ATI reported Q1 2024 earnings with revenue of $1.04 billion and net income of $66 million. Piedmont Lithium announced Q1 2024 shipments and record production, aiming for full-year shipments of 126,000 dmt. Buenaventura reported increased EBITDA and net income, with significant developments in its mining operations. American Battery Technology appointed former Tesla executive Scott Smith as VP of financial planning and analysis.

Portfolio Pulse from austin@walkonholdings.com

April 30, 2024 | 9:05 pm

HAIN

Hain Celestial Group (NASDAQ:HAIN) announced strategic actions to simplify its portfolio and operating footprint, aiming to reduce complexity and strengthen its balance sheet. The company is reducing its portfolio assortment by 62%, consolidating its personal care manufacturing footprint, and streamlining its co-manufacturing network globally. These actions are part of the Hain Reimagined business strategy, focusing on driving a core portfolio of brands across five categories and leveraging scale and synergies across five core geographies. The initiatives include global SKU reductions, the sale of the Thinsters cookie brand, and the consolidation of manufacturing plants, which are expected to unlock annualized savings, generate operating cash flow to pay down debt, and drive gross margin expansion.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:58 pm

INVH

Invitation Homes has entered into a joint venture with Quarterra, acquiring a minority equity interest in a portfolio of 4,400 single-family homes for lease, which are part of the Upward America Joint Venture. Invitation Homes will manage these homes within its core markets and invest in the joint venture.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:57 pm

VST

Financial analysis reveals a bearish sentiment among big money traders on Vistra (NYSE:VST), with options trading indicating a target price range of $27.0 to $90.0. Despite this, Vistra's current stock price is down by -2.72%, with an average analyst price target of $80.5. The company, a major power producer and retail energy provider, recently acquired Energy Harbor and has a significant presence in the US energy market.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 8:46 pm

PCG

PG&E is close to selling a significant stake in its power generation business to KKR, aiming to fund wildfire prevention measures. The deal involves creating a new subsidiary, Pacific Generation, to house its hydroelectric, natural gas, solar, and battery facilities, of which 49.9% will be sold to KKR, pending regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:41 pm

AAPL

BIDU

FXI

KWEB

MCHI

TSLA

Tesla Inc (TSLA) and Apple Inc (AAPL) are making strategic moves in China, with Tesla partnering with Baidu Inc (BIDU) for driver assistance features and Apple expanding its production in Southeast Asia and India. These developments, along with optimistic projections from analysts at UBS and Goldman Sachs for China's tech market, suggest a potential 40% upside. ETFs like KraneShares CSI China Internet ETF (KWEB), iShares MSCI China ETF (MCHI), and iShares China Large-Cap ETF (FXI) offer investment opportunities in this growth trajectory.

Portfolio Pulse from Surbhi Jain

April 30, 2024 | 8:13 pm

AGBA

AGBA Group Holding Ltd (NASDAQ:AGBA) shares surged after detailing plans for its merger with Triller, focusing on scaling, monetization, and strategic acquisitions. The merger values the combined company at $4 billion, with Triller becoming a wholly-owned subsidiary. AGBA's stock rose 20.43% to $2.83, with trading volume significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

April 30, 2024 | 8:10 pm

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrency markets ended April with significant losses, with Bitcoin, Ethereum, and Dogecoin down 16%, 19%, and 40% respectively. The launch of new Hong Kong Bitcoin ETFs, described as potentially a 'complete failure' by WhaleWire, contributed to the downturn. The ETFs' poor performance, with an average of $1.8 million each, marked the worst ETF launch in history. Additionally, $380 million in positions were liquidated in the last 24 hours, with Bitcoin exchange net flows dropping by 16.1%. Analysts note Bitcoin's current position near the 100-day EMA could lead to a major price rebound or further declines.

Portfolio Pulse from Khyathi Dalal

April 30, 2024 | 8:05 pm

LLY

Eli Lilly (LLY) reported a mixed Q1 with revenue of $8.77 billion, slightly missing expectations but with an adjusted EPS of $2.58, beating consensus. Mounjaro sales underperformed, while Zepbound exceeded expectations. The company is focusing on increasing supply for incretin products and expects significant growth in 2024. Lilly recently acquired a manufacturing facility to boost production. Discussions also touched on expanding payor access for Zepbound and the potential for tirzepatide to secure Part D reimbursement for obesity comorbidities.

Portfolio Pulse from Vandana Singh

April 30, 2024 | 7:11 pm