Streetbeat News

Acquisitions Mergers

CG

IG Metall expresses skepticism towards a potential IPO through a spin-off and plans initial discussions in early May. Carlyle Group is conducting due diligence for acquiring a majority stake in TKMS.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 2:50 pm

CG

The IG Metall Union in Germany reported that it had initial discussions last week with Carlyle Group (CG) regarding a potential investment in Thyssenkrupp Marine Systems. The union emphasized that a sale to private equity investors like Carlyle would only be feasible if the government intervenes to safeguard naval shipbuilding. Both parties aim to finalize a Best-And-Fair-Owner Agreement swiftly.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 2:50 pm

AMZN

CMCSA

DIS

WBD

The battle for NBA media rights is intensifying with Comcast Corporation's NBCUniversal nearing a deal for $2.5 billion annually, potentially outbidding Warner Bros. Discovery, which risks losing its current rights. Disney is expected to renew its deal at $2.6 billion annually, a significant increase from its current payment. Amazon is also in talks for streaming rights, indicating a shift towards streaming platforms for sports broadcasting. This shift underscores the importance of sports rights in attracting and retaining cable and streaming subscribers.

Portfolio Pulse from Chris Katje

April 30, 2024 | 2:49 pm

LLY

Eli Lilly is advancing its plans to boost manufacturing capacity, including FDA approval for a Wisconsin facility acquired from Nexus Pharma. The company aims to start production by the end of 2025, as demand for Tirzepatide still exceeds supply despite increased production.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 2:46 pm

NEM

Newmont (NYSE:NEM) has seen a significant surge in options activity, with a bearish stance by big-money investors. Benzinga's options scanner revealed 13 unusual trades, indicating a mixed sentiment with 38% bullish and 53% bearish. The trades suggest a target price range of $30.0 to $55.0 for Newmont. The company, the world's largest gold miner, recently acquired Newcrest and is expected to sell some higher cost mines. Current stock price is down -2.67% at $41.13, with analysts giving mixed ratings.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 2:31 pm

MMM

SOLV

3M Company (NYSE:MMM) shares rose after reporting better-than-expected Q1 2024 results, with slight sales decline but higher adjusted EPS and operating margin. The company spun off its healthcare business into Solventum Corporation (NYSE:SOLV), retaining a 19.9% stake. 3M plans to monetize this stake within five years and returned $835 million to shareholders via dividends. The company also settled a lawsuit with U.S. public water suppliers for up to $10.3 billion. 3M's fiscal 2024 outlook includes adjusted sales growth of (0.25%) to +1.75% and adjusted EPS of $6.80-$7.30.

Portfolio Pulse from Akanksha Bakshi

April 30, 2024 | 2:16 pm

LVMHF

LVMH is reportedly considering options for its Marc Jacobs brand due to interest from potential buyers, according to Bloomberg. This move could indicate a strategic shift or divestiture for LVMH to focus on its more profitable segments or to capitalize on the high demand for luxury brands.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 2:15 pm

HPH

Highest Performances Holdings Inc. (NASDAQ:HPH) has signed a third supplementary agreement with White Group to fund Zhongxin International Sports Group for bidding on sports event intellectual property rights. HPH will acquire 26.5% equity in Zhongxin and jointly invest in major sports events with White Group, including International Tennis Federation events and Formula 1 World Championship events in China.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 2:13 pm

NVDA

Nvidia Corp. CEO Jensen Huang's initial pitch to start the company was criticized as one of the worst, yet it led to funding from Sequoia Capital due to a recommendation. Nvidia, initially focusing on GPUs for gaming, has successfully pivoted to cryptocurrency mining and now AI, becoming the third most valuable listed company with a market cap of almost $2.2 trillion. Huang emphasizes the importance of one's past and relationships over pitching skills in business success.

Portfolio Pulse from Rounak Jain

April 30, 2024 | 2:00 pm

PRFT

Perficient, symbol PRFT, is reportedly considering a potential sale. This news could indicate a significant strategic shift for the company, potentially attracting interest from buyers or investors looking for acquisition opportunities.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:52 pm