Streetbeat News

Acquisitions Mergers

HEES

H&E Equipment Services (HEES) has revised its FY24 capital investment forecast to $350M-$400M, down from the previously projected $450M-$500M. The company plans to continue its branch expansion strategy, aiming to open 12 to 15 new locations in 2024. This adjustment comes as equipment availability from manufacturers normalizes. HEES also highlights its growth through acquisitions, including the recent purchase of Precision Rental and the pending acquisition of four locations in Montana, which will bring its total to 145 branches across 30 states by the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:17 am

HRMY

Harmony Biosciences acquires Epygenix Therapeutics for $35M, with potential development and sales milestone payments totaling $645M. EPX-100, their lead candidate for rare epilepsy conditions, is in a pivotal trial with topline data expected in 2026, indicating a significant market opportunity.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:14 am

GIS

General Mills (GIS) has announced the acquisition of Edgard & Cooper, expanding its pet food portfolio as part of its Accelerate strategy. This move is aimed at enhancing General Mills' position in the fast-growing pet food market, leveraging Edgard & Cooper's unique brand and product offerings.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:10 am

DCPH

OPHLY

ONO Pharmaceutical Co., Ltd. has entered into a definitive agreement to acquire Deciphera Pharmaceuticals, aiming to expand its oncology portfolio. This strategic move is expected to enhance ONO's position in the global pharmaceutical market by integrating Deciphera's innovative cancer treatments.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:04 am

THC

Tenet Healthcare has raised its FY24 revenue outlook to $20B-$20.40B, up from $19.90B-$20.30B, surpassing the $20.37B estimate. Adjusted EPS is now expected to be $8.37-$9.41, significantly higher than the $6.11 estimate. This updated outlook follows the sale of nine hospitals in South Carolina and California.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:53 am

MOS

Mosaic shares are trading higher following the announcement of a share purchase and subscription agreement with Saudi Arabian mining company Ma'aden.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:48 am

HAP

HJEN

SHEL

Nigeria's oil regulator has begun evaluating Shell plc's divestment of its Nigerian onshore subsidiary, SPDC, to Renaissance, a consortium. The $1.3 billion sale includes assets with significant oil and gas reserves. The evaluation will cover financial and technical capabilities, labor relations, and community obligations. Shell also signed a deal to supply gas to Nigeria's Brass methanol facility. Investors can track Shell's stock through Direxion Hydrogen ETF and VanEck Natural Resources ETF.

Portfolio Pulse from Lekha Gupta

April 30, 2024 | 10:19 am

MOS

Mosaic has entered into a Share Purchase and Subscription Agreement with the Saudi Arabian Mining Company (Ma'aden), where Mosaic will receive 111,012,433 shares of Ma'aden, valued at approximately $1.5 billion. This is in exchange for Mosaic's current 25 percent stake in the Ma'aden Wa'ad Al Shamal Phosphate Company, a joint venture among Mosaic, Ma'aden, and Saudi Basic Industries Corporation.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:16 am

LIVE

LL

LL Flooring's stock price increased following the announcement of a non-binding acquisition proposal at $2.50 per share and a cooperation agreement with Live Ventures regarding director nominations.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:14 am

VZIO

WMT

Walmart has received a request from the FTC for additional information and documentary material related to its merger review with Vizio.

Portfolio Pulse from Charles Gross

April 30, 2024 | 10:12 am