Streetbeat News

Acquisitions Mergers

LL

LL Flooring Holdings has received a non-binding proposal to be acquired for $2.50 per share. The company's board, in consultation with financial and legal advisors, is in constructive discussions and negotiating the proposal, which has not yet been accepted.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:17 pm

HOLX

Hologic is set to acquire Endomagnetics for about $310M. Endomagnetics, with $35M in revenue for 2023, will have a slight dilutive effect on Hologic's adjusted EPS in FY24, breakeven in 2025, and be accretive thereafter.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:10 pm

CLW

Clearwater Paper's CEO, Arsen Kitch, anticipates ongoing strength in tissue performance and a rebound in paperboard demand for the current year. He also believes that customer de-stocking has largely concluded. Additionally, Kitch expressed enthusiasm about finalizing the acquisition of Augusta and welcoming their team to Clearwater Paper.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:08 pm

KOPN

Kopin Corporation (NASDAQ:KOPN) has received a third production order for its OLED microdisplays from the Indian Armed Forces, for use in thermal imaging vision systems. The order includes over 1,200 units to be delivered over six months. This expansion into the India defense market signifies a broadening of Kopin's customer base and an increase in its addressable market, highlighting the company's commitment to high performance, quality, and reliable delivery of its products.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:05 pm

BYND

Impossible Foods' CEO announced plans for a 'liquidity event' within the next two to three years, which could include an IPO, a sale, or a capital raise. This strategic move aims to enhance the company's financial flexibility and growth prospects.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 7:41 pm

CPRI

TPR

The court hearing for the Tapestry-Capri deal is scheduled for September 9, as decided by a judge, according to Bloomberg. This hearing is a critical step in the process of finalizing the acquisition.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 7:36 pm

BHP

FQVLF

First Quantum Minerals (OTCPK: FQVLF) is permanently closing its Ravensthorpe nickel mine in Western Australia, leading to the loss of 330 jobs. The decision comes after months of production suspension and is attributed to ongoing financial losses and the expectation of lower nickel prices. Nickel prices have significantly dropped, influenced by increased production in Indonesia. The closure reflects broader challenges in the nickel mining sector, with BHP's (NYSE:BHP) Nickel West operation also identified as under pressure. The impact of this closure is seen as a negative development for the local community and the nickel mining industry in Western Australia.

Portfolio Pulse from Stjepan Kalinic

April 29, 2024 | 6:54 pm

ADXN

ANVS

CAUD

CLVR

DCPH

ON

PHG

U.S. stocks saw modest gains with the S&P 500, Nasdaq, and Dow all trading higher. ON Semiconductor reported better-than-expected Q1 results but projected Q2 revenues below consensus. Deciphera Pharmaceuticals surged after an acquisition announcement by ONO Pharmaceutical. Collective Audience and Koninklijke Philips also saw significant gains, while Clever Leaves, Addex Therapeutics, and Annovis Bio experienced sharp declines.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 6:34 pm

BIDU

IWM

TSLA

U.S. stocks opened positively, with major indices rising ahead of key events including tech earnings, a Federal Reserve meeting, and the April jobs report. Tesla surged 16% on a partnership with Baidu for its Full Self-Driving system in China. Small caps outperformed, and the iShares Russell 2000 ETF rose 0.9%. The Bank of Japan intervened to support the yen, causing a significant forex market movement. Natural gas prices jumped 7%, while Bitcoin saw a decline. Sector-wise, consumer discretionary and utilities stocks led gains.

Portfolio Pulse from Piero Cingari

April 29, 2024 | 6:14 pm

AVGO

GOOG

GOOGL

META

MRVL

MSFT

NVDA

TSLA

Microsoft, Meta, and Alphabet are significantly increasing their investments in AI infrastructure, spending over $32B in Q1 2024. This move indicates a strategic shift towards foundational AI technology, with a focus on data centers and AI chips. The investment spree is expected to benefit chip manufacturers like Broadcom and Marvell, as well as companies like Nvidia, which are directly involved in AI hardware development. Tesla also plans to invest $10B in AI by 2024.

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 5:44 pm