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Acquisitions Mergers

PARA

PARAA

Skydance Media and its private equity backers are planning to finalize a deal with Paramount Global by May, which will see Skydance valued at around $5B and merged with Paramount Global. David Ellison is set to become CEO of Paramount Global, with Jeff Shell as President. The deal involves raising approximately $4.5B-$5B in new equity.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:46 pm

PARA

Paramount Global and Skydance Media are nearing a merger, with a deal potentially closing in May. The merger involves valuing Skydance at around $5 billion and merging it with Paramount Global. David Ellison is set to become CEO, and Jeff Shell as president, replacing current CEO Bob Bakish. A significant hurdle remains with Paramount's carriage renewal with Charter Communications, which could impact the deal's value. Additionally, Apollo and Sony have shown interest in buying out Paramount Global shareholders, but the special committee favors Skydance's offer for its future upside and cleaner balance sheet. Paramount's reliance on traditional TV and upcoming earnings report add complexity to the negotiations.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:39 pm

GFS

ON

Semiconductor stocks ON Semiconductor (NASDAQ:ON) and Globalfoundries Inc (NASDAQ:GFS) are trading near their 52-week lows as they approach Q1 earnings, part of the MANGO group aiming to emulate FAANG success. Despite recent declines, ON and Globalfoundries are considered undervalued based on P/E and EV/Sales ratios, with analysts seeing potential upside. The broader MANGO group shows varied performance, with Nvidia, Broadcom, and AMD leading in growth.

Portfolio Pulse from Surbhi Jain

April 25, 2024 | 7:14 pm

SPGI

S&P Global Inc. (NYSE:SPGI) reported Q1 earnings of $4.01 per share, surpassing the consensus estimate of $3.66, and a 27.3% increase from last year. Quarterly sales were $3.49 billion, exceeding estimates of $3.42 billion, marking a 10.47% year-over-year increase. The company credits strong execution for operating margin expansion and plans to repurchase $1.3 billion in shares through Q3 2024. CEO Douglas Peterson highlighted record revenue and investments in AI, sustainability, and private markets. S&P Global raised its full-year 2024 revenue outlook to 6%-8% and expects adjusted earnings between $13.85 and $14.10 per share.

Portfolio Pulse from Erica Kollmann

April 25, 2024 | 6:24 pm

TMUS

The FCC has approved T-Mobile's acquisition of Mint Mobile, a move that could significantly impact T-Mobile's market position by expanding its customer base and service offerings.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 6:12 pm

GCOW

QUVU

UL

Unilever PLC (NYSE:UL) shares rose following its Q1 FY24 earnings report, showing a 1.4% Y/Y turnover increase to 15.0 billion euros, with underlying sales growing 4.4%. The company saw strong performance across its Power Brands, Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream segments. Unilever reiterated its FY24 sales growth outlook of 3% to 5%, with a focus on volume growth. Last month, Unilever announced plans to separate its Ice Cream business. UL shares are up 6.22% at $51.06.

Portfolio Pulse from Lekha Gupta

April 25, 2024 | 5:43 pm

DOOR

OC

Masonite shareholders have approved a transaction with Owens Corning, as reported by Bloomberg. This approval marks a significant step in the collaboration or merger between the two companies, potentially impacting their market positions and financial outlooks.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 5:11 pm

FSR

Fisker, under CEO Henrik Fisker, is in discussions with four automakers regarding a potential acquisition. The company, facing financial difficulties, has warned of possible bankruptcy within 30 days without additional liquidity. Fisker has $54 million in cash as of April 16 and is working with Deutsche Bank to find a buyer. A previous deal with an automaker, rumored to be Nissan, fell through earlier this year.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 5:00 pm

CARR

CSD

FPX

Carrier Global Corp (CARR) shares surged following its Q1 FY24 earnings report, with a 17% Y/Y increase in net sales to $6.18 billion, slightly below consensus. Adjusted operating profit rose 44% Y/Y to $927 million, and adjusted EPS of $0.62 beat the consensus of $0.51. The company highlighted the transformative acquisition of Viessmann Climate Solutions and provided an updated FY24 outlook, expecting adjusted EPS of $2.80-$2.90 and sales of ~$26 billion. Investors can also gain exposure to CARR through ETFs like FPX and CSD.

Portfolio Pulse from Lekha Gupta

April 25, 2024 | 4:57 pm

DIVD

IDVO

TM

Toyota Motor Corporation (NYSE:TM) shares fell after announcing a $1.4 billion investment in its Princeton facility for electric SUV production. This move is part of Toyota's broader $18.6 billion U.S. investment for electrification, including a new battery pack assembly line in Indiana, creating up to 340 jobs. Despite a 68% stock increase over the past year, TM shares dropped 3.47% to $224.79. Investors can also access TM through ETFs like IDVO and DIVD.

Portfolio Pulse from Nabaparna Bhattacharya

April 25, 2024 | 4:44 pm