Streetbeat News

Acquisitions Mergers

SPR

Negotiations between Boeing and Spirit AeroSystems for a potential purchase are moving at a slow pace, according to a Bloomberg report.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 1:44 pm

AGBA

AGBA Group's shares are experiencing an increase in value due to sustained upward momentum following the announcement of a definitive merger agreement with Triller on Friday.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 1:24 pm

GEHC

GEV

GE Aerospace (NYSE:GE) reported a 15% YoY adjusted revenue growth for Q1 2024 to $8.1 billion, with orders up 34% to $11 billion. Consolidated revenue, including GE Aerospace and GE Vernova Inc. (NYSE: GEV), grew 11% YoY to $16.1 billion. Adjusted EPS for the consolidated company was $0.82, up from $0.27 a year ago. GE completed the separation of GE Vernova and monetized shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC), leading to a profit margin expansion and a share repurchase. The company raised its full-year profit and free cash flow guidance for 2024.

Portfolio Pulse from Akanksha Bakshi

April 23, 2024 | 1:13 pm

EFSH

1847 Holdings LLC announced its intention to sell its subsidiary, 1847 Cabinets, for $27.6 million. This strategic move is aimed at optimizing the company's portfolio and capitalizing on the subsidiary's value.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 12:33 pm

ARKK

META

NVDA

TSLA

Spot Bitcoin ETFs experienced a $35M net inflow on their first trading day post-halving, with Ark Invest predicting a significant rally for Bitcoin. Trump criticized Biden for allegedly favoring Meta, while US markets saw mixed results and political tensions continue. Nvidia's chips reached China despite a US ban, and Microsoft challenges OpenAI with a new AI model. Tesla faces scrutiny over its growth strategy and advertising, while Boeing deals with production and safety challenges. Visa and UBS Group are making strategic financial moves, and California celebrates a renewable energy milestone.

Portfolio Pulse from Akanksha Bakshi

April 23, 2024 | 12:15 pm

AMZN

VCR

XLY

Amazon.com Inc (NASDAQ:AMZN) has ceased its Prime Air drone delivery operations in Lockeford, California, and plans to expand to a new site in Tolleson, Arizona. The Lockeford site closure reasons were not disclosed, but Amazon assured reemployment for affected staff and continued service through alternative methods. The Tolleson site, part of the Phoenix metropolitan area, will start operations later this year, pending local and FAA negotiations. Amazon's drone delivery expansion faces regulatory challenges, with further expansions delayed until at least 2025. Amazon's stock has seen a 67% increase over the last 12 months, and exposure to AMZN can be gained through ETFs like SPDR Select Sector Fund - Consumer Discretionary (NYSE:XLY) and Vanguard Consumer Discretion ETF (NYSE:VCR).

Portfolio Pulse from Anusuya Lahiri

April 23, 2024 | 12:11 pm

ACN

AMZN

MRVL

UAL

Insiders at Amazon.com, United Airlines, Accenture, and Marvell Technology have recently sold shares. These sales come amidst various company developments, including acquisitions, positive analyst ratings, and strong financial results. Insider sales can indicate various strategic decisions but are not the sole factor for investment decisions.

Portfolio Pulse from Avi Kapoor

April 23, 2024 | 12:01 pm

HIBB

Hibbett, Inc. (NASDAQ:HIBB) shares surged 18.4% in pre-market trading after announcing its acquisition by JD Sports Fashion for $87.50 per share, valuing the deal at $1.1 billion. Other stocks showed significant movement in pre-market trading, with notable gainers including Pineapple Energy Inc., ImmunityBio, Inc., and Nuwellis, Inc., among others, due to various positive developments. Conversely, stocks like Abeona Therapeutics Inc., Greenwave Technology Solutions, Inc., and T2 Biosystems, Inc. experienced notable declines due to negative news or financial results.

Portfolio Pulse from Avi Kapoor

April 23, 2024 | 12:00 pm

HIBB

Hibbett's stock is trading higher following the announcement of its acquisition by JD Sports Fashion, indicating a positive market reaction to the news.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 11:34 am

CSGP

MTTR

Matterport, Inc. (NASDAQ:MTTR) shares are trading lower after a significant rise due to an acquisition agreement with CoStar Group, Inc (NASDAQ:CSGP). The deal, valued at approximately $2.1 billion in equity and $1.6 billion in enterprise value, involves a cash and stock transaction at $5.50 per share. Matterport stockholders will receive $2.75 in cash and $2.75 in CoStar Group stock per share. The transaction is expected to close within the year, pending Matterport stockholder approval.

Portfolio Pulse from Nabaparna Bhattacharya

April 23, 2024 | 11:12 am