Streetbeat News

Acquisitions Mergers

FQVLF

RIO

Rio Tinto (NYSE:RIO) and Saudi Arabia's Manara Minerals Investment are reportedly interested in acquiring First Quantum Minerals' (OTCPK: FQVLF) Zambian assets, including the Sentinel and Kansanshi mines valued at $6 billion. These mines are significant for First Quantum, accounting for about half of its copper output and revenue last year. The sale is part of First Quantum's restructuring efforts, which also include cost-cutting and raising capital through stock sales and note offerings. Zambia's mining sector, crucial for these operations, faces challenges such as energy supply issues, declining ore grades, and fiscal policies.

Portfolio Pulse from Stjepan Kalinic

April 18, 2024 | 3:39 pm

MSFT

Microsoft's $13 billion investment in OpenAI is under scrutiny by EU antitrust regulators, who are considering an investigation to determine if the partnership restricts competition within the EU. While not currently investigated under EU merger rules, concerns exist about Microsoft's market power and potential distortion of competition. The European Commission is gathering evidence and has not yet decided to proceed with an investigation. Microsoft holds a non-voting position on OpenAI's board without owning any part of the company.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:39 pm

AGBA

AILE

LVS

SPCB

Las Vegas Sands Corp. (LVS) shares fell by around 7% despite reporting better-than-expected Q1 results, with earnings of 75 cents per share and sales of $2.96 billion. Other stocks also showed significant movement, with AGBA Group Holding Limited (AGBA) and Tian Ruixiang Holdings Ltd (TIRX) among the top gainers, while iLearningEngines Holdings, Inc. (AILE) and SuperCom Ltd (SPCB) led the losers.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 3:32 pm

ACMR

AMD

HHUSF

ICG

INTC

KFVG

China mandates leading telecom operators to eliminate foreign semiconductors by 2027, impacting Intel and AMD, which derive significant revenues from China. Despite potential revenue loss, KraneShares CIO Brendan Ahern views the impact on Intel and AMD as limited, citing the directive's focus on government procurement. Ahern suggests the KraneShares CICC China 5G and Semiconductor Index ETF (KFVG) and stocks like Hua Hong Semiconductor (HHUSF), Intchains Group (ICG), and ACM Research (ACMR) as potential investment opportunities amid China's push for semiconductor self-sufficiency.

Portfolio Pulse from Surbhi Jain

April 18, 2024 | 3:12 pm

CARR

Carrier Global Corporation (NYSE:CARR) announced an investment and technology partnership with Strategic Thermal Labs for a liquid cooling solution for data centers. This partnership includes a board seat for Carrier and exclusivity in a differentiated solution, building on Carrier's acquisition of Nlyte in 2021. The liquid cooling market is expected to grow significantly, driven by AI data center builds.

Portfolio Pulse from Shivani Kumaresan

April 18, 2024 | 3:11 pm

CARR

Carrier Global (NYSE:CARR) has received mixed analyst ratings over the past quarter, with 3 somewhat bullish and 2 indifferent ratings. The 12-month price targets show an average of $64.2, with a slight decrease from the previous $64.25. Analysts from firms like Oppenheimer, Citigroup, Barclays, RBC Capital, and Wells Fargo have updated their ratings and price targets, reflecting various adjustments based on Carrier Global's performance and market conditions. Carrier Global, a manufacturer in HVAC, refrigeration, and fire and security products, plans to divest certain businesses and acquired Viessmann for $13 billion. Despite its market capitalization indicating a strong market position, Carrier Global faces challenges in revenue growth, profitability, and debt management.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 3:02 pm

AZUL

Azul SA is in advanced talks for a merger with Gol Linhas Aereas Inteligentes SA, facilitated by a stock-based deal with Gol's controlling shareholder, Abra Group Ltd. This deal would allow Abra Group to acquire a stake in the merged entity without affecting its ownership in Avianca Holding. The arrangement is appealing to Azul as it minimizes cash commitment.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 2:36 pm

META

Eduardo Saverin's $30K investment in Facebook, now Meta Platforms Inc. (META), led to significant personal wealth and influenced U.S. legislation. Saverin, a co-founder, became a billionaire when Facebook went public in 2012. His decision to renounce U.S. citizenship for tax reasons prompted Senator Chuck Schumer to propose the ex-PATRIOT Act, targeting individuals renouncing citizenship to avoid taxes. Saverin's initial investment is considered one of the best in modern history, with his net worth now at $26.9 billion.

Portfolio Pulse from Rounak Jain

April 18, 2024 | 2:34 pm

LHX

L3Harris is set to expand and modernize its solid rocket motor manufacturing facility in Virginia, with the majority of the $41.2M investment stemming from a cooperative agreement signed with the Department of Defense (DoD) last year through Aerojet Rocketdyne. The Commonwealth of Virginia and Orange County are providing approximately $2.18M in incentives to support the site improvement and construction efforts.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 2:19 pm

AAPL

RERE

The rise in smartphone recycling is attributed to a combination of factors including government initiatives, private sector participation, and economic conditions. President Xi Jinping's advocacy for a circular economy, the growth in used smartphone sales, and partnerships like that between ATRenew Inc. and Apple are key highlights. ATRenew's expansion into recycling various consumer goods and its commitment to ESG principles underscore the growing importance of sustainability in business practices.

Portfolio Pulse from The Bamboo Works

April 18, 2024 | 2:06 pm