Streetbeat News

Acquisitions Mergers

CGDXF

GOLD

Barrick Gold Corp (NYSE:GOLD) is expanding its operations in Peru, targeting the Puno district amidst a surge in gold demand, with prices reaching $2,300 per ounce. The company, which has increased its gold reserves to 77 million ounces, is also focusing on projects in Nevada and globally, including strategic investments in copper. Barrick's expansion efforts come at a time when gold prices have risen by approximately 11% year-to-date, driven by geopolitical uncertainties and expectations of interest rate cuts by the Federal Reserve.

Portfolio Pulse from Stjepan Kalinic

April 05, 2024 | 2:50 pm

MCD

McDonald's Corp (NYSE:MCD) is acquiring its Israeli operations from Alonyal Ltd, which has managed the franchise for over 30 years with about 225 restaurants and 5,000 employees. This move follows controversy during the Israel-Hamas war, with McDonald's planning to find a new franchisee for the region soon. MCD shares dropped by 0.90% to $267.67.

Portfolio Pulse from Shivani Kumaresan

April 05, 2024 | 2:33 pm

AMD

Advanced Micro Devices (NASDAQ:AMD) has seen a mix of bullish and bearish options trading activity, with a notable volume of trades predicting a price range of $145.0 to $200.0. The company, known for its CPUs and GPUs, has recently acquired FPGA leader Xilinx. Currently, AMD's stock is up by 1.37% at $168.11, with analysts giving mixed ratings but an average target price of $218.0.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 2:31 pm

MDIA

MediaCo Holding Inc. (NASDAQ:MDIA) shares surged after an SEC filing revealed Standard General L.P. holds a 95.2% stake. The stock's heavy trading volume and high short interest contribute to its volatility. Year to date, MDIA shares have soared 289.85%, significantly outperforming historical averages. The stock's RSI of 93.41 suggests overbought conditions, indicating potential for future price adjustments.

Portfolio Pulse from Erica Kollmann

April 05, 2024 | 2:27 pm

LHX

L3Harris Technologies Inc (NYSE:LHX) is selling its antenna and related businesses to an affiliate of Kanders & Company, Inc. for $200 million, aligning with its strategy to refine its portfolio by divesting non-core assets. The deal includes $175 million in cash and a $25 million seller note, with proceeds expected to be used in line with the company's capital allocation plans. The divested assets are part of the Space & Airborne Systems segment and employ about 375 people. The transaction is anticipated to close this quarter, pending customary closing conditions and regulatory approvals. LHX shares dropped 1.45% to $206.54 following the announcement.

Portfolio Pulse from Shivani Kumaresan

April 05, 2024 | 2:09 pm

GOOGL

HUBS

Hubspot shares are experiencing an increase in value due to ongoing positive momentum, which has been further fueled by reports that Alphabet is considering making an offer to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 2:00 pm

GE

GE Aerospace's stock is experiencing an uptick after the successful completion of the GE Vernova spin-off.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:52 pm

XXII

22nd Century Group, Inc. (NASDAQ:XXII), a tobacco products company, announced a new contract manufacturing agreement expected to increase its carton production volumes by over 20%. The contract starts in Q2 2024, aligning with the company's goals to grow its contract manufacturing business and its VLN® franchise focused on tobacco harm reduction. This move is anticipated to scale revenue, improve gross margin, and achieve breakeven operations by Q1 2025.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:43 pm

CHK

OILT

PXE

SWN

The merger between Chesapeake Energy Corporation (CHK) and Southwestern Energy Company (SWN) is delayed to the second half of 2024 due to an FTC request for additional information. Initially expected to close in Q2 2024, the $7.4 billion all-stock deal faces regulatory scrutiny, extending the HSR Act waiting period. Investors can track these stocks through Invesco Energy Exploration & Production ETF (PXE) and Texas Capital Texas Oil Index ETF (OILT). CHK's stock slightly declined.

Portfolio Pulse from Lekha Gupta

April 05, 2024 | 1:35 pm

HUBC

Hub Cyber Security Ltd. (NASDAQ:HUBC) shares surged 41.3% in premarket trading after announcing an $8 million financing acquisition via a straight debt arrangement and the successful cash acquisition of QPoint Technologies. The financing is aimed at strengthening the company's financial foundation and supporting strategic initiatives. The acquisition of QPoint is seen as a strategic move to enhance cross-selling opportunities across various sectors.

Portfolio Pulse from Nabaparna Bhattacharya

April 05, 2024 | 1:23 pm