Streetbeat News

Acquisitions Mergers

HAIN

JJSF

Hain Celestial has finalized the sale of its Thinsters cookie brand to J&J Snack Foods, marking a strategic move for both companies involved.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:47 am

AMAT

FTXL

LRCX

NVDA

NXTE

Applied Materials Inc (NASDAQ:AMAT) may reconsider its $4 billion R&D facility in Silicon Valley due to insufficient federal funding, impacting its plans and potentially affecting other companies like Nvidia Corp (NASDAQ:NVDA) and Lam Research Corp (NASDAQ:LRCX). The Biden administration's decision not to finance semiconductor R&D facilities, despite a global semiconductor shortage, has led to challenges for California's semiconductor industry. Applied Materials, under investigation for allegedly exporting equipment to China's SMIC without proper licenses, reported Q1 fiscal 2024 sales of $6.71 billion, surpassing estimates. Investors can gain exposure to AMAT through First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) and Investment Managers Series Trust II AXS Green Alpha ETF (NYSE:NXTE).

Portfolio Pulse from Anusuya Lahiri

April 09, 2024 | 11:45 am

OWL

Blue Owl Capital has announced the acquisition of Prima Capital Advisors for $170M, with the deal expected to close in Q2 or Q3 of 2024. The acquisition, aimed at expanding Blue Owl's asset management capabilities, will be funded through equity and cash, with additional earnout consideration. Prima, managing $10 billion in assets, will integrate its employees into Blue Owl post-acquisition.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:08 am

SUN

Sunoco's pending acquisition of NuStar Energy has reached a significant milestone with the expiration of the Hart-Scott-Rodino Act waiting period, satisfying a crucial condition for completing the transaction.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:06 am

GABF

LBO

Blackstone Inc. (NYSE:BX) is reportedly nearing a deal to privatize L'Occitane, potentially ending its 14-year listing on the Hong Kong Stock Exchange. The deal, which could be announced soon, involves Blackstone offering debt financing for the acquisition. L'Occitane faces stiff competition in China from companies like L'Oreal Co. (OTC:LRLCF) and Estee Lauder Companies, Inc (NYSE:EL). Blackstone's stock has gained over 58% in the past year, and investors can also gain exposure through LBO and GABF ETFs.

Portfolio Pulse from Nabaparna Bhattacharya

April 09, 2024 | 10:47 am

EIPX

HJEN

BP p.l.c. (NYSE:BP) shares rose in premarket trading after the company provided a positive trading update for Q1 2024, expecting higher upstream production. The update included projected impacts from various segments, with overall production expected to be slightly higher year-over-year. BP also anticipates a capital expenditure of around $16 billion for FY24. Additionally, BP is nearing a deal to sell some Trinidad and Tobago assets to Perenco. Investors can also gain exposure to BP through Direxion Hydrogen ETF (NYSE:HJEN) and First Trust Energy Income Partners Strategy ETF (NYSE:EIPX).

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 10:39 am

TPH

Tri Pointe Homes has announced the expansion of its premium lifestyle building operations with new divisions in Florida and the Coastal Carolinas, aiming to enhance its footprint in these regions.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 10:02 am

TSLA

Martin Eberhard, Tesla Inc.'s co-founder and former CEO, criticized the company's decision to cancel the Model 2 project, aimed at creating an affordable EV. He highlighted the importance of affordable EVs in competing with Chinese models, particularly BYD Co.'s lineup, and stressed the need for cost-focused strategies in the EV market. Despite rumors of the project's cancellation, Tesla's chief designer hinted at ongoing development, amidst Tesla facing intense competition from BYD, which overtook Tesla as the world's largest battery EV manufacturer.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 9:50 am

PRTC

PureTech has launched Seaport Therapeutics with an oversubscribed Series A funding of $100M. Daphne Zohar steps down as PureTech's CEO to lead Seaport, with Bharatt Chowrira taking over as PureTech's new CEO. Eric Elenko is promoted to President of PureTech.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 7:39 am

GOOG

GOOGL

HUBS

Jim Cramer, host of CNBC's 'Mad Money', advises investors to retain Alphabet (GOOGL, GOOG) stock, citing the company's robust search business and YouTube's appeal to younger demographics. Despite initial concerns over AI threats to Google's search, positive analyst reports and Alphabet's diverse business strategies, including a potential acquisition of HubSpot (HUBS), reinforce its value. Alphabet's AI chatbot Gemini and its top rank in 'America's Most Innovative Companies 2024' further highlight its strengths.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 7:10 am