Streetbeat News

Acquisitions Mergers

SPTN

SpartanNash has entered into an Asset Purchase Agreement with Markham Enterprises, acquiring three fuel centers and convenience stores. This marks SpartanNash's second acquisition this month, following its acquisition of Fresh Encounter Inc.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 5:03 pm

IPGP

IPG Photonics reported better-than-expected Q3 earnings, with EPS of 29 cents and revenues of $233.143 million. Despite a 23% revenue decline year-over-year, shares rose 10.4% due to the earnings beat and plans to acquire Clean-Lasersysteme GmbH. The acquisition aims to strengthen IPG's position in the laser cleaning market.

Portfolio Pulse from Nabaparna Bhattacharya

October 29, 2024 | 4:52 pm

MSFT

NVDA

TSLA

Elon Musk's AI company, xAI, is in discussions to raise funding that would value the company at $40 billion. This development could have implications for companies like Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA), which are often associated with AI advancements.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 4:50 pm

TVGN

Tevogen Bio has signed a letter of intent with CD8 Technology to build a $50M R&D and manufacturing facility, which will not impact shareholder equity. This move supports Tevogen's growth agenda and commitment to shareholder value.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 4:45 pm

ABBV

AbbVie Inc (NYSE:ABBV) is set to report its Q3 earnings with expected EPS of $2.92 and revenues of $14.28 billion. Ahead of this, AbbVie acquired Aliada Therapeutics for $1.4 billion to enhance its Alzheimer's research. The stock shows mixed technical signals, with a short-term bearish trend but potential for a bullish turn. Analysts see a 10.58% upside with a price target of $210.

Portfolio Pulse from Surbhi Jain

October 29, 2024 | 4:15 pm

LAC

Lithium Americas Corp. has secured a $2.26 billion loan from the U.S. Department of Energy to finance the construction of processing facilities at Thacker Pass, Nevada. This project aims to produce 40,000 tonnes of lithium carbonate annually and is supported by a joint venture with General Motors.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 3:41 pm

EPD

Enterprise Products Partners L.P. (NYSE:EPD) reported a 14.8% increase in Q3 sales to $13.775 billion, missing the consensus estimate. Despite a rise in adjusted EBITDA and EPS, both missed expectations. The company highlighted new asset growth and acquisitions, including Piñon Midstream, to boost cash flow and strengthen its NGL value chain.

Portfolio Pulse from Akanksha Bakshi

October 29, 2024 | 3:02 pm

AJG

Arthur J. Gallagher & Co. has acquired Adept Benefits, LLC, a company based in Snoqualmie, Washington. The terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 3:01 pm

JBLU

SAVE

JetBlue's CEO announced that the company is not interested in revisiting the acquisition of Spirit Airlines but would consider acquiring Spirit's assets if they are sold.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 2:37 pm

BKYI

EFSH

GLYC

HRYU

MCD

PGHL

SHPH

U.S. stocks showed mixed performance with the Dow Jones slightly down and NASDAQ slightly up. McDonald's reported better-than-expected earnings, boosting its stock. GlycoMimetics, BIO-key International, and Shuttle Pharmaceuticals saw significant stock price increases due to positive company news, while 1847 Holdings, Hanryu Holdings, and Primega Group Holdings experienced sharp declines.

Portfolio Pulse from Avi Kapoor

October 29, 2024 | 2:30 pm