Streetbeat News

Acquisitions Mergers

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

PFIE

Profire Energy shares surged following the announcement of a definitive agreement for the company to be acquired by CECO.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 2:16 pm

AMD

INTC

NVDA

QCOM

QQQ

SPY

Intel is investing $300 million to expand its chip packaging and testing facility in Chengdu, China, despite cybersecurity concerns. This move strengthens Intel's ties with China, its largest market, and aims to enhance supply chain efficiency. The expansion comes amid challenges such as a decline in server market share and strategic considerations like potential mergers and acquisitions.

Portfolio Pulse from Anusuya Lahiri

October 29, 2024 | 2:14 pm

CECO

PFIE

Profire Energy, Inc. (NASDAQ:PFIE) shares surged after CECO Environmental Corp. (NASDAQ:CECO) announced its acquisition of Profire in an all-cash deal at $2.55 per share, a significant premium over recent prices. The transaction, valued at $125 million, is expected to close in Q1 2025, after which Profire will be delisted.

Portfolio Pulse from Lekha Gupta

October 29, 2024 | 2:13 pm

ALE

ALLETE Clean Energy, a subsidiary of ALLETE, Inc. (NYSE:ALE), has sold the Whitetail Wind Project in Wisconsin to Invenergy. The project is intended to be constructed and sold to WEC Energy Group utilities and Madison Gas and Electric Co. No financial terms were disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 2:08 pm

DBCCF

Decibel Cannabis Company Inc. has acquired AgMedica Bioscience Ltd. through a $6.3 million unsecured convertible debenture. The acquisition is expected to expand Decibel's international footprint and contribute significantly to its revenue and EBITDA in 2025. Decibel also announced a private placement and provided Q3 2024 financial guidance.

Portfolio Pulse from Nina Zdinjak

October 29, 2024 | 2:00 pm