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Acquisitions Mergers

BA

DFEN

ITA

Boeing's CEO David Calhoun and chairman Larry Kellner are stepping down amid an investigation into a safety incident. Boeing also announced the departure of Stan Deal, president of the Commercial Airplanes division. Analysts from Benchmark and BofA Securities provided their insights, with Benchmark giving a Buy rating and a $250 price target, while BofA maintains a Neutral rating with a $210 price target. The changes come as Boeing faces delivery concerns and safety issues. Investors can gain exposure to Boeing through IShares U.S. Aerospace & Defense ETF (ITA) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN).

Portfolio Pulse from Lekha Gupta

March 26, 2024 | 6:07 pm

IP

International Paper (IP) has confirmed its intention to acquire DS Smith by making an all-equity proposal for the entire issued share capital of DS Smith. This strategic move aims to expand IP's footprint in the packaging sector.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 6:06 pm

IP

International Paper (IP) shares are trading lower following the confirmation from DS Smith that they are in discussions regarding a potential acquisition by IP through an all-share offer.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 5:59 pm

AMD

INTC

MU

NVDA

SK Hynix plans to invest $4 billion in a new semiconductor facility in Indiana, aiming to strengthen the US semiconductor industry. This move is in line with the Biden administration's goals and is expected to create up to 1,000 jobs. The facility, which will start operations in 2028, is near Purdue University and will benefit from state and federal incentives. SK Hynix is Nvidia's exclusive partner for high-bandwidth memory, crucial for advanced GPUs. The investment also comes amid escalating US-China semiconductor tensions, with both countries imposing restrictions affecting companies like Nvidia, AMD, Intel, and Micron Technology.

Portfolio Pulse from Anusuya Lahiri

March 26, 2024 | 5:58 pm

BHVN

LLY

NVO

Biohaven (NYSE:BHVN) is developing an obesity drug, taldefgrobep alfa, targeting myostatin to prevent muscle loss while aiding weight loss, differentiating from Novo Nordisk (NYSE:NVO) and Eli Lilly (NYSE:LLY)'s GLP-1 drugs. Preclinical data shows promising results, with a Phase 2 trial expected in Q2 2024. Eli Lilly's acquisition of Versanis Bio introduces a competing myostatin inhibitor, bimagrumab. BHVN shares rose 3.84% to $57.35.

Portfolio Pulse from Vandana Singh

March 26, 2024 | 5:48 pm

IP

DS Smith is currently in discussions with International Paper Company about a potential acquisition through an all-share offer. The board of DS Smith is actively progressing these discussions.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 5:33 pm

BYDDY

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LI

NIO

TSLA

VWAGY

XPEV

BYD Company Limited (OTC:BYDDY) reported its slowest quarterly profit growth in two years for Q4 2023, despite overtaking Tesla Inc (NASDAQ:TSLA) as the top EV maker in the last quarter. BYD's revenue rose 15.1% to 180.04 billion yuan, with a net income of 8.67 billion yuan. The full year saw an 80.7% increase in net profit to 30.04 billion yuan. BYD is expanding globally and into the premium market, while Tesla continues to adjust its pricing strategy and faces criticism over its electric pickups.

Portfolio Pulse from Upwallstreet

March 26, 2024 | 5:22 pm

IP

International Paper is considering a bid over £5B for DS Smith, potentially disrupting a £10B merger between DS Smith and Mondi. This news caused shares to drop.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 5:12 pm

KR

Analysts have provided diverse opinions on Kroger (NYSE:KR) with a recent shift towards more bullish sentiments. The average 12-month price target for KR has been raised to $57.64, marking a 10.85% increase from the previous target of $52.00. Analyst actions include rating adjustments and price target changes, reflecting a positive outlook on Kroger's financial performance, including revenue growth, net margin, ROE, ROA, and debt management. Kroger's potential acquisition of Albertsons for $25 billion, pending regulatory approval, could further impact its market position.

Portfolio Pulse from Benzinga Insights

March 26, 2024 | 5:01 pm

NEM

Significant bearish options activity has been detected for Newmont (NYSE:NEM), with a total of 12 unusual trades. The sentiment is 100% bearish, with puts and calls indicating a price target range of $31.0 to $42.5. Newmont, the world's largest gold miner, has recently acquired Newcrest, planning to sell higher cost mines. The stock is currently up 0.94% at $34.24, with an analyst from Scotiabank setting a target price of $43.

Portfolio Pulse from Benzinga Insights

March 26, 2024 | 4:45 pm