Streetbeat News

Acquisitions Mergers

CRWD

CSCO

MSFT

CrowdStrike Holdings Inc (NASDAQ:CRWD) exceeded Q4 estimates with a 33% YoY revenue increase to $845 million and reported a net income of $54 million. The company provided a strong outlook for the next quarter and fiscal year, with revenue expected between $902 million and $906 million. CrowdStrike's acquisition of Flow aims to expand its cloud security reach. Competitors like Microsoft and Cisco are also enhancing their cybersecurity capabilities, with Cisco introducing an AI security assistant.

Portfolio Pulse from Upwallstreet

March 06, 2024 | 6:20 pm

APO

BLK

LTRPA

TRIP

Apollo Global Management Inc (NYSE:APO) is reportedly interested in acquiring TripAdvisor Inc (NASDAQ:TRIP), part of John Malone's Liberty Media group. The discussions are in early stages, with TripAdvisor engaging advisers to explore potential acquisition proposals. TripAdvisor's shares have risen 25% over the last year, despite a recent slight decline. Liberty TripAdvisor Holdings Inc (OTC:LTRPA) is the primary shareholder, with significant influence. Other notable stakeholders include BlackRock Inc (NYSE:BLK) and Vanguard Group Inc. TripAdvisor's Q4 revenue was $390.00 million, a 10% increase year-on-year.

Portfolio Pulse from Anusuya Lahiri

March 06, 2024 | 6:15 pm

DWAC

ETHUSD

MAGA

MATICUSD

Following Trump's Super Tuesday win and Nikki Haley's exit from the GOP presidential race, interest in Trump-related investments like NFTs, memecoins, and stocks has surged. Trump's NFT collections, especially the latest 'MugShot Edition,' have seen increased sales. Digital World Acquisition Corp (DWAC) shares have risen 152% in 2024, amidst Trump's election lead, despite merger delays and lawsuits. The MAGA memecoin also gained traction, reflecting Trump's political momentum.

Portfolio Pulse from Chris Katje

March 06, 2024 | 5:49 pm

CRWD

PANW

CrowdStrike Holdings Inc (NASDAQ:CRWD) shares surged after reporting Q4 earnings that exceeded expectations, with 12 analysts revising their forecasts upwards. The company reported a 34% year-on-year increase in ARR to $3.44 billion, surpassing Street expectations. Analysts highlighted strong net new ARR, platform momentum, and robust guidance as key drivers. The positive outlook contrasts with concerns around competitors like Palo Alto Networks Inc. (NASDAQ:PANW). Additionally, CrowdStrike announced its intent to acquire Flow Security.

Portfolio Pulse from Priya Nigam

March 06, 2024 | 5:35 pm

ALB

LINRF

Albemarle (NYSE:ALB) plans to issue $2 billion in convertible preferred stock, equating to 13% of its market cap, following a 50% market cap reduction last year due to falling lithium prices and a failed acquisition of Liontown Resources (OTCPK: LINRF). The stock dropped 20% after the announcement, erasing February's gains. Despite a healthy balance sheet and low net debt/EBITDA ratio, analysts are surprised by the move. Lithium prices are rising, and Albemarle's shares are seen as undervalued by Morningstar. Piper Sandler rates Albemarle as Sell due to potential shareholder dilution and funding challenges for future projects.

Portfolio Pulse from Stjepan Kalinic

March 06, 2024 | 5:30 pm

APM

Aptorum Group Limited (NASDAQ:APM) shares surged by 778% to $12.73 following the announcement of a merger agreement with the privately held YOOV Group Holding Ltd. The merger, approved by both companies' boards, involves Aptorum's subsidiary merging into YOOV, a business AI and automation platform. Additionally, Aptorum and its major shareholder, Jurchen Investment Corporation, have initiated a significant restructuring process, including a split-off agreement where Aptorum will transfer its legacy business assets and liabilities to Aptorum Therapeutics Limited. Post-merger, Aptorum and YOOV shareholders will own approximately 10% and 90% of the combined company, respectively.

Portfolio Pulse from Vandana Singh

March 06, 2024 | 5:27 pm

ENB

Enbridge anticipates a growth in Western Canada's oil supply by 500,000 barrels per day (bpd) through 2025, with pipeline utilization expected to reach 99% by 2026. The company's CEO also mentioned a focus on small tuck-in acquisitions rather than larger deals for the year.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:19 pm

HES

XOM

Exxon Mobil's VP commented that if the Chevron-Hess merger does not proceed, Exxon sees potential value in Guyana, indicating interest in capitalizing on opportunities in the region.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:15 pm

CVX

HES

XOM

Exxon Mobil has initiated an arbitration process, asserting its right of first refusal in response to the proposed merger between Chevron and Hess in Guyana, as reported by Reuters. This move could potentially impact the dynamics of energy exploration and production in the region, highlighting Exxon Mobil's strategic interests in maintaining its influence and operations in Guyana.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:10 pm

KKR

KKR is reportedly in discussions to acquire the energy company Encavis for more than €2 billion, according to Bloomberg News. This potential acquisition highlights KKR's interest in expanding its portfolio in the renewable energy sector.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:00 pm