Streetbeat News

Acquisitions Mergers

BRO

Brown & Brown, Inc. has announced the acquisition of the assets of Hillco Insurance, expanding its portfolio and market presence. This strategic move is expected to enhance Brown & Brown's service offerings and client base.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 11:52 am

CTRE

CareTrust REIT has expanded its portfolio by acquiring a three-property skilled nursing portfolio located in Texas and Missouri. This strategic move is aimed at enhancing CareTrust's presence in these regions and diversifying its portfolio in the skilled nursing sector.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 11:06 am

DIS

GOOG

GOOGL

James Donaldson, known as MrBeast, debunked rumors of selling his YouTube channel to The Walt Disney Co. (NYSE:DIS) for $5 billion, which originated from a joke on The Iced Coffee Hour podcast. Despite the speculation, MrBeast confirmed Disney does not own any part of his channel. He also addressed other conspiracy theories and mentioned finalizing a $100 million deal for a TV show with Amazon Prime. Additionally, MrBeast's experiment showed YouTube, owned by Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), is more profitable for content creators than Elon Musk's X platform.

Portfolio Pulse from Rounak Jain

March 06, 2024 | 10:38 am

VSH

Vishay Intertechnology, Inc. (NYSE:VSH) has completed the acquisition of Nexperia's wafer fabrication facility in Newport, South Wales, U.K., for $177 million in cash. The acquisition aims to bolster Vishay's semiconductor manufacturing capabilities, particularly in automotive-certified semiconductors, and aligns with its goals for decarbonization and electrification. Since the announcement of the deal on November 8, 2023, VSH shares have increased by almost 3%.

Portfolio Pulse from Nabaparna Bhattacharya

March 06, 2024 | 10:16 am

MSTR

Jim Cramer criticized Bitcoin's recent market dip on X, referencing a sharp 14% decline to $59,300 from an all-time high of $69,150. He discussed Bitcoin's volatility and market dynamics on his CNBC show, highlighting the impact of Exchange Traded products and MicroStrategy's $600 million convertible bond offering to buy more Bitcoin. Cramer views the shift in Bitcoin's use and the introduction of spot Bitcoin ETFs as positive developments, despite the recent price drop.

Portfolio Pulse from Mehab Qureshi

March 06, 2024 | 7:42 am

VSH

Vishay Intertechnology, Inc. (VSH) has acquired Nexperia's Newport Wafer Fab in South Wales, U.K. for $177 million in cash. The facility, an automotive-certified, 200mm semiconductor wafer fab, is the UK's largest, with a capacity of over 30,000 wafers per month. Vishay intends to transform the facility into a manufacturing excellence center focusing on Net Zero Transformation, emphasizing decarbonization and electrification.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:16 am

TDY

Teledyne Technologies, through its FLIR division, has expanded its acoustic imaging line with the introduction of the Si2-Series. This new series, including the Si2-Pro, Si2-LD, and Si2-PD models, is designed to detect compressed air leaks, partial discharges, and mechanical faults, as well as to quantify gas leaks. The Si2-Series offers best-in-class performance, decision support, fleet management, and enterprise data integration, featuring new on-screen gas leak quantification, partial discharge assessment, and mechanical fault measurement.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 6:56 am

COIN

NVDA

PLTR

TSLA

Cathie Wood's Ark Invest sold over $24M in Coinbase shares as Bitcoin hit new highs, continued selling NVIDIA shares, while acquiring Tesla and Palantir stock. The firm's trading activities reflect strategic adjustments in response to the evolving financial landscape, with sales hinting at a cautious stance towards tech and crypto assets, and purchases indicating a bullish outlook on companies like Tesla and Palantir.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 4:59 am

AAPL

BABA

CRWD

PHUN

SOFI

On Tuesday, major U.S. stock indices closed lower. Apple's shares fell due to a 24% drop in iPhone sales in China. SoFi Technologies announced a proposed convertible senior notes offering to raise $750 million. Phunware surged after announcing its Q4 and full-year financial results, a reverse stock split, and a public offering. CrowdStrike's shares dropped despite strong Q4 performance and revenue growth. Alibaba slightly increased after leading a financing round for AI startup MiniMax.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 2:34 am

DIS

Disney CEO Bob Iger announced the cancellation of several projects amid a box office slump, as part of a studio overhaul. During an investor conference, Iger revealed that Disney is making tough decisions to improve its film slate by terminating projects that are not strong enough. This move comes as Disney faces challenges in various genres and pressure from activist investors. Despite these efforts, Disney's first-quarter revenue of $23.5 billion fell short of the consensus estimate of $23.6 billion.

Portfolio Pulse from Ananya Gairola

March 06, 2024 | 1:47 am