Streetbeat News

Acquisitions Mergers

BZFD

BuzzFeed, Inc. (BZFD) has agreed to sell Complex Networks to NTWRK for $108.6 million in an all-cash transaction. This strategic move is aimed at optimizing BuzzFeed's asset portfolio and focusing on core areas of growth.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:33 pm

ANSS

SNPS

Ansys has announced the suspension of its quarterly earnings conference calls and will no longer provide quarterly or annual guidance due to the pending transaction with Synopsys.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:32 pm

ROKU

VZIO

WMT

VIZIO Holding (NYSE:VZIO) experienced a decline in share price following downgrades from Wall Street analysts, including JPMorgan, Craig-Hallum, and Roth MKM, amid news of Walmart's (NYSE:WMT) intention to acquire VIZIO for $11.50 per share. The acquisition, valued at approximately $2.3 billion, is seen as having limited upside for VIZIO unless a superior offer emerges. The deal's strategic rationale could benefit both Walmart and VIZIO, potentially impacting Roku (NASDAQ:ROKU), which saw a 32% decline in shares due to the potential strengthened competition.

Portfolio Pulse from Surbhi Jain

February 21, 2024 | 9:23 pm

GATO

NUE

PLL

Nucor Corporation plans to build a $860 million rebar micro mill in the Pacific Northwest, aiming to maintain leadership in the steel bar market. Gatos Silver reported increased silver production and financial growth in Q4 2023, despite a revenue fall. Dakota Gold Corp. announced promising drill assays at the Richmond Hill Gold Project, indicating potential for future resource expansion. Piedmont Lithium sold all shares of Sayona Mining, focusing on its joint venture and offtake agreement with Sayona Quebec to supply lithium resources for the U.S. electric vehicle supply chain.

Portfolio Pulse from Austin DeNoce

February 21, 2024 | 8:33 pm

CSTR

ONB

CapStar Financial Holdings Inc announced that its merger is expected to be completed by April 1, 2024. This strategic move could potentially impact the financial landscape and the involved entities' market positions.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 8:31 pm

CSTR

ONB

CapStar Financial Holdings announced that on February 20, the Board of Governors of the Federal Reserve System approved its merger with Old National. Additionally, the Office of the Comptroller of Currency approved the bank merger, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 8:27 pm

WAB

MRS Logística and Wabtec Corporation have entered into an agreement for the purchase of 30 new Evolution Series locomotives, valued at around R$500 million, with deliveries starting in 2024. This deal is part of MRS's strategy to renew its railway fleet and aims to improve efficiency, safety, and sustainability in rail transport. The ES44ACi locomotives feature advanced technology for reduced emissions and operating costs, aligning with global sustainability efforts.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 8:18 pm

COF

DFS

SPY

U.S. Representative Waters has called on the Department of Justice and banking regulators to quickly block a proposed acquisition, as per Reuters. The specific companies involved in the acquisition were not mentioned, but the financial sector, including companies like COF and DFS, and ETFs like SPY, could be impacted by regulatory actions on mergers and acquisitions.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 8:16 pm

COF

DFS

SPY

U.S. Representative Maxine Waters expressed strong opposition to the proposed acquisition of Discover by Capital One, citing significant implications for consumers and small businesses. The merger between these financial giants is seen as a move that could reshape the competitive landscape, potentially affecting pricing, service quality, and innovation in the sector.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 8:15 pm

VZIO

WMT

Telsey Advisory Group analyst Joseph Feldman upgraded Walmart Inc. (WMT) to an Outperform rating with a target price of $205, up from $185, citing Walmart's expanded vision beyond retail into advertising, merchant services, and last-mile delivery. Walmart's Q4 FY24 net sales grew by 5.7% to $173.39 billion, surpassing expectations. Adjusted EPS was $1.80, beating the consensus of $1.65. The company's international division saw a 17.6% sales increase, with significant growth in Flipkart and China. Walmart also agreed to acquire VIZIO Holding Corp. (VZIO) for $2.3 billion, a move expected to bolster its advertising growth but be dilutive to 2024 earnings. Feldman maintains a 2024 EPS estimate of $7.13 with a projected total sales growth of 4% to $674 billion.

Portfolio Pulse from Nabaparna Bhattacharya

February 21, 2024 | 7:01 pm