Streetbeat News

Acquisitions Mergers

AMRC

Ameresco, Inc. (NYSE:AMRC) has announced the commencement of operations at its 5.2 MWe renewable natural gas (RNG) plant at Republic Services' Brickyard Landfill in Danville, Illinois. The facility is designed to reduce over 27,000 tons of carbon dioxide emissions annually by converting landfill gas into pipeline-grade RNG, which can be used as a low-carbon transportation fuel. This project aligns with Republic Services' sustainability goals and represents Ameresco's 12th renewable energy project with Republic, with another 10 in various stages of development. The initiative underscores both companies' commitment to decarbonization and sustainable energy solutions.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:44 pm

LYB

LyondellBasell (NYSE:LYB) has acquired mechanical recycling assets in California from PreZero, including a facility with a 50 million pounds per year production capacity. The company plans to operate this facility to produce recycled resins under its CirculenRecover brand, aiming to commence operations in 2025. This move is part of LYB's strategy to enhance its U.S. presence, support the circular economy for plastics, and meet the growing demand for sustainable products.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:41 pm

MWG

Multi Ways Holdings Limited (NYSE:MWG), a leading supplier of heavy construction equipment in Singapore, announced its fleet expansion and renewal strategy, including a significant purchase agreement with SANY International Development Limited. This strategy aims to enhance its market position, service reliability, and cater to a wider customer base by integrating new and used equipment. The company's approach is driven by customer feedback and market analysis, focusing on reducing operational costs and adapting to changing needs. The construction demand forecast for 2024 in Singapore supports the timing of these investments.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:38 pm

LCAA

LOT

Lotus Technology Inc. (Lotus Tech), a leading luxury electric vehicle maker, and L Catterton Asia Acquisition Corp (LCAA) announced the closing of their business combination, with Lotus Tech's ADS to start trading on Nasdaq under 'LOT' on February 23, 2024. The merger was approved by LCAA shareholders, and Lotus Tech aims to become a fully electric luxury mobility provider by 2027. The company has raised over $880 million in financing related to this transaction, marking a significant step in its growth and transition to electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:36 pm

DFS

MEDS

SPRC

TRxADE HEALTH announced the sale of assets of its subsidiary Trxade, Inc. to Micro Merchant Systems for $22.5M, potentially rising to $30M. SciSparc and Clearmind are enhancing their international patent portfolio with new psychedelic-based compounds. Capital One Financial is set to acquire Discover, affecting pre-market movements.

Portfolio Pulse from ryanfaloona@benzinga.com

February 20, 2024 | 1:36 pm

AMZN

CSCO

GOOG

MSFT

NVDA

Cisco Systems Inc (CSCO) announced a 5% workforce reduction, approximately 4,250 jobs, as it enters 2024 alongside tech giants like Alphabet (GOOG), Amazon.com Inc (AMZN), and Microsoft Corporation (MSFT) in making job cuts. Despite expanding its AI and cybersecurity partnership with Nvidia Corporation (NVDA) to focus on data centers, Cisco's positive news was overshadowed by a modest forecast for the current quarter and full year. Cisco's fiscal second quarter saw a 6% YoY revenue decline and a cautious outlook due to macroeconomic challenges and supply chain issues. The company also plans to acquire Splunk to diversify from its networking equipment business.

Portfolio Pulse from Upwallstreet

February 20, 2024 | 1:30 pm

BCS

Barclays PLC (NYSE:BCS) shares surged premarket Tuesday following its Q4 FY23 earnings report. Despite a 3% Y/Y decline in total income to £5.6 billion and an attributable loss of £0.1 billion, the bank announced a further share buyback of up to £1 billion. Barclays plans to restructure its reporting segments and targets significant income and capital return to shareholders by 2026, alongside cost savings through structural actions including headcount reduction.

Portfolio Pulse from Lekha Gupta

February 20, 2024 | 1:27 pm

BNIX

Bannix Acquisition Corp. (BNIX) has extended its deadline to complete an initial business combination to March 14, 2024. This extension, the twelfth of its kind, was approved by stockholders and involves a potential loan from the sponsor, Instant Fame LLC, to support non-redeemed shares. The decision aims to provide Bannix more time to finalize its business combination.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:26 pm

EFSH

1847 Holdings LLC announced the strategic divestiture of its 1847 Asien subsidiary. This move is part of the company's broader strategy to streamline operations and focus on its core businesses. The divestiture of 1847 Asien is expected to have financial and operational implications for 1847 Holdings, potentially affecting its stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:25 pm

ACTG

Acacia Research Corporation (NASDAQ:ACTG), through its majority-owned subsidiary Benchmark Energy II, LLC, has announced a significant acquisition of upstream assets in the Western Anadarko Basin, Texas and Oklahoma, from a private seller. This acquisition, expected to close in Q2 2024, will add over 470 operated producing wells across approximately 140,000 net acres, with anticipated annualized asset-level cash flows of around $45 million. The deal, valued at Acacia's share of approximately $57.5 million, aims to enhance Benchmark's portfolio with a focus on cash flow through acquiring cash-flowing oil and gas properties. The transaction is funded by cash from Acacia and McArron Partners, along with committed debt financing from regional banks.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:23 pm