Streetbeat News

Acquisitions Mergers

PFE

Activist investor Starboard Value criticizes Pfizer for underperforming in R&D and overpaying for acquisitions, leading to a significant drop in stock value. Starboard highlights Pfizer's failure to meet its ambitious targets and concerns over its leveraged balance sheet, which could limit future growth.

Portfolio Pulse from Vandana Singh

October 22, 2024 | 5:55 pm

AMD

AMZN

ARM

GOOGL

IVV

MSFT

NVDA

SPY

Nvidia is expanding its global presence by developing AI chips in India and investing in Thailand. The company aims to leverage India's chip design talent and Thailand's growing AI data center market. Nvidia's stock has surged over 233% in the past year.

Portfolio Pulse from Anusuya Lahiri

October 22, 2024 | 5:32 pm

APO

ARM

SFTBY

Apollo and SoftBank discussed creating a $20 billion fund to invest in AI-related infrastructure like data centers and chip factories. Talks have cooled, but the venture could involve Arm, a SoftBank-owned chip company. SoftBank's CEO is focused on AI, aiming to compete with Nvidia.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 4:33 pm

MMLP

Martin Midstream Partners L.P. (NASDAQ:MMLP) reaffirms its commitment to a merger with Martin Resource Management Corp, deemed fair and beneficial by the Conflicts Committee. The merger offers a 34% premium to MMLP unitholders based on the market price before the proposal.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 3:50 pm

HXL

Hexcel Corporation is exploring the divestment of its operations in Neumarkt, Austria, to refocus its industrial business on preferred carbon fiber applications. The company is seeking a suitable successor for the Neumarkt plant.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 3:40 pm

ALTR

CDNS

Altair Engineering is exploring a sale after attracting takeover interest, with potential bidders including rival design software makers like Cadence Design Systems.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 3:08 pm

DGX

Quest Diagnostics reported strong Q3 results, with earnings and sales surpassing expectations. The company is benefiting from new customer wins, expanded business, and acquisitions. Despite some disruptions, Quest revised its 2024 revenue guidance upwards and is well-positioned for growth in 2025.

Portfolio Pulse from Vandana Singh

October 22, 2024 | 3:08 pm

SCKT

Socket has secured $40 million in funding to enhance its capabilities in combating next-generation software supply chain attacks. The funding round was led by Abstract Ventures, Elad Gil, and a16z.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 2:35 pm

WOLF

Jana Partners suggests that Wolfspeed could unlock value by separating its devices unit. This strategic move could potentially enhance shareholder value and improve operational focus.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 2:25 pm

WOLF

ZF has abandoned its plans to invest €170 million in a semiconductor plant with Wolfspeed in Saarland, Germany. This decision casts doubt on the construction of the €2.75 billion factory.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 2:11 pm