Streetbeat News

Acquisitions Mergers

PARA

PARAA

Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA) is set to report Q4 financial results, with analysts expecting a revenue of $7.85 billion, a decrease from the previous year but the highest of the fiscal year. The company is anticipated to report a loss per share, contrasting with the prior year's profit. Analysts have mixed ratings on Paramount, with concerns over television revenue and potential mergers. Paramount is considering ventures or buyouts with several companies and is expected to undergo layoffs. The company's streaming platform, Paramount+, gained 2.7 million subscribers in Q3. The first quarter included Super Bowl LVIII, which had record viewership and ad revenue potential.

Portfolio Pulse from Chris Katje

February 27, 2024 | 6:46 pm

RCM

Coliseum Capital Management, a major shareholder of R1 RCM Inc (NASDAQ:RCM), believes New Mountain Capital's $13.75/share acquisition offer undervalues R1 RCM. Despite missing Q4 revenue expectations, R1 RCM reported a significant year-over-year revenue increase and a positive GAAP net income, contrasting with the previous year's loss. The company's CEO highlighted achievements and future growth plans, including revenue and EBITDA projections for 2024. RCM shares rose 4% to $14.45.

Portfolio Pulse from Vandana Singh

February 27, 2024 | 6:06 pm

IPO

Sweden-based private equity group EQT announced its largest-ever fundraising, securing $24 billion for its EQT X fund, exceeding its target and marking one of the largest private equity funds raised. The fund, focusing on healthcare, technology, and industrial tech, has already made several investments. Amid a private equity slump, EQT expects a pick-up in deal activity and IPO markets reopening in Europe and the US. The Renaissance IPO ETF (NYSE:IPO) has seen a nearly 60% increase since the beginning of 2023.

Portfolio Pulse from Neil Dennis

February 27, 2024 | 5:58 pm

WDAY

Workday, Inc. (NASDAQ:WDAY) reported Q4 earnings of $1.57 per share, beating estimates by 6.8%, with sales of $1.92 billion, a 16.77% increase year-over-year. The company announced the acquisition of HiredScore, reiterated its FY2025 subscription revenue guidance of $7.725 to $7.775 billion, and expects a non-GAAP operating margin of approximately 24.5%. Following the report, analysts adjusted their price targets on WDAY, with changes ranging from a decrease to an increase, reflecting a mixed outlook.

Portfolio Pulse from Avi Kapoor

February 27, 2024 | 5:57 pm

MSFT

SNOW

Snowflake Inc (SNOW) is set to report its Q4 earnings with expectations of 18 cents EPS and $759.10 million in revenues. Analyst Mike Cikos of Needham has a Buy rating on SNOW, with a price target raised to $265, citing an 'outsized benefit' from AI growth and cloud migrations. Snowflake's cloud-native data platform is disrupting the market, with a 21% exposure to Azure, indicating a strategic advantage. The company's focus on unstructured data and the Applica acquisition further positions it against competitors like Databricks.

Portfolio Pulse from Surbhi Jain

February 27, 2024 | 5:40 pm

SJM

J.M. Smucker Company (NYSE:SJM) shares fell after reporting Q3 earnings. Despite beating EPS and revenue estimates, the company saw a decline in U.S. Retail Coffee and Pet Foods sales. Gross profit increased due to the Hostess Brands acquisition, but operating income dropped due to integration costs. The FY24 EPS outlook was adjusted to $9.45 - $9.65, with expected net sales decrease of 3.6%.

Portfolio Pulse from Nabaparna Bhattacharya

February 27, 2024 | 5:28 pm

Nippon Steel has enlisted Vox Global as a subcontractor to Akin Gump Strauss Hauer & Feld to strengthen its lobbying efforts for the acquisition of U.S. Steel. This move aims to facilitate the Japanese company's planned acquisition by enhancing its influence and advocacy in the U.S.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 5:27 pm

HIMS

JANX

NERV

NRXP

TWKS

VKTX

Macy's Inc announced mixed Q4 results and plans to close 150 stores as part of a new growth strategy. U.S. stocks traded mixed, with the Dow Jones falling and NASDAQ rising. Janux Therapeutics, Hims & Hers Health, and Viking Therapeutics saw significant stock increases, while Minerva Neurosciences, Thoughtworks Holding, and NRx Pharmaceuticals experienced declines. Oil prices rose by 1%, and gold increased slightly.

Portfolio Pulse from Avi Kapoor

February 27, 2024 | 5:24 pm

NLR

URA

URNM

UUUU

Energy Fuels (AMEX:UUUU) plans to open two uranium mines in Colorado and Wyoming, potentially doubling its uranium output to over two million pounds annually by 2025. The company reported a net income of nearly $100 million in 2023 and contracted sales of 100,000 pounds at $102.88 per pound in Q1 2024. Energy Fuels is also focusing on exploration and permitting for future production. Additionally, three ETFs, Global X Uranium ETF (NYSE:URA), North Shore Global Uranium Mining ETF (NYSE:URNM), and VanEck Vectors Uranium+Nuclear Energy ETF (NYSE:NLR), offer investment opportunities in the uranium sector.

Portfolio Pulse from Stjepan Kalinic

February 27, 2024 | 5:10 pm

CCEP

Barclays has reaffirmed its Overweight rating on Coca-Cola Europacific (NASDAQ:CCEP) and increased its price target from $74.00 to $75.00. Despite a slight decline in share price over the last 24 hours, the new target suggests a potential upside of 5.01%. CCEP, a major bottler in the Coca-Cola system, announced plans to acquire Coca-Cola Beverages Philippines, highlighting its significant role in the global Coke volume.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 5:00 pm