Streetbeat News

Acquisitions Mergers

ROKU

VZIO

WMT

Walmart Inc is considering acquiring Vizio Holding Corp, causing volatility in Roku Inc's shares. Analysts provided mixed views on the impact of this potential deal on Roku and Vizio ahead of Roku's Q4 earnings. Some see it as a negative for Roku, potentially losing its position in Walmart's ecosystem, while others view it as an opportunity for Roku to leverage its large active account base.

Portfolio Pulse from Chris Katje

February 14, 2024 | 5:09 pm

CNHI

CNH Industrial NV (NYSE:CNHI) reported a Q4 fiscal 2023 revenue decline of 2% YoY to $6.79 billion, slightly beating consensus estimates. Despite a decrease in Industrial Activities sales, Construction net sales grew by ~9% YoY. The company announced an additional $500 million share buyback program and provided a 2024 outlook expecting lower global industry retail sales in agriculture and construction equipment markets. Adjusted EPS was $0.42, in line with consensus. CNHI shares rose 5.25% to $12.44.

Portfolio Pulse from Akanksha Bakshi

February 14, 2024 | 4:56 pm

MLM

Martin Marietta Materials Inc (NYSE:MLM) reported Q4 FY23 results with an 8.9% Y/Y revenue increase to $1.608 billion, missing consensus by a slight margin but beating EPS expectations with $4.63 vs. $3.99 consensus. The company saw a significant improvement in gross profit and margin, and despite a decrease in aggregates shipments, pricing increased. FY24 guidance was provided with expected total revenues and adjusted EBITDA below consensus. Additionally, MLM announced a $2.05 billion acquisition of operations from BWI Southeast.

Portfolio Pulse from Lekha Gupta

February 14, 2024 | 4:43 pm

DIS

Trian Group, owning $3.5 billion of Disney stock, urges shareholders to vote for its nominees, Nelson Peltz and Jay Rasulo, to improve Disney's performance. Disney's recent strategies, including a $1.5 billion investment and a sports streaming venture, have not improved shareholder returns, with the stock price and earnings estimates declining. Trian criticizes Disney's lack of a clear plan and calls for new independent directors to ensure accountability and strategic focus.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 4:18 pm

LYFT

UBER

Uber Technologies, Inc (NYSE:UBER) announced a stock repurchase program of up to $7 billion, following a strong fourth-quarter FY23 performance with a 15% year-on-year revenue growth to $9.94 billion, surpassing the consensus of $9.76 billion. Its GAAP EPS of $0.29 also beat the consensus of $0.17. Meanwhile, Lyft, Inc (NASDAQ:LYFT) reported a 4% year-on-year increase in quarterly sales to $1.225 billion, exceeding the consensus of $1.220 billion, with a 26% growth in rides and an EPS of $0.18, beating the consensus of $0.08. Uber's stock traded higher by 12.01% at $77.27.

Portfolio Pulse from Anusuya Lahiri

February 14, 2024 | 4:18 pm

MRK

The analysis compares Merck & Co (NYSE:MRK) against its pharmaceutical industry peers, focusing on financial metrics like P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, and revenue growth. Merck's high P/E ratio suggests a premium valuation, while its low P/B ratio indicates potential undervaluation. The company's high ROE points to efficient equity use, but its lower EBITDA and gross profit hint at possible financial challenges. Merck's revenue growth is below the industry average, suggesting slower sales performance.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 4:00 pm

KKR

Cotiviti has announced a recapitalization agreement with KKR and its long-standing owner Veritas. Under the agreement, KKR and Veritas will become co-sponsors, holding equal ownership stakes in Cotiviti. KKR's investment comes primarily through its North America Fund XIII, while Veritas is investing through Veritas Fund VIII.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 3:40 pm

BTCUSD

ETHUSD

SPY

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin surged despite higher-than-expected US inflation, with Bitcoin traders targeting $64K and Galaxy Digital's CEO bullish on BTC amid US debt increase. US markets saw Airbnb and other stocks moving lower, while the Fear & Greed Index entered the 'Greed' zone. In politics, Biden and Trump are in a tight race, with Biden aiming to win back independents. Globally, tensions rise with North Korea and Russia. In the economy, US inflation fears impact Asia-Pacific markets. Tech highlights include Nvidia's potential risk, Apple's iOS updates, and Alibaba's partnerships. Tesla and BYD compete in the EV market, while Shopify plans international expansion. Legal issues arise with Barclays and Amazon Prime Video. Energy sector news includes Eversource's Q4 earnings miss.

Portfolio Pulse from Akanksha Bakshi

February 14, 2024 | 3:30 pm

FOXO

FOXO Technologies has entered into a non-binding agreement to merge with M2i Global. The financial terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:38 pm

DSX

Diana Shipping Inc. (DSX) has signed contracts for two new Kamsarmax dry bulk vessels with methanol dual fuel capabilities for $46M each, to be built by Tsuneishi Group (Zhoushan) Shipbuilding Inc., China, and delivered by 2027 and 2028. These vessels are designed to meet stringent energy efficiency and GHG emissions standards, capable of operating on methanol or fuel oil, with near-zero GHG emissions when using green methanol. This expansion follows the sale of m/v Artemis, leaving DSX's fleet at 39 vessels with a combined capacity of approximately 4.5 million dwt.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:35 pm