Streetbeat News

Acquisitions Mergers

APA

CPE

Callon Petroleum (CPE) announced it has stopped providing guidance due to its pending merger with APA Corporation. This strategic move is likely in preparation for the merger process and integration efforts.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:38 pm

DOC

PEAK

Healthpeak Properties, Inc. (PEAK) and Healthpeak OP, LLC have successfully completed a consent solicitation and offers to guarantee for Physicians Realty L.P.'s senior notes, a key step in their merger with Physicians Realty Trust (DOC). This process received the required consents to amend the indentures governing the DOC Notes, facilitating the merger.

Portfolio Pulse from Happy Mohamed

February 26, 2024 | 9:35 pm

HWH

HWH International Inc. (NASDAQ:HWH) has acquired a café in Seocho-gu, South Korea, launching its second Hapi Cafe outlet. This move aligns with HWH's vision of Health, Wealth, and Happiness, offering healthy food options, functional coffee, and a co-working space. The new café is in a prestigious French neighborhood, enhancing HWH's presence in the South Korean market. Chairman Chan Heng Fai emphasized the expansion's role in delivering value and experiences to members and the public.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:28 pm

GPI

Group 1 Automotive has acquired Newport Lexus and Tustin Lexus, two dealerships in Orange County, California. The terms of the acquisition were not disclosed. These dealerships are expected to generate $350 million in annual revenues, increasing Group 1's 2024 year-to-date total acquired revenues to $850 million. This follows $1.1 billion of acquired revenues in 2023.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:20 pm

OKE

ONEOK projects a 2024 net income midpoint of $2.8 billion and adjusted EBITDA midpoint of $6.1 billion, with capital expenditures between $1.75 billion and $1.95 billion. The company attributes this growth to record volumes, the Magellan acquisition, and operational momentum. ONEOK's strategy focuses on capital growth, maintaining a strong balance sheet, dividend growth, and share repurchases, aiming to maximize investor value and enhance its position in providing essential energy services.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:17 pm

WDAY

Workday, Inc. (NASDAQ:WDAY) reported Q4 earnings of $1.57 per share, beating estimates by 6.8%, and quarterly sales of $1.92 billion, meeting estimates with a 16.77% year-over-year increase. The company's subscription revenue backlog rose to $20.9 billion, up 27% from last year. Workday also announced plans to acquire HiredScore, terms undisclosed. The company reiterated its FY2025 subscription revenue guidance of $7.725 to $7.775 billion, indicating 17% to 18% growth, and expects a non-GAAP operating margin of about 24.5%. After the announcement, WDAY shares dropped 5.6% in after-hours trading to $290.00.

Portfolio Pulse from Erica Kollmann

February 26, 2024 | 9:17 pm

WDAY

Workday's shares dropped following the announcement of its Q4 financial results, reiterated guidance, and plans to acquire HiredScore. The acquisition aims to enhance Workday's capabilities but has led to investor uncertainty in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:15 pm

ACB

CRLBF

CURLF

GTBIF

HITI

TCNNF

TLRY

Following Germany's decision to legalize limited cannabis possession, U.S. and Canadian cannabis stocks like Curaleaf Holdings, Trulieve Cannabis Corp., Green Thumb Industries, Cresco Labs, Tilray, and Aurora Cannabis saw movements in their stock prices. Analysts predict significant growth potential in the German market, comparing it to Florida's medical cannabis market. Companies like Tilray and Aurora Cannabis, already established in Germany, are well-positioned to benefit. Curaleaf's affiliate owns a German importer, and High Tide Inc. expressed enthusiasm about entering the German market.

Portfolio Pulse from Maureen Meehan

February 26, 2024 | 9:13 pm

FORM

FormFactor, Inc. (NASDAQ:FORM) has completed the sale of its Suzhou and Shanghai companies to Grand Junction Semiconductor Pte. Ltd. (GJS) for $25M in cash. This transaction, part of a long-term partnership including an exclusive distribution agreement in China, aims to adjust FormFactor's operational strategy in the region due to declining revenues from export controls. The partnership is expected to enhance FormFactor's ability to serve the domestic China market.

Portfolio Pulse from Happy Mohamed

February 26, 2024 | 9:09 pm

AZN

FGEN

FibroGen and AstraZeneca have mutually agreed to terminate their collaboration agreement on Roxadustat, which was initially entered into on July 30, 2013. As a result, FibroGen regains all rights to Roxadustat in the United States and other AstraZeneca territories, with the exception of China and South Korea.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:06 pm