hapabapa/iStock Editorial via Getty Images Sequoia Capital is reportedly offering to buy Stripe’s shares from the payment company’s investors. The proposed price would be $27.51 per share, which represents a $70 billion valuation, Axios stated in a report. The selling LPs would not pay carried interest and Sequoia partners willContinue Reading
Angel Di Bilio/iStock Editorial via Getty Images Tanker owner Torm (NASDAQ:TRMD) +1.5% in early trading Monday after saying it agreed to buy eight second-hand MR vessels from an unnamed seller in a cash and stock deal valued at $340M. Under the deal terms, Torm (TRMD) will pay $238M in cashContinue Reading
lyash01/iStock via Getty Images Cleveland-Cliffs (NYSE:CLF) -5.7% pre-market Monday after saying it agreed to acquire Canadian steel producer Stelco Holdings (OTCPK:STZHF) in a stock-and-cash deal valued at ~$2.5B. Under the deal terms, Cleveland-Cliffs (CLF) will pay C$70/share, consisting of C$60/share in cash plus 0.454 common shares for each Stelco (OTCPK:STZHF)Continue Reading
400tmax/iStock Unreleased via Getty Images Google parent Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) is in advanced talks to buy cybersecurity startup Wiz for ~$23B, The Wall Street Journal reported, citing people familiar with the matter. A deal might be reached soon, provided negotiations don’t fall apart, marking Google’s (GOOG) largest acquisition so far.Continue Reading
JHVEPhoto Barron’s said this week that ResMed (NYSE:RMD) trades at a compelling valuation after the stock sold off last month in reaction to positive data for Eli Lilly’s (NYSE:LLY) GLP-1 therapy, tirzepatide, in obstructive sleep apnea, a condition targeted by the MedTech company. In late June, Lilly (LLY) said tirzepatide,Continue Reading
JHVEPhoto Booking Holdings (NASDAQ:BKNG) shares are climbing in premarket trading, underpinned by an upgrade at Benchmark to Buy from Hold as resilience in the European travel industry coupled with better-than-expected growth in APAC should offset any impact from a stalled global economy, enabling Booking (BKNG) to outperform the consensus estimatesContinue Reading
JHVEPhoto Seagate Technology (NASDAQ:STX) and Western Digital (NASDAQ:WDC) were in focus on Friday as Citi reiterated its Buy ratings on the storage makers and added a 90-day catalyst watch to Western Digital. Shares of both companies were little changed in premarket trading. After several quarters of the storage market dealingContinue Reading
posteriori/E+ via Getty Images NiSource (NYSE:NI) +1.3% in Thursday’s trading as Mizuho initiates coverage with an Outperform rating and $33 price target, expecting the company will deliver slightly above the midpoint on its adjusted EPS annual 6%-8% growth target through 2028. NiSource’s (NI) growth outlook is attractive vs. peers andContinue Reading
JHVEPhoto Accenture’s (NYSE:ACN) proposed deal to acquire silicon design and engineering firm Cientra should continue to add to the former’s technological innovation prowess, Baird said. “The acquisition adds to ACN’s Advanced Technology Centers in India,” Baird analyst David Koning wrote in an investor note. “Cientra’s expertise in embedded IoT andContinue Reading
Jefferies on Thursday came out with a bullish stance on Spotify (NYSE:SPOT), Warner Music (NASDAQ:WMG), and Universal Music (OTCPK:UMGNF), rating them all as “buy,” with Spotify being the top pick out of the three music streamers. On Spotify, the research firm expects consistent price hikes, bundling, and gross margin expansion.Continue Reading
