Sean Hannon/iStock via Getty Images SM Energy (NYSE:SM) is in advanced talks to acquire Utah oil and gas producer XCL Resources, in a deal that would value the privately-held company at ~$3B, Bloomberg reported late Wednesday. SM Energy (SM) reportedly could announce a deal with XCL backers including EnCap InvestmentsContinue Reading
lyash01/iStock via Getty Images US Steel (NYSE:X) +4.2% after BMO Capital upgraded the company to Outperform from Market Perform with a $45 price target, raised from $43, saying shares are “fundamentally undervalued” with or without a Nippon Steel deal. BMO analyst Katja Jancic says US Steel’s (X) investments in mini-mill/EAFContinue Reading
tifonimages/iStock via Getty Images Lundin Mining (OTCPK:LUNMF) +3.6% in Wednesday’s trading after saying it will exercise its option to increase its ownership of the Caserones copper and molybdenum mine in Chile to 70% by acquiring an additional 19% interest for C$350M. With the call option exercise, Lundin (OTCPK:LUNMF) will beContinue Reading
Shares of Aptiv plc (NYSE:APTV) are on the defensive Wednesday following a downgrade by Piper Sandler to Underweight, driven by concerns over the negative impact of Rivian’s (RIVN) joint venture with Volkswagen (VWAGY, VWAPY). On Tuesday, Rivian (RIVN) received a multi-billion-dollar investment from Volkswagen (VWAGY, VWAPY) to form a jointContinue Reading
Sitthipong Pengjan/iStock Editorial via Getty Images Capri Holdings (NYSE:CPRI) edged higher by 0.5% after an investor said he sees the potential for 70% upside for the luxury goods company even if the company doesn’t complete its planned sale to Tapestry (TPR). Maven Investment Partners’ senior portfolio manager Manuel Blanco stillContinue Reading
Massimo Giachetti/iStock Editorial via Getty Images Nasdaq (NASDAQ:NDAQ) said on Wednesday that its previously announced agreement to sell Nasdaq’s Nordic power trading and clearing business to the European Energy Exchange was terminated, the company said in a statement on Wednesday. The company didn’t provide a reason for why the dealContinue Reading
Spencer Platt/Getty Images News Rivian Automotive (NASDAQ:RIVN) shot up in early trading on Wednesday after the electric vehicle maker jointly announced with Volkswagen (OTCPK:VLKAF) the formation of a joint venture to share electric vehicle architecture and software. Bank of America analyst John Murphy said the news is meaningfully positive forContinue Reading
Gargolas/iStock via Getty Images Texas geothermal company Fervo said Tuesday that Southern California Edison (NYSE:EIX) signed power purchase agreements for power from its advanced geothermal project under construction in southwest Utah; financial terms were not disclosed. In terms of megawatts, Fervo said the deal for 320 MW – the equivalentContinue Reading
Taitai6769/iStock via Getty Images Sen. Sherrod Brown (D-OH) and two other Democrat senators sent a letter urging the Biden administration to issue an executive order blocking Nippon Steel’s (OTCPK:NISTF) planned almost $15 billion purchase of US Steel (NYSE:X). US Steel fell 4.3%. “Given the clear and present threats that NipponContinue Reading
ra2studio KKR (NYSE:KKR) has acquired more than 5,200 apartment units across the U.S. for $2.1B in its biggest purchase of apartment buildings ever, according to a media report. The transaction indicates that KKR is confident that the sector will rebound after a building boom weighed on rent growth in theContinue Reading
