All articles tagged with #corporate finance
Originally Published 2 months ago — by Financial Times
Apollo and KKR have invested $7 billion into Keurig Dr Pepper, highlighting significant financial backing for the company.
Originally Published 2 months ago — by TipRanks
iRobot has obtained waivers to prevent a potential financial default, securing its financial stability amid challenges.
Originally Published 4 months ago — by The New York Times
Some major American companies affected by President Trump's tariffs are being approached by Wall Street firms to sell their refund rights at a discount, betting that legal challenges may overturn the tariffs and lead to profitable refunds, prompting companies to consider these offers amid legal and financial uncertainties.
Originally Published 1 year ago — by Bloomberg
Wall Street bankers, including those from Morgan Stanley, are eyeing significant profits from the current excitement surrounding artificial intelligence, with major private capital firms like Apollo Global Management and Blackstone also involved. These firms are increasingly challenging traditional banks' dominance in corporate finance, as the AI sector is projected to reach a $1 trillion valuation.
Originally Published 1 year ago — by Cointelegraph
MicroStrategy has increased its Bitcoin holdings to 279,420 BTC, valued at nearly $23 billion, after purchasing 27,200 BTC for approximately $2.03 billion. The company funded these purchases by selling shares, reflecting a strong commitment to Bitcoin despite its high market price. MicroStrategy's Bitcoin yield was 7.3% from October 1 to November 10, and its return on investment has surpassed 100%. The firm remains the largest corporate holder of Bitcoin, significantly ahead of other companies like Marathon Digital and Riot Platforms.
Originally Published 1 year ago — by Yahoo Finance
GameStop shares surged up to 25% in late trading after the company raised nearly $1 billion through a share sale program, capitalizing on recent trading flurries. The funds will be used for general corporate purposes, including potential acquisitions and investments. Despite the stock jump, GameStop's underlying business continues to struggle as gamers increasingly opt for digital downloads over physical store visits.
Originally Published 1 year ago — by AbbVie
AbbVie reported a decrease in full-year and fourth-quarter 2023 financial results, with diluted EPS and net revenues declining. The company announced definitive transaction agreements to acquire ImmunoGen and Cerevel Therapeutics, strengthening its oncology and neuroscience portfolios. AbbVie provided adjusted diluted EPS guidance for 2024 and reaffirmed expectations for high single-digit compound annual revenue growth rate through 2029, raising outlooks for certain product revenues. The company also announced positive clinical trial results for various therapies and a research collaboration with BigHat Biosciences.
Originally Published 1 year ago — by Fortune
Fintech giant Brex, valued at $12.3 billion, is laying off 20% of its staff, with the CTO transitioning to an advisor role. This comes after reports of high cash burn, with the company reducing its monthly burn but still facing significant annual costs. The layoffs follow previous staff reductions in 2022 and 2020, and affected employees will receive severance.
Originally Published 2 years ago — by Yahoo Finance
Companies that relied on cheap credit to fund large mergers and acquisitions (M&A) during the boom times are now facing challenges in delivering on their promises and servicing their debt loads in a new environment of higher interest rates and weakening consumer demand. An analysis of 75 of the largest corporate acquisitions over the past five years, totaling nearly $1.3 trillion, reveals that less than half of the companies have managed to reduce leverage ratios since their acquisitions. Almost a third of the firms now have leverage ratios above 3.5, compared to 16 at the time of the acquisitions. The need to refinance debt and deliver on synergies or earnings growth is becoming a concern, especially as cash buffers erode, sales decline, and the risk of recession looms. Companies such as Walgreens, Rogers Communications, and International Flavors & Fragrances have seen their creditworthiness slide, while others, like Warner Bros. Discovery and SAP, continue to seek smaller bolt-on acquisitions. However, caution is advised as higher interest rates may lead to downgrades and mistakes in dealmaking.
Originally Published 2 years ago — by MarketWatch
Nikola Corp's shares fell 5.7% in after-hours trading following a public offering of up to $100 million of its common stock and a forward stock purchase agreement with an investor. The electric vehicle maker plans to use the net proceeds for working capital and general corporate purposes.