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TezNewz delivers AI-scored financial news with impact ratings from -100 to +100. Latest stories cover Unknown, Technology sectors. Top impact story: "Middleby Sells 51% of Residential Kitchen Unit in $885M Deal, Collects $540M Cash Upfront and a $135M Seller Note" with +70 impact score.
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The Middleby Corporation (NASDAQ: MIDD) has entered into a definitive agreement to sell a 51% stake in its Residential Kitchen business to 26North Partners LP for $885 million. Middleby will receive approximately $540 million in cash upfront and hold a $135 million seller note. Following this transaction, Middleby will maintain a 49% non-controlling interest in the new joint venture. This move is part of Middleby's strategy to transform into a pure-play commercial foodservice leader, with projected 2024 revenue of $2.38 billion and an Adjusted EBITDA of $654 million.
Alarm.com (NASDAQ: ALRM) has announced a strategic partnership with Everon, LLC to provide a unified dashboard for managing security, video, and access control solutions for businesses. This collaboration aims to meet the increasing demand for integrated commercial security platforms that allow for remote management and can connect with existing infrastructures. The solution is designed to cater to a wide range of commercial customers, from small businesses to multi-location enterprises.
Hormel Foods (NYSE: HRL) projects its FY2026 adjusted earnings per share (EPS) to be between $1.43 and $1.51, exceeding the analyst estimate of $1.36. The company anticipates sales in the range of $12.200 billion to $12.500 billion, compared to the analyst estimate of $12.148 billion.
Bitcoin whales have accumulated over 45,000 BTC in the past week, marking the second largest weekly accumulation of 2025, as large holders increase their positions ahead of potential market rallies. Bitcoin's price rebounded to around $93,000 after a brief dip below $86,000, with analysts suggesting that this accumulation could tighten supply and support future price increases. Institutional adoption is also on the rise, with Vanguard reversing its ban on Bitcoin ETFs and Bank of America recommending cryptocurrency allocations. JPMorgan projects Bitcoin could reach $150,000 to $170,000 within a year, contingent on monetary easing and market conditions.
Norway has halted its deep-sea mining ambitions, agreeing not to issue any licenses in its waters until at least 2029 due to political pressure and environmental concerns. This marks a significant policy reversal from last year when lawmakers approved exploration across 386 offshore blocks. Meanwhile, The Metals Company (NASDAQ:TMC) has gained 543.33% year-to-date as it advances its mining plans in the Clarion-Clipperton Zone, which contains an estimated 1.63 billion tons of polymetallic nodules.
HC Wainwright & Co. analyst Raghuram Selvaraju has reiterated a Buy rating on Cognition Therapeutics (NASDAQ: CGTX) and maintained a price target of $3 per share. No additional financial figures or strategic changes were mentioned in the article.
BTIG analyst Janine Stichter has maintained a Buy rating on Steven Madden (NASDAQ: SHOO) and raised the price target from $43 to $50. This adjustment reflects a positive outlook for the company's stock performance.
Needham analyst Scott Berg has maintained a 'Buy' rating on Global E Online (NASDAQ: GLBE) and increased the price target from $40 to $47. This adjustment reflects a positive outlook for the company's performance.
BRP (TSX: DOO) reported Q3 adjusted earnings per share of $1.59, surpassing the analyst estimate of $1.24 by 28.23%, and reflecting a 37.07% increase from $1.16 in the same period last year. The company also reported quarterly sales of $2.250 billion, exceeding the consensus estimate of $2.077 billion by 8.32%, and marking a 15.03% increase from $1.956 billion in the previous year.