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Nvidia Investing $3.5 Billion in MediaTek, Partners on NVLink Fusion Platform
US Markets

Nvidia Investing $3.5 Billion in MediaTek, Partners on NVLink Fusion Platform

Nvidia (NVDA) expanded its partnership with chip designer MediaTek, including a $3.5 billion investment, to support adoption of the company's proprietary interconnect technology for custom rack-scale artificial intelligence chips.Under the deal, Nvidia bought $3.5 billion convertible bonds issued by MediaTek, and the Taiwan-based fabless chipmaker will adopt the NVLink Fusion platform, which provides chipmakers with prevalidated connectors and specialized memory to integrate custom AI accelerators directly into Nvidia's rack-scale data center systems."MediaTek is one of the world's great semiconductor companies, with exceptional expertise in system-on-chip design, connectivity, leading performance and power efficiency," Nvidia Chief Executive Jensen Huang said. "Together, we're building platforms that bring Nvidia accelerated computing to new markets and give customers the freedom to create differentiated AI systems at enormous scale.""Nvidia's investment strengthens a collaboration that spans cloud AI infrastructure, local AI computing and automotive in the era of physical AI," MediaTek CEO Rick Tsai said.Last week, Nvidia reported fiscal second-quarter results that more than doubled from a year ago and topped Wall Street expectations, driven by record data center sales. Morgan Stanley said the chipmaking giant offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs.Separately, Nvidia announced an expanded partnership with Amazon.com's (AMZN) Amazon Web Services to supply 2 million additional GPUs across AWS infrastructure in 2027 and 2028, and build dedicated 100,000-GPU AI factories for federal security workloads.Earlier in August, Nvidia said it was collaborating with six major financial institutions to launch compute financing platforms aimed at raising over $500 billion in third-party capital to support its AI infrastructure. Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BAM), Goldman Sachs (GS) and KKR (KKR) were part of the partnership.Previously, Nvidia agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative.Nvidia's shares were up 1.1% Monday and have gained 18% this year.Chip designer Marvell Technology (MRVL) reported late last week second-quarter results above Wall Street's estimates amid a surge in data center revenue. B. Riley Securities said the company's fiscal third-quarter gross margin outlook came in a bit soft amid a higher custom product mix.Semiconductor manufacturer Broadcom (AVGO) is scheduled to report its fiscal third-quarter results Wednesday.Price: $220.40, Change: $+2.85, Percent Change: +1.31%

$AMZN$APO$AVGO$BAM$BLK$BX$GS$KKR$MRVL$NVDA
Nvidia's Second-Quarter Results More Than Double Amid Record Data Center Sales
US Markets

Nvidia's Second-Quarter Results More Than Double Amid Record Data Center Sales

Nvidia's (NVDA) fiscal second-quarter results more than doubled from a year ago and topped Wall Street expectations amid record data center sales.The technology bellwether's revenue climbed 106% annually to $96.22 billion, exceeding the consensus on FactSet indicating $92.27 billion. Adjusted per-share earnings increased to $2.22 in the three months ended July 26 from $1.01 a year earlier. Analysts expected $2.11.Data center revenue jumped 117% to a record $89.02 billion, driven by its Blackwell Ultra graphics processing unit infrastructure, Chief Financial Officer Colette Kress said. Consensus pointed to $86.30 billion in data center sales."AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue," Chief Executive Jensen Huang said in a statement. "The AI infrastructure buildout is at full steam. Vera Rubin, now in full production, was built to power exactly this moment."Vera Rubin is Nvidia's next-generation AI supercomputing platform.Hyperscale revenue rallied 102% from the prior-year quarter, while the AI cloud, industrial and enterprise segment surged 138%."Nvidia has become both the largest direct beneficiary and one of the best real-time indicators of AI infrastructure investment," Ivan Feinseth, chief market strategist at Tigress Financial Intelligence, said in a note to clients this week.For the fiscal third quarter, the company expects consolidated revenue of $108 billion, plus or minus 2%. Wall Street expects $104.86 billion.Wedbush Analyst Matt Bryson expected Nvidia's third-quarter revenue guidance to top expectations, according to a note sent to clients ahead of Wednesday's release. Bryson reiterated his outperform rating and a $330 price target on the company."We again expect (Nvidia) to exceed its guidance and to guide October above Street, given a strong hyperscale spending backdrop that firmed further through (second-quarter) earnings, and a supply position we continue to view as the best in the industry at a point where component and material access, not end demand, is defining shipments," the analyst said.The chipmaker's stock slipped 0.3% in after-hours trading, and had gained about 12% this year through Wednesday close.Earlier in August, Nvidia said it partnered with six major financial institutions to launch compute financing platforms aimed at raising over $500 billion in third-party capital to support its AI infrastructure. Those six firms are Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BAM), Goldman Sachs (GS) and KKR (KKR).Previously, Nvidia agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative.In August, chipmaker Advanced Micro Devices (AMD) posted fiscal second-quarter results that beat estimates and issued third-quarter revenue guidance above Wall Street's views.Intel's (INTC) second-quarter results topped analysts' consensus in July. Semiconductor manufacturer Broadcom (AVGO) is scheduled to report fiscal third-quarter results Sept. 2.

$AMD$APO$AVGO$BAM$BLK$BX$GS$INTC$KKR$NVDA
Wire

Market Chatter: Nvidia Partners With Wall Street Giants on $500 Billion AI Infrastructure Funding Package

Nvidia (NVDA) is working with some of the world's largest financial firms to build a $500 billion funding package for AI infrastructure development, the Financial Times reported Monday, citing five people briefed on the talks.Apollo Global Management (APO), Blackstone (BX), BlackRock's (BLK) Global Infrastructure Partners, Brookfield Asset Management (BAM), Goldman Sachs (GS) and KKR (KKR) are among the companies that have joined the consortium in partnership with Nvidia, the report said, citing the people.The deal could be announced as soon as Monday, the people reportedly told the FT.The companies didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $217.82, Change: $-6.15, Percent Change: -2.74%

$APO$BAM$BLK$BX$GS$KKR$NVDA
Wire

Nvidia Partners With Wall Street Giants to Build $500 Billion AI Infrastructure Funding Package, FT Reports

Nvidia Partners With Wall Street Giants to Build $500 Billion AI Infrastructure Funding Package, FT Reports

$APO$BAM$BLK$GS$KKR$NVDA
Wire

Brookfield Asset Management is Well-Positioned Heading Into Its Fundraising Cycle, RBC Says

Brookfield Asset Management (BAM) is well-positioned heading into its fundraising cycle with private equity and infrastructure flagships, further supported by additional AI tailwinds, RBC Capital Markets said in a Thursday research report.Brookfield is poised to benefit from the AI digital infrastructure buildout, with the company already forming a partnership with OpenAI to advance enterprise AI adoption, according to the note.The company has reached a structurally higher yearly fundraising level, and this trend is likely to continue into 2027 and 2028, according to the note.The brokerage said it reiterated its outperform rating on the stock and price target of $65 per share.Price: $52.78, Change: $+0.15, Percent Change: +0.29%

$BAM
Sectors

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks rose in late Tuesday afternoon trading with the NYSE Financial Index advancing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 1.1%.The Philadelphia Housing Index climbed 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.1%.Bitcoin (BTC-USD) increased 0.1% to $63,726, and the yield for 10-year US Treasuries fell 3.7 basis points to 4.604%.In economic news, the Conference Board's measure of consumer confidence decreased to 90.8 in July from 92.2 in June, below the 92.4 expected in a Bloomberg-compiled survey.The Case-Shiller National Home Price Index rose 0.6% in May, after a 0.8% increase in April, before seasonal adjustment. National home prices were up 1.1% year-over-year, up from 0.9% in April.In corporate news, Visa (V) plans to trim around 2,600 jobs as part of CEO Ryan McInerney's plan to streamline operations. The cuts, representing 7% of its workforce, will mainly affect technology and product teams. Visa shares rose 1.9%.PayPal (PYPL) raised its full-year adjusted earnings guidance after reporting Q2 results above consensus estimates. Its shares gained 4.5%.Brookfield Asset Management (BAM) plans to focus renewable energy investments in India on states with stronger power grids as transmission constraints limit wind and solar generation elsewhere, Bloomberg reported Tuesday. Brookfield shares added 0.9%.State Street (STT) said Tuesday it reached a preliminary deal to buy a securities services joint venture operating in Brazil, Mexico, and Colombia from Santander (SAN) and Caceis. The targeted business manages about $470 billion in assets under custody alongside $225 billion in assets under administration, the company said. State Street shares were down 1.1%, and Santander was shedding 0.2%.

$BAM$PYPL$SAN$STT$V
Sectors

Sector Update: Financial Stocks Higher Tuesday Afternoon

Financial stocks rose in Tuesday afternoon trading with the NYSE Financial Index advancing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 1.2%.The Philadelphia Housing Index climbed 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.2%.Bitcoin (BTC-USD) rose 0.5% to $63,978, and the yield for 10-year US Treasuries fell 4.3 basis points to 4.598%.In economic news, US consumer confidence unexpectedly fell in July, with "little improvement" in business conditions expected over the next six months, a survey by the Conference Board showed Tuesday. The consumer confidence index dropped to 90.8 this month from June's upwardly revised reading of 92.2. The consensus was for a 92.4 print in a Bloomberg survey.In corporate news, Visa (V) plans to trim around 2,600 jobs as part of CEO Ryan McInerney's plan to streamline operations. The cuts, representing 7% of its workforce, will mainly affect technology and product teams. Visa shares rose 1.8%.Brookfield Asset Management (BAM) plans to focus renewable energy investments in India on states with stronger power grids as transmission constraints limit wind and solar generation elsewhere, Bloomberg reported Tuesday. Brookfield shares added 0.8%.Barclays (BCS) Chief Financial Officer Anna Cross said Tuesday it is shifting its compensation model toward a Wall Street-style structure by increasing performance-based pay while reducing fixed salaries for senior bankers, according to Bloomberg. Barclays shares fell 5.4%.

$BAM$BCS$V
Sectors

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks advanced in late Monday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.9%.The Philadelphia Housing Index was up 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.3%.Bitcoin (BTC-USD) was declining 0.7% to $64,905, and the yield for 10-year US Treasuries fell 3.8 basis points to 4.641%.In corporate news, Brookfield Asset Management (BAM) has raised $2 billion for Brookfield Middle East Partners, a new private equity fund anchored by Saudi Arabia's Public Investment Fund and other institutional partners, PIF said Monday. Brookfield Asset Management shares rose 2.5%.TPG (TPG) is engaged in exclusive talks to buy Macquarie-backed Netrality Data Centers, Bloomberg reported. TPG shares were up 0.4%.Ares Management (ARES) held discussions to acquire private equity firm Leonard Green & Partners to expand its private equity business, the Financial Times reported. Ares shares added 0.6%.Bank of Hawaii (BOH) reported higher-than-expected Q2 earnings, but revenue growth fell short of market expectations. Its shares fell 4.4%.

$ARES$BAM$BOH$TPG
Sectors

Sector Update: Financial

Financial stocks were higher in late Monday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.9%.The Philadelphia Housing Index was climbing 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.3%.Bitcoin (BTC-USD) was declining 0.7% to $64,905, and the yield for 10-year US Treasuries fell 3.8 basis points to 4.641%.In corporate news, Brookfield Asset Management (BAM) has raised $2 billion for Brookfield Middle East Partners, a new private equity fund anchored by Saudi Arabia's Public Investment Fund and other institutional partners, PIF said Monday. Brookfield Asset Management shares rose 2.3%.

$BAM
Wire

Brookfield Raises $2 Billion for PIF-Anchored Middle East-Focused Fund

Brookfield Asset Management (BAM) has raised $2 billion for Brookfield Middle East Partners, a new private equity fund anchored by Saudi Arabia's Public Investment Fund and other institutional partners, PIF said Monday.The funds will go toward investments in the Middle East, focusing on high-growth Gulf Cooperation Council markets, with 50% of investments allotted in Saudi Arabia, the wealth fund said.Brookfield is committing $500 million to the fund, PIF said.Shares of Brookfield were up 2.1% in Monday afternoon trading.Price: $47.34, Change: $+0.98, Percent Change: +2.13%

$BAM
Oil & Energy

Kuwait Oil Signs $16 Billion Oil Pipeline Deal With Investor Consortium

Kuwait Petroleum subsidiary Kuwait Oil has finalized a $16 billion deal to lease and lease back its crude oil pipeline network with a group of investors led by Blackstone (BX), Brookfield Asset Management (BAM), and KKR (KKR), it said on Saturday.The agreement involves the formation of a joint venture, in which Blackstone, Brookfield, and KKR will collectively hold a 49% stake, and Kuwait Oil will hold 51%.The JV will lease 13 pipelines, totaling about 320 kilometers in length. After 20.5 years, Kuwait Oil will again operate and maintain the pipeline assets in exchange for a volume-based tariff, according to the statement."The JV will not impose any restrictions on Kuwait's refining throughput or production volumes, all of which remain subject to decisions made by the State of Kuwait," the company said.Kuwait Oil is expected to receive $7.85 billion in upfront proceeds upon closing of the JV.Price: $133.45, Change: $+3.48, Percent Change: +2.68%

$BAM$BX$KKR
Commodities

Brookfield to Acquire Battery Storage Developer Aypa Power From Blackstone in $7 Billion Deal

Brookfield Asset Management (BAM) said on Wednesday, that it had entered into an agreement to acquire Aypa Power, an Austin-based utility-scale energy storage provider in a $7 billion deal, from Blackstone (BX).Aypa is the largest standalone battery storage developer in North America, with about 6.5 gigawatts of operating, under-construction and contracted battery storage capacity, supported by a development pipeline exceeding 20 GW across the US and Canada.The transaction, which values Aypa at an equity value of $3 billion, includes its operating, under-construction and contracted battery storage assets, its development platform, and its roughly 200-person workforce.The deal is aimed at providing Brookfield a dominant position in the North American battery energy storage systems market.In its press release, Brookfield noted that Aypa's portfolio was 95% contracted, with long-term agreements with investment-grade customers, resulting in predictable cash flows for the company.Besides this, the investment management giant plans to leverage its own operating and development experience to accelerate Aypa's pipeline.Jehangir Vevaina, the Chief Investment Officer at Brookfield Energy, said battery storage has become "increasingly critical" to the "reliability and resilience" of modern power systems, while noting that the two companies together could deliver integrated energy solutions to large-scale power customers.

$BAM$BX
Sectors

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index down 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) declining 0.5%.The Philadelphia Housing Index was falling 2.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was off 0.6%.Bitcoin (BTC-USD) was rising 0.8% to $65,190, and the yield for 10-year US Treasuries climbed 5.7 basis points to 4.598%.In economic news, the Conference Board's measure of leading indicators declined by 0.2% in June, larger than the 0.1% decrease expected in a Bloomberg-compiled survey, following a 0.1% increase in May.In corporate news, Truist Financial (TFC) shares fell 3.3% after JPMorgan downgraded the stock to underweight from neutral and lowered its price target to $53 from $53.50.LXP Industrial Trust (LXP) has agreed to be acquired by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity. LXP shares rose 4.2%, and Brookfield was down 1.8%.BlackRock (BLK) is attempting to sell over $12 billion in bonds to finance a data center in El Paso, Texas, Bloomberg reported. BlackRock shares were down 1.5%.KKR (KKR) and Vauban Infrastructure Partners are among the shortlisted suitors seeking to buy a majority stake in Portuguese fiber operator DStelecom, Bloomberg reported. KKR shares fell 4.1%.

$BAM$BLK$KKR$LXP$TFC
Sectors

Sector Update: Financial Stocks Decline Monday Afternoon

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index down 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) declining 0.3%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was off 0.6%.Bitcoin (BTC-USD) was rising 1% to $65,342, and the yield for 10-year US Treasuries was climbing up 6 basis points to 4.602%.In corporate news, LXP Industrial Trust (LXP) has agreed to be acquired by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity. LXP shares rose 4.2%, and Brookfield was down 1.4%.BlackRock (BLK) is attempting to sell over $12 billion in bonds to finance a data center in El Paso, Texas, Bloomberg reported. BlackRock shares were shedding 1%.KKR (KKR) and Vauban Infrastructure Partners are among the shortlisted suitors seeking to buy a majority stake in Portuguese fiber operator DStelecom, Bloomberg reported. KKR shares were down 3.4%.

$BAM$BLK$KKR$LXP
Sectors

Sector Update: Financial

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index down 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.2%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.6%.Bitcoin (BTC-USD) was rising 1% to $65,342, and the yield for 10-year US Treasuries was climbing 6 basis points to 4.602%.In corporate news, LXP Industrial Trust (LXP) has agreed to be acquired and taken private by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity. LXP Industrial Trust shares rose 4.2%, and Brookfield Asset Management added was down 1.4%.

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Wire

Top Midday Stories: Brookfield, CPP Investments to Acquire LXP; Google Working on New Server Chip

The Dow Jones Industrial Average was down, while the S&P 500 and Nasdaq Composite were up, as chipmakers traded higher to kick off the week.In company news, Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board agreed to acquire LXP Industrial Trust (LXP) in an all-cash deal valued at around $5.2 billion, including net debt and preferred equity, LXP said Monday. Under the terms of the transaction, which is expected to close in Q4, LXP shareholders will receive $61.20 per share in cash. Brookfield shares were down 1.3% around midday, while LXP shares were up 4.2%.Alphabet's (GOOG, GOOGL) Google is working on a new server chip that will allow it to serve its AI models to users more efficiently, The Information reported Monday, citing two people with direct knowledge of the matter. Google plans to use the new chip to help address shortages in AI computing capacity, as the tech giant's workers project it could be 6 to 10 times more efficient than the latest version of its existing line of homegrown AI chips when it launches, the report said, citing the people. Google Class C shares were up 3.1%, while its Class A shares were up 3.0%.SpaceX (SPCX) said Sunday that it is preparing to launch the 13th flight test of Starship as early as Thursday. SpaceX shares were down 1.0%.Alibaba Group's (BABA) AliExpress unit was fined 550 million euros ($628.9 million) by the European Commission for failing to comply with the Digital Services Act, the European Commission said Monday. The EC penalized the web platform for failing to diligently assess and mitigate risks tied to the sale of counterfeit and hazardous items, it said. Alibaba shares were up 4.4%.Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Financial terms of the deal were not disclosed. Bristol shares were up 0.1%, while Nvidia shares were up 1.7%.Price: $47.71, Change: $-0.62, Percent Change: -1.28%

$BABA$BAM$BMY$GOOG$GOOGL$LXP$NVDA$SPCX
LXP Industrial Trust Agrees to Go Private in $5.2 Billion Acquisition Deal
US Markets

LXP Industrial Trust Agrees to Go Private in $5.2 Billion Acquisition Deal

LXP Industrial Trust (LXP) has agreed to be acquired and taken private by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity.Shareholders of LXP Industrial will receive $61.20 per share in cash, representing a premium of about 12% to the real estate investment trust's 30-day average price as of Friday, the companies said in a joint statement Monday.Shares of LXP Industrial rose 4% in Monday trade, taking its year-to-date gain to 22%."This transaction is the culmination of the LXP team's successful execution of our strategic plan to transform LXP into a pure-play industrial REIT," LXP Industrial Chief Executive Thomas Eglin Jr. said in the statement. "The LXP board unanimously determined that this transaction with Brookfield and CPP Investments fully maximizes value for our shareholders."LXP Industrial has warehouse and logistics facilities, comprising 108 properties in industrial markets in the Sunbelt and Midwest. The companies said the portfolio is "well positioned" to benefit from demand for logistics properties."The industrial sector, particularly in the US, continues to offer attractive long-term investment opportunities, supported by structural demand drivers including domestic manufacturing, evolving global supply chains and population growth across key Sunbelt markets," said Sophie van Oosterom, managing director and head of real estate at CPP Investments.The transaction, which requires approval from LXP Industrial's shareholders, is expected to close in the fourth quarter. Following completion, the company's shares will no longer trade on the New York Stock Exchange."LXP has assembled a high-quality industrial portfolio with modern logistics assets in attractive markets," Brookfield Real Estate CEO Lowell Baron. "The acquisition aligns with our strategy of investing in high-quality real estate with durable cash flows and opportunities to create value through active asset management."The deal allows LXP to consider alternative acquisition proposals until Aug. 28. LXP Industrial suspended its dividend payments until the deal completes or is canceled.In April, the company reported adjusted funds from operations of $0.80 a share for the first quarter, up from $0.78 a year earlier. Total gross revenue decreased to $85.9 million from $88.9 million in the prior-year quarter.Price: $60.83, Change: $+2.32, Percent Change: +3.97%

$BAM$LXP
Mining & Metals

Brookfield Asset Management Takes Stakes in Two US Companies for a Combined $7.3 Billion

Brookfield Asset Management (BAM.TO, BAM) on Monday said it entered two multibillion-dollar deals, agreeing to a joint venture to acquire outpatient medical buildings in the United States and teaming up with the Canada Pension Plan Investment Board to acquire LXP Industrial Trust (LXP) for $5.2 billion.The company said it formed a joint venture with Healthpeak Properties (DOC) for a 49% stake in outpatient facilities valued at $2.1 billion. It paid its partner $1.03 billion for the stake. Healthpeak will continue to manage the properties, providing asset management, leasing, and property management services. Healthpeak retains a seven-year right to buy back Brookfield's interest by providing its junior partner with a 6.5% return on its investment.Brookfield also on Monday said it and the CPP Investment Board agreed to acquire LXP Industrial Trust for $5.2 billion, including debt. The company said LXP "owns one of the largest portfolios of modern warehouse and logistics facilities in the US, comprising approximately 53 million square feet across 108 properties in attractive industrial markets in the Sunbelt and Midwest".LXP shareholders will receive $61.20 per share, a 12.3% premium to its 30-day weighted average price on the New York Stock Exchange."The acquisition aligns with our strategy of investing in high-quality real estate with durable cash flows and opportunities to create value through active asset management. We're excited to partner with CPP Investments and build on LXP's strong foundation," Lowell Baron, CEO of Brookfield Real Estate, said in a release.Brookfield shares opened down C$0.01, or 0.2%, to C$67.70 on the Toronto Stock Exchange.Price: $67.72, Change: $+0.01, Percent Change: +0.01%

$BAM$BAM.TO$DOC$LXP
Sectors

Sector Update: Financial Stocks Decline Pre-Bell Monday

Financial stocks were declining pre-bell Monday, with the State Street Financial Select Sector SPDR ETF (XLF) marginally lower.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board agreed to acquire LXP Industrial Trust (LXP) in an all-cash transaction valued at around $5.2 billion, including net debt and preferred equity, LXP said. Shares of Brookfield Asset Management were down 0.4% premarket.Blackstone (BX) has agreed to make a "significant investment" in South Korea-based actuator supplier Futronic, the company said. Blackstone stock was 0.7% higher pre-bell.KKR (KKR) and property investor AEW Capital Management may separately sell commercial real estate in China at losses, Bloomberg reported. KKR shares were 0.9% higher premarket.

$BAM$BX$FAS$FAZ$KKR$LXP$XLF
Sectors

Sector Update: Financial

Financial stocks were edging higher pre-bell Monday, with the State Street Financial Select Sector SPDR ETF (XLF) marginally advancing.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board agreed to acquire LXP Industrial Trust (LXP) in an all-cash transaction valued at around $5.2 billion, including net debt and preferred equity, LXP said. Shares of Brookfield Asset Management were down 0.4% premarket.

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