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NPSCY

X

A Reuters poll indicates nearly half of Japanese companies view a potential Trump presidency as a business risk, primarily due to concerns over protectionist policies. The apprehension stems from Trump's stance on blocking the acquisition of United States Steel Corporation (NYSE:X) by Nippon Steel Corporation (OTC:NPSCY), which could impact future acquisitions and shareholder interests in U.S. Steel.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 2:06 am

BROS

Dutch Bros is undertaking a large-scale organizational design initiative, moving certain positions to its Phoenix, Arizona office. This move is expected to cost $24 to $31 million, with an additional $6 to $10 million in capital expenditures for the Arizona office expansion. By January 1, 2025, about 40% of the support center staff will be located in Arizona.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:37 pm

CHRD

ERF

Chord Energy Corporation (CHRD) and Enerplus Corporation (ERF) announced a definitive arrangement to combine in an $11 billion transaction, creating a premier Williston Basin-focused E&P company. The combined entity will have 1.3 million net acres, 287,000 Boepd production in 4Q23, and is expected to generate significant free cash flow and shareholder returns. The deal, comprising 90% stock and 10% cash, will see Chord shareholders owning 67% and Enerplus shareholders 33% of the new company. The merger aims to enhance operating scale, drive returns, and achieve cost synergies up to $150 million annually, with a post-transaction return of capital at 75%+ of free cash flow.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:26 pm

ERII

Energy Recovery, Inc. (NASDAQ:ERII) announced CFO Joshua Ballard will step down at the end of June 2024. The company is working with Korn Ferry to find his replacement. Ballard has been instrumental in the company's financial and operational growth since joining in 2018. The transition aims to maintain the company's momentum in diversifying beyond its core desalination business.

Portfolio Pulse from Happy Mohamed

February 21, 2024 | 10:19 pm

RYN

XOM

Rayonier (NYSE:RYN) has expanded its underground pore space lease agreements with ExxonMobil (NYSE:XOM) to cover an additional 33,000 acres, bringing the total to approximately 59,000 acres. This expansion supports carbon capture and storage (CCS) initiatives, leveraging ExxonMobil's extensive CO2 pipeline network in the United States. Rayonier's CEO, David Nunes, highlighted the significance of this partnership in advancing towards a low-carbon economy and maximizing the value of their timberland portfolio through land-based solutions.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:11 pm

RIVN

Rivian Automotive's CEO RJ Scaringe announced during a conference call that the company will begin to experience the impact of changing suppliers in Q1 and plans to shut down its assembly line for several weeks in Q2. This adjustment is in response to consumers behaving more consciously, leading to short-term demand headwinds as reflected in the company's forecast.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:11 pm

NVRO

Nevro Corp. has entered into a cooperation agreement with Engaged Capital, leading to the appointment of Kirt P. Karros to its board. This strategic move aims to enhance shareholder value and guide Nevro's future direction.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:58 pm

INSG

Ashish Sharma has resigned as CEO of Inseego, effective February 23. The company, known by its ticker INSG, is now in the process of finding a replacement.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:57 pm

ACVA

ACV Auctions (NASDAQ:ACVA) has settled its antitrust litigation related to the AutoIMS technology platform, allowing the company to provide services to 1,300 commercial consignors using AutoIMS. This settlement enables ACV to expand its digital automotive marketplace and data services by connecting with hundreds of physical auctions. The agreement also includes ACV's participation in NAAA's membership programs and a donation to NAAA's scholarship program. The terms of the settlement are confidential, and it includes no admission of liability.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:50 pm

ALSN

Allison Transmission Holdings Inc. (NYSE:ALSN) has increased its quarterly dividend from $0.23 to $0.25 per share, marking the fifth consecutive year of dividend increases. This decision reflects the company's strong financial performance and commitment to returning capital to shareholders. The next dividend payment is scheduled for March 15, 2024, to stockholders of record as of March 4. Additionally, the company's 2024 annual meeting of stockholders is set for May 8, with a record date of March 11.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:47 pm