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Equity Actions

EAT

Brinker International announced the retirement of CFO Joe Taylor at the end of Fiscal 2024. Mika Ware will succeed him as CFO from June 27, 2024. Additionally, Chris Caldwell has been appointed as SVP and Chief Information Officer, effective Feb. 26, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:22 pm

ZM

Zoom's shares surged following the announcement of Q4 financial results that exceeded expectations, along with optimistic Q1 and FY25 adjusted EPS guidance. Additionally, the company has authorized a $1.5 billion stock repurchase program.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:19 pm

MERC

Mercer International announced that Jimmy Lee is stepping down as Executive Chairman and Director due to personal health reasons and has been named Chairman Emeritus. The company has revised its governance structure for an independent Chairman, appointing William McCartney as Interim Chairman.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:13 pm

ZM

Zoom Video Communications, Inc. has announced a $1.5 billion stock repurchase program, signaling confidence in the company's financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:12 pm

PRGS

Progress Software Corporation (NASDAQ:PRGS) announced its intention to offer $350 million of Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $52.5 million to cover overallotments. The proceeds will be used for repaying debt, funding capped call transactions, repurchasing up to $25 million of its common stock, and for general corporate purposes. The offering could affect the market price of PRGS stock due to associated capped call transactions and market activities by the option counterparties.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:12 pm

SPFI

South Plains Financial, Inc. (SPFI) has announced a new stock repurchase program, authorizing the repurchase of up to $10 million of its outstanding shares. This move is part of the company's strategy to enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:11 pm

FIVN

Five9, Inc. (NASDAQ:FIVN) announced its plan to offer $600 million in convertible senior notes due 2029 to qualified institutional buyers, with an option for an additional $90 million. The notes, convertible into cash, shares, or a combination, aim to fund capped call transactions, repurchase 2025 notes, and for general corporate purposes. Market activities related to this offering and capped call transactions may impact Five9's stock price.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:06 pm

NWBI

Northwest Bancshares, Inc. (NASDAQ:NWBI) announced Douglas M. Schosser as the new Chief Financial Officer, effective March 18, 2024. Schosser, with extensive experience including roles at Key Corporation Bank and Victory Capital Management, will replace William W. Harvey, Jr. and work alongside him through 2024 for a smooth transition. Schosser's appointment is part of Northwest Bank's ongoing transformation, emphasizing investments in digital and commercial growth while maintaining its foundational strength and stability.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:04 pm

NRXP

NRx Pharmaceuticals plans to conduct an underwritten public offering of its common stock, with the size and terms yet to be disclosed. The proceeds are intended for working capital, general corporate purposes, and potentially to repay certain outstanding debts. The offering's success is subject to market conditions.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:03 pm

CVX

Chevron (NYSE:CVX) has seen a significant uptick in options trading activity, with a notable bias towards bullish sentiment. Benzinga's options scanner revealed 20 unusual trades, with 60% being bullish and 40% bearish, indicating expectations for CVX's stock price to reach between $120 and $180 in the next three months. The company, a major player in the energy sector, has a current stock price of $154.62, with market experts setting a consensus target price of $175. The recent options activity could suggest insider knowledge or speculation on future price movements.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 8:31 pm