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Equity Actions

IRRX

Integrated Rail and Resources Acquisition Corp. (IRRX) has announced its intention to extend the deadline to complete a business combination to February 15, 2024. This extension provides additional time for IRRX to finalize a merger or acquisition, which is a common practice for special purpose acquisition companies (SPACs) seeking to consolidate with target companies.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:56 pm

HPE

JNPR

HPE's acquisition of Juniper is expected to be accretive to its non-GAAP EPS and free cash flow in the first year after closing. The deal enhances HPE's shift towards higher-growth solutions and bolsters its high-margin networking business, aligning with its strategy for sustainable profitable growth. It is anticipated to accelerate long-term revenue growth and expand gross and operating margins.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:54 pm

SGH

SMART Global Holdings Inc. (SGH) reported Q1 adjusted EPS of $0.24, beating estimates of $0.16, but missed revenue expectations with $274.2 million versus the anticipated $274.997 million. Year-over-year revenue declined by 30.0%. The company's cash position improved to $529.059 million. SGH announced a new $75 million share repurchase authorization, totaling $150 million over two years. Q2 guidance is set for an adjusted EPS of $0.25 ± $0.10 and revenue of $285 million ± $25 million. After-hours trading saw SGH shares rise 9.37% to $20.20.

Portfolio Pulse from Ryan Gustafson

January 09, 2024 | 10:52 pm

LEN

Lennar Corporation's Board of Directors has increased the company's annual dividend from $1.50 to $2.00 per share. This increment leads to a quarterly cash dividend of $0.50 per share.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:32 pm

LEN

The board of Lennar Corporation has authorized an increase to its stock repurchase program, allowing the company to repurchase up to an additional $5 billion of its Class A or Class B common stock. This move indicates the company's confidence in its financial stability and a commitment to delivering value to its shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:31 pm

FRLA

OTHER

Fortune Rise Acquisition Corporation (NASDAQ:FRLA) has appointed Ryan Spick as the new Principal Executive Officer and Chief Financial Officer. Spick, who has a background in real estate projects, will lead the proposed business combination with Water on Demand, Inc., a subsidiary of OriginClear, Inc. (OTC:OTHER). Spick replaces Richard Brand, who is leaving for other projects, and Beau Vuillemot has taken Spick's place on the FRLA Board.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:20 pm

SGH

SMART Global Holdings' board has approved a new $75 million share repurchase program, which brings the total authorizations for buybacks to $150 million over the last two years. This move reflects the company's confidence in its financial strength and commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:12 pm

SONO

Sonos has announced Saori Casey as its new CFO, effective January 22, 2024. The current CFO and CLO, Eddie Lazarus, will transition to the role of Chief Legal and Strategy Officer. This executive shuffle is part of Sonos's strategic planning and leadership realignment.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:11 pm

BAC

NTST

WFC

NETSTREIT Corp. has initiated a public offering of 8 million shares of common stock, with an additional option for underwriters to purchase up to 1.2 million more shares. Wells Fargo Securities and BofA Securities are the joint book-running managers for this offering. The offering is contingent on market conditions and other factors.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:10 pm

SBUX

Starbucks Corporation has announced the addition of three new members to its Board of Directors: Daniel Servitje, CEO and Chairman of Grupo Bimbo; Neal Mohan, CEO of YouTube; and Mike Sievert, CEO, President, and Director at T-Mobile US, Inc. These individuals bring a wealth of experience from global operations, corporate business development, online content platforms, and telecommunications.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:07 pm