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ALKS

Alkermes has updated its 2023 adjusted EPS forecast to $1.57-$1.75, up from the previous range of $1.34-$1.57. This revision is based on the company's financial performance up to September 30, 2023, and the expected reduction in operating expenses by about $20 million following the separation of its oncology business. The cost savings are mainly due to decreased Research and Development expenses.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:14 pm

ALKS

Alkermes has finalized the spin-off of its oncology business, which has led to updated financial projections for 2023. The company now expects different revenue and expense figures due to the separation of this business segment.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:12 pm

GT

Goodyear Tire & Rubber Company has unveiled its 'Goodyear Forward' transformation plan, which includes exploring strategic alternatives for its chemical business, the Dunlop brand, and the off-the-road equipment tire business. This move is aimed at optimizing the company's portfolio and focusing on core operations.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:07 pm

PEB

Pebblebrook Hotel Trust has finalized the sale of Hotel Zoe Fisherman's Wharf for $68.5 million. The transaction is part of Pebblebrook's strategic disposition of assets and will likely impact the company's financial flexibility and portfolio optimization.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:02 pm

AAP

Advance Auto Parts is reportedly initiating sale processes for its Worldpac and Canadian business units. This strategic move could indicate a focus on core operations and a potential influx of capital from the sales.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 11:51 am

CHGG

Chegg, Inc. has announced a new $150 million accelerated share repurchase (ASR) agreement to buy back its shares, signaling confidence in the company's future and potentially increasing its earnings per share by reducing the number of shares outstanding.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 11:48 am

MANU

Sky News Reporter Mark Kleinman has indicated that Richard Arnold's imminent departure as Manchester United's CEO signals the likely arrival of Sir Jim Ratcliffe as a new investor in the club.

Portfolio Pulse from Charles Gross

November 15, 2023 | 11:27 am

ACLX

GILD

Kite, a subsidiary of Gilead Sciences, and Arcellx have broadened their collaboration on CART-ddBCMA, initially announced in December 2022, to now include lymphomas. Arcellx will receive a $200M equity investment and an $85M upfront cash payment from Kite.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 11:03 am

MOVE

Movano Health has priced a public offering of 4.23 million shares of its common stock at $0.85 per share, aiming to raise $3.6 million. The offering is anticipated to close on November 17, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 11:03 am

JD

Sandy Ran Xu, the CEO of JD.com, has taken on an additional role as CEO of JD Retail. Lijun Xin, the former CEO of JD Retail, will transition to a new position within the company. This change is effective immediately.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 9:09 am