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KELYA

Kelly (NASDAQ:KELYA, KELYB) has announced a definitive agreement to sell its European staffing business to Gi Group Holdings S.P.A. for up to €130 million. The transaction is expected to close in Q1 2024. This move allows Kelly to focus on higher margin, higher growth global managed service provider (MSP) solutions, global recruitment process outsourcing (RPO) solutions, and specialty outcome-based and staffing services in North America. The sale unlocks significant capital for Kelly to invest in organic and inorganic growth.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 1:32 pm

FDP

Fresh Del Monte Produce Inc. (NYSE:FDP) has announced that its Board of Directors has approved a share repurchase plan. The company may repurchase up to 500,000 of its Ordinary Shares through various methods. The plan has no time deadline and will continue until modified or terminated by the Board of Directors. The actual amount repurchased will depend on various factors including market conditions and liquidity needs.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 1:26 pm

ARRY

Array Technologies (NASDAQ:ARRY) has announced plans for a $50 million expansion in New Mexico, which includes a new manufacturing campus in Bernalillo County. The expansion is expected to secure hundreds of jobs and create nearly 100 new ones over the next few years. The state has awarded Array $2.5 million in economic assistance from the Local Economic Development Act to assist with land, buildings, and infrastructure costs. The expansion is expected to have an economic impact of more than $300 million over 10 years.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 1:07 pm

SNDR

Schneider National has revised its FY23 EPS guidance from $1.75-$1.90 to $1.40-$1.45, lower than the estimated $1.78. The company also updated its net capital expenditures to a range of $550M-$575M. The changes are due to ongoing pricing pressures, muted seasonality, and transitory cost items. The company is focusing on margin restoration and expects improving market conditions in the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 1:04 pm

GLLI

Globalink Investment Inc., a special purpose acquisition company, has extended the deadline to complete its initial business combination from November 9, 2023 to December 9, 2023. This extension is the fifth of five extensions permitted under the company's governing documents. To facilitate this, Globalink deposited $130,000 into its trust account with Continental Stock Transfer and Trust Company.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 12:53 pm

AREC

American Resources Corporation (NASDAQ:AREC) subsidiary, ReElement Technologies, has achieved an ultra-high purity of 99.96% battery-grade lithium carbonate from its patented multi-modal chromatography technology developed in partnership with Purdue University. The technology is scalable and flexible, allowing efficient separation, purification, refining, and recycling of critical elements for the electrified economy. The company expects price volatility around planned battery plants within the U.S. market in the short term.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 12:51 pm

BYND

Beyond Meat has revised its 2023 net revenue expectations to be in the range of $330M-$340M. The company also expects its capital expenditures to be between $10M-$15M.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 12:41 pm

MDU

MDU Resources has approved a plan to spin off its wholly owned construction services business, MDU Construction Services Group, into two independent, publicly traded companies. The spinoff is expected to be completed in late 2024.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 12:36 pm

THRM

Gentherm (NASDAQ:THRM) has initiated a $60 million accelerated share repurchase agreement (ASR) with Bank of America. The agreement is part of the company's ongoing stock repurchase program, which has been extended through June 30, 2024. The company will initially receive approximately 1.22 million common shares, with the final number of shares to be repurchased based on the volume-weighted average price of Gentherm's common shares during the term of the transaction.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 12:24 pm

MGPI

MGP Ingredients announced the retirement of its CEO and President, David Colo, effective December 31. David Bratcher will replace him starting January 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 12:00 pm