Streetbeat News

Equity Actions

SSNC

SS&C Technologies Holdings, Inc. (SSNC) has provided its financial guidance for FY 2023. The company expects its EPS to be between $4.57 and $4.77, which is slightly lower than the estimated $4.78. The projected revenue is between $5.469 billion and $5.575 billion, which is in line with the estimated $5.53 billion. The company does not provide reconciliations of guidance for Adjusted Revenues and Adjusted Net Income to comparable GAAP measures due to the unpredictability of certain items such as acquisition transactions, foreign exchange rate changes, and other non-cash adjustments.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 8:38 pm

SSNC

SS&C has announced a $1 billion common stock repurchase program as part of its capital allocation strategy to maximize stockholder value. The repurchases may be made on the open market or in privately negotiated purchases, depending on market conditions and in accordance with applicable rules and regulations. The timing and amount of any shares repurchased will be determined by the company's management. The repurchase program may be suspended or discontinued at any time.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:36 pm

KDP

MDLZ

Mondelez International has sold its remaining investment in Keurig Dr Pepper, approximately 23 million shares, and received about $704 million in proceeds, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:33 pm

TNXP

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) has announced its intention to offer and sell shares of its common stock and warrants in a public offering. The size of the offering has not been disclosed. The proceeds will be used for working capital, general corporate purposes, and the build out of the company's manufacturing and R&D facilities. A.G.P./Alliance Global Partners and Brookline Capital Markets are acting as placement agents for the offering.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:33 pm

ENPH

Enphase Energy, Inc (NASDAQ:ENPH) reported Q2 earnings of $1.47 per share, beating the analyst consensus estimate of $1.25. However, its quarterly sales of $711.12 million missed the analyst consensus estimate of $722.12 million. The company expects Q3 revenue between $550 million and $600 million, lower than the $748.08 million estimate. The company also announced a new share repurchase program of up to $1.0 billion. Following the report, ENPH shares were down 13.4% in after-hours trading.

Portfolio Pulse from Ryan Gustafson

July 27, 2023 | 8:31 pm

PFE

Pfizer Inc has announced a restructuring of its Research and Development organization, with Oncology becoming a stand-alone unit. Chris Boshoff, currently Chief Development Officer - Oncology, will take on the role of Chief Oncology Research and Development Officer.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 8:25 pm

ENPH

Enphase Energy, Inc. (ENPH) has announced a $1 billion stock buyback program.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 8:19 pm

FSLR

First Solar (FSLR) plans to invest up to $1.1 billion in its fifth U.S. manufacturing facility, which will add 3.5 gigawatts of nameplate capacity in 2026.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:05 pm

PFE

Pfizer Inc.'s (NYSE:PFE) share price is currently at $36.26, after a 1.47% decrease. Over the past month, the stock increased by 0.23%, but decreased by 28.20% over the past year. Pfizer's P/E ratio is 7.34, lower than the Pharmaceuticals industry average of 39.71, which could indicate that the stock is undervalued or that it might perform worse than its industry peers.

Portfolio Pulse from Benzinga Insights

July 27, 2023 | 8:00 pm

TNET

Needham analyst Kyle Peterson has reiterated a Buy rating on TriNet Group, Inc. (TNET), raising the price target to $120 from $115. Despite a challenging operating environment, TNET posted upbeat 2Q23 results, beating Street estimates. The company's board has approved a $1 billion increase to the share repurchase authorization, and management is exploring ways to repurchase up to $1 billion in stock in FY23. Peterson remains positive on TNET due to its strong momentum and solid positioning as a leading provider of PEO and HR solutions for small and medium-sized businesses.

Portfolio Pulse from Nabaparna Bhattacharya

July 27, 2023 | 7:50 pm