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Equity Actions

BNED

IMMR

Barnes & Noble Education Inc (NYSE:BNED) shares surged in extended trading after shareholders approved significant equity and refinancing transactions. The company will receive $95 million in gross proceeds, including a $50 million equity investment from Immersion Corp and a $45 million equity rights offering. The refinancing will strengthen BNED's financial position and enable strategic investments.

Portfolio Pulse from Adam Eckert

June 05, 2024 | 9:22 pm

SMAR

Smartsheet Inc (NYSE:SMAR) shares surged in after-hours trading following a strong Q1 earnings report. The company reported Q1 revenue of $263 million and EPS of 32 cents, both beating estimates. Smartsheet also announced a $150 million stock repurchase program and provided optimistic guidance for Q2 and the full year.

Portfolio Pulse from Adam Eckert

June 05, 2024 | 8:56 pm

WMT

Walmart announced the results of its annual shareholders' meeting, where Brian Niccol, Chairman and CEO of Chipotle, was elected as a director.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:51 pm

AAPL

MSFT

NVDA

SPY

Nvidia Corporation (NVDA) reached a $3 trillion market cap, joining Apple (AAPL) and Microsoft (MSFT) as the third company to achieve this milestone. Nvidia's shares closed up more than 5%, driven by strong demand for its AI chips and upcoming product releases. The stock is also seeing increased attention ahead of a 10-for-1 stock split.

Portfolio Pulse from Erica Kollmann

June 05, 2024 | 8:38 pm

CDNS

Cadence Design Systems has filed for an offering of 1,740,931 shares by selling stockholders.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:37 pm

BNED

Barnes & Noble Education shares are trading higher following shareholder approval of milestone equity and refinancing transactions aimed at strengthening the company's balance sheet.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:37 pm

LPG

Dorian LPG shares are trading lower following the company's announcement of a public offering of common shares.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:35 pm

DD

DuPont has announced a plan to separate into three independent companies within 18-24 months. The company is evaluating capital structures and the impact on $7.8 billion in outstanding senior notes. Additionally, DuPont has delivered a notice for the partial redemption of $650 million in 2038 notes and expects to address other senior notes through various transactions.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:34 pm

CNA

CNA Financial Corporation (NYSE:CNA) has announced that Doug Worman will become President and CEO starting January 1, 2025. Dino E. Robusto, the current Chairman and CEO, will transition to the role of Executive Chairman.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:33 pm

BNED

IMMR

Barnes & Noble Education shareholders have approved significant equity and refinancing transactions aimed at strengthening the company's balance sheet. The company will receive $95 million in new equity capital through a $50 million equity investment and a $45 million fully backstopped equity rights offering led by Immersion Corporation. Additionally, approximately $34 million of second lien debt will be converted to equity. Shareholders also approved seven directors to serve on the board.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:32 pm