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Equity Actions

BWAQ

Blue World Acquisition (BWAQ), a blank check company, has extended its deadline to complete an initial business combination to June 2, 2024. This extension provides BWAQ with additional time to identify and merge with a target company, a common practice among SPACs (Special Purpose Acquisition Companies) to ensure they find a suitable merger or acquisition opportunity.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:21 am

AAPL

Apple, Inc. (NASDAQ:AAPL) announced a record-breaking $110 billion stock buyback program and a 4.2% dividend increase, making it the largest buyback in U.S. history and surpassing the market caps of major companies like Boeing and Starbucks. This move reflects a broader trend among companies to boost shareholder returns amid stagnant revenue growth. Apple's buyback, part of a surge in U.S. stock repurchases, highlights the tech sector's dominant role in buyback activity. Despite criticism for focusing on stock performance over product innovation, Apple's stock rose 5.77% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

May 03, 2024 | 9:43 am

MGA

Magna International has updated its 2024 outlook, now expecting lower sales and adjusted net income than previously forecasted. Sales are projected to be between $42.6B and $44.2B, down from the prior estimate of $43.8B-$45.4B, against analysts' expectations of $44.443B. Adjusted net income is anticipated to be between $1.5B and $1.7B, revised from the earlier range of $1.6B-$1.8B. The company's adjusted EBIT margin and equity income projections remain unchanged, while capital spending is slightly reduced.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 9:18 am

CCEP

DEO

Coca-Cola Europacific Partners (CCEP) announced the resignation of CFO Nik Jhangiani, who will join Diageo plc (DEO) as CFO in Autumn 2024. CCEP is in the process of searching for Jhangiani's successor, while Lavanya Chandrashekar will step down from Diageo's Executive Committee and Board to make way for Jhangiani.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 7:03 am

SLNO

Soleno Therapeutics has announced a public offering of 3 million shares of common stock priced at $46 per share, aiming to raise $138 million. The underwriters have a 30-day option to buy up to 450,000 additional shares. The offering is expected to close around May 7, 2024, depending on market conditions and customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 6:07 am

EB

Eventbrite has adjusted its Q2 revenue forecast to $84M-$87M, below the estimated $88.606M, and tightened its FY24 revenue projection to $360M-$371M from a previous range of $359M-$372M, closer to the estimate of $366.428M. The company also expects its adjusted EBITDA margin for FY24 to be in the low- to mid-teens, excluding restructuring costs and other items.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:47 pm

DNMR

Danimer Scientific, Inc. (DNMR) announced a proposed pro-rata distribution of Dividend Warrants to holders of its Common Stock and other eligible recipients, contingent on stockholder approval to increase the authorized shares. The distribution aims to improve balance sheet leverage and strengthen the capital structure, offering stockholders and noteholders a path to capture value through a nondilutive warrant distribution. The Dividend Warrants are expected to list on the OTCQX market post-distribution, with an additional incentive for early exercise.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:42 pm

SEM

The Board of Directors of Select Medical has authorized a common stock repurchase program, allowing the company to repurchase up to $1 billion worth of its common stock. This move indicates the company's confidence in its financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:40 pm

SM

SM Energy has announced a 2% reduction in its FY24 capital expenditure (Capex) guidance at the midpoint. This adjustment reflects the company's financial strategy and planning for the upcoming fiscal year.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:37 pm

ATGE

Adtalem Global Education has increased its FY24 adjusted EPS guidance from $4.55-$4.75 to $4.80-$5.00, surpassing the $4.65 estimate. Additionally, revenue guidance for the same period has been raised from $1.52B-$1.56B to $1.56B-$1.58B, exceeding the $1.54B estimate.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:36 pm