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MPC

Marathon Petroleum announced an additional $5 billion share repurchase authorization, having returned $2.5 billion through share repurchases and dividends this quarter, totaling $35 billion since May 2021.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:43 am

MMM

3M announced that after the spin-off of Solventum, its dividend payout ratio is expected to be around 40% of its adjusted free cash flow.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:41 am

CNP

CenterPoint Energy reaffirmed its 2024 adjusted EPS guidance of $1.61-$1.63, aligning with the consensus of $1.62. This guidance indicates an 8% growth over the 2023 non-GAAP EPS and upholds a mid-to-high end annual non-GAAP EPS growth target of 6%-8% through 2030.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:39 am

ZBRA

Zebra Technologies is implementing its 2024 Productivity Plan and Voluntary Retirement Plan to achieve $120M in annual savings. The company anticipates $50M in savings in 2023, an additional $25M in Q1 2024, and a total of $60M for the full year 2024. The Exit and Restructuring plans will cost approximately $130M, with $120M already incurred by Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:39 am

ETN

Eaton Corporation (ETN) has raised its FY24 earnings outlook, with adjusted EPS now expected to be between $10.20 and $10.60, up from the previous forecast of $9.95 to $10.35. This new range surpasses the analyst estimate of $10.25. The GAAP EPS forecast has also been increased to $8.95-$9.35 from $8.69-$9.09, against a $9.25 estimate. The adjustments account for acquisition and divestiture charges, restructuring program charges, and intangible asset amortization expense.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:35 am

ETN

Eaton Corporation (ETN) provided its Q2 and full-year 2024 earnings guidance, forecasting Q2 EPS of $2.19-$2.29, below the $2.33 estimate, and adjusted EPS of $2.52-$2.62, above the $2.50 estimate. Full-year adjusted EPS is expected to be $10.20-$10.60.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:32 am

MOS

Mosaic has entered into a Share Purchase and Subscription Agreement with the Saudi Arabian Mining Company (Ma'aden), where Mosaic will receive 111,012,433 shares of Ma'aden, valued at approximately $1.5 billion. This is in exchange for Mosaic's current 25 percent stake in the Ma'aden Wa'ad Al Shamal Phosphate Company, a joint venture among Mosaic, Ma'aden, and Saudi Basic Industries Corporation.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:16 am

POET

POET Technologies announced an additional CAD$10 million private placement financing, issuing 3,448,275 units at CAD$2.90 each, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:15 am

SLNA

Selina announced it has expedited funding under its subscription agreement, indicating a positive development in its financial strategy.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:07 am

OCSL

Oaktree Specialty Lending Corporation (OCSL) has announced a reduction in its permanent base management fee from 1.5% to 1% on gross assets, aiming to enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:05 am