On February 28, Sorrento Therapeutics (SRNE) Subsidiary, Scilex, received FDA approval for non-opiod Ztlido. The drug is a lidocaine topical system used to treat pain. Sorrento hopes to have it commercially available to patients later this year. Sonal received the news and sent an alert to subscribers at 2:11 pm. The next trade took […]
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On February 15, Noble Energy, Inc. (NBL) announced that its Board of Directors has authorized a new share repurchase program totaling $750 million. The program expires in 2020 and represents 6% of the total outstanding shares at their current valuation. The company is also divesting deepwater assets in the Gulf of Mexico. Sonal sent […]
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Fresh Del Monte Produce Inc. (FDP) announced on February 21 that its Board of Directors approved a new share repurchase program. The new three-year and $300 million share repurchase program will expire on February 21, 2021. This authorization is in addition to the current $300 million share repurchase program that is set to expire on […]
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On February 13, Robert Half International Inc. (RHI) announced that its Board of Directors authorized an increase in the dividend payout to shareholders from $0.24 to $0.28. The dividend will be paid to shareholders in March. Also, the Board of Directors authorized the company’s management to repurchase up to another 10 million shares in addition […]
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On February 14, NVR Inc. (NVR) announced that its Board of Directors approved a new share repurchase program. The program is a continuation of a repurchase program first started in 1994, and it authorizes the repurchase of up to $300 million in outstanding shares. NVR operates homebuilding and mortgage banking businesses. Sonal detected the […]
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Granite Construction Incorporated (GVA) announced on February 14 that it plans to acquire Layne Christensen Company (LAYN). Both company’s Board of Directors approved Granite’s acquisition in a stock-for-stock transaction valued at $565 million, including the assumption of net debt. They expect to complete the acquisition in the second quarter of 2018. Sonal detected the […]
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On February 13, Tetra Tech, Inc. (TTEK) announced that the company was awarded a $40 million contract to develop software for the FAA. Under the contract, Tetra Tech will develop a new information system for tracking and analyzing medical information associated with pilots, air traffic controller, and other aviation personnel. Tetra Tech will support the […]
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Paycom Software Inc. (PAYC) announced on February 13 that its Board of Directors voted to update the current share repurchase program. The amendment authorizes another $100 million for share repurchases and extends the current plan until February 12, 2020. Paycom is a provider of cloud-based human capital management software. Sonal received the news at […]
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On February 9, Intuit Inc. (INTU) announced that quarterly earnings were not on target to meet previous estimates. This year, the IRS moved the date that it would begin accepting tax returns to January 29, which is six days later than last year. As a result, people started working on filing their taxes later than […]
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On February 12, CSX Corporation (CSX) announced that its Board of Directors authorized increases to both the quarterly dividend and the share repurchase program. CSX shareholders will receive a 10% increase in the quarterly dividend this March. In addition, the Board of Directors increased the authorization for share repurchases to $5 billion. Sonal detected […]
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