Aramark reported strong fourth-quarter earnings, exceeding analysts’ expectations. The company also announced a significant share repurchase program and raised its price target, signaling optimism for future growth. Analyst Jasper Bibb maintains a Buy rating on the stock.
Cigna Group has officially denied rumors of a merger with Humana, reiterating its commitment to strategic acquisitions. The company also reaffirmed its projected full-year earnings and outlined plans for continued share repurchases, including the use of proceeds from the sale of its Medicare businesses.
Aramark (ARMK) stock is trading higher after the company reported strong fourth-quarter earnings, including revenue growth driven by strong volume across both segments. The company also raised its quarterly dividend and announced a new share repurchase program. Aramark expects continued growth in the coming year, with organic revenue growth projected to be between 7.5% and 9.5%.
Fluor Corporation (FLR) saw its shares tumble by over 16% after its third-quarter earnings fell short of analysts’ expectations. Revenue growth missed estimates, and adjusted earnings per share declined significantly year-over-year. Despite a surge in backlog, the company’s adjusted EBITDA and margins also contracted. However, Fluor announced plans to expand its share repurchase program and expects a significant gain from deconsolidating NuScale. The company also tightened its 2024 outlook.
Applied Digital Corporation, a leader in next-generation digital infrastructure for high-performance computing, has successfully completed a $450 million offering of convertible senior notes. The company plans to utilize the proceeds for share repurchases, capped call transactions, and general corporate purposes, demonstrating its commitment to strategic growth and shareholder value.
TE Connectivity (TE Connectivity plc TEL) reported strong fourth-quarter and full-year fiscal 2024 results, exceeding guidance and setting records in key performance areas. The company achieved record operating margins, EPS, and cash generation, driven by strong operational performance and growth in key segments like Transportation, Industrial, and Communications. To further bolster shareholder value, the board of directors authorized a $2.5 billion increase to the share repurchase program.
Shares of ADT Inc. (ADT) are trading lower by 6.5% after the company announced a proposed secondary public offering of 56 million shares and a concurrent 16 million share repurchase by selling shareholder Apollo Global Management. The offering is expected to close on October 30th, 2024.
Ulta Beauty has outlined its long-term growth plan, aiming for profitable growth through four key areas: assortment, experience, access, and loyalty. The company also reaffirmed its fiscal year 2024 guidance while outlining its plans for future expansion and shareholder value creation. Despite the announcement, ULTA shares are trading lower, reflecting investor sentiment about the near-term challenges and the overall market conditions.
Green Thumb Industries (GTII), the cannabis company behind RISE Dispensaries, will release its third-quarter financial results on November 7th, 2024. The company also announced a $50 million share repurchase program, highlighting its commitment to shareholder value and strategic growth in the U.S. cannabis market.
Caesars Entertainment Inc. (CZR) shares soared on Wednesday after the company announced a $500 million share repurchase program, following the completion of its previous buyback. This move, coupled with the company’s plan to issue $1 billion in senior notes, indicates a positive outlook on its future prospects and a commitment to boosting shareholder value.
