Benzinga

Weekly Jobless Claims Unexpectedly Fall 20K To 201K

• Weekly Initial Jobless Claims were 201,000, a decrease of 20,000 from the previous week's revised level, according to data the Labor Department released on Thursday.
• The number is below the average economist estimates of 225,000 and lower than the previous week's revised level.
• The previous week's level was revised up by 1,000 from 220,000 to 221,000.

Cisco to Acquire Splunk, Stock Shoots Higher

• Cisco Systems Inc (NASDAQ:CSCO) agreed to acquire Splunk Inc (NASDAQ:SPLK) for $157 per share in cash, representing approximately $28 billion in equity value, triggering a rally in Splunk's stock prices. Meanwhile, Cisco stock prices fell.
• The purchase price implies a premium of 31.3% on Splunk's September 20 closing of $119.59.

Biden Administration Restarts Distribution Of Free At Home COVID-19 Tests, After Suspending For Year

• The Biden administration declared that it would recommence offering free at-home COVID tests to American households starting next Monday in response to the escalating spread of the virus nationwide.
• Last September, the federal government suspended its offer of free at-home COVID-19 tests.

Feeling The Brew! Starbucks Announces A Juicy Dividend Hike

• Starbucks Corp (NASDAQ:SBUX) said its Board of Directors approved a 7.5% increase in the company's quarterly cash dividend from $0.53 to $0.57 per share.
• This raises the company's annual dividend rate to $2.28 per share.

Keurig Dr Pepper Stirs Things Up: Picks Consumer Packaged Goods Veteran Tim Cofer As Next CEO

• Keurig Dr Pepper Inc (NASDAQ:KDP) has appointed Tim Cofer as Chief Operating Officer, effective Nov.6, 2023, reporting to Chairman & CEO Bob Gamgort.
• Cofer will assume the Chief Executive Officer role in the second quarter of 2024.

Kraft Heinz In Meltdown: 83,800 Cases Of Singles Recalled As Consumers Choke On Plastic Stuck To Cheese Slices

• The Kraft Heinz Company (NASDAQ:KHC) voluntarily recalled approximately 83,800 cases of individually wrapped Kraft Singles American processed cheese slices owing to the choking hazard of some of its wrappers.
• The said batch of Kraft Singles American processed cheese slices was shipped to a limited number of customers.

Reuters

Google's Power Move: Broadcom Ditched in Favor of Marvell Amid AI Chip Wars

Nio Races Past Tesla With $900 Smartphone Launch To Turbocharge EV Rivalry

Toshiba Confirms $14B JIP Takeover Success, Set To Go Private

Unilever Ropes In Morgan Stanley To Launch Bid For Sale Of Its Non-Core Beauty Brands

UBS Slashes 70% Of Credit Suisse's HK Research Staff Post-Integration

VinFast Aims To Ship EVs To Europe By 2023 End

CNBC

Breakthrough In Hollywood: Writers, Producers Close To Ending 100-Day Strike

Financial Times

Instacart and Arm's Stock Decline Sparks Concerns Over Tech Sector IPOs

Bloomberg

Transparency Concerns Arise as DOJ Limits Access to Key Google Antitrust Evidence

EV Competition: Kia Motors Launches Its Cheapest EV In South Korea

• Hyundai Motor Company (OTC:HYMTF) owned Kia Corp has launched its cheapest electric vehicle in South Korea, the Ray, which can seat only one person.
• The least expensive battery-powered light passenger vehicle of the company has a starting price of about $20,000.

Earnings

Homebuilder KB Home's Q3: Earnings Beat, 14% Topline Decline, Lower Average Selling Price & More

Darden Restaurants Q1: Earnings Beat, Affirmed FY24 Outlook, New Board Chair & More

FactSet Research Q4: Marginal Revenue Beat, Misses On Bottomline, Dull FY24 Outlook & More