- CACI International Inc (NYSE:CACI) has entered into an accelerated share repurchase agreement (ASR).
- Under the ASR, the company will repurchase $250 million of common stock under its previously announced $750 million share repurchase authorization.
- This equates to approximately 845,000 shares at the closing price on Jan. 27, 2023, representing approximately 3.6% of CACI’s shares.
- The company anticipates that all repurchases under the ASR will be completed by the end of August 2023.
- CACI now expects the fiscal year 2023 interest expense to be $80 million – $85 million and the diluted weighted average share count to be about 23.5 million.
- Given the timing of the ASR in the fiscal year, the company reiterated its prior adjusted net income and adjusted EPS guidance.
- The company held $114.7 million in cash and equivalents as of Dec. 31, 2022.
- Price Action: CACI shares are trading higher by 2.11% at $301.33 on the last check Monday.
Pfizer’s Cost-Cutting Measures: 500 Job Cuts in Kent Facility, Higher Than Anticipated
Pfizer Inc (NYSE: PFE) is reportedly discontinuing its pharmaceutical sciences small molecule (PSSM) operations at Sandwich in Kent to streamline operations and enhance efficiency.
The decision will result in significant job cuts, with plans to eliminate 500 out of 940 positions.
