ARRIS International plc (NASDAQ:ARRS) and Broadcom Limited jointly announced that they have entered into an agreement for ARRIS to acquire Brocade Communication Systems Inc.’s Ruckus Wireless and ICX Switch business for cash consideration of $800 million, plus the additional cost of unvested employee stock awards, following the closing of Broadcom’s acquisition of Brocade. ARRIS expects the acquisition to be accretive to its Non-GAAP earnings per share in the first 12 months. This portfolio will expand ARRIS’s leadership in converged wired and wireless networking technologies beyond the home into the education, public venue, enterprise, hospitality, and MDU segments. ARRIS plans to establish a dedicated business unit within the company focused on innovative wireless networking and wired switching technology to address evolving and emerging needs across a number of vertical markets. The business unit will be led by current Ruckus COO, Dan Rabinovitsj. The closing of the transaction is subject to regulatory approvals in various jurisdictions and other customary closing conditions but does not require shareholder approval by either company, is not subject to any financing conditions, and is presently expected to close approximately one month following the closing of Broadcom’s acquisition of Brocade.
On Wednesday ARRIS International plc (NASDAQ:ARRS) share price closed at $30.70. Company net profit margin stands at -0.70% whereas its return on equity (ROE) is -1.50%. ARRIS International plc (NASDAQ:ARRS) is -2.60% away from its 52 week high.
Chesapeake Energy Corporation (NYSE:CHK) announced additional details of its 2017 guidance outlook. Chesapeake is budgeting planned total capital expenditures (including capitalized interest) in the range of $1.9 – $2.5 billion in 2017, compared to total capital expenditures of approximately $1.65 – $1.75 billion in 2016, excluding 2016 proved property acquisitions and the repurchase of volumetric production payment (VPP) transactions. The company is narrowing its range of projected capital as it gains confidence in market conditions supporting a return to projected production growth in the second half of the year. The company is targeting total production of 194 – 205 million barrels of oil equivalent (mmboe) in 2017, or average daily production of 532 – 562 thousand barrels of oil equivalent (mboe), representing a decline of 3% to modest growth of 2% compared to 2016, after adjusting for asset sales. Of the 2017 projected total production, approximately 33 – 35 mmboe is estimated to be crude oil, 18 – 20 mmboe is estimated to be natural gas liquids and 860 – 900 billion cubic feet is estimated to be natural gas. Chesapeake plans to operate an average of approximately 17 rigs in 2017, an increase from an average of 10 rigs in 2016. The company intends to spud and place on production approximately 400 and 450 gross operated wells in 2017, respectively, compared to 213 and 428 wells in 2016, respectively. A complete summary of the company’s guidance for 2017 is attached to this release.
Chesapeake Energy Corporation (NYSE:CHK) traded 45.21 Million shares and its share price moved down -2.63% to close at $5.92. Company has 1.00% insider ownership. Chesapeake Energy Corporation (NYSE:CHK) quarterly performance is -0.34% while its year to date (YTD) performance is -15.67%.
On Wednesday shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) ended up at $2.24. This year Company’s Earnings per Share (EPS) growth is -299.00% and next year’s EPS growth is 233.30%. Beta of Abraxas Petroleum Corporation (NASDAQ:AXAS) is 1.38 while company weekly performance is -6.67%.
Dunkin’ Brands Group, Inc. (NASDAQ:DNKN) moved down -0.53% to close at $54.64 on 22 February. Its return on assets (ROA) is 6.20% while return on investment (ROI) is 13.10%. Dunkin’ Brands Group, Inc. (NASDAQ:DNKN) price to sales (P/S) ratio is 6.04.