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REIT - Net Lease Office Properties Announces Sales of Two Office Properties for $35 Million and Declares Special Cash Distribution of $3.30 Per Share 📅 Payable on April 14, 2026 to shareholders of record as of the close of business on March 30, 2026 $NLOP

@garyHeff It was interesting to see that the deal closed despite so many states objecting to it and filing a lawsuit to block it just a day ago.

Tegna: a fun case study on why not to judge stocks by market price / spread alone. Yesterday closed @ $20, $2 (10%) below Nexstar acq. price. On price alone you might conclude the deal was stalled. The deal closed last night!

The acquisition of TEGNA $TGNA by Nexstar Media $NXST was completed on March 19, 2026. It took 212 days for the deal to be completed. Nexstar said that it has closed its acquisition of TEGNA following approval of the transaction from the Federal Communications Commission (FCC) and the United States Department of Justice (DOJ). The deal has closed despite the lawsuit filed by multiple states to block the deal and another federal antitrust lawsuit filed by DIRECTV.

🔖 Scholastic Corporation surging ( ⏫10.4% after hours) following Q3 FY26 results and a major capital return announcement 🔢 Results: 📕 Revenue of $329.1M, down ~2% YoY, a slight miss vs. consensus of $331.5M 📗 EPS was -$0.15, a significant beat against estimates of -$0.60 📗 Free cash flow was $407M in the quarter, boosted by over $400M in net sale-leaseback proceeds 📗 The company swung from net debt of $136.6M at end of FY25 to net cash of $90.6M. FY26 guidance reaffirmed: adjusted EBITDA of $146-$156M 📗 Children's Book Group continues to perform well, with higher Book Fair counts and revenue per fair along with strong franchise momentum 🔄 Capital return: The Board authorized a $300M total share repurchase program, representing approximately 34% of Scholastic's current market cap. Of that, $200M will be deployed through a Modified Dutch Auction Tender Offer at $36-$40 per share, expected to commence March 23 and expire April 20. If fully subscribed, the tender alone would retire roughly 25% of shares outstanding 📚 The company also established a long-term net leverage target of 2.0-2.5x adjusted EBITDA, signaling a disciplined approach to balance sheet management alongside shareholder returns 🟢Buyback History: Scholastic has been a buyback cannibal having repurchased over 27% of its outstanding shares over the last four years! 🟢Management continues to demonstrate strong execution on capital returns, and this latest $300M authorization is a significant escalation insidearbitrage.com/symbol-metrics… $SCHL

Two Harbors $TWO Receives Unsolicited Buyout Offer - Two Harbors' Board received an unsolicited all-cash acquisition proposal at $10.70/share, along with an offer to pay the $25.4 million termination fee tied to its pending deal with UWM Holdings $UWMC. An ad hoc Board committee determined that the proposal could reasonably lead to a “Company Superior Proposal”, though it has not yet concluded whether it is superior to the existing UWM deal. UWM will have a 3-business-day window to negotiate and potentially revise its offer if this unsolicited offer is deemed superior. On March 16, 2026, Two adjourned its special shareholder meeting to vote on the UWM merger to March 24, 2026, to allow more time for proxy solicitation and voting.

California Attorney General Bonta Files Lawsuit Seeking to Block Nexstar $NXST/ Tegna $TGNA Merger - 📺The deal would create the largest broadcast station group in the United States, putting more broadcast programming in the hands of fewer people, cutting local jobs. 📺The deal is also expected to raise prices and harm consumers. 📺In filing this lawsuit, @AGRobBonta joins the attorneys general of New York, Colorado, Illinois, Oregon, North Carolina, Connecticut, and Virginia. 📺In California, the combined entity would own half of the Big Four (FOX, NBC, ABC, and CBS) network-affiliated stations, including the local FOX and ABC stations in the Sacramento-Stockton-Modesto area and the local FOX and CBS stations in the San Diego area.

Exclusive: Paramount Skydance's proposed acquisition of Warner Bros Discovery will ‘absolutely not’ have a fast track to approval because of political factors, the head of the US Department of Justice's antitrust division told Reuters in an interview reut.rs/41biFxN

Elliott has built a significant stake in Align, the maker of Invisalign teeth-straightening products, sources say bloomberg.com/news/articles/…

Banks led by Bank of America are weighing a potential investment-grade bond offering to help fund Nexstar's pending acquisition of rival TV-station owner Tegna — a move that would reduce the deal’s borrowing costs. bloomberg.com/news/articles/…

$DD DuPont plans to seek shareholder approval to amend its Certificate of Incorporation to enable a reverse stock split (1-for-2 to 1-for-4). The move could shrink the share count by up to 75%, with the final ratio decided by the board. Approval will be sought at the May 21 annual meeting, with flexibility to delay or abandon if needed. Notably, since 2015, DuPont has pursued multiple value-unlocking actions (merger, four spinoffs, prior 1-for-3 reverse split), yet total returns have lagged the S&P 500.

$ARX Accelerant has appointed Linda S. Huber as Chief Financial Officer, effective March 31, 2026, replacing Jay Green, who is stepping down from the role. 💼Linda Huber brings significant experience, having previously served as CFO of FactSet, MSCI, and Moody’s. Ex–Board member at Bank of Montreal (Audit & Risk committees) 💰 Compensation Snapshot Base salary: $650K 2026 bonus: $1.05M (guaranteed) RSU grant: $2.5M (multi-year vesting) Annual equity target: $2.0M (50% RSUs / 50% PSUs) Separately, board member Michael Searles has resigned, even though his term was set to run until May 2026.

📱 Social entertainment platform - Hello Group announced a special dividend + buyback update, highlighting continued capital returns. 📅 The company declared a special dividend of $0.28 per ADS (~$42.6M total), payable April 30, 2026 to shareholders of record on April 10. The payout will be funded from cash on the balance sheet. 🔄 Buyback update: Since launching its repurchase program in June 2022, the company has bought back 60.3 million ADSs for $378.9M at an average price of $6.26/ADS. $107.2M remains under the current authorization 🟢 What stands out here is execution. Hello Group has reduced its shares outstanding by roughly 20% over the last three years! $MOMO

🔉 Logitech approved a new $1.4B share repurchase program over the next three years, reinforcing its multi-year capital return framework ➕Combined with the $600M authorization from March 2025, the company is now firmly on track to deliver ~$2B in buybacks over a three-year period, a target first outlined at its 2025 Investor Day. 📅 The new program is expected to begin in May 2026, following regulatory approval and completion of the current program 🟢 Positives: Logitech maintains a strong balance sheet with a net cash position of $1.7B and consistent cash generation, giving credibility to the scale of the buyback 🔄Consistent buyback execution : Logitech has reduced its share count meaningfully in recent years, with shares outstanding declining steadily ( ~12+% over the last 4 years) and cumulative repurchases totaling ~$1.8B+ over the past three years insidearbitrage.com/symbol-metrics… $LOGI

$DLO surging after hours ( ⏫9.26%) on a blowout Q4 and a new $300M buyback authorization, representing ~9% of its current market cap Q4 highlights: ▪️TPV hit an all-time high of $13.1B (+70% YoY), the fifth straight quarter above 50% growth. ▪️Revenue +65% YoY to $338M. Net income +87% YoY. ▪️Adjusted EBITDA +38% YoY at 68% of gross profit ▪️Free cash flow conversion of 117% of net income Full year 2025: 🔹DLocal crossed the $1 billion revenue milestone for the first time. 🔹Record TPV of $41B (+60% YoY) 🔹 Net income +63% YoY to $197M. 🔹Adjusted EBITDA margin expanded 500bps even in an investment year. 🔹Adjusted free cash flow surged 110% YoY to $191M with a 97% conversion ratio insidearbitrage.com/symbol-metrics… /?s1=tw&c=ia

DocuSign (+1.54%) beats Q4 estimates, issues solid guidance and boosts share repurchases by $2 billion Result Highlights: ✴️Revenue of at $836.9M (+8% YoY), ahead of expectations, while EPS of $1.01 also beat consensus. ✴️Billings crossed $1B for the first time (+10% YoY) and full year free cash flow exceeded $1B, supported by strong operating leverage. ✴️The company continues to transition toward its Intelligent Agreement Management (IAM) platform, which is gaining traction as a higher value upsell motion across its base. IAM customers now represent $350M+ in ARR. Capital Allocation 🔁DocuSign added $2B to its share repurchase program, representing roughly 21% of its ~$9.5B market cap. This brings total remaining authorization to ~$2.6B 🔁Repurchases totaled $869M in FY26, up from $684M last year, signaling a clear shift toward more aggressive capital returns. Valuation The stock is down sharply (~49% over the past year), and at current levels trades around ~34x forward earnings and ~8x forward EV/EBITDA, with a net cash balance sheet. Way too expensive compared to $ADBE trading at 13.79x forward P/E with a better revenue growth of 11% Vs 8% for $DOCU 🔴 DocuSign already serves ~95% of the Fortune 500, limiting new logo growth at the high end. Future growth increasingly depends on expansion within the installed base via IAM, which is a more execution intensive motion versus traditional land-and-expand. Relative to $ADBE Adobe, which competes via Adobe Sign but benefits from a far broader product suite, DocuSign remains a more concentrated, pure play. That creates a wider range of outcomes: greater upside if IAM adoption accelerates, but also higher risk if growth stalls in an already penetrated core market Net: strong cash generation + aggressive buybacks are supporting the equity story, but the path to re-rating still hinges on whether IAM can reaccelerate growth beyond the current ~8% trajectory insidearbitrage.com/symbol-metrics… $DOCU

Jana Partners Pushes Six Flags $FUN to Explore Sale, Replace Board Chair - Reuters Jana cites concerns about the board’s ability to “deliver” for shareholders ​and calls on the company to engage with buyers. “It is now in the best interest of shareholders for the company to ​reverse course and engage with known buyer interest in Six Flags,” Jana Managing Partner Scott Ostfeld wrote. The firm also wrote that board leadership changes are needed, and the company should appoint a new chair. The call for change comes just months after Six Flags hired a new chief executive and less than a week after appointing NFL star Travis Kelce as a brand ambassador.

Qualcomm raises its quarterly cash dividend and announces a new $20B stock repurchase authorization, effective immediately. This is on top of the existing $15B program from Nov 2024, which still has ~$2.1B remaining, bringing total buyback capacity to ~$22.1B $QCOM

Victory Capital $VCTR submitted an improved offer to acquire Janus Henderson $JHG - Under the revised proposal, Janus Henderson shareholders would receive $40 per share in cash and a fixed exchange ratio of 0.25 shares of Victory Capital common stock for each Janus Henderson share owned.

LENSAR $LNSR Terminates Merger Agreement with Alcon $ALC - 👁️LENSAR said that the U.S. Federal Trade Commission plans to try to stop the merger from happening. 👁️The companies agreed to end the merger since U.S. regulatory approvals are unlikely to be received before the outside date. 👁️The company will keep the $10 million deposit mentioned in the merger agreement. "We are disappointed with this outcome and the FTC’s intention to challenge the proposed transaction," said Nick Curtis, CEO of LENSAR.

✴️PTC has completed the divestiture of its Kepware and ThingWorx businesses, sharpening its focus on the Intelligent Product Lifecycle vision ✴️The company is updating post-divestiture financial guidance for FY’26 and Q2’26 ✴️It is deploying net after-tax proceeds for share repurchases and intends to enter into a $375 million (2% of market cap) accelerated share repurchase agreement in Q2’26, with final settlement expected in Q3’26 $PTC