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As the Benzinga Cannabis Capital Conference returns to Chicago (Sept 27-28), gathering top CEOs, investors and leaders in the marijuana industry, let&#39;s scroll through some executive moves in the space.

Director Of MA Marijuana Regulator Resigns, MD Plans To Evaluate Pot&#39;s Health Effects And Recent Industry Moves

CPMD

High Profile Holdings Cannabis Corp., a wholly-owned subsidiary of New Leaf Ventures Inc. (OTCPK:NLVVF) (CSE:NLV) has executed a genetics transfer and buyback agreement with CannaPharmaRX Inc. (OTCPK:CPMD).

New Leaf Ventures Enters Into Genetics Supply Agreement With CannaPharmaRX

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New Leaf Ventures Inc. (OTCPK:NLVVF) (CSE:NLV) has completed the acquisition of High Profile Holdings Corp. by way of a statutory three-cornered amalgamation.

New Leaf Ventures Acquires High Profile, Bolsters Management Team With Two New Hires Including Xebra&#39;s CEO

NEW LEAF VENTURES A by New Leaf Ventures Inc.

New Leaf Ventures Inc

A new Benzinga reader poll shows a mixed opinion on whether users are headed for the exits of social media platforms in the months since the<a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election"> 2024 presidential election.</a>
While many users are staying on social media platforms, here's a look at which companies could be most impacted.
 What Happened: A recent email from X owner Elon Musk to his staff suggested the social media platform he paid $44 billion for might be <a href="https://www.benzinga.com/25/01/43204045/elon-musk-says-x-user-growth-is-stagnant-banks-who-financed-acquisition-selling-debt-at-10-discount">seeing slower growth</a> in the months since the 2024 election, which was won by Donald Trump. 
"Our user growth is stagnant, revenue is unimpressive, and we're barely breaking even," Musk said in the email.
The email comes months after Musk highlighted the record usage X saw during the presidential election.
"Over the last few months, we've witnessed the power of X in shaping the national conversations and outcomes. We are also seeing other platforms begin to adopt our commitment to free speech and unbiased truth," Musk also said in the email.
Benzinga recently asked readers if they were considering leaving social media platforms.
"Do you plan to stop using any of these social media platforms in the wake of the 2024 presidential election?" Benzinga asked.
Here are the results:
<ul>
<li>I don't plan to stop using any platforms: 53%</li>
<li>X (formerly Twitter): 18%</li>
<li>TikTok: 11%</li>
<li>Facebook: 8%</li>
<li>Instagram: 5%</li>
<li>Reddit: 3%</li>
<li>Snapchat: 2%</li>
</ul>
The poll found the majority wasen't leaving any of the mentioned social media platforms in the wake of the election won by Trump.
The company leading the platform votes was X, which could be in response to its ownership by Musk, a close ally of Trump. Musk has become more outspoken politically on the platform and there could be a belief that he will try to influence X users with his ideals.
Ranking second was TikTok, which faces <a href="https://www.benzinga.com/general/social-media/25/01/42957741/tiktok-ban-deadline-ahead-what-will-happen-to-app-on-your-phone">a pending ban</a> that Trump has paused with an executive order. Facebook and Instagram, which are owned by Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) ranked third and fourth, respectively, among social media platforms with a combined 13%. This could be bad news for the company as it could see an exodus of users in the coming months.
Reddit (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) and Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>)-owned Snapchat received a lower percentage of potential users leaving in the poll.
Read Also: <a href="https://www.benzinga.com/general/social-media/25/01/43149771/follow-biden-or-harris-on-instagram-facebook-chances-are-youre-now-following-trump-or-vance">Follow Biden Or Harris On Instagram, Facebook? Chances Are You&#8217;re Now Following Trump Or Vance</a>
Why It's Important: The poll saw the majority of users not exiting social media platforms could show that fears of users being influenced by politics and leaving platforms based on who owns them could be overblown.
There were reports that users on Facebook and Instagram could be leaving the platform after Meta's<a href="https://www.benzinga.com/25/01/42851889/meta-ditches-fact-checking-for-community-notes-zuckerberg-says-opportunity-to-restore-free-expression"> content moderation changes</a>. Searches for "delete Facebook" and "delete Instagram" have surged on Google in recent weeks, but the poll shows that users might not be ready to leave the platforms yet.
X leads the way for a potential trend of consumers <a href="https://www.benzinga.com/news/global/25/01/43172806/tesla-lost-15-billion-in-brand-value-in-2024-report-says-did-elon-musks-political-push-hurt-ev-giant">being less happy </a>with the brands associated with Musk as his political efforts ramp up.
Reports showed that users <a href="https://www.benzinga.com/general/social-media/24/12/42566461/mark-cuban-says-this-is-the-holy-grail-that-makes-bluesky-better-than-musks-x-platform">went to alternate platforms </a>like Bluesky after the election, but this poll could show that people never truly left or they didn&#8217;t stay on Bluesky.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/01/43176248/tiktok-ban-effect-smartphones-with-app-installed-hit-ebay">TikTok Ban Effect: Smartphones With App Installed Hit Ebay</a></li>
</ul>
The study was conducted by Benzinga from Jan. 25, 2025, through Jan. 27, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 150 adults.
Photo: Farknot Architect/Shutterstock.com

Social Media

Exclusives

RDDT

SNAP

EXCLUSIVE: Will Social Media Users Leave Over Politics? New Poll Shows This Platform Hurt Most

When Netflix announced it was <a href="https://www.benzinga.com/25/01/43131519/ellison-envisions-tailored-cancer-vaccines-in-48-hours-amid-trumps-500b-ai-push-netflix-surges-15-on-price-hike-after-record-subscriber-growth-dogecoin-drops-7-top-headlines-while-the-us-slept">raising prices</a> again this week, the internet had much to say. But one of the funniest and most talked-about responses came from AriZona Iced Tea. The company, famous for its 99-cent cans, tweeted to remind everyone that while Netflix keeps charging more, their price hasn't changed.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">AriZona Iced Tea is still 99 cents <a href="https://t.co/Ih9ZAkjtZU">https://t.co/Ih9ZAkjtZU</a>
&mdash; AriZona Iced Tea (@DrinkAriZona) <a href="https://twitter.com/DrinkAriZona/status/1882181201987035591?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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"AriZona Iced Tea is still 99 cents," the brand tweeted, earning over 14 million views. The playful dig at Netflix&#8217;s rising costs quickly went viral, with fans jumping into the conversation. One person joked, "Can you start a streaming service right now?" AriZona replied, "Yeah, I'm streaming some AriZona into my mouth right now." Someone else asked where they got their information, and AriZona simply said, "Me."
This funny back-and-forth highlights a real point: prices are going up everywhere, but AriZona is sticking to their 99-cent promise. They've kept the same price since 1992! Don Vultaggio, the founder of AriZona, says keeping the price low is important to him. "Why have people who are having a hard time paying their rent pay more for their drink?" he said. "Maybe it's my little way of giving back."
AriZona has managed to keep its price low through strategic decisions like thinner cans, optimized production and efficient shipping methods. "We make it faster. We ship it better. We ship it closer. The cans are thinner."
Trending: The Biggest Disruption To IP Since Disney — <a href="https://www.benzinga.com/money/elf-labs-1">Get in now as they monetize a $2 Trillion market by building content around the most profitable Character IP in history and combining it with the Patented Technology IP of the future.</a>
Unlike competitors who invest heavily in advertising, AriZona relies on word-of-mouth to grow its customer base. Despite inflation and rising costs over the years, the company remains debt-free and highly profitable, with Vultaggio's net worth surpassing $5.6 billion.
Meanwhile, <a href="https://www.benzinga.com/markets/equities/25/01/43119464/netflix-raises-prices-16-peter-schiff-warns-of-escalating-inflation-risks-ahead-of-trump-policies">Netflix's latest price increases –</a>$7.99 for its ad-supported plan (up $1), $17.99 for the standard plan without ads (up $2.5) and $24.99 for its premium plan (up $2) – arrived alongside strong earnings. The streaming giant added 19 million subscribers in the last quarter of 2024, bringing its global total to 302 million. The company says the extra money will go toward making more content, like the <a href="https://www.benzinga.com/general/sports/24/11/42022601/mike-tyson-vs-jake-paul-netflixs-explosive-boxing-event-ends-with-pauls-victory">Jake Paul vs. Mike Tyson boxing match</a> and new seasons of hits like <a href="https://www.benzinga.com/general/entertainment/24/12/42305013/squid-game-season-2-includes-new-games-contestant-with-a-crypto-background-revenge-factor-political-overtones">Squid Game</a>.
While Netflix continues to adjust its pricing strategy, AriZona's commitment to staying affordable has become a rare and refreshing constant. Judging by the overwhelming reaction to their tweet, it's clear that people appreciate their humor – and their prices. AriZona Iced Tea remains a steady, 99-cent bright spot in a world of <a href="https://www.benzinga.com/startups/24/11/42027079/we-will-pass-those-tariff-costs-back-to-the-consumer-says-ceo-of-autozone-heres-a-look-at-other-companies-raising-prices">ever-increasing costs</a>. Read Next:
<ul>
<li>According to Juniper Research, the total value of B2B cross-border payments stored on the blockchain is projected to exceed $4.4 trillion — <a href="https://www.benzinga.com/money/web3-enabler-future-of-enterprise-transactions">Join the first company to bring blockchain payments to Salesforce early with just $100.</a></li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
</ul>

AriZona Iced Tea Takes A Shot At Netflix For Raising Their Prices–'It's Still 99 Cents'

The fourth-quarter earnings season is in full swing, and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43054693/magnificent-7-earnings-hinge-on-ai-payoff-analyst-flags-top-risks">all eyes are on the Magnificent 7,</a> a group of tech giants that enjoy the market&#8217;s attention, thanks in part to the ongoing artificial intelligence boom and their dominance in this space.
These stocks are Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). <a href="https://www.benzinga.com/etfs">ETFs that focus</a> heavily on these stocks have also become attractive options for investors seeking diversified exposure ahead of their earnings results.
If you're looking to ride the earnings wave, here are three ETFs worth considering:
The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) was the first ETF offering equal-weight exposure to these seven stocks. It has an expense ratio of 0.29% and an AUM of $639.75 million. The ETF has grown 61% in the last year.
For a slightly broader yet targeted approach, the MicroSectors FANG+ ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNGS#NYSE">FNGS</a>) could be a good choice. The fund tracks the NYSE FANG+ Index and maintains a 10% share in each of the seven stocks. The expense ratio is 0.58%.
Meanwhile, the Vanguard Mega Cap Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGK#NYSE">MGK</a>) allocates around 59% of its assets to the Magnificent 7. The ETF has $21.60 billion in AUM and an expense ratio of 0.06%, making this a pocket-friendly option.
<h1 class="wp-block-heading">What's Next For The Magnificent 7?</h1>
As the earnings season progresses, the Magnificent 7 stocks are expected to report earnings growth of 18% in 2025, marking a slowdown, according to a December 2024 report by Bloomberg. 
Tesla, Microsoft and Meta Platforms will kick off earnings with reports scheduled after market close on Wednesday. Apple follows Thursday, while Alphabet and Amazon are set to announce results on Feb. 4 and Feb. 6, respectively. Nvidia is likely to release its earnings later in February.
<a href="https://www.benzinga.com/25/01/43232316/deepseek-jitters-shatter-us-tech-stocks-wipe-out-12-trillion-on-wall-street-analyst-eyes-four-chinese-giants-set-" target="_blank" rel="noreferrer noopener">Hangzhou, China-based AI startup</a> DeepSeek launched a new AI model that poses a challenge to U.S. competitors, including Nvidia&#8217;s core business. Industry experts like venture capitalist Marc Andreessen called this moment a "Sputnik moment" for U.S. AI companies as this could be a ground-breaker in the AI space, reported Reuters.
Nvidia shares rebounded Tuesday after analysts called the&nbsp;market&#8217;s reaction an &#8220;overreaction.&#8221; Analysts believe advancements like these could drive even more investment in AI, which can be beneficial for companies including Nvidia. Moreover, Nvidia has already said that DeepSeek's inference requires &#8220;significant numbers of Nvidia GPUs and high-performance networking."
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43283732/tech-rebounds-after-black-monday-nvidia-rallies-6-gm-plummets-whats-driving-marke">Tech Rebounds After Black Monday, Nvidia Rallies 6%, GM Plummets: What&#8217;s Driving Markets Tuesday?</a>
Tesla has faced mixed fortunes recently. The EV maker reclaimed its trillion-dollar market cap thanks to a favorable policy environment. Yet it hit a roadblock with its fourth-quarter delivery numbers. The company missed estimates and reported its first-ever year-over-year decline in full-year vehicle deliveries. 
Adding to the challenges, recent rollbacks of pro-EV policies weighed on Tesla's stock, which fell 2.5% year-to-date. Despite these shortfalls, Tesla's leadership in EV scale and technology gives it an edge, particularly in markets where tariffs might restrict cheaper imports from Chinese competitors.
Microsoft continues to shine as a key AI forerunner with substantial investments in data centers and AI development. The company expects $10 billion in AI-related revenues next quarter.
Meta looks promising, with analysts raising their price targets ahead of its earnings release. Wedbush and BofA Global Securities now peg Meta's stock at $700 and $710, respectively. The social media company expects to generate revenues of $45-$48 billion in the fourth quarter but also anticipates increased spending on AI and infrastructure projects. This might shrink the margins.
Despite rolling out new AI-driven applications late last year, Apple has struggled to gain momentum, particularly in international markets. Its latest iPhone 16 has seen muted sales. Jefferies recently downgraded Apple to Underperform. Looking ahead, Apple expects low to mid-single-digit sales growth in its fiscal first quarter.
Alphabet is currently staring at antitrust lawsuits and increasing competition in the generative AI space. Analysts remain concerned about the long-term impact of AI on Alphabet's core search business.
Amazon continues to dominate e-commerce and cloud computing, while its AI business is growing rapidly. The company's fourth-quarter revenues are projected to land between $181.5 billion and $188.5 billion. Amazon's investments in AI infrastructure, including data centers and custom chips, position it well for sustained growth in this sector.
See Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/upgrades/25/01/43284333/nvidia-positioned-for-400-billion-ai-boom-with-advanced-gpus-new-product-launches-drivin">Nvidia Positioned For $400 Billion AI Boom With Advanced GPUs, New Product Launches Driving Revenue Growth, Say Analysts</a></li>
</ul>
Photo: Shutterstock.

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Magnificent 7 Earnings Ahead: 3 ETFs To Ride The Wave

Chain Bridge Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBNA#NYSE">CBNA</a>) reported quarterly earnings of $0.59 per share which beat the analyst consensus estimate of $0.55 by 7.27 percent.

Earnings

Earnings Beats

CBNA

Chain Bridge Bancorp Q4 2024 GAAP EPS $0.59 Beats $0.55 Estimate

Paragon 28 has announced net revenue for the full year of 2024 to be in a range of $255.9 to $256.2 million, representing 18.2% to 18.4% reported growth over the prior fiscal year.&nbsp;
Zimmer Biomet expects the proposed transaction, considering the impact of financing, to be approximately 3% dilutive to adjusted earnings per share in 2025, about 1% dilutive to 2026 adjusted earnings per share and accretive to adjusted earnings per share within 24 months of deal close.
Zimmer Biomet plans to fund the proposed transaction through a combination of cash on the balance sheet and other available debt financing sources. Zimmer Biomet expects to maintain a strong balance sheet and to continue to support its stated capital allocation priorities.

Zimmer Biomet Expects Proposed Paragon 28 Transaction To Immediately Accelerate Revenue Growth And To Be Approximately 3% Dilutive To Adjusted EPS In 2025

Paragon 28 shareholders will also receive a non-tradeable contingent value right (CVR) entitling the holder to receive up to $1.00 per share in cash if certain revenue milestones are achieved.&nbsp;
The CVR will be payable in whole or in part if net sales exceed $346 million up to $361 million (with the CVR payments calculated linearly between $0.00 and $1.00 if net sales are between $346 million and $361 million) during Zimmer Biomet's fiscal year 2026.&nbsp;
The board of directors of each of Zimmer Biomet and Paragon 28 has unanimously approved the proposed transaction.
 &nbsp;

Zimmer Biomet To Acquire Paragon 28 For Upfront Payment Of $13.00 Per Share In Cash, Corresponding To An Equity Value Of $1.1B And Enterprise Value Of $1.2B

Jones Trading analyst Soumit Roy initiates coverage on OnKure Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKUR#NASDAQ">OKUR</a>) with a Buy rating and announces Price Target of $32.

Price Target

Initiation

Analyst Ratings

OKUR

Jones Trading Initiates Coverage On OnKure Therapeutics with Buy Rating, Announces Price Target of $32

Jefferies analyst Rob Dickerson maintains WK Kellogg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) with a Hold and lowers the price target from $19 to $16.

Jefferies Maintains Hold on WK Kellogg, Lowers Price Target to $16

The Food and Drug Administration on Tuesday approved Ozempic, the weight loss drug made by Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), for the treatment of chronic kidney disease in patients who also <a href="https://www.benzinga.com/25/01/42875977/novo-nordisk-seeks-to-strengthen-its-obesity-pipeline-with-back-to-back-two-biobuck-deals">have type 2 diabetes. </a>
The Details: According to the Centers for Disease Control and Prevention, more than 35.5 million Americans have chronic kidney disease, often as a complication of type 2 diabetes. The new FDA approval allows for further expansion of Ozempic's use and potential coverage by health insurance plans.&nbsp;
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43254018/sofi-stock-falls-on-soft-guidance-despite-strong-quarter-with-record-member-growth-loan-originations-analyst"> SoFi Stock Falls On Soft Guidance Despite &#8216;Strong Quarter&#8217; With Record Member Growth, Loan Originations: Analyst&nbsp;</a>
The FDA approval "allows us to more broadly address conditions within cardiovascular-kidney-metabolic syndrome, which affects millions of adults and could have serious consequences if left untreated," Anna Windle, a senior vice president at Novo Nordisk, said in a statement Tuesday, per a Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-28/novo-s-ozempic-notches-approval-for-kidney-disease-widening-use?sref=TBDibEcD">report</a>.&nbsp;
Ozempic and other diabetes drugs known as GLP-1s have become popular and also well-known for their high cost.&nbsp;
Earlier in January, Novo Nordisk's diabetes and weight loss drugs, Ozempic, Rybelsus, and Wegovy were all added to the U.S. Department of Health and Human Services list of drugs covered under Medicare Part D that<a href="https://www.benzinga.com/25/01/43062779/popular-ozempic-wegovy-selected-for-next-round-of-medicare-drug-price-negotiations"> have been selected</a> for mandated price negotiations in order to reduce <a href="https://www.benzinga.com/general/biotech/24/08/40534249/novo-nordisks-ozempic-might-be-among-2027-medicare-price-negotiation-targets">prescription drug costs</a>.
The negotiations will take place in 2025, with the new prices slated to take effect in 2027.
NVO Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Novo Nordisk shares ended Tuesday's session down 2.65% at $85.19.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/43287988/microsoft-q2-preview">Microsoft Q2 Earnings Preview: Street &#8216;Too Optimistic&#8217; On Near-Term AI Returns?&nbsp;</a></li>
</ul>
Photo: Shutterstock

Biotech

Health Care

Movers

Trading Ideas

Ozempic Receives FDA Approval To Treat Kidney Disease

Trading Halt: Halt status updated at 5:50:00 PM ET: Quotation Resumption: News and Resumption Times

Finward Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNWD#NASDAQ">FNWD</a>) reported quarterly earnings of $0.49 per share which beat the analyst consensus estimate of $0.20 by 145 percent. This is a 40 percent increase over earnings of $0.35 per share from the same period last year. The company reported quarterly sales of $16.34 million which beat the analyst consensus estimate of $16.00 million by 2.12 percent. This is a 5.75 percent increase over sales of $15.45 million the same period last year.

FNWD

Finward Bancorp Q4 2024 GAAP EPS $0.49 Beats $0.20 Estimate, Sales $16.34M Beat $16.00M Estimate

Compass Point analyst Giuliano Bologna upgrades Affirm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) from Sell to Neutral and raises the price target from $20 to $61.

Upgrades

AFRM

Compass Point Upgrades Affirm Holdings to Neutral, Raises Price Target to $61

The options include a possible sale of the company, business combination, sale of all or part of the Company's assets, licensing of assets, restructuring, or other strategic action.

23andMe Reveals Process To Explore Strategic Alternatives

Compass Point analyst Joe Flynn initiates coverage on Applied Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) with a Buy rating and announces Price Target of $10.

APLD

Compass Point Initiates Coverage On Applied Digital with Buy Rating, Announces Price Target of $10

Synaptics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYNA#NASDAQ">SYNA</a>) shares are rising in extended trading Tuesday after the company signed a <a href="https://www.benzinga.com/pressreleases/25/01/g43286953/synaptics-accelerates-edge-ai-strategy-with-new-broadcom-agreement">licensing agreement with Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)</a>.
What Happened: After the market close on Tuesday, Synaptics announced it&#8217;s accelerating its Edge <a href="http://benzinga.com/topic/ai">AI</a> strategy through a definitive licensing agreement with Broadcom.
The agreement includes Wi-Fi&nbsp;8, ultra-wideband (UWB), Wi-Fi 7, advanced Bluetooth and GPS/GNSS products and technology for IoT and the Android ecosystem.
&#8220;Our wireless technology and capabilities are cornerstones of our success in IoT markets,&#8221; said Michael Hurlston, president and CEO of Synaptics. 
&#8220;We are now developing this expertise to enable ecosystems with centralized control and seamless connectivity to a rapidly growing array of Edge AI devices. Our platform history, proven track record, and strategy uniquely position us to integrate Broadcom&#8217;s technology and fully deliver on the potential of IoT connectivity.&#8221;
Check This Out: <a href="https://www.benzinga.com/general/restaurants/25/01/43288533/starbucks-q1-earnings-revenue-beat-eps-beat-memberships-up-1-positive-response-to-turnaround-efforts">Starbucks Q1 Earnings: Revenue Beat, EPS Beat, Memberships Up 1%, &#8216;Positive Response&#8217; To Turnaround Efforts</a>
Synaptics said the deal is expected to add&nbsp;at least $40 million in annualized sales. The company also expects the transaction to be immediately accretive to adjusted earnings per share. 
The all-cash transaction is expected to close on Jan. 30. Financing details were not provided, but Synaptics said it will provide more information on the transaction when it reports <a href="https://www.benzinga.com/calendars/earnings">second-quarter earnings</a> on Feb. 6. 
Analysts currently expect Synaptics to report earnings of 86 cents per share and revenue of $265.14 million for the second quarter, according to <a href="http://pro.benzinga.com">Benzinga Pro</a> estimates.
SYNA Price Action: Synaptics shares were up 5.13% in after-hours, trading at $84.66 at the time of publication Tuesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
This illustration was generated using artificial intelligence via Midjourney.

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It is payable March 17, 2025, to shareholders of record at the close of business on March 3, 2025.

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