By Connor Hart

Walgreens struck a deal to be taken private by Sycamore Partners in one of the biggest leveraged buyouts in recent memory. Sycamore agreed to pay $11.45 a share in cash for Walgreens Boots Alliance, representing an equity value of around $10 billion. Shareholders could also receive up to an additional $3 a share down the road, based on proceeds from selling the company's primary-care assets. Shares rise 5.8%, to $11.21, in after-hours trading.

Broadcom logged a jump in revenue in its fiscal first quarter, driven by its artificial-intelligence semiconductor and infrastructure software units, and guided for further growth in the current quarter. The chip and software company posted net income of $5.5 billion, up from $1.33 billion a year earlier. Adjusted per-share earnings and revenue beat analyst expectations. For the current quarter, it expects revenue of around $14.9 billion, topping the $14.76 billion Wall Street projected. Shares jump 14%, to $204.61, in post-market trading.

Gap's sales were stronger than expected during its crucial holiday quarter. The apparel company posted a fourth-quarter profit of $206 million, up from $185 million last year. Quarterly revenue fell 3.5% to $4.15 billion, but came in ahead of Wall Street expectations for $4.07 billion, according to FactSet. Looking ahead, Gap said it projects first-quarter sales to be flat to up slightly and full-year sales to rise between 1% and 2%. Shares gain 16%, to $22.66, in after-hours trading.

Hewlett Packard Enterprise said it would cut about 2,500 jobs, or 5% of its global workforce, in a cost-reduction program that came as the company said it expects its fiscal 2025 profit to be dragged down in part by tariffs. The server and cloud-software company said the program is expected to deliver $350 million in savings by fiscal 2027. For its fiscal 2025, the company forecast revenue to grow between 7% to 11%, compared with analyst projections for sales to rise 7.9% year over year. Shares tumble 20%, to $14.38, in post-market trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

March 06, 2025 18:28 ET (23:28 GMT)

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