Marc Benioff, the CEO and co-founder of Salesforce, has won some temporary leeway in his battle with activist investors, as the tech company just reported beating Wall Street estimates and offered surprisingly strong full-year profit guidance.

The report also included a new $20 billion stock buy-back plan, and revealed it had disbanded its mergers and acquisitions committee, in a move designed to assuage concerns of investors over the need to tighten spending;

Shares of the company rose 16% in after-hours trading, as Yahoo Finance reported its ticker page flew up the most visited list on its platform.

In an interview with Yahoo Finance CEO Benioff said, “We have hit the hyper-space button,” referring to how fast the company was moving to streamline operations and address investor concerns.

The sudden flood of positive news stood in contrast to the recent spate of stories regarding executive departures, and activist investor battles.

As co-CEO Bret Taylor and Slack founder Stewart Butterfield have both left the company and moved on, the company has been faced with five activist investors clamoring to tighten spending, increase profits, halt acquisitions, and develop a more secure plan for leadership succession.

Analysts have called the battle with the five activist money managers, Elliott Management, Starboard Value, Inclusive Capital, ValueAct, and Third Point, unprecedented in its scope.

According to sources familiar with its thinking, Elliott plans to nominate several individuals to Salesforce’s board as it seeks further expense cuts.

In a statement, Elliot said, “Salesforce’s set of announcements today represents progress towards regaining investor trust. The acceleration of margin targets, commitment to responsible capital-return priorities, creation of a business transformation committee and disbanding of the M&A committee are necessary steps forward. These steps are consistent with our recommendations, and we believe they will help restore value at Salesforce.”

However it is still unclear to what degree the activist slate of investors will be satisficed by this latest report.

Benioff made no mention in regards to the status of the company’s relationship to its activist shareholders. Elliot’s management has indicated it expects to see more done in the future.

Benioff conceded that large acquisitions will likely not be happening in the foreseeable future.