Streetbeat News

Corporate Responsibility

CDP

COPT Defense Properties (NYSE:CDP) announced Robert L. Denton, Sr. as the new Chairman of the Board, effective January 1, 2024. Thomas F. Brady resigned as Chairman but will remain on the Board. Denton has been an Independent Trustee since 1999 and has extensive experience in real estate and finance. Brady has served as Chairman since May 2013 and has been on the Board since 2002. The leadership change is part of the company's ongoing evolution as a specialized REIT serving the U.S. Government and defense contractors.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:23 pm

DZSI

DZS (NASDAQ:DZSI) has announced securing $25 million in funding and the divestiture of its Asia business to DASAN Networks Inc. (DNI) for $48 million. The deal includes $5 million in cash and the elimination of about $43 million of debt. The divestiture will allow DZS to focus on the Americas, EMEA, and ANZ regions, aligning with its strategic investments in technology and acquisitions. The additional working capital is expected to support DZS's growth, with government stimulus funds deployment beginning in 2024. The company anticipates improved gross margins by the end of 2024 and is hosting a conference call on January 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:17 pm

TWST

Twist Bioscience has announced the appointment of Adam Laponis as its new Chief Financial Officer. This strategic move could signal a strengthening of the company's financial leadership, potentially impacting investor confidence and future financial planning.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:13 pm

CMPX

Compass Therapeutics, Inc. (CMPX) provided a corporate update, detailing progress in their clinical trials for various cancer treatments. The company expects to report top-line data from the COMPANION-002 and COMPANION-003 studies in the second half of 2024 and mid-year 2024, respectively. CTX-471 showed promising results, with one patient achieving a complete response. The company also plans to dose the first patient with CTX-8371 in Q1 2024. Leadership changes include Vered Bisker-Leib becoming CEO and Thomas Schuetz transitioning to President of R&D. Compass ended 2023 with $152 million in cash, expected to last until mid-2026.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:11 pm

NFLX

Netflix Inc. (NASDAQ:NFLX) is exploring ways to monetize its gaming division, considering options such as in-app purchases, charging for premium games, and extending gaming access to ad-tier subscribers. This marks a strategic shift from its previous stance of offering games without monetization to focus on the gaming experience. Despite concerns from some executives and investors about resource allocation, Netflix's gaming has seen growth, with a significant increase in game downloads and plans to enhance its gaming budget for higher quality games.

Portfolio Pulse from Benzinga Neuro

January 05, 2024 | 1:11 pm

ALC

LFCR

Lifecore Biomedical has updated its commercial agreements with Alcon, extending and expanding their long-term relationship in hyaluronic acid and CDMO services. The new arrangements span 8 years and include an amendment and waiver for Lifecore's term debt facility with Alcon and BMO.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:07 pm

BOXL

Boxlight Corporation has announced the departure of Michael Pope as CEO. Dale Strang, an independent director, has been appointed as Interim CEO. Additionally, Wayne Jackson has been appointed as the new Chairman of the Board.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 12:19 pm

META

Instagram's head, Adam Mosseri, has acknowledged a trend where teenagers use private Instagram accounts to plan parties, hinting at the event's date in the bio. These 'party accounts' are set to private and share the party's address shortly before it starts. This trend, which began in Los Angeles, has spread nationwide. The practice is also occurring on WhatsApp, another app owned by Meta Platforms Inc. (NASDAQ:META). Users see this as a potential area for Instagram to develop an official feature for event coordination, which could benefit individuals and businesses.

Portfolio Pulse from Rounak Jain

January 05, 2024 | 11:55 am

PHVS

Pharvaris has provided a business update and outlined its strategic priorities for 2024. The company plans to initiate the RAPIDe-3 Phase 3 study of Deucrictibant, a treatment for on-demand hereditary angioedema, within the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 11:54 am

RTX

RTX Corp (NYSE:RTX) has appointed Phil Jasper as the President of its Raytheon subsidiary. Jasper, succeeding Wesley D. Kremer who will retire at the end of Q1 2024, will report to RTX's President and COO Christopher T. Calio. Jasper previously led Collins Aerospace's Mission Systems and has been instrumental in integrating RTX's connected battlespace solutions. Additionally, Troy Brunk, Heather Robertson, and Nathan Boelkins have been named to leadership roles within Collins Aerospace. RTX shares closed slightly lower at $85.41.

Portfolio Pulse from Shivani Kumaresan

January 05, 2024 | 11:36 am