Streetbeat News

Corporate Responsibility

XRX

Xerox Holdings Corporation (NASDAQ:XRX) shares fell after announcing a 15% workforce reduction as part of its new operating model and organizational structure, aiming to advance its Reinvention. The Reinvention focuses on three key areas: Core Print Business, Global Business Services, and IT and Digital Services. The executive team has been realigned to support strategic execution. The stock drop was exacerbated by rising Treasury yields impacting the tech sector.

Portfolio Pulse from Ryan Gustafson

January 03, 2024 | 9:14 pm

COLD

Americold Realty Trust announced that CFO Marc Smernoff will depart on January 12. Jay Wells will replace him as CFO effective January 15. The transition in the financial leadership may impact investor confidence and the company's strategic direction.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:10 pm

INTC

Intel has appointed Justin Hotard as Executive Vice President and General Manager of its Data Center and AI Group, starting February 1. Hotard will join the executive leadership team and report to CEO Pat Gelsinger, overseeing products such as Intel Xeon processors, GPUs, and accelerators.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:09 pm

FHTX

Allan Reine, CFO of Foghorn Therapeutics, is set to leave the company to pursue another opportunity. This executive change may raise concerns among investors regarding the company's financial leadership stability.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:05 pm

TWOU

2U, Inc. has announced a new organizational structure, creating two executive roles to lead its business segments. Andrew Hermalyn has been appointed as President of the Degree Program Segment, while Aaron McCullough has been appointed as President of the Alternative Credential Segment.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:03 pm

TRMB

Trimble (TRMB) has completed the sale of its remote water monitoring hardware and software, including the Telog brand and Trimble Unity Remote Monitoring software, to Badger Meter, Inc. The divestiture aligns with Trimble's strategy to focus on core growth areas and its strategic product roadmap. The financial terms of the deal were not disclosed. Trimble will retain its water-related businesses in marine construction, infrastructure monitoring, and surveying. Badger Meter's CEO views the acquisition as a perfect fit for their strategic growth and enhancing their data and analytics offerings.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:02 pm

CLF

IE

TMC

ZEUS

Ivanhoe Electric (IE) announced that its Executive Chairman and CEO will participate in the Future Minerals Forum, showcasing its Typhoon system and supporting its JV with Ma'aden. Cleveland-Cliffs (CLF) is raising prices for its steel products, with hot-rolled steel starting at $1,150 per ton. Olympic Steel (ZEUS) promoted Zachary J. Siegal to President of Manufactured Metal Products. TMC The Metals Company (TMC) supports the 2024 National Defense Authorization Act, which could benefit its seafloor polymetallic nodules exploration for battery metals.

Portfolio Pulse from Austin DeNoce

January 03, 2024 | 8:23 pm

WAVS

Western Acquisition Ventures Corp (WAVS) has announced the resignation of Stephen Christoffersen as CEO and William Lischak as CFO, effective December 27, 2023, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 7:55 pm

TSLA

Tesla Inc (NASDAQ:TSLA) is set to continue its trend of producing American-made vehicles with the upcoming Cybertruck, which is expected to be one of the most American-made pickup trucks. The Cybertruck's Monroney sticker shows a high U.S. and Canadian parts content of 65%, with final assembly in Austin, Texas. The motor, gearbox/transmission, battery assembly, and on-board charger assembly are also carried out in the U.S. This commitment to domestic manufacturing could increase the Cybertruck's appeal to consumers who prioritize local industry support.

Portfolio Pulse from Benzinga EV Insights

January 03, 2024 | 7:51 pm

IBKR

Interactive Brokers Group, Inc. (NASDAQ:IBKR) shares have risen after a decline at the end of November, with a strong performance in December and into the new year. The company reported increased Daily Average Revenue Trades (DARTs) for December, up 13% year-over-year and 4% month-over-month. Additionally, Rich Repetto was appointed as an independent director effective Jan. 1. The stock's rise may also be attributed to positive investor sentiment in December. Interactive Brokers Group is expected to report Q4 earnings on Jan. 16, with an estimated EPS of $1.55 and expected revenue of $1.14 billion. At the time of publication, IBKR shares were up 2.70% at $86.83.

Portfolio Pulse from Ryan Gustafson

January 03, 2024 | 7:44 pm