Streetbeat News

Corporate Responsibility

SURG

SurgePays, Inc. has announced the appointment of Jeremy Gies as its new President. Gies brings a wealth of experience to the role, which is expected to strengthen the company's leadership team and contribute to its strategic initiatives.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 9:02 pm

CNC

KR

Kroger Health, part of The Kroger Co. (KR), will remain in Centene Corporation's (CNC) pharmacy network in 2024, ensuring access for about 700,000 Centene members to Kroger pharmacies. This agreement highlights Kroger Health's commitment to providing high-quality healthcare and maintaining continuity of care for patients. Despite not being in Express Scripts' network for 2024, Kroger will continue to serve Centene's Medicaid, Medicare, and health insurance marketplace plan members.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 8:12 pm

BA

Boeing has expressed support for the FAA's announcement, emphasizing its commitment to actions that enhance quality and safety. The company is actively implementing measures across its production system to meet these objectives.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 7:17 pm

UNP

Union Pacific has announced that customers with shipments moving through states affected by operational disruptions should expect delays until the company can restore operations.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 7:11 pm

C

Citigroup CEO Jane Fraser has announced that the bank will reveal further details of its restructuring plans in the week of January 22, according to a memo. This announcement indicates ongoing efforts to streamline operations and improve the bank's efficiency and profitability.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 6:44 pm

META

Instagram, owned by Meta Platforms Inc., has cut 60 technical program manager positions, eliminating a management layer. Impacted employees have two months to find new roles within the company before termination. The cuts align with Meta's 'Year of Efficiency' initiative to improve financial performance and reduce headcount. Instagram is reorganizing product teams around three new focus areas: Creation, Creators, and Friend Sharing, targeting teen engagement. This comes amid a lawsuit from over 40 states accusing Meta of affecting youth mental health and a Senate hearing on child safety. Meta is also implementing content restrictions for teen users on Instagram and Facebook.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 6:35 pm

C

Citi CEO anticipates a pickup in investment banking activity in 2024, with the current investment banking pipeline surpassing pre-Covid levels, as mentioned during a conference call.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 6:27 pm

MCD

SBUX

McDonald's Corp (MCD) stock experienced a Golden Cross on Jan. 11, indicating bullish sentiment. The stock is up 20% since Oct. 12, 2023, and 9% over the past year, currently trading around $292-$295. Analysts have set price targets ranging from $317 to $340, with a consensus at $305.37 and a Buy rating. McDonald's is expanding its strategy with the beverage-centric CosMc, aiming to compete with Starbucks (SBUX) and planning to reach 50,000 restaurants by 2027.

Portfolio Pulse from Surbhi Jain

January 12, 2024 | 6:20 pm

MNTS

Momentus Inc. (NASDAQ:MNTS) shares dropped after the company was not selected for the Tranche 2 Tracking Layer funding by the Space Development Agency. The company expressed substantial doubt about its ability to continue as a going concern, following a 20% reduction in workforce and a significant decrease in cash from $62 million to $10 million year-over-year. Despite discussions with potential strategic partners, no definitive agreements have been reached. Momentus is seeking capital to bridge to profitable commercial production, without which operations may be further reduced or stopped. MNTS shares fell 18.43% to $1.01.

Portfolio Pulse from Nabaparna Bhattacharya

January 12, 2024 | 5:53 pm

C

Citi's CFO expressed dissatisfaction with the bank's current performance and returns, indicating an expectation for a rebound in investment banking activity, as mentioned during a conference call.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 5:40 pm