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ALK

BA

UAL

United Airlines Holdings Inc (NASDAQ:UAL) has discovered loose bolts on several grounded Boeing 737 MAX 9 airplanes, raising concerns about Boeing Co's (NYSE:BA) manufacturing processes. The issue came to light after an incident with an Alaska Airlines (NYSE:ALK) MAX 9 plane, leading to the grounding of 171 aircraft. Boeing's shares fell by 8% following the news. The FAA has authorized inspections, and Boeing has expressed its commitment to safety and support for the ongoing investigation.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 12:50 am

ALK

BA

SPR

Boeing has committed to assisting airlines with all findings related to the 737 Max 9 door plug following required inspections. The company expressed regret for the impact on customers due to the inspection findings.

Portfolio Pulse from Charles Gross

January 08, 2024 | 11:48 pm

PETS

PetMed Express has announced the appointment of Leslie C. G. Campbell as the Chairman of the Board, effective January 5, 2024. Campbell has been a member of PetMeds' Board since 2018 and holds positions on several committees. Gian Fulgoni, the current Chairman, will remain on the Board.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 10:50 pm

URBN

Urban Outfitters, Inc. (NASDAQ:URBN) reported a 10% increase in net sales for the two months ended Dec. 31, 2023, and an 8% increase for the 11 months compared to the previous year. The Retail segment saw an 8% increase, with comparable sales up 6%. The company also opened 26 new retail locations. Shea Jensen is set to join as president of Urban Outfitters Brand, North America. Following the news, URBN shares rose 5.82% in after-hours trading.

Portfolio Pulse from Ryan Gustafson

January 08, 2024 | 10:23 pm

TNON

Tenon Medical has announced the second adjournment of its special meeting of stockholders, which is now scheduled for January 30, 2024. The reason for the adjournment or the agenda for the meeting has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 10:03 pm

JBLU

JetBlue has announced that its President & COO, Joanna Geraghty, will succeed Robin Hayes as CEO on February 12, 2024. This planned leadership transition is part of the company's long-term strategy.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 10:01 pm

ENVB

Enveric Biosciences announced a reduction in force (RIF) that will lead to the termination of seven positions, which is 50% of its workforce, as per a recent filing. The company anticipates incurring about $40,000 in costs related to severance and transition support, which will be recognized in Q1 2024. The RIF is expected to be substantially completed by February 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:46 pm

U

Unity Software has announced plans to cut approximately 1,800 jobs, which is about 25% of its workforce. This significant reduction is part of a restructuring effort to streamline operations and reduce costs.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:34 pm

MXL

MaxLinear announced a workforce reduction that will lead to an estimated $30M-$40M in restructuring costs in 2024. This move is likely part of a cost-cutting strategy to improve financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:31 pm

BLK

BlackRock Inc (NYSE:BLK) is planning to cut its workforce by 3%, affecting around 600 employees. The layoffs are part of the company's adjustments in response to market changes and its maturation phase. BlackRock is also revising its ESG investment strategies, moving away from the term 'ESG' in the U.S. due to political controversies, while still managing substantial sustainable investments internationally. CEO Larry Fink has indicated a shift in approach, with U.S. portfolio managers no longer required to consider ESG metrics in non-ESG funds.

Portfolio Pulse from Michael Cohen

January 08, 2024 | 9:27 pm