Streetbeat News

Corporate Responsibility

SNBR

Blue Clay Capital, long-term shareholders of Sleep Number Corporation (NASDAQ:SNBR), have sent a letter to the company's board urging them to immediately elect three Stadium Capital board representatives. They cite poor management decisions, ineffective strategic decisions, and a lack of accountability as reasons for Sleep Number's 46% decline since 2015, compared to a 161% gain for Tempur-Pedic and 125% gain for the S&P 500. They also express concerns about misallocation of capital and resources, untimely stock repurchases, and excessive executive compensation.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:47 pm

QTNT

Clinical diagnostics company Quotient is rebranding to AliveDx. The company aims to bring urgency to their work as leaders in healthcare innovation. They are focused on developing innovative testing methods to reduce diagnosis time, particularly for autoimmune diseases. Their products, Alba and MosaiQ, have made significant contributions in transfusion and clinical diagnostics.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:30 pm

NRBO

Eurobo Pharmaceuticals has appointed Marshall H. Woodworth as the company's Acting CFO, Principal Financial Officer, and Principal Accounting Officer, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:18 pm

LFVN

LifeVantage Corporation's CEO, Steven R. Fife, has sent a letter to stockholders emphasizing the importance of retaining directors Garry Mauro, Michael A. Beindorff, and Darwin K. Lewis. Fife credits the board's decisive action for the company's success amidst industry changes and the COVID-19 pandemic. Since the announcement of the LV360 strategy in January 2023, LifeVantage has generated a total return of 133%. Fife warns that the removal of any of these directors would be a loss for the company and its stockholders.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:14 pm

MT

Arcelor Mittal's shares are trading lower following a fire incident in Kazakhstan that resulted in 42 fatalities.

Portfolio Pulse from Luke J Jacobi

October 30, 2023 | 11:53 am

DHX

DHI Group has appointed Raime Leeby as its new Chief Financial Officer (CFO).

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 11:10 am

ALV

Autoliv, Inc. (NYSE:ALV) plans to reduce its workforce in France by about 20% or 320 employees as part of its global headcount reduction initiative. The reductions will begin in 2024 and are expected to be fully implemented by the end of 2025. The company expects to save around $10 million in 2024, $20 million in 2025, and $25 million in 2026 from these actions. The related costs for the headcount reduction will be accrued this quarter but will not impact the company's adjusted operating margin for the fourth quarter or the full year 2023.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 10:49 am

TDCX

TDCX, a global provider of digital customer experience solutions, is expanding its European presence with a new office in Bucharest, Romania. This move is part of the company's strategy to strengthen its global footprint.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 5:46 am

MT

ArcelorMittal (NYSE:MT) confirmed a tragic accident at its Kostenco coal mine in Kazakhstan, resulting in 25 deaths and 21 missing workers. This follows a previous incident in August where four miners were killed. The company is also in the process of transferring the ownership of ArcelorMittal Temirtau to the Republic of Kazakhstan. MT shares closed lower by 0.14% to $22.14 on Friday.

Portfolio Pulse from Nabaparna Bhattacharya

October 28, 2023 | 5:17 pm

HTZ

Hertz Global Holdings Inc (NASDAQ:HTZ) CEO Stephen Scherr stated that the cost of collision and damage repair for electric vehicles (EVs), primarily Tesla's, has negatively impacted the company's EBITDA. The decline in the Manufacturer's Suggested Retail Price (MSRP) of EVs, driven by Tesla, has also lowered the fair market value of Hertz's EVs. Scherr added that Hertz is considering buying EVs from other manufacturers at a lower price point to reduce costs. Hertz reported an adjusted EPS of 70 cents for the last quarter, missing the consensus of $0.76.

Portfolio Pulse from Anan Ashraf

October 28, 2023 | 10:02 am