Streetbeat News

Corporate Responsibility

LANC

Lancaster Colony has announced the appointment of Alan F. Harris as the Chairman of the Board, effective January 1, 2024. The current Chairman, John B. Gerlach, will continue to serve as a member of the board.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:01 pm

ALTM

LTHM

Livent Corporation (NYSE:LTHM) and Allkem Limited (ASX, TSX:AKE) have received all necessary shareholder approvals to complete their previously announced merger of equals. The merger is expected to close on January 4, 2024, and the combined entity will operate under the name Arcadium Lithium plc and trade on the NYSE under the ticker 'ALTM'. The merger is seen as a transformational move that aims to create greater long-term, sustainable value for stakeholders.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 8:58 pm

CRM

Slack, a business communication platform, is experiencing significant leadership changes as three executives, including the Chief Operating Officer (COO), are departing from the company. This development follows after the acquisition of Slack by Salesforce (CRM). The departure of key executives could signal internal shifts or strategic realignments within Slack, which is now a part of Salesforce's suite of services.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 8:28 pm

CMPS

The debate on whether psychedelic treatments require psychotherapy is ongoing, with COMPASS Pathways' Dr. Guy Goodwin suggesting that the effects of psilocybin are primarily due to the drug itself, not psychotherapy. He argues for a neutral terminology and acknowledges the dose-response relationship of psilocybin. Meanwhile, Dr. Max Wolff of the MIND Foundation insists that psychotherapy is integral to effective psychedelic treatments, citing COMPASS' trial protocols that emphasize therapeutic processes and require therapists to be licensed healthcare practitioners. The discussion highlights differing views on the role of psychotherapy in psychedelic treatments within a clinical setting.

Portfolio Pulse from Lara Goldstein

December 19, 2023 | 7:44 pm

ATVI

DIS

MSFT

SONY

A data breach at Sony's Insomniac Games, orchestrated by the Rhysida ransomware group, leaked over 1TB of data including a deal with Marvel for exclusive X-Men game rights until 2035. The breach revealed Sony's concerns over Microsoft's acquisition of Activision Blizzard and its impact on the gaming industry, including the 'Call of Duty' franchise's future on PlayStation. Sony criticized the free game model as unsustainable and expressed the need to update its gaming strategy.

Portfolio Pulse from Franca Quarneti

December 19, 2023 | 6:08 pm

GIS

General Mills, Inc. (NYSE:GIS) is expected to report Q2 fiscal 2024 earnings of $1.16 per share, up from $1.1 the previous year, with revenue estimates at $5.36 billion. The company has made leadership changes, appointing Jon Nudi as Group President, Pet and International. GIS shares rose 1.7% to $66.34 recently. Analysts have adjusted their price targets: Piper Sandler to $76, Evercore ISI Group to $72, Mizuho to $70, Morgan Stanley to $58, and TD Cowen initiated coverage with a target of $70.

Portfolio Pulse from Avi Kapoor

December 19, 2023 | 6:03 pm

AAPL

MASI

On Bloomberg TV, Masimo Corp's CEO Joe Kiani stated that Apple cannot resolve a particular issue merely with a software update.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:42 pm

LYB

TTE

TotalEnergies SE (TTE) has signed a second contract with LyondellBasell Industries NV (LYB) to supply 275 MWac of green electricity from its solar farms in Texas. The 15-year CPPA will enable LYB to offtake 125 MWac from TTE's Brazoria Solar farm, with operations starting by the end of 2025. Additionally, a 12-year CPPA signed in 2022 involves LYB offtaking 150 MWac from TTE's Cottonwood Bayou Solar plant. TTE also announced the end of routine flaring in Nigeria and a methane detection initiative with Nigerian National Petroleum Company Limited. TTE's shares saw a slight increase of 0.30% to $67.94.

Portfolio Pulse from Lekha Gupta

December 19, 2023 | 5:31 pm

UBER

Uber for Business has integrated with Brex and Ramp to automate receipt matching for Uber rides and meals, streamlining expense management for companies. This integration simplifies the reimbursement process, enforces policy compliance, and provides real-time visibility into corporate spend. Over 200,000 companies using Uber for Business will benefit from time savings, improved compliance, effective cost controls, and seamless reconciliation. The integration is easy to set up for overlapping customers and supports both employees and finance teams.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:16 pm

MULN

Mullen Automotive CEO David Michery addressed shareholders in an open letter regarding the recent reverse stock split. The split was approved at a shareholders meeting on Dec. 18, 2023, as a measure to comply with Nasdaq's minimum bid price requirement and avoid delisting. Michery acknowledged the difficulty of the decision, given past dilutive splits, and the need to raise capital in 2024. He emphasized the importance of remaining on a major exchange for financing and long-term value creation, despite some shareholders' opposition to the reverse split.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:05 pm