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HLIT

Harmonic Inc. has entered into a new five-year credit agreement, securing $160 million in committed credit. This financial move could provide the company with increased financial flexibility and support its growth strategies or potential acquisitions.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:20 pm

MPLX

MPLX LP has announced the appointment of Kristopher Hagedorn as the new Executive Vice President and CFO, effective January 1, 2024. He will be succeeding John Quaid.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:19 pm

NKE

Nike Inc plans to achieve up to $2B in cumulative cost savings over the next three years. The company is streamlining its organization, which will lead to pre-tax restructuring charges of approximately $400M-$450M.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:16 pm

FLGC

Clifford Starke and Flora Growth Corp (FLGC) have entered into a consulting agreement that allows Starke to continue serving as CEO. The agreement is for an indefinite period but can be terminated according to its terms, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:11 pm

RYAN

Ryan Specialty (NYSE:RYAN) has signed an agreement to acquire Castel Underwriting Agencies from Arch Financial Holdings (UK) Limited and minority shareholders. Castel, with offices in the UK, Netherlands, and Belgium, brings a diverse portfolio of underwriting expertise to Ryan Specialty's MGU portfolio. The acquisition, which is expected to close in the first half of 2024, will expand Ryan Specialty's UK and European footprint and is part of their strategy to grow their total addressable market. Castel's operating revenue for the 12 months ended November 30, 2023, was approximately £35 million. Terms of the deal were not disclosed, and the closure is subject to regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:09 pm

ETAO

ETAO International Co. Ltd. has appointed Ryoshin Nakade as the president of ETAO Japan, effective November 22, 2023. Ryoshin Nakade has a diverse background, including roles as chairman of Tokyo Robot Co., Ltd, a founding member of Lawyer Corporation AURA, and a researcher at Japan University of Economics. His appointment is expected to enhance ETAO's 'Buy Build and Expand' and 'Online Merging Offline' strategies in the Asian market and accelerate the development and market penetration of ETAO's integrated healthcare services.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:03 pm

SMFL

Smart for Life, Inc. (NASDAQ:SMFL) shares surged on heavy trading volume, with over 77 million shares traded, far exceeding the 100-day average of less than 685 thousand shares. The spike follows the company's announcement of executive team additions and ongoing negotiations for two acquisitions expected to generate approximately $25 million in revenue. The CEO also mentioned a material restructuring program, including capital markets strategies and the disposition of non-performing assets to improve stockholder's equity for Nasdaq compliance.

Portfolio Pulse from Erica Kollmann

December 21, 2023 | 7:29 pm

AAPL

Apple Inc. is currently unable to repair older out-of-warranty Apple Watch models due to a ban. The ban specifically affects the Apple Watch Series 9 and Ultra 2, leaving customers with these models without the option for official repairs. This situation may impact customer satisfaction and could potentially affect Apple's after-sales service reputation.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 7:25 pm

MSFT

Sam Altman, CEO of OpenAI, reflects on 2023 as a transformative year for AI and his role as a public figure. Despite a brief firing and rehiring incident at OpenAI, backed by Microsoft Corp (NASDAQ: MSFT), Altman remains CEO. OpenAI introduced a 'Preparedness Framework' to ensure company sustainability beyond Altman's leadership. Altman anticipates sharing significant progress in AI research and governance in 2024.

Portfolio Pulse from Vandana Singh

December 21, 2023 | 7:23 pm

GBR

Gene Bertcher has been reelected as Chairman of the Board, President, CEO, and CFO of New Concept Energy, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 7:15 pm