Streetbeat News

Corporate Responsibility

FLNC

Fluence is actively pursuing owed payments and will dispute allegations made in a counterclaim by Diablo Energy Storage, LLC. The counterclaim was a response to Fluence's initial complaint regarding Diablo's failure to fulfill contract terms, including payment. Fluence asserts that their work on the Diablo Plant was satisfactory and expects payment, deeming the counterclaim meritless. They intend to defend against Diablo's claims while enforcing their own.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:29 pm

ERNA

Eterna Therapeutics has announced the appointment of Sanjeev Luther as President and CEO, effective January 1, 2024. He will succeed Matt Angel in these roles.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:17 pm

ADT

ADT Inc. has announced that Executive Vice President and CFO Ken Porpora will step down and depart at the end of the year. Jeff Likosar, currently President of Corporate Development and Chief Transformation Officer, will serve as interim CFO. Likosar has prior experience as ADT's CFO from 2017 to 2022. The company has initiated an external search for a new CFO.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:15 pm

NXST

Nexstar Media Group, Inc. (NASDAQ:NXST) has announced a multi-year extension of the employment agreement with Lee Ann Gliha, the company's Executive Vice President and Chief Financial Officer. Gliha, who joined Nexstar in August 2021, plays a key role in financial management, strategic planning, and M&A. Nexstar's CEO Perry Sook praised Gliha's positive impact and her contributions to the company's growth.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:10 pm

RMD

ResMed (NYSE:RMD) is conducting a voluntary global field action to update instructions and labeling for masks with magnets due to potential interference with certain medical devices like pacemakers. This update follows five reports of serious harm potentially related to magnetic interference. The affected masks are AirFit N10, AirFit F20, AirTouch F20, AirFit N20, AirTouch N20, AirFit F30, and AirFit F30i. No return of masks is required unless a patient is contraindicated. ResMed has notified the FDA and is providing guidance to healthcare providers and patients.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:09 pm

BMRN

BioMarin Pharmaceutical has announced initiatives aimed at improving corporate governance and boosting long-term shareholder value. These include the appointment of three new independent directors and the establishment of a Strategic and Operating Review Committee. Additionally, BioMarin has entered into cooperation and information sharing agreements with Elliott Investment Management.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:09 pm

PLAY

Dave & Buster's Entertainment (PLAY) announced the retirement of CFO Michael Quartieri effective April 30, 2024. Quartieri will continue as CFO until a successor is appointed and will provide advisory services for a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:07 pm

SHPW

Shapeways announced a workforce reduction of approximately 33 employees, which is about 24% of its global non-production workforce, as part of its cost-reduction initiatives that began in Q3 of the current year. This reduction represents around 15% of the total global workforce of the company.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:07 pm

PARA

WBD

Warner Bros. Discovery (WBD) CEO David Zaslav and Paramount Global (PARA) CEO Bob Bakish have met to discuss a potential merger. The merger would create a media giant, likely triggering further industry consolidation. The companies could combine streaming services and other assets for better competition against Netflix and Disney+. WBD has hired bankers to explore the deal, and while it's early, the talks indicate a response to industry pressures such as cord-cutting and tech competition.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 8:56 pm

C

Citigroup is closing its global distressed-debt group as part of CEO Jane Fraser's restructuring plan, known internally as Project Bora Bora. The move aims to exit low-return businesses to meet Fraser's performance targets. This follows the recent shutdown of Citigroup's municipal-bond trading operations. The distressed-debt group, which deals with securities of companies near or in bankruptcy, has around 40 employees.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 8:44 pm