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Corporate Responsibility

INBS

Intelligent Bio Solutions has been accredited by the National Association of Testing Authorities for its drug screening solution, Intelligent Fingerprinting. This accreditation could enhance the credibility and adoption of their product in the market.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:34 pm

APLD

Applied Digital Corporation (NASDAQ:APLD) has entered into a long-term Retail Electric Service Agreement with TerraForm Power for a 200-MW datacenter in Garden City, Texas. The datacenter will interconnect with TerraForm's Wind Farm, facilitating low-cost power and alleviating transmission congestion. This partnership highlights Applied Digital's industry-leading digital infrastructure platform and TerraForm Power's commitment to providing energy solutions.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:18 pm

GIL

Oakcliff Capital, a shareholder of Gildan Activewear Inc. (NYSE:GIL), has sent a letter to Gildan's Board of Directors expressing dissatisfaction with the firing of CEO Glenn Chamandy and the direction of the board. Oakcliff, which owns 0.4% of Gildan's shares, is calling for Chamandy's reinstatement and a change in the board's chairman, as well as the addition of two shareholder representatives. They believe these changes are urgent to resolve the uncertainty affecting Gildan's customer and employee relationships.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:17 pm

AAPL

NVDA

TSM

Mark Liu, Chairman of Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM), is set to retire after the 2024 Annual Shareholders Meeting. He has been instrumental in TSMC's growth and expansion, including overseas ventures in Germany, Japan, and the U.S. CEO C.C.Wei is proposed to succeed him as chairman. TSMC holds over 55% of the global chipmaking market share and has seen its market value triple since 2018. The company is a key partner for Apple Inc. (NASDAQ: AAPL) and Nvidia Corp. (NASDAQ: NVDA). TSM shares saw a slight decline in premarket trading.

Portfolio Pulse from Vandana Singh

December 19, 2023 | 1:10 pm

MDAI

Spectral AI has announced the appointment of Peter Carlson as its new Chief Financial Officer (CFO), taking over from Nils Windler. The company has not provided details on the reasons for the change or the future plans of the outgoing CFO.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:07 pm

FITB

Fifth Third Bancorp (NASDAQ:FITB) announced executive leadership changes effective January 2, 2024. Tim Spence is appointed as chairman of the board, succeeding Nick Akins, who becomes lead independent director. Jamie Leonard transitions from CFO to COO, overseeing key customer-facing groups. Bryan Preston, currently treasurer, is promoted to CFO, and Brennen Willingham steps up as treasurer. These changes aim to position Fifth Third for stability, profitability, and growth.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:02 pm

ILMN

Carl Icahn is intensifying his boardroom battle at Illumina Inc (NASDAQ:ILMN) by seeking to remove more directors after the company's decision to divest Grail Inc. Icahn, who successfully pushed for the ousting of former CEO Francis deSouza and the divestiture of Grail, now aims to remove 'legacy conflicted directors' whom he blames for poor decision-making and a significant drop in Illumina's share price. The activist investor's plans may change before the January 26 nomination deadline, with voting on nominees expected at the next annual general meeting.

Portfolio Pulse from Vandana Singh

December 19, 2023 | 12:58 pm

ENPH

Enphase Energy Inc (NASDAQ:ENPH) is reducing its global workforce by 10%, ceasing operations in Romania and Wisconsin, and resizing other manufacturing sites. The company will focus on U.S. production, aiming for a capacity of 7.25 million microinverter units per quarter. The restructuring will cost $16-$18 million, with $7 million in cash expenditures. Enphase anticipates non-GAAP operating expenses of $75-$80 million per quarter by 2024. The decision follows reduced demand for solar inverters in the U.S. due to metering reform and higher lending rates. ENPH shares rose 1.27% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 19, 2023 | 12:43 pm

BLK

EBIX

Ebix Inc. (NASDAQ:EBIX) has filed for bankruptcy in the U.S. due to debts over $600 million, casting doubt on the future of its Indian subsidiary, EbixCash, and its planned IPO. The bankruptcy stems from unpaid loans, increased interest expenses, a change in auditing firm, and a negative report from Hindenburg Research. CEO Robin Raina, the largest shareholder, and other major shareholders like BlackRock Inc. (NYSE:BLK) are affected. EbixCash's RBI license could be at risk, and there's controversy over Raina's $1.8 million bonus amid the financial crisis.

Portfolio Pulse from Shomik Sen Bhattacharjee

December 19, 2023 | 12:34 pm

VWAGY

Volkswagen AG (OTC:VWAGY) has announced it will cover the EV subsidy for German customers who ordered from its all-electric ID. series before Dec. 15, after the German government cut funding. The subsidy will be up to €6,750 for vehicles registered within the year and €4,500 for those registered between Jan. 1 and Mar. 31. Stellantis also plans to fund the full subsidy until year-end, with a reduced subsidy for registrations by Feb. 29. Critics argue the subsidy cut could harm German automakers' competitiveness.

Portfolio Pulse from Benzinga Neuro

December 19, 2023 | 12:18 pm