Streetbeat News

Corporate Responsibility

COIN

USDCUSD

XRPUSD

The Fairshake Super PAC, representing the U.S. crypto community, has raised over $78 million to support pro-crypto candidates in the 2024 elections. Contributions came from 20 companies and industry figures, including Andreessen Horowitz, Ark, Coinbase Global Inc. CEO Brian Armstrong, and Blockchain Capital. The PAC aims to gain 1 million supporters to advocate for fair crypto policies, with over 215,000 already onboard. The initiative reflects the interests of 52 million Americans who own digital assets and are dissatisfied with the current financial system.

Portfolio Pulse from Murtuza Merchant

December 18, 2023 | 5:09 pm

CCL

NCLH

RCL

Cruise companies like Carnival Corporation (CCL), Royal Caribbean Cruises Ltd. (RCL), and Norwegian Cruise Line Holdings Ltd. (NCLH) prohibit marijuana and CBD products on their ships, despite legalization in many states. This policy is enforced through measures like drug-sniffing dogs and pre-cruise reminders. A customer was banned for life from Carnival cruises for carrying CBD gummies. The article hints at a possible motive for the ban being to boost alcohol sales, a claim Carnival's chief communications officer dismisses, emphasizing customer well-being and service.

Portfolio Pulse from Jelena Martinovic

December 18, 2023 | 2:59 pm

FREY

Freyr Battery (NYSE:FREY) shares are trading higher after the company announced shareholder approval for redomiciling from Luxembourg to the United States by the end of 2023. The move is expected to enhance shareholder value by opening up strategic opportunities. Additionally, the U.S. Department of Energy invited Freyr to submit a Part II loan application for its Giga America project, which is seen as a significant step in funding the project. The company will continue to work on the DOE Title 17 process in 2024 and will provide updates as necessary.

Portfolio Pulse from Adam Eckert

December 18, 2023 | 2:50 pm

ILMN

Carl Icahn has issued an open letter to Illumina, Inc. shareholders, outlining his campaign's goals and achievements, including the removal of the former Chairman and CEO, and pushing for the divestiture of GRAIL. He criticizes the legacy directors for their decision-making and the significant decline in Illumina's share price. Icahn expresses concern over the directors' conflicts of interest and their handling of the GRAIL acquisition, which faced legal challenges and led to substantial financial losses. He urges the removal of these directors to restore Illumina's former success and has filed a lawsuit for disclosure of key information before the upcoming annual meeting.

Portfolio Pulse from Happy Mohamed

December 18, 2023 | 2:47 pm

FCEL

XOM

FuelCell Energy Inc (NASDAQ:FCEL) stock is trading higher after announcing a pilot plant development with ExxonMobil Corp (NYSE:XOM) affiliate Esso Nederland BV at Rotterdam. The plant will test fuel cell technology to reduce CO2 emissions, with partial funding from the EU and the Netherlands Enterprise Agency. FuelCell Energy's CEO believes this technology is a game-changer for decarbonizing heavy industry.

Portfolio Pulse from Adam Eckert

December 18, 2023 | 2:45 pm

EPOW

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) announced that their patent application for a 'Multivariable Particle Size Control System for Graphite Micropowder Production' has been accepted by the National Intellectual Property Bureau. The system improves upon traditional air grinding systems used in graphite manufacturing, offering adjustable variables and low failure rates. The company, which now holds 56 patents, reinforces its position as a leader in graphite manufacturing and advanced lithium-ion battery materials technology.

Portfolio Pulse from Happy Mohamed

December 18, 2023 | 2:34 pm

UL

Unilever PLC (NYSE:UL) has received a binding offer from Yellow Wood Partners LLC to purchase its Elida Beauty business, which includes over 20 brands and generated approximately €0.8 billion in 2022 revenue. The sale is part of Unilever's strategy to optimize its Personal Care portfolio and focus on growing its Power Brands. The transaction is expected to close by mid-2024, pending regulatory approval and other customary conditions. Unilever's stock (UL) saw a slight increase of 0.34% in premarket trading.

Portfolio Pulse from Lekha Gupta

December 18, 2023 | 2:18 pm

FTDR

Frontdoor, Inc. (NASDAQ:FTDR) has announced the promotion of Kathy Collins to SVP & Chief Revenue Officer and Evan Iverson to SVP & Chief Operations Officer, effective January 1, 2024. These newly created positions aim to enhance the growth and customer experience of the American Home Shield and Frontdoor brands. Collins will oversee revenue-generating activities without backfilling her previous role as Chief Brand Officer. Iverson will manage operational functions and continue his work on contractor engagement without a separate backfill for his previous role.

Portfolio Pulse from Happy Mohamed

December 18, 2023 | 2:15 pm

ODP

AREX Capital sent a letter to ODP Corporation's Board of Directors urging them to restart the separation process of Office Depot and to sell Varis. AREX believes these actions will unlock shareholder value and is critical for ODP's future success.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 2:04 pm

FRTX

Fresh Tracks Therapeutics Inc (NASDAQ:FRTX) shares are experiencing volatility after the company announced it will be delisted from Nasdaq and move to an over-the-counter market. The delisting follows the company's decision to withdraw an appeal for Nasdaq listing in preparation for a planned liquidation and dissolution. A stockholders' meeting is scheduled to vote on the liquidation plan, with a warning that failure to approve could lead to a judicial dissolution, potentially reducing cash distribution to stockholders.

Portfolio Pulse from Henry Khederian

December 18, 2023 | 1:44 pm