Streetbeat News

Corporate Responsibility

DUK

The North Carolina Utilities Commission (NCUC) has issued an order on Duke Energy Carolinas' Performance-Based Regulation application, which Duke Energy views as constructive. The order approves capital investments for system reliability and a cleaner energy future, implements Performance-Based Regulations, approves settlements from the proceeding, and introduces Performance Incentive Mechanisms and innovative rate designs. Duke Energy will assess the impact on customer rates in the coming weeks.

Portfolio Pulse from Benzinga Newsdesk

December 16, 2023 | 11:47 pm

VTRS

Viatris Inc. (NASDAQ:VTRS) has announced the appointment of Theodora 'Doretta' Mistras as CFO effective March 1, 2024, and Philippe Martin as Chief R&D Officer effective immediately. Mistras brings extensive experience from Citigroup and Goldman Sachs, while Martin has a strong background from Celgene and Schering-Plough. Current CFO Sanjeev Narula will assist in the transition until his departure. The appointments are part of Viatris' strategic plan as it enters Phase 2, aiming for expanded growth and enhanced shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 16, 2023 | 11:31 pm

GOLD

Barrick Gold Corporation (NYSE:GOLD) has restarted operations at the Porgera mine in Papua New Guinea, sharing 49% of the project with Zijin Mining Group. The mine, under care since 2020 due to a dispute, is expected to produce 21 tonnes of gold annually over 20 years. Barrick's stock underperformed gold prices, with only 2.2% gains compared to gold's 11% rise. The company also faces challenges in Tanzania with allegations of forced evictions at the North Mara mine, which Barrick denies.

Portfolio Pulse from Stjepan Kalinic

December 16, 2023 | 4:23 pm

AAPL

Apple Inc. has agreed to a $25 million settlement in a class action lawsuit regarding its Family Sharing feature. The lawsuit, filed in 2019, claimed Apple misrepresented how app subscriptions worked with Family Sharing. Users who purchased an app subscription between June 21, 2015, and January 30, 2019, and shared it with at least one family member are eligible to claim up to $50. The deadline to file a claim is March 1, 2024, with $15 million allocated for users after attorney fees.

Portfolio Pulse from Rounak Jain

December 16, 2023 | 8:51 am

ATVI

MSFT

Activision Blizzard, now a Microsoft subsidiary, has agreed to a $55 million settlement with the California Civil Rights Department over gender discrimination claims. The settlement, which is pending court approval, will provide relief to women who faced discrimination from October 2015 to December 2020. This follows a previous $18 million settlement with the EEOC and comes after Microsoft's $69 billion acquisition of Activision Blizzard, which was approved after Microsoft agreed to sell some game streaming rights to Ubisoft to address competition concerns.

Portfolio Pulse from Ananya Gairola

December 16, 2023 | 5:10 am

TSLA

Elon Musk responded with a simple 'Ok' to a Tesla user's complaint on X about the Full Self-Driving (FSD) mode disengaging when the car exceeds 85 mph. The user suggested a 10-second timer warning instead of an immediate strike. Musk's brief acknowledgment comes as Tesla continues to develop and test FSD, which is still in beta mode and requires driver supervision. Musk has previously indicated that Tesla is close to achieving full self-driving capability, with version 12 of FSD expected to no longer be beta.

Portfolio Pulse from Anan Ashraf

December 16, 2023 | 3:38 am

PSHZF

TSLA

Elon Musk has expressed support for Bill Ackman's stance against anti-Semitism at Ivy League universities, specifically Harvard. Ackman has called for the resignation of Harvard's president, Claudine Gay, due to her handling of anti-Semitic incidents. Musk's support is reciprocated, as Ackman previously defended Musk against accusations of anti-Semitism. Ackman's Pershing Square Foundation remains invested in Musk's company, X (formerly Twitter). Musk is also planning to launch his own university in Texas, with a $100 million pledge to his charity focusing on STEM education.

Portfolio Pulse from Rounak Jain

December 16, 2023 | 2:17 am

GBNH

Greenbrook TMS Inc. has amended its credit facility with Madryn Asset Management, securing an additional $4,015,548.22 in debt financing. The total outstanding under the credit facility is now approximately $76 million. The new funds will be used for debt service obligations and general corporate purposes. Madryn has the option to convert up to $365,050 of the new loan into common shares at $1.90 per share. The liquidity covenant has been extended to January 15, 2024. The transactions are classified as 'related party transactions' and the company is using the 'financial hardship' exemption to bypass formal valuation and minority approval requirements.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 9:34 pm

GIL

Pzena Investment Management, a firm owning over 10 million shares of Gildan Activewear Inc., has issued a letter to Gildan's Board of Directors urging the re-appointment of Glenn Chamandy as CEO. Pzena has a 28-year history and is taking an active stance in the company's leadership decisions.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 9:25 pm

EME

EMCOR Group announced a change in its executive team, with Jason Nalbandian set to become CFO, succeeding Mark Pompa on April 1, 2024. Additionally, R. Kevin Matz will step down as Executive Vice President Shared Services on the same date.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 9:18 pm