Streetbeat News

Corporate Responsibility

CING

Cingulate's CFO Louis G. Van Horn retired effective immediately on Dec 13, as per an SEC filing. Shane Schaffer will serve as the interim Principal Financial Officer until a new CFO is appointed.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 2:00 pm

EADSY

Airbus SE (OTC:EADSY) is in advanced discussions with Atos to acquire its cybersecurity division BDS, which is part of Eviden. Despite Airbus withdrawing from a previous deal for a stake in Evidian in March, CEO Guillaume Faury remains open to a strategic partnership. Airbus's restructuring in 2024 aims to focus on defense and space, with Christian Scherer leading the planemaking division. Airbus delivered 64 aircraft in November, totaling 623 for the year. Airbus's subsidiary is also developing solar-powered drones for communication services. EADSY shares closed down 1.26% at $38.50.

Portfolio Pulse from Nabaparna Bhattacharya

December 15, 2023 | 1:17 pm

LOCL

Local Bounti Corporation announced that Chairman Craig Hurlbert will take over as CEO, effective immediately, replacing Anna Fabrega. The company also revised its FY23 sales forecast to $28 million, which is lower than the estimated $30.57 million. Additionally, the company anticipates saving about $3.2 million annually due to these changes.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:10 pm

MSFT

TSLA

Tesla CEO Elon Musk criticized Microsoft Word for flagging language it deems not 'inclusive', such as the word 'insane' used in the context of Cybertruck's stability. Musk, who has been a vocal opponent of 'wokeness', shared his frustration on X (formerly Twitter), highlighting the software's suggestions to describe the Cybertruck's towing capacity in unconventional terms.

Portfolio Pulse from Anan Ashraf

December 15, 2023 | 1:09 pm

VLD

Velo3D's CEO Benny Buller has stepped down from his position effective immediately. The company has appointed Brad Kreger as the Interim CEO and has begun the search for a permanent replacement. This sudden leadership change may affect the company's strategic direction and investor confidence in the short term.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:04 pm

BEKE

KE Holdings has published its 'Beike Carbon Neutrality Target and Action Roadmap Report' outlining its goals to achieve carbon neutrality by 2030. The report details the company's strategies and initiatives to reduce carbon emissions across its operations.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 12:32 pm

INTC

MBLY

MSFT

Intel Corp's CEO Pat Gelsinger announced that Intel Foundry Services (IFS) will not be spun off but will operate as a separate business within Intel, starting to report its financials in Q2 of the next year. Unlike Mobileye Global Inc and its programmable chip unit, IFS will not become an independent entity. Gelsinger emphasized the benefits of the integrated operation of Intel's chip design and factory units. He also discussed AI applications, mentioning the high costs for companies like Microsoft Corp to run these workloads in real-time on devices through Azure. Intel shares are up 1.79% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

December 15, 2023 | 12:06 pm

HBI

HanesBrands has announced that William Simon will become Chairman effective December 31, 2023. Ronald Nelson, Cheryl K. Beebe, and Ann E. Ziegler will retire from the Board at year-end. This follows the recent appointment of three new independent directors and is part of the company's plan to reduce the Board size to 10 members.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 12:04 pm

EADSY

ESYJY

RTX

Christopher T. Calio has been appointed as the next CEO of RTX Corporation (NYSE:RTX), effective May 2, 2024, succeeding Gregory J. Hayes. Calio, currently President and COO, will also join the board of directors on December 14, 2023. Hayes will continue as executive chairman. RTX has recently collaborated with EasyJet (OTC:ESYJY) and Airbus SE (OTC:EADSY), and formed a joint venture with Rafael Advanced Defense Systems for missile production. RTX shares saw a slight increase in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

December 15, 2023 | 11:50 am

DIS

META

Elon Musk criticized Disney (NYSE:DIS) and its CEO Bob Iger for increasing ad spending on Instagram, owned by Meta Platforms Inc. (NASDAQ:META), accusing them of 'double standards.' Musk's comments follow reports of Instagram recommending inappropriate content and his platform X's valuation drop to half of its $44 billion purchase price. Musk also disparaged Instagram, calling it a 'banal online modeling agency,' and suggested that advertising more on Instagram won't compensate for a lack of engagement on X.

Portfolio Pulse from Ananya Gairola

December 15, 2023 | 11:00 am