Streetbeat News

Corporate Responsibility

GM

General Motors (GM) is set to lay off 1,314 employees at two Michigan plants due to production changes. The Orion Assembly plant will lose 945 jobs as GM delays production of the Chevrolet Silverado EV and GMC Sierra EV, with the plant's reopening pushed to late 2025. Additionally, 369 jobs will be cut at Lansing Grand River Assembly/Stamping with the end of Camaro production. GM plans to offer affected employees positions at other company locations.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 10:42 pm

RTX

RTX Corporation has appointed Christopher Calio as its new CEO. The announcement could signal a strategic shift or continuity in leadership, depending on Calio's background and the company's current direction. Investors will be watching for any changes in company policy, strategy, or performance under the new leadership.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 10:03 pm

CENN

Cenntro Electric Group has received an order from an Australian court to hold a meeting for shareholders to consider and vote on a proposed scheme. The explanatory statement for the scheme has been approved for distribution to shareholders, and the scheme booklet has been registered with the Australian Securities and Investments Commission (ASIC). The scheme meeting is scheduled for January 24, 2024, at 4:00 pm EST.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:50 pm

MTD

Mettler Toledo has announced that its Board Chair, Robert Spoerry, will retire. Roland Diggelmann is set to be nominated as the new Chair in May 2024.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:33 pm

TIGO

Millicom (Tigo) has increased its cumulative Equity Free Cash Flow target for 2022-2024 to around $600 million, up from the previous target of at least $500 million. This adjustment is due to expected savings from Project Everest, a shared mobile network in Colombia, and other initiatives. The company anticipates 2024 to be the peak year for EFCF, despite higher spectrum payments and severance charges in 2023. Additionally, Millicom has launched a share repurchase program for up to 2 million Swedish Depository Receipts to support its share-based incentive plans, with repurchases occurring between December 18, 2023, and May 22, 2024, subject to a maximum of SEK 420 million or 2 million SDRs.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:22 pm

NX

George Wilson, President and CEO, stated that it is too early to provide guidance at this time and plans to revisit the guidance for 2024 after the Q1 earnings report.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:20 pm

ARIS

Aris Water Solutions, Inc. (NYSE:ARIS) has been selected by the Department of Energy to receive a research grant for the treatment and desalination of produced water for non-consumptive agricultural use. The grant acknowledges Aris's efforts in water sustainability in the Permian Basin and supports the expansion of a greenhouse study with Texas A&M AgriLife. The study aims to optimize produced water treatment for agriculture, extract valuable minerals, and evaluate carbon sequestration benefits.

Portfolio Pulse from Happy Mohamed

December 14, 2023 | 9:19 pm

BRX

Angela M. Aman is set to leave her role as President, CFO, and Treasurer of Brixmor Property Group Inc. (BRX) on January 19, 2024, to become CEO of Kilroy Realty Corporation. Steven Gallagher, currently the Senior VP and Chief Accounting Officer, will take over as interim CFO. The company is considering both internal and external candidates for the permanent position.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:16 pm

RLI

RLI Corp. announced the retirement of Jonathan E. Michael as Chairman of the Board, effective at the conclusion of the 2024 Annual Meeting of Shareholders in May. Michael, who has over 40 years of service with RLI and retired as CEO in 2021, led the company through significant diversification and consistent growth. David B. Duclos, with 45 years of industry experience, will succeed Michael as Non-Executive Chairman. Duclos has been a Director since 2017 and is the current lead independent director. The leadership transition is part of the company's established succession plan.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:14 pm

KRC

Kilroy Realty Corporation has announced that Angela Aman will take over as Chief Executive Officer effective January 22, 2024. This executive change is significant for the company's leadership and strategic direction.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:08 pm