Streetbeat News

Corporate Responsibility

TELL

Tellurian Inc. (NYSE:TELL) has appointed Martin Houston as the new Chairman of the Board of Directors. Co-Founder Charif Souki steps down from executive roles but remains on the Board. The company clarifies that these changes are not due to any material or unexpected financial events.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 9:59 pm

UPS

UPS has agreed to reinstate approximately 35 specialist and administrative workers at its Centennial hub in Louisville after they were terminated for work UPS claimed should be done by management. The workers had voted to join Teamsters Local 89 in October. Teamsters leadership intervened, resulting in the workers' reinstatement with full back pay, avoiding potential labor action. The agreement also extends to Teamsters Local 705 in Chicago, and the workers will return to their positions on their next scheduled workdays.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 8:56 pm

IDAI

Trust Stamp (NASDAQ:IDAI) has been selected for the ICBA ThinkTECH Accelerator program, starting January 8, 2024, in Atlanta. The program aims to support community bank innovation in areas such as analytics, automation, and compliance. Trust Stamp provides AI-powered identity services with biometric solutions that enhance privacy and operational efficiency. Over 35 community banks have adopted Trust Stamp's technology since the launch of its Orchestration Layer in 2022. The ICBA ThinkTECH Accelerator connects fintech companies with community bankers to develop solutions for modern banking needs.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 8:51 pm

AAPL

Tang Tan, Apple Inc.'s vice president of product design for the iPhone and smartwatch, is set to leave the company in February. This departure is expected to lead to a reorganization within the hardware engineering group. Tan's exit is not yet public and was reported by sources familiar with the matter.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 8:00 pm

SBUX

Starbucks Corporation (NASDAQ:SBUX) has initiated contact with the union representing its workers to resume bargaining, aiming to improve relations. The union, representing over 9,000 workers at 360 U.S. stores, has been pushing for better pay and working conditions. Starbucks' Chief Partner Officer Sara Kelly has proposed to restart negotiations in January 2024. The company owns nearly 10,000 U.S. locations, with less than 3% unionized. SBUX shares saw a slight increase of 0.23% to $96.66.

Portfolio Pulse from Nabaparna Bhattacharya

December 08, 2023 | 7:19 pm

BAC

BK

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GS

JPM

MS

STT

WFC

During a Senate Banking Committee hearing, Sen. Raphael Warnock questioned eight Wall Street bank CEOs about their support for the SAFER Banking Act, which aims to provide legal and regulatory clarity for banks in the cannabis sector. Only Brian Moynihan of Bank of America showed tentative support. The CEOs were also asked about the Act's potential to reduce the racial wealth gap and their commitment to uphold the Community Reinvestment Act standards. All CEOs agreed to support the intent but sought more details.

Portfolio Pulse from Nina Zdinjak

December 08, 2023 | 5:18 pm

GOOG

GOOGL

Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) stock is trading lower after reports surfaced that the company misrepresented the capabilities of its Gemini AI model in a demo video. The video, which has over a million views, showcased Gemini's multimodal capabilities but used carefully tuned text prompts with still images instead of live demonstrations. This has led to concerns about Google's transparency and trustworthiness. Despite this, Google has integrated Gemini AI into its chatbot Bard and plans to expand its use in other products.

Portfolio Pulse from Anusuya Lahiri

December 08, 2023 | 5:11 pm

PSX

Phillips 66 (NYSE:PSX) announced a 2024 capital budget of $2.2 billion, with $923 million allocated for sustaining capital and $1.3 billion for growth. The budget supports strategic priorities such as the NGL value chain, the Rodeo renewable fuels facility, and refining performance enhancements. Excluding joint venture debt repayments, the budget is $2 billion. The company aims to return $13B-$15B to shareholders by the end of 2024. The budget includes savings from business transformation efforts and the consolidation of DCP Midstream. Phillips 66's share of capital spending in joint ventures CPChem and WRB is expected to be $1 billion and self-funded. The total 2024 capital program, including joint ventures, is projected at $3.2 billion.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:10 pm

SBUX

Starbucks Corp. has initiated contact with Workers United, the union representing many of its stores, to resume negotiations and potentially end the ongoing impasse. The company aims to restart discussions with a selection of representative stores in January 2024, as stated by Starbucks Chief Partner Officer Sara Kelly in a letter to the union president. Starbucks is seeking to establish a framework for how future bargaining could be conducted.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 4:49 pm

LLY

Eli Lilly and Company (NYSE:LLY) has announced a 15% increase in its quarterly dividend, raising it from $1.13 to $1.30 per share. The dividend will be payable on March 8, 2024, to shareholders of record as of February 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 4:28 pm