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SONO

Sonos Inc. is reducing its workforce in the product development organization as it gears up to enter the headphones market. This decision follows the company's recent earnings report and was communicated by Chief Product Officer Maxime Bouvat-Merlin to employees. The exact number of job cuts has not been disclosed, but affected employees will be notified by email.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:53 pm

GM

Union workers at General Motors have ratified a deal with the United Auto Workers (UAW) after a contentious vote. The agreement's details and the potential impact on GM's operations were not disclosed in the article.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:47 pm

AAL

American Airlines Group Inc. (AAL) subsidiary, American Airlines, Inc., plans to issue $750 million in senior secured notes due 2029 and borrow an equal amount under a new term loan. The proceeds, along with cash on hand, will be used to redeem $1.5 billion of its 11.75% Senior Secured Notes due 2025. The new notes and term loan will be secured by certain assets and guaranteed by the parent company. The offerings are subject to market conditions and are not interdependent.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:32 pm

AMZN

Amazon's Project Kuiper has successfully completed a series of orbital tests with a 100% success rate, validating the satellite design and paving the way for mass production in Kirkland, Washington. The tests included streaming video and facilitating an online sale, demonstrating the potential synergies with Amazon's other services. Project Kuiper aims to provide broadband internet access globally and is on track for full-scale deployment starting in the first half of 2024. The project is behind SpaceX's Starlink but plans to leverage Amazon's existing business lines.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:04 pm

MOXC

Moxian (BVI) Inc, a US-based bitcoin mining company, has announced a corporate name change to Abits Group Inc. The ticker symbol on the Nasdaq Capital Market will also change from 'MOXC' to 'ABTS' effective November 17, 2023. This change reflects the company's transformation and the launch of a new mining center in Tennessee. The change does not affect shareholder rights or the number of outstanding shares.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 2:28 pm

JJSF

Gerald B. Shreiber transitions to Chairman Emeritus at J & J Snack Foods Corp. (NASDAQ:JJSF), with Dan Fachner elected as the new Chairman of the Board. Fachner has been the President and CEO since 2021 and a Board member since 2022. Shreiber, the company's founder, has been a pivotal figure in the company's success over the past 50 years.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 2:26 pm

LUCD

PAVM

Lucid Diagnostics Inc. (LUCD) has expanded its executive team by hiring Natalie S. Carfora as VP, Market Access, and James M. Fricchione as VP, Employer Markets to support market access and direct contracting efforts. Shaun M. O'Neil has been promoted to President and COO. These moves aim to drive EsoGuard payor coverage and secure direct contracts, which are vital for Lucid's revenue growth. Lucid is a majority-owned subsidiary of PAVmed Inc. (PAVM).

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 2:14 pm

WMT

During a conference call, Walmart indicated that it is too early to determine the impact of GLP-1 class drugs on its customers and business.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 2:09 pm

GREE

Greenidge Generation Holdings has appointed Jordan Kovler as its new CEO, effective November 16. He will be taking over from David Anderson, who will transition to the role of Chairman of the Board.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 2:05 pm

BCAN

BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN) has submitted a plan for developing CRM software with AI for the medical cannabis industry, with a budget of $1.5M and a potential grant of $0.75M from Israel's Innovation Authority. The Israeli Finance Ministry has increased the high-tech sector fund to $100M to support startups during wartime challenges. The high-tech sector is vital to Israel's economy, contributing 18% to the GDP and 50% to foreign exports. The grant decision is pending, and there is no assurance of its full amount being awarded.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:47 pm