Streetbeat News

Corporate Responsibility

TRU

TransUnion anticipates significant cost savings from its transformation initiative, projecting $120M-$140M in annual operating expense reductions and $70M-$80M in capital expenditure cuts by 2026 compared to 2023.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:32 pm

TRU

TransUnion has announced the next phase of its transformation program, which is expected to affect approximately 10% of its current workforce. This impact will come through the relocation of some positions to Global Capability Centers (GCC) locations and the elimination of other positions.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:31 pm

BG

Bunge (NYSE:BG) and Musim Mas Group have announced a partnership to train over 1,000 smallholder farmers in sustainable palm oil production in West Kalimantan, Indonesia. The program, which is co-funded by both companies, will run through 2025.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:22 pm

BIDU

Baidu CEO Robin Li has expressed concerns about the overinvestment in large language models in China, suggesting it could lead to resource waste. He emphasized the importance of developing practical AI applications rather than focusing solely on foundational models. Despite the release of numerous large models in China, few AI applications have emerged. Baidu's own large language model, Ernie, was made public in August, and Ernie 4.0 was showcased in October. Baidu's stock (BIDU) saw a premarket increase of 2.70% to $112.50.

Portfolio Pulse from Anusuya Lahiri

November 15, 2023 | 12:22 pm

VRSK

Verisk has introduced a new solution designed to help insurers evaluate their underwriting models and variables for any signs of unfair discrimination. This tool aims to ensure that insurers comply with regulatory standards and maintain fair practices in their underwriting processes.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:17 pm

ALKS

Alkermes has updated its 2023 adjusted EPS forecast to $1.57-$1.75, up from the previous range of $1.34-$1.57. This revision is based on the company's financial performance up to September 30, 2023, and the expected reduction in operating expenses by about $20 million following the separation of its oncology business. The cost savings are mainly due to decreased Research and Development expenses.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:14 pm

MANU

Manchester United has announced that Richard Arnold will step down as CEO. Patrick Stewart is set to take over as Interim CEO.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:09 pm

GT

Goodyear Tire & Rubber Company has unveiled its 'Goodyear Forward' transformation plan, which includes exploring strategic alternatives for its chemical business, the Dunlop brand, and the off-the-road equipment tire business. This move is aimed at optimizing the company's portfolio and focusing on core operations.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:07 pm

GT

Goodyear has announced that Rich Kramer will retire from his roles as Chairman, CEO, and President. A successor has not been named, and the timeline for Kramer's departure is not specified in the article.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:05 pm

JMIA

Jumia Technologies AG has updated its 2023 adjusted EBITDA loss forecast to $(80)M-$(90)M, an improvement from the previously communicated range of $(90)M-$(100)M. The company is focused on decreasing its losses and moving towards profitable growth and cash efficiency.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 11:54 am