Streetbeat News

Corporate Responsibility

LPTH

LightPath Technologies has postponed its Annual Meeting of Stockholders to evaluate remedial measures for procedural issues. The new meeting date is expected to be in January 2024.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:49 pm

FSR

Fisker Inc. has identified material weaknesses in its internal control over financial reporting. This disclosure could impact investor confidence and raise concerns about the reliability of the company's financial statements.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:44 pm

VTLE

Vital Energy has promoted Katie Hill to the position of Senior Vice President and Chief Operating Officer (COO), with the promotion effective from November 13, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:39 pm

EGLX

Enthusiast Gaming has appointed Felicia Dellafortuna as its new CFO, effective November 14, replacing Alex Macdonald.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:35 pm

MKFG

Markforged (MKFG) is maintaining its FY23 revenue guidance of $90M-$95M, which is below the estimated $105.49M. The company cites an uncertain macro environment and high cost of capital affecting customer purchases. Non-GAAP gross margins are expected to remain within 47%-48%. Markforged is focusing on profitable growth and has announced a reorganization to save $9-$12 million annually in opex starting in 2024, with one-time restructuring costs of about $0.9 million. The operating loss for the year is projected to be $59-$61 million, and the Non-GAAP EPS loss is expected to be $0.26-$0.28, including restructuring costs.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:34 pm

AZTA

Azenta announced a strategic and governance transformation, nominating Didier Hirsch and Martin Madaus for election to its Board of Directors at the 2024 Annual Meeting. Two current independent directors will not seek re-election. If elected, the Board will have ten directors, with nine being independent and seven having joined since 2018. Politan has withdrawn its notice to nominate candidates for the Board at the Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:25 pm

WETG

WeTrade Group has stated in an SEC filing that Zheng Dai, Pijun Liu, and some individuals were responsible for filing Forms 8-K on Sept 28 and Oct 10, which falsely claimed to appoint new officers and directors. The company has declared these filings to be 'false' and advises that they should be disregarded.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 8:44 pm

STLA

Stellantis, the parent company of Chrysler and brands like Jeep, Ram, and Dodge, is set to offer voluntary buyout packages to U.S. salaried workers with at least five years of experience. This move is part of cost-cutting efforts as the automaker faces a costly shift to electric vehicles and anticipates higher labor costs from an upcoming union contract. The announcement was made by COO Mark Stewart in an all-hands meeting.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 8:30 pm

TTWO

Take-Two Interactive Software Inc's CEO, Strauss Zelnick, discussed the potential of generative AI to enhance NPCs in video games, specifically in the context of the highly anticipated GTA 6. While not confirming its use in the upcoming game, he highlighted the technology's ability to make NPC interactions more engaging. Zelnick also emphasized the company's continuous drive for innovation despite the success of GTA 5. He touched on industry challenges, Take-Two's acquisition of Zynga, and their cautious stance on adapting game franchises into movies and TV shows.

Portfolio Pulse from Franca Quarneti

November 13, 2023 | 7:42 pm

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GM

SPY

STLA

TSLA

Senator Manchin has called for the U.S. Treasury to adopt the strictest standards for electric vehicle tax credits, aiming to prevent Chinese minerals from benefiting from subsidies. This could impact the sourcing strategies of U.S. automakers and potentially affect the competitiveness of their electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 7:12 pm