Streetbeat News

Corporate Responsibility

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GM

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TSLA

President Biden has stated that Toyota was compelled to increase wages due to a UAW deal with the Big Three automakers. He expressed his desire for all autoworkers to benefit from such deals.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 7:05 pm

GS

Goldman Sachs is reportedly working on a dozen projects that will incorporate generative AI into its business practices, according to the Reuters NEXT Conference.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 6:58 pm

AFIB

Acutus Medical reported Q3 financial results and announced a strategic realignment of resources and corporate restructuring by approximately 65%. This has led to a decrease in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:59 pm

MAT

Mattel has announced plans to streamline its organizational structure, with the actions expected to be completed by the end of 2024. The company anticipates annual gross cost savings of about $21M from these actions. In addition, Mattel has executed other cost-saving actions in the first nine months of 2023 not included in this program.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:52 pm

MAT

Mattel has announced that it will discontinue production at its plant in China as part of cost-saving measures not included in its program to optimize manufacturing footprint, according to a SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:49 pm

AAPL

VTI

Adam Nash, co-founder & CEO of Daffy.org, suggests that donating stock instead of cash to charity can provide significant tax benefits. Donating appreciated assets allows the donor to deduct the current market value of the security and avoid paying capital gains taxes. The charity also benefits as they don't have to pay capital gains taxes when they sell the donated stock. Nash uses Apple (NASDAQ:AAPL) and Vanguard Total Market (NYSE:VTI) as examples. He also mentions the use of donor-advised funds (DAFs) like Daffy.org to facilitate stock donations.

Portfolio Pulse from Adam Nash

November 09, 2023 | 5:00 pm

SHEL

Shell PLC (NYSE:SHEL) has initiated a legal action against Greenpeace, seeking $2.1 million in damages after Greenpeace activists boarded a Shell oil production vessel in protest against oil drilling. Shell offered to reduce the damages to $1.4 million if Greenpeace refrains from further protests at Shell's offshore oil and gas sites. Greenpeace countered with a demand for Shell to adhere to a 2021 Dutch court order requiring a 45% cut in emissions by 2030.

Portfolio Pulse from Shivani Kumaresan

November 09, 2023 | 4:19 pm

LYFT

EVCS and Lyft Inc. (NASDAQ:LYFT) have announced a new partnership program that offers discounted charging on the EVCS network for Lyft's EV drivers. The program is available to all EV drivers on Lyft and covers all EVCS publicly accessible charging stations across California, Oregon, and Washington. The program aims to accelerate the transition to clean transportation in these states and aligns with California's Clean Miles Standard, which mandates 90% of rideshare vehicle miles traveled to be zero-emissions by 2030.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 4:04 pm

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NVO

SNY

UNH

Optum Rx, a pharmacy services company, is taking additional steps to make insulin more affordable. Starting from Jan. 1, 2024, it will place eight preferred insulin products on tier one of standard commercial formularies, limiting out-of-pocket spend to $35 or less. This move is part of Optum Rx's ongoing efforts to improve access and make critical medications more affordable. The products of three manufacturers, including Eli Lilly, Novo Nordisk, and Sanofi, will be added to tier one. Optum Rx also supported UnitedHealthcare in eliminating copays for consumers in group fully insured plans for insulin and other critical drugs.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:55 pm

AFIB

MDT

Acutus Medical Inc (AFIB) is restructuring to become a contract manufacturing business, winding down its electrophysiology mapping and ablation business. The company will support Medtronic's (MDT) left-heart access products manufacturing and distribution. The restructuring will reduce the workforce by 65% and is expected to be completed by Q1 2024. Acutus reported a Q3 EPS loss of $(0.52), beating the consensus of $(0.61), and Q3 sales of $5.24 million, up 44% Y/Y.

Portfolio Pulse from Vandana Singh

November 09, 2023 | 2:17 pm