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Corporate Responsibility

NOK

Nokia plans to reduce its headcount from 86,000 to between 72,000 and 77,000 by 2026 in an effort to save between €800 million and €1.2 billion. The company aims to increase operational efficiency and reduce costs while maintaining its R&D capacity and commitment to technology leadership.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 7:34 am

TSLA

Tesla CEO Elon Musk has declined to provide updates on the company's humanoid robot Optimus. Musk stated that the company is not ready to discuss details of the Optimus program. During Tesla's Q2 earnings in July, Musk had said that the first Optimus with all Tesla-designed actuators would be operational by November and production would ramp up soon after. However, Musk has now refused to provide any further updates.

Portfolio Pulse from Anan Ashraf

October 19, 2023 | 4:33 am

INTC

Intel CEO Pat Gelsinger has emphasized the need for a concerted effort from industry and government to secure victory in the chip war. He criticized the U.S. industrial policy of the past three decades, which led to the outsourcing of the U.S. manufacturing base to Asia. Gelsinger revealed that the U.S. and Europe currently hold only 20% of the global share of advanced chip factories, a significant drop from the 80% they controlled in the 1990s. He urged for quicker disbursement of Chips Act funds and increased investment in scientific research, as well as a change in immigration laws to address the talent shortage in the U.S. chip industry.

Portfolio Pulse from Benzinga Neuro

October 19, 2023 | 4:10 am

CBUS

Cibus has implemented a strategic realignment, reducing its full-time workforce from 242 to approximately 185. The company expects to incur around $0.5 million in one-time costs related to this reduction, primarily due to accrued vacation and severance payments. The majority of these costs will be incurred in the quarter ending December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 9:36 pm

EGPT

EIS

SPY

USO

Egypt's President Sisi and President Biden have agreed to bring humanitarian aid into Gaza in a sustainable manner, according to Reuters. This could potentially impact the performance of certain ETFs.

Portfolio Pulse from Charles Gross

October 18, 2023 | 9:24 pm

DIS

Disney announced that it will reorganize its media and entertainment businesses, which were previously reported as one segment. Starting from the fourth quarter of fiscal 2023, the financial results will be reported in two segments, Entertainment and Sports. This move is aimed at restoring creativity and providing increased transparency.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 9:07 pm

COST

Costco Wholesale Corp (NASDAQ:COST) announced a CEO transition with Craig Jelinek stepping down at the end of the year. President and COO Ron Vachris will take over as president and CEO on Jan. 1, 2024. Jelinek will remain with Costco through April 2024 in an advisory role. The company also declared a quarterly cash dividend of $1.02 per share. Following the announcement, Costco shares were trading lower by 0.64%.

Portfolio Pulse from Adam Eckert

October 18, 2023 | 8:48 pm

NNDM

Nano Dimension has announced additional governance enhancements, including the separation of the Chairman and CEO roles. Yoav Nissan-Cohen has been appointed as the non-executive Chairman.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 8:48 pm

VIAV

Viavi Solutions Inc. (NASDAQ: VIAV) has appointed Ilan Daskal as its new Executive Vice President and Chief Financial Officer, effective from November 7, 2023. Daskal, who previously served as EVP and CFO at Bio-Rad Laboratories, Inc., will report to President and CEO Oleg Khaykin and oversee the global finance organization.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 8:34 pm

XEL

Xcel Energy has been awarded a $100 million grant from the U.S. Department of Energy to enhance grid resiliency and mitigate wildfire threats. The funding will support projects in Colorado, Minnesota, New Mexico, Texas, and Wisconsin, aimed at protecting lives, homes, and forests while reducing power outages. The projects will include adding fire-resistant coatings to wood poles, improving equipment safety, moving high-risk circuits underground, and enhancing vegetation management. The projects are expected to span five years, starting in 2024.

Portfolio Pulse from Happy Mohamed

October 18, 2023 | 8:22 pm