Streetbeat News

Corporate Responsibility

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

LLY

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

ADTN

Adtran has opened a new Terafactory in Meiningen, Germany, to strengthen its supply chain resilience and accelerate regional technological advancements. The facility, backed by the Thuringian government, aims to create local jobs and reduce resource consumption through advanced automation technologies. The move mirrors Adtran's strategy in the US, where it recently expanded its manufacturing facility in Huntsville, Alabama. The Terafactory will reduce Adtran's dependence on overseas suppliers and stabilize the delivery of its networking solutions.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:22 pm

NVAX

Novavax has announced plans to initiate an additional cost reduction program, aiming to reduce its 2024 expenses by over $300 million.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:08 pm

IPSC

Century Therapeutics has announced the appointment of Brent Pfeiffenberger as its new CEO and board member, effective from December 4, 2023. He will replace the interim CEO Greg Russotti.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 12:20 pm

OPTN

OptiNose, Inc has updated its FY23 net revenue guidance for XHANCE to be between $66.0M-$70.0M, up from the previous range of $64.0M-$70.0M. The company continues to expect the full year 2023 XHANCE average net revenue per prescription to be approximately $200.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 12:15 pm

SHCR

Sharecare has appointed Brent Layton, a former executive at Centene, as its new CEO. The company's founder, Jeff Arnold, will transition to the role of Executive Chairman.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 12:03 pm

WWW

Wolverine World Wide has announced actions to drive its ongoing strategic transformation, which is expected to deliver $215M in annualized savings.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 11:45 am