Streetbeat News

Corporate Responsibility

HRI

Herc Holdings Inc. reported Q3 FY23 sales growth of 22% YoY to $908 million, beating analyst consensus. However, its adjusted EPS of $4.00 missed the consensus of $4.15. The company also announced it is exploring strategic alternatives for its Cinelease studio entertainment business due to changing industry dynamics. Herc narrowed its adjusted EBITDA outlook for FY23. Following the announcement, HRI shares fell by 2.31%.

Portfolio Pulse from Nabaparna Bhattacharya

October 24, 2023 | 1:49 pm

KO

Coca-Cola's CEO has commented on the potential impact of weight-loss drugs on the company's consumption rates, stating that the company is closely monitoring the situation. However, he also noted that there are varying opinions on what, if any, impact these drugs will have.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 1:15 pm

INVZ

Innoviz Technologies Ltd. (NASDAQ: INVZ) has provided an operational update amidst the current conflict in Israel, stating that it has not experienced any immediate material operational or financial impact. The company reiterated its 2023 financial targets, including a ramp in revenue expected in the second half of the year. Innoviz also announced details for its Q3 2023 earnings call, which will take place on November 8, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 1:05 pm

STLA

Stellantis N.V. (STLA) and Orano have signed a memorandum of understanding to establish a joint venture for recycling end-of-life electric vehicle batteries and scrap from gigafactories in Europe and North America. The partnership aims to support Stellantis' sustainable management of battery electric vehicle materials and its strategic plan to become a carbon net zero company by 2038. The joint venture will use Orano's innovative, low-carbon technology to recover all materials from lithium-ion batteries and manufacture new cathode materials. The venture is expected to start production in the first part of 2026.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 12:22 pm

SWIM

Latham Group, Inc. (NASDAQ:SWIM) has announced the appointment of Oliver Gloe as Chief Financial Officer (CFO), effective November 13, 2023. Gloe, who has over 20 years of experience leading finance teams within global manufacturing companies, will join Latham on October 30, 2023 as Vice President, Finance before assuming the CFO role. He will oversee Latham's finance, strategic planning, investor relations, treasury, tax and accounting reporting functions and report to Latham President and CEO, Scott Rajeski.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 12:15 pm

TSLA

Tesla's former CFO Zachary Kirkhorn may have been fired rather than resigned, according to Future Fund Managing Partner and Tesla investor Gary Black. This speculation is based on a severance agreement found in Tesla's third-quarter earnings report. The severance agreement suggests termination rather than resignation. The reason for the potential firing could be disagreement on pricing philosophy, as Tesla has been aggressively cutting prices, leading to margin erosion and a double miss in the third quarter.

Portfolio Pulse from Shanthi Rexaline

October 24, 2023 | 11:52 am

HTZ

Hertz has appointed Justin Keppy as Executive Vice President and COO, effective from November 15, 2023. In his new role, Keppy will be responsible for managing the day-to-day operations of the company's global business.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:38 am

SABS

SAB Biotherapeutics has appointed Michael G. King Jr. as its new Chief Financial Officer.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:35 am

MSFT

Vivian Schiller, former global news chair of Twitter and executive director of Aspen Digital, criticized Elon Musk's X (formerly Twitter) for spreading misinformation during the Israel-Hamas conflict. She also commented on the misuse of verified checkmarks on X and a recent incident involving Microsoft's LinkedIn where a website scraped information to identify employees expressing anti-Israel opinions. An alarming report by News Guard found that 74% of the most circulated posts containing misinformation on X were boosted by users with blue checkmarks.

Portfolio Pulse from Ananya Gairola

October 24, 2023 | 10:16 am

TSLA

Tesla, Inc. vehicles have been reported as the least stolen cars in the United States, largely due to the standard GPS tracking feature in all Tesla cars. The data comes from a report by the Highway Loss Data Institute, which analyzed over 40 million vehicles and 18,000 theft claims. The report revealed that Tesla cars, specifically the Model 3 and Model Y, topped the list of least stolen vehicles.

Portfolio Pulse from Benzinga Neuro

October 24, 2023 | 6:27 am