Streetbeat News

Corporate Responsibility

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

NFLX

TSLA

Harvard University is establishing a Study of Psychedelics in Society and Culture, backed by a $16 million donation from a former Tesla employee and Valor Equity Partners CEO, Antonio Gracias, through his Family Foundation. The program aims to transform the psychedelics research landscape and will approach the field from various humanistic and social scientific viewpoints. The donation will fund several activities at Harvard, including an endowed professorship, fellowships with UC Berkeley, research and training support, and the organization of seminars and public events.

Portfolio Pulse from Lara Goldstein

October 18, 2023 | 8:07 pm

ALE

The U.S. Department of Energy has awarded a $50 million grant to Minnesota Power, a division of ALLETE (NYSE:ALE), to modernize its high-voltage direct current (HVDC) transmission system. The grant will support the HVDC Terminal Expansion Capability Project, which aims to increase the reliability and resilience of the regional grid and prepare it for future energy needs. The project is part of Minnesota Power's strategy to support federal and state energy policy goals, including Minnesota's carbon-free by 2040 legislation.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 6:58 pm

F

Ford Motor Company (NYSE:F) has announced a series of organizational changes as part of its Ford+ growth plan. Kumar Galhotra, former head of Ford Blue, becomes COO and will lead Ford's global industrial system. Doug Field continues as chief EV digital and design officer. The changes aim to improve financial performance and investments in disruptive technologies. The announcement follows a warning from Bill Ford about the potential impact of the ongoing strike on the American automotive industry. Ford shares are trading lower by 1.70% to $11.84.

Portfolio Pulse from Nabaparna Bhattacharya

October 18, 2023 | 4:30 pm