Streetbeat News

Corporate Responsibility

UTZ

Utz Brands Inc (NYSE:UTZ) has announced several network optimization initiatives to drive long-term volume growth and reduce costs. The company plans to simplify its plant network and streamline its operating structure by consolidating facilities. It has divested its manufacturing plant in Bluffton, Indiana, and will cease operations at its lowest-volume manufacturing plant in Hanover, Pennsylvania, in Q1 FY24. UTZ also plans to sell its Louisiana and Alabama plants. The company expects these changes to boost net sales averages in its remaining plants and reduce fixed overhead costs.

Portfolio Pulse from Lekha Gupta

September 29, 2023 | 4:16 pm

AMZN

CI

CVS

WBA

WMT

Walgreens Boots Alliance Inc. is reportedly considering appointing Tim Wentworth, a former executive at Cigna Group, as its next CEO. This comes after the abrupt departure of Rosalind Brewer. Walgreens is facing competition from Amazon.com and Walmart Inc, and is lagging behind its main competitor, CVS Health Corp. Walgreens expects FY23 adjusted EPS to be at or near the low end of its previously stated range. WBA shares are up 6.70% at $22.31 on the last check Friday.

Portfolio Pulse from Vandana Singh

September 29, 2023 | 3:51 pm

USB

U.S. Bank has received a $55 million allocation in New Markets Tax Credit (NMTC), which is aimed at stimulating investment and economic growth in low-income urban and rural communities. This allocation is expected to help the bank further its community development goals.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 3:34 pm

WBA

Walgreens Boots Alliance Inc. is reportedly considering former Cigna Group executive Tim Wentworth for its next CEO position. The decision is not final and Wentworth may not end up in the role.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 2:17 pm

C

Citigroup CEO Jane Fraser, in a live interview on CNBC, stated that the bank's reorganization is focused on clients and unlocking value.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 2:15 pm

CRLBF

CURLF

GTBIF

Workers at five Sunnyside Dispensaries, a subsidiary of Cresco Labs Inc., have reached tentative agreements for first union contracts with Teamsters Local 777. The contracts include significant improvements such as an end to at-will employment, the right to representation during disciplinary matters, and 15% wage increases over the agreement's lifetime. Meanwhile, employees of Dragonfly Wellness, a medical marijuana dispensary in Salt Lake City, voted to join the United Food and Commercial Workers (UFCW).

Portfolio Pulse from Jelena Martinovic

September 29, 2023 | 1:05 pm

NAAS

NaaS Technology Inc (NASDAQ:NAAS) has partnered with Shenzhen ZSY Financial Services Co Ltd to promote financial innovation in the energy sector. The collaboration will focus on new energy industry financial innovation and new energy assets securitization. The partnership aims to integrate new energy business and financial services to boost a low-carbon energy industry. NaaS' year-to-date fundraising has reached $91 million. Its parent company, NewLink, has partnered with China Construction Bank (CCB) for integrated financial services support.

Portfolio Pulse from Shivani Kumaresan

September 29, 2023 | 12:52 pm

ELY

A fire broke out at the Launch Technologies golf ball manufacturing plant in Pintung County, Taiwan last Friday. The plant is owned by Topgolf Callaway Brands Corp.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 12:22 pm

XRAY

Dentsply Sirona has announced the appointment of Gregory Lucier as Chairman of the Board and as a member of the Corporate Governance and Nominating Committee, effective from January 1, 2024. Eric Brandt, who has served as Chairman for six years, will step down from his role at the end of the year but will continue to serve on the Board and the Committee.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 12:09 pm

ALB

Albemarle Corp. has agreed to pay the SEC over $103 million to settle violations of the Foreign Corrupt Practices Act. The settlement comes after an investigation into the company's practices overseas.

Portfolio Pulse from Charles Gross

September 29, 2023 | 12:00 pm