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Corporate Responsibility

GT

Goodyear Tire & Rubber Company (NASDAQ:GT) has provided an update on the fire damage at its Debica, Poland facility and the related financial impact on its earnings. The company expects EMEA consumer sales to be negatively affected by $20 million- $25 million in Q3 and $10 million to $15 million in Q4 2023. The company's insurance policy covers $15 million of damage per occurrence, which will reach the deductible limit in Q3 and projects a significant portion of the expense to be reimbursed by the insurance provider. GT also approved a rationalization plan in the Asia Pacific and proposed a reduction of around 700 positions.

Portfolio Pulse from Lekha Gupta

September 29, 2023 | 11:29 am

RIVN

Rivian Automotive Inc's CEO, R.J. Scaringe, recently participated in an interview with two eighth-grade children, discussing the origins of Rivian and the challenges faced in its early days. Scaringe emphasized the importance of optimism and recognizing potential risks in business ventures. He also shared anecdotes about testing vehicle prototypes.

Portfolio Pulse from Anan Ashraf

September 29, 2023 | 11:16 am

META

During an interview at Vox Media’s Code 2023 conference, Linda Yaccarino, the CEO of X (formerly Twitter), inadvertently revealed that the X app was not on her iPhone Home Screen. Instead, apps like Facebook and Instagram, owned by Meta Platforms Inc., were featured prominently. This comes amidst controversies surrounding X, including major layoffs, since Elon Musk's acquisition of the company.

Portfolio Pulse from Ananya Gairola

September 29, 2023 | 10:08 am

TSLA

Elon Musk, CEO of Tesla Inc., visited the US-Mexico border with Rep. Tony Gonzales to assess the immigration situation. Musk expressed his pro-immigrant stance and advocated for an expanded legal immigration system. He warned about the strain on New York City due to the influx of migrants and the potential collapse in social services if action is not taken promptly.

Portfolio Pulse from Benzinga Neuro

September 29, 2023 | 9:25 am

GME

Ryan Cohen, the new CEO of GameStop Corp., has emphasized the need for 'extreme frugality' to ensure the company's survival amid financial turbulence. Cohen, who will not be receiving a salary in his new role, has urged employees to scrutinize every expense and eliminate waste. Cohen's firm, RC Ventures, is GameStop's largest shareholder with a 12.09% stake. GameStop shares closed at $16.84 on Thursday, marking a nearly 9% decline for the year.

Portfolio Pulse from Benzinga Neuro

September 29, 2023 | 5:39 am

AAPL

GOOG

GOOGL

MSFT

Microsoft reportedly discussed selling Bing to Apple as a replacement for Google, but the talks never progressed to an advanced stage. Bing served as the default search engine for Siri and Spotlight from 2013 to 2017, but Apple returned to Google. Microsoft considered a multibillion-dollar investment in 2016 to make Bing the default choice on Apple devices. However, Apple expressed reservations about Bing's capacity to match Google in terms of quality and capabilities.

Portfolio Pulse from Ananya Gairola

September 29, 2023 | 2:05 am

CRLBF

GTBIF

MAR

TCNNF

Industry experts at the Benzinga Cannabis Capital Conference emphasized the importance of professionals with mainstream industry experience in the cannabis sector. Susan Thronson, a board member at Trulieve Cannabis Corp, highlighted the need for adaptability in the rapidly changing cannabis landscape. The panel also discussed the challenges of state-by-state legislation and the need for diversity in the industry.

Portfolio Pulse from Jelena Martinovic

September 28, 2023 | 11:51 pm

ATVI

MSFT

SONY

Jim Ryan, president and CEO of Sony Interactive Entertainment, is set to retire in March 2024. Xbox Chief Phil Spencer paid tribute to Ryan, acknowledging his contributions to the gaming industry. Ryan had been a vocal critic of Microsoft's acquisition of Activision Blizzard, a point of contention between the two executives. Under Ryan's leadership, Sony's PlayStation 5 consistently outsold Microsoft's Xbox Series X and S.

Portfolio Pulse from Franca Quarneti

September 28, 2023 | 11:07 pm

BA

The Boeing Company has agreed to pay $8.1 million to resolve allegations under the False Claims Act, according to the U.S. Justice Department. The allegations were related to Boeing's labor charges on certain defense contracts.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 8:34 pm

IBP

Installed Building Products (IBP) has announced the retirement of its COO, Jay P. Elliott, effective December 31, 2023. Brad A. Wheeler has been named as his successor, effective January 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 8:17 pm