Streetbeat News

Corporate Responsibility

RAD

Rite Aid Corporation (NYSE:RAD) has initiated a voluntary Chapter 11 bankruptcy process to implement a financial restructuring plan. The company has reached an agreement with its senior secured noteholders and has received a commitment for $3.45 billion in new financing. Rite Aid has also appointed Jeffrey S. Stein as CEO and Director, succeeding interim CEO Elizabeth Burr.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 7:27 am

ERJ

HON

Honeywell (HON) has successfully tested an engine using 100% sustainable aviation fuel on an Embraer (ERJ) business jet. This marks a significant step towards sustainable aviation.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 6:52 am

AMZN

Amazon.com, Inc (NASDAQ: AMZN) posted a job listing for a 'director of security engineering' role associated with 'Project Panda', which was quickly addressed as an error by a company spokesperson. The term 'opportunistic' in the listing led to speculations about Amazon's recruitment strategies. The company has been under scrutiny for its employment decisions, especially after laying off 27,000 employees over the past year due to over-hiring during the post-pandemic boom.

Portfolio Pulse from Bibhu Pattnaik

October 15, 2023 | 1:56 pm

AAPL

TSLA

This week, Apple Inc. (NASDAQ: AAPL) made headlines with several developments. California Governor Gavin Newsom signed the Right to Repair Act into law, backed by Apple, allowing device owners to repair their devices at third-party repair shops. Supply chain analyst Ming-Chi Kuo predicted that the 2024 Apple Watch may lack innovative features. Apple might introduce a new technology for its mainboard in the iPhone 17, potentially providing enhanced internal space and cost-saving benefits. Tesla Inc. vehicle owners are using the new iPhone 15 Pro’s “action button” as a car key substitute. Apple Inc. CEO Tim Cook and Tesla Inc. CEO Elon Musk did not make the top spot in the list of America's most popular CEOs.

Portfolio Pulse from Benzinga Neuro

October 15, 2023 | 1:28 pm

FB

Meta Platforms Inc. (NASDAQ:FB) has removed over 795,000 pieces of content related to the Israel-Hamas conflict, following the European Union's warnings about the spread of disinformation. The company's content removal rate increased sevenfold in the three days after the Hamas attack on Israel on October 7. Meta is also lowering the threshold for restricting the recommendation of violating content and reducing the visibility of potentially controversial comments on Facebook and Instagram.

Portfolio Pulse from Nabaparna Bhattacharya

October 14, 2023 | 8:20 pm

TSLA

President Joe Biden has announced $7 billion in funding for hydrogen hubs to develop clean hydrogen as an alternate energy source. This move counters Tesla Inc. CEO Elon Musk's skepticism about hydrogen as an energy source for vehicles. The Biden administration has selected seven regional clean hydrogen hubs to receive the funding, which is expected to catalyze over $40 billion in private investment and create tens of thousands of jobs.

Portfolio Pulse from Anan Ashraf

October 14, 2023 | 1:01 pm

ITX

The article draws parallels between the fast fashion and cannabis industries, highlighting their shared traits of adaptability, data-driven design, and mass production. It mentions Zara (NYSE:ITX) and H&M (STO: HM-B) as examples of fast fashion companies. The article also discusses the environmental impacts of both industries, and the need for sustainability and responsible practices.

Portfolio Pulse from Nicolás Jose Rodriguez

October 13, 2023 | 9:13 pm

LUV

Material Specialists at Southwest Airlines have ratified a Teamster contract. The agreement covers over 500 workers who provide supplies and other support services to the fleet maintenance team.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:44 pm

BCS

EWC

Barclays has appointed Geoffrey Belsher as Chairman and Country Chief Executive Officer for Canada, effective from October 16. Belsher, who has over 25 years of investment banking experience, will be based in Toronto and report to Richard Haworth, CEO of the Americas, and Cathal Deasy and Taylor Wright, Global Co-Heads of Investment Banking. Belsher previously worked as Managing Director and Global Co-Head of Wholesale Banking for CIBC in Toronto from 2009 to 2015.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 7:29 pm

SNDL

SunStream Bancorp Inc. has announced the acquisition of certain assets of Greenpeak Industries Inc. and affiliated entities doing business as Skymint. The assets were acquired by Skymint Acquisition Co., a new entity of Tropics L.P., which is fully owned by an affiliate of Sunstream, a joint venture sponsored by SNDL Inc. (NASDAQ:SNDL). The acquisition is part of Skymint's ongoing restructuring and is expected to close in the first quarter of 2024.

Portfolio Pulse from Jelena Martinovic

October 13, 2023 | 4:38 pm