Streetbeat News

Corporate Responsibility

WMT

Walmart Inc. (NYSE:WMT) has announced reduced operating hours at five stores in Atlanta, a collaboration with the Canadian government to stabilize food prices, and is facing a patent infringement lawsuit from RavenWhite Licensing. The reduced hours could impact Walmart's financial performance, while the collaboration could affect its competitive positioning in Canada. The lawsuit alleges that Walmart's website and advertising program infringe on RavenWhite's patents.

Portfolio Pulse from Mohit Manghnani

September 19, 2023 | 9:01 pm

HPE

Hewlett Packard Enterprise (HPE) has announced the creation of a new hybrid cloud business unit, which will be led by HPE's Chief Technology Officer, Fidelma Russo. The move is part of HPE's strategy to strengthen its position in the hybrid cloud market.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:35 pm

HPE

Hewlett Packard Enterprise (HPE) has announced a planned segment re-alignment, which is expected to become effective on November 1, 2023. The company's organizational structure will remain unchanged for the rest of fiscal 2023, with the CEO continuing to evaluate the business under the existing structure. The new segment structure will be reported from the first quarter of fiscal 2024.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:25 pm

BXP

Enel North America has signed a power purchase agreement with BXP, the largest publicly traded developer, owner, and manager of premier workplaces in the United States, for a 21-megawatt portion of the Estonian solar project under construction in Texas. The 202 MW solar project, paired with a 104 MW battery system, is expected to come online in late 2024. The agreement builds on a longstanding relationship between Enel and BXP for advanced energy solutions.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:17 pm

TSHA

Taysha Gene Therapies is planning to pursue external strategic options for its TSHA-120 program, which is expected to extend its cash runway into the fourth quarter of 2025. This move is aimed at supporting the continued clinical development of TSHA-102 in Rett syndrome.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 8:04 pm

PINS

Pinterest, Inc. (NYSE:PINS) has appointed Scott Schenkel, former CFO and Interim CEO of eBay, to its Board of Directors. Schenkel has a strong background in finance and ecommerce, having served in leadership roles at eBay and General Electric. He also currently serves on the Board of Directors at NetApp and Forter.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 7:56 pm

KNTE

Kinnate Biopharma Inc (NASDAQ:KNTE) has prioritized its exarafenib combination, KIN-8741, and discovery efforts around its CDK4 selective program, while also implementing a corporate restructuring that reduces its workforce by 70%. Piper Sandler downgraded the stock from Overweight to Neutral with a price target of $4, down from $20. Wedbush also downgraded the stock to Neutral and cut the price target from $14 to $2. Despite these setbacks, William Blair maintains an Outperform rating, citing the company's promising platform for small-molecule kinase inhibitors in precision oncology.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 6:20 pm

AMZN

Amazon's hardware division, Lab126, responsible for devices like Kindle and Echo, is facing staff cutbacks, low morale, and a pipeline of devices that may not prove successful. The division has seen mass layoffs and key executive departures, including leader Dave Limp. Amazon is expected to launch refreshed versions of existing products and new devices, including a carbon monoxide detector and a household energy consumption monitor with Alexa built into them. However, Amazon's attempts to monetize Alexa have not been successful, and the company faces competition from AI chatbots from Google and startups like OpenAI. Amazon's CEO, Andy Jassy, has been reducing the company's headcount, resulting in 27,000 job cuts across Amazon.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 5:23 pm

AMZN

Amazon is hiring 250,000 employees across the U.S., including 30,000 in California, for full-time, seasonal, and part-time roles across its operations network. The company has also introduced new benefits, including an emergency savings program and a financial assistance pilot program. Amazon has invested $142 billion in California since 2010, creating over 160,000 direct jobs and supporting an additional 311,000 indirect jobs. The company has also opened over 50 new fulfillment centers, delivery stations, and same-day delivery sites in the U.S. this year.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 4:03 pm

INTC

Intel CEO Patrick P. Gelsinger led the Intel Innovations Event, where he likely discussed the company's latest developments and strategies.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 3:35 pm