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Corporate Responsibility

EBIX

Ebix has signed an agreement with its lenders to extend the repayment period of certain obligations under its credit facility until November 15, 2023. The company is pursuing strategic alternatives during this period.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 11:38 am

BABA

Alibaba Group Holding Limited (NYSE:BABA) is undergoing a significant business transformation, including leadership changes within its core e-commerce unit, Taobao and Tmall Group. Trudy Dai Shan has relinquished her roles at several Alibaba subsidiaries to focus on Alibaba's primary e-commerce operations. Alibaba clarified that these changes are routine business registration adjustments at the subsidiary level. The company is also restructuring into six primary groups and spinning off its logistics network, Cainiao, for an IPO in Hong Kong. However, the overall market's performance and delay in Cainiao's listing have tempered the excitement surrounding this move.

Portfolio Pulse from Anusuya Lahiri

October 02, 2023 | 11:37 am

RGEN

Repligen Corporation has appointed Olivier Loeillot as its new President and Chief Commercial Officer. The move is expected to strengthen the company's leadership team and drive its commercial strategy.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 11:36 am

TTE

TotalEnergies has signed a 15-year renewable Power Purchase Agreement (PPA) with Saint-Gobain to supply solar power to Saint-Gobain's 125 industrial sites in North America. The power will be supplied from TotalEnergies' Danish Fields Solar farm in Texas, which is expected to come online in 2024. This is TotalEnergies' second long-term solar power supply agreement and is part of its commitment to offering renewable energy solutions to businesses worldwide.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 10:59 am

BROG

DHR

EURN

EXK

K

SDC

SENS

Several stocks recorded losses in Monday's pre-market trading session. SmileDirectClub filed for bankruptcy, causing its shares to tumble 64.1%. Brooge Energy's shares dipped 9.8% despite reporting a 122% YoY revenue increase. Danaher Corporation's shares declined 9.6% after it completed the separation of Veralto Corporation. Other companies experiencing a decline in shares include Kellogg Company, Euronav NV, Endeavour Silver Corp., and Senseonics Holdings.

Portfolio Pulse from Lisa Levin

October 02, 2023 | 10:03 am

TSLA

The weekend's top stories included Mary Trump's insights on Donald Trump's influence, Vivek Ramaswamy's nanny hunt, an auction of a Tesla Cybertruck, Hunter Biden's legal fees, and a proposal to cut Defense Secretary Lloyd Austin's salary. The auction of a Tesla Cybertruck at the Petersen Automotive Museum has sparked speculation among fans.

Portfolio Pulse from Benzinga Neuro

October 02, 2023 | 9:47 am

EXLS

EXL, a data analytics and digital operations company, is expanding its operations into Dublin, establishing a headquarters for international business. The company plans to hire up to 200 AI and data engineers over the next three years. As part of its expansion, EXL has announced a collaboration with University College Dublin and the Center for Applied AI, facilitated by the Irish government's Human Capital Initiative.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 7:14 am

VTRS

Viatris plans to divest its OTC, Women's Healthcare, and API businesses in a strategic move that could yield up to $6.94B in total gross proceeds. The company will retain rights for Viagra®, Dymista® and select OTC products in certain markets, representing about $1.6B in estimated retained value. The divestitures, expected to close by H1 2024, will result in up to 12 facilities and over 6,000 employees, or about 15% of the company's global workforce, being conveyed. The proceeds will be used for debt paydown to reach a gross leverage target of 3.0x in H1 2024.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 7:07 am

AXP

TSLA

This week in politics saw several notable events. Rep. Alexandria Ocasio-Cortez criticized Rep. Tony Gonzales for allegedly prioritizing a trip with Tesla Inc CEO Elon Musk over his legislative duties. President Joe Biden urged Republicans to act quickly to avert a potential government shutdown. Mike Lindell, CEO of MyPillow, reported that American Express significantly reduced his company's credit line.

Portfolio Pulse from Benzinga Neuro

October 01, 2023 | 12:03 pm

TLLTF

VRNOF

Verano Holdings Corp. and TILT Holdings Inc. are launching campaigns for Breast Cancer Awareness Month. Verano's campaign will span across eleven states, with customers at Zen Leaf and MÜV dispensaries supporting the Lynn Sage Breast Cancer Foundation. TILT's subsidiary, Standard Farms, will donate $5 to the PA Breast Cancer Coalition for each Jupiter Pink Ceramic Mouth Tip vape cartridge sold in October. Florida-based Sunmed | Your CBD Store is also participating, donating 3% of online sales and $1 from specially marked in-store products to the National Breast Cancer Foundation.

Portfolio Pulse from Joana Scopel

October 01, 2023 | 3:07 am