Streetbeat News

Corporate Responsibility

Hawaiian Electric (HE) has started restoration work in Lahaina, as requested by the Maui Emergency Operations Center. The temporary infrastructure being set up does not rule out the possibility of underground utilities in the future.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 8:24 pm

PNM

The New Mexico Public Regulation Commission (NMPRC) has approved a unanimous settlement agreement between Public Service Company of New Mexico (PNM) and parties involved in the retirement of the San Juan coal plant. The agreement will provide $115 million in rate credits to customers over a one-year period.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 8:22 pm

RBLX

Roblox has downsized its talent acquisition team by 30 employees as part of its cost-cutting measures. The company is shifting its focus from expansion to aligning cash compensation growth with bookings growth. Despite a significant increase in daily active users and developer compensation, average bookings per user have decreased and the company remains unprofitable.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 6:36 pm

UPS

The U.S. Justice Department has reached an agreement with United Parcel Service (UPS) to resolve immigration-related employment discrimination claims. UPS will pay nearly $100,000 in back pay, front pay, and associated benefits to the affected worker.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 5:42 pm

CELH

NVO

A short report by Edwin Dorsey's 'The Bear Cave' suggests that Coca-Cola (KO) is facing challenges from emerging brands, changing consumer preferences, and the impact of weight loss drugs. The report highlights the success of new entrants like Prime and Celsius Holdings (CELH), which have leveraged modern advertising platforms and influencer endorsements. It also points to a decline in sales for Coca-Cola's Dasani brand and potential issues with the company's diversity initiatives. The report suggests that weight loss drugs like Novo Nordisk's (NVO) Wegovy and Ozempic could further impact Coca-Cola's market share.

Portfolio Pulse from AJ Fabino

September 21, 2023 | 4:19 pm

CMCSA

Comcast Corporation has appointed Rocky Gupta as its Executive Vice President and Treasurer. Gupta, who previously led the treasury and finance organizations at General Motors, will oversee Comcast's relationships with financial institutions and manage its capital allocation, credit-related matters, and investment management activities. He will report to Jason S. Armstrong, CFO of Comcast Corporation.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 2:24 pm

FOXA

NWSA

Rupert Murdoch is set to step down as chairman of Fox Corp (NASDAQ:FOXA) and News Corp (NASDAQ:NWSA) in mid-November. His son, Lachlan Murdoch, will take over as sole chair of News Corp and continue as executive chair and CEO of Fox. The announcement comes after Fox agreed to pay a $787.5-million settlement to Dominion Voting Systems in April and a year ahead of the 2024 presidential election.

Portfolio Pulse from Adam Eckert

September 21, 2023 | 2:14 pm

ARM

AVGO

CART

CSCO

DRI

FDS

GOOG

GOOGL

KBH

KDP

KHC

MRVL

NIO

PARA

SBUX

SPLK

TOSBF

UBS

WBD

Weekly jobless claims fell to 201,000, below estimates. Cisco Systems is acquiring Splunk for $28 billion, causing a rally in Splunk's stock and a fall in Cisco's. Starbucks announced a 7.5% increase in its quarterly dividend. Keurig Dr Pepper appointed Tim Cofer as COO, effective Nov.6, 2023. Kraft Heinz recalled 83,800 cases of Kraft Singles due to choking hazard. Google is replacing Broadcom with Marvell for AI chips. Nio launched a smartphone to compete in China's EV market. Toshiba is going private after a successful $14 billion tender offer from JIP. Unilever is selling some of its non-core beauty brands. UBS terminated 70% of Credit Suisse's HK research staff. VinFast plans to ship EVs to Europe by end of 2023. Paramount Global and Warner Bros. Discovery stocks rose amid reports of a potential end to the Hollywood writers' strike. Arm Holdings and Instacart stocks declined, raising concerns about tech IPOs. The DOJ limited access to key evidence in its antitrust case against Google. Kia launched its cheapest EV in South Korea. KB Home reported a Q3 sales decline of 13.9% YoY but beat estimates. Darden Restaurants reported Q1 sales growth of 11.6% YoY, beating estimates. FactSet Research reported Q4 sales growth of 7.3% YoY, slightly beating estimates.

Portfolio Pulse from Vandana Singh

September 21, 2023 | 2:02 pm

WIT

Wipro Limited (NYSE:WIT) has appointed Aparna C Iyer as its new Chief Financial Officer, effective immediately. She succeeds Jatin Dalal, who is stepping down to pursue other career opportunities. Aparna has been with Wipro for 20 years and has held several finance roles. She will report to CEO Thierry Delaporte and join the Wipro Executive Board.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 1:28 pm

SGML

Sigma Lithium Corporation (NASDAQ:SGML) has announced the shipment of 22,500 tonnes of Triple Zero Green Lithium to Glencore, as part of their joint effort to build a sustainable global lithium supply chain. The company is on track to produce 130,000 tonnes of Triple Zero Green Lithium in 2023. Sigma Lithium has also announced a collaboration with Glencore to create a low carbon, environmentally and socially sustainable global lithium supply chain for electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 1:25 pm