Streetbeat News

Corporate Responsibility

HIPO

A group of shareholders owning 2.5% of Hippo's stock is urging the board to initiate a strategic review. The group believes that the company's current strategy is not maximizing shareholder value.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:25 pm

XLV

Daniel J. Loepp, the President and CEO of Blue Cross Blue Shield of Michigan, has announced his retirement at the end of 2024 after over 20 years of service.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:23 pm

INSG

Inseego Corp. has appointed Steven Gatoff as its new Chief Financial Officer. The company expects that Gatoff's extensive experience in financial management will contribute to its growth and profitability.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:11 pm

GLASF

Oaksterdam University and cannabis brand REEFORM, a collaboration with Glass House Brands (OTC:GLASF), have partnered to offer scholarships for previously incarcerated individuals. The scholarships aim to rehabilitate those affected by Cannabis Prohibition and the War on Drugs. REEFORM was founded by social justice advocate Weldon Angelos, who spent over a decade in prison for a non-violent cannabis offense. The scholarships will cover tuition fees for courses at Oaksterdam University and will be awarded quarterly.

Portfolio Pulse from Javier Hasse

September 14, 2023 | 7:15 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) shares are recovering after a significant drop due to multiple fires involving the company's electric vehicles. The company's CEO, Steve Girsky, addressed these issues and shared an optimistic view of Nikola's future during a recent webcast. Girsky highlighted the company's hydrogen fuel cell vehicles and infrastructure ambitions, which are unaffected by the battery-electric vehicle recall. He also emphasized strong consumer demand and the impact of state and federal EV rebates and incentive programs.

Portfolio Pulse from Erica Kollmann

September 14, 2023 | 4:02 pm

BAYRY

Bayer's new CEO, Werner Baumann, plans to cut management jobs as part of a larger overhaul of the company. This move is seen as a prelude to a more comprehensive restructuring of the company.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 3:59 pm

F

GM

STLA

The United Auto Workers (UAW) union has announced a new strike strategy, which will target an unspecified number of facilities for a walkout at midnight. This action is in response to Ford (F), General Motors (GM), and Stellantis (STLA) potentially failing to offer fair contracts to 150,000 autoworkers.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 3:23 pm

ACN

GOOG

MSFT

NVDA

Ernst & Young (EY) has announced a $1.4 billion investment into artificial intelligence (AI) and the launch of its large language model, EY.ai EYQ. The firm also plans to provide AI training to its 400,000 employees. This investment exceeds EY's total AI expenditure over the past five years. Other consulting firms such as KPMG, Accenture Plc, PricewaterhouseCoopers, and Deloitte have also announced significant investments in AI. EY's new platform aims to address privacy and data security issues associated with large language models.

Portfolio Pulse from Anusuya Lahiri

September 14, 2023 | 3:21 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) has announced it will no longer fund BioSteel Sports Nutrition Inc., a business unit that represented about 60% of the company's Q1 FY2024 adjusted EBITDA loss. The company is exploring strategic alternatives for BioSteel, including a potential sale. This move is part of Canopy's strategy to streamline operations and cut costs.

Portfolio Pulse from Jelena Martinovic

September 14, 2023 | 3:05 pm

ETSY

Citron Research has tweeted about Etsy's successful efforts to combat counterfeiting, which had previously led to a 50% dip in the company's stock. Citron had flagged these concerns earlier in the year.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 2:05 pm