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Corporate Responsibility

C

Citigroup Inc's CEO Jane Fraser is restructuring the bank's upper management tiers to streamline the organization. The bank will abolish its division into two segments and remove the international layer overseeing global regions. The new model will eliminate several management layers and the heads of the five core businesses will report directly to Fraser. The exact number of job cuts resulting from these changes has not been disclosed. Citigroup's shares are up 2.22% at $42.61.

Portfolio Pulse from Vandana Singh

September 13, 2023 | 5:59 pm

META

SPY

Facebook CEO Mark Zuckerberg spoke at an AI forum, discussing the company's advancements and future plans in artificial intelligence. The details of his speech were not provided in the news.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 5:27 pm

MSFT

Microsoft has confirmed that the issues affecting its Teams software have been resolved.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 4:46 pm

HAIN

Hain Celestial Group Inc has announced its Hain Reimagined strategy, aiming to accelerate profitable growth. The company expects organic net sales CAGR of 3%+, adjusted EBITDA CAGR of 10%+, and adjusted EBITDA margin of 12%+ by FY27. The strategy includes a restructuring program to expand operating margins and targets $130 million - $150 million of annualized savings and a $165 million conversion of working capital cash by FY27. The company plans to focus on 5 key markets and three key platforms.

Portfolio Pulse from Shivani Kumaresan

September 13, 2023 | 4:27 pm

MSFT

Microsoft Corporation (NASDAQ:MSFT) is facing cybersecurity concerns over the theft of a consumer signing key used in the Storm-0558 attacks. Elon Musk, co-founder of OpenAI, has expressed concerns about Microsoft's influence over OpenAI. Blackstraw AI has partnered with Microsoft, securing the Solutions Partner Designation for Data & AI and Digital & App Innovation in Microsoft's Cloud Partner Program.

Portfolio Pulse from Mohit Manghnani

September 13, 2023 | 4:11 pm

AGCO

AGCO Corporation has announced the establishment of a 300-acre sustainable test farm, named 'Dakota Smart Farm', in North Dakota. The farm will be part of the Grand Farm Innovation Campus, which promotes innovative research and technology to address agricultural challenges.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 4:06 pm

NOC

Northrop Grumman's CEO has stated that macroeconomic stabilization is beginning to take hold. This was announced during an investor conference.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 3:39 pm

NFLX

Netflix Inc's CFO has stated that building an ad business from scratch is not an easy task, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 3:37 pm

NFLX

During the Bank of America Conference, Netflix Inc's CFO revealed that the company's spin-off accounts are leaning towards ad-free options, with a significant proportion still opting for the ad tier.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 3:28 pm

MRMD

The Benzinga Cannabis Awards will present the Bob Fireman Award For Entrepreneurship in honor of the late Robert 'Bob' Fireman, co-founder of MariMed (OTC:MRMD). Fireman, who recently passed away, was instrumental in the growth of the legal cannabis industry. The award will be presented at the Benzinga Cannabis Capital Conference in Chicago on September 27 and 28.

Portfolio Pulse from Javier Hasse

September 13, 2023 | 3:27 pm