Streetbeat News

Corporate Responsibility

AAPL

CVX

GOOG

HOFT

ILMN

LLY

PVH

SPOT

STLA

TWTR

Elon Musk's acquisition of Twitter (now X) has reportedly lost 90% of its value. General Motors' wage offer has been branded as 'insulting' by UAW President Shawn Fain. Stellantis has opened its first Battery Technology Center in Italy. Kroger and Albertsons have agreed to sell select assets to C&S Wholesale Grocers for $1.9 billion. Kroger also reported a Q2 sales decline and reached a settlement for opioid claims. UK's NICE has endorsed Eli Lilly's diabetes medication, Mounjaro. Hooker Furnishings reported a Q2 sales decline. PVH Corp's subsidiary, Calvin Klein, has signed a licensing deal with Revman. Apple has responded to the discovery of zero-day exploits. Workers at Chevron's LNG projects in Australia have gone on strike. Zoom has engaged with regulators over Microsoft's perceived anticompetitive behavior. Google has cut ties with Joshua Wright over sexual harassment allegations. Goldman Sachs is preparing for another round of job cuts. Spotify plans to offer free audiobooks to its paying subscribers. Carl Icahn has shown support for Illumina's new CEO.

Portfolio Pulse from Vandana Singh

September 08, 2023 | 2:32 pm

AAPL

Apple Inc has promptly responded to the discovery of zero-day exploits used against a member of a civil society organization in Washington, D.C. The exploits were uncovered by Citizen Lab, an internet watchdog group. Apple's recent security update patches these vulnerabilities, ensuring the protection of iPhone users. The zero-day exploits were part of an exploit chain designed to deliver NSO Group's notorious Pegasus malware. The incident highlights the role of civil society organizations as early warning systems for global cybersecurity.

Portfolio Pulse from Anusuya Lahiri

September 08, 2023 | 2:08 pm

BBBY

JPM

NVDA

TSLA

JPMorgan is reportedly working on a blockchain payment system, which has led to a spike in Bitcoin, Ethereum, and Dogecoin. Tesla's Supercharger network has expanded to 50,000 stations worldwide. NVIDIA and Reliance Industries are collaborating to create AI infrastructure. Goldman Sachs is planning further workforce reductions after earlier layoffs. Ryan Cohen is reportedly under SEC investigation over his trades in Bed Bath & Beyond.

Portfolio Pulse from Akanksha Bakshi

September 08, 2023 | 1:34 pm

REPYY

Repsol S.A. (OTC:REPYY) has acquired renewable energy platform ConnectGen for $768 million, marking its entry into the U.S. onshore wind market. The acquisition is part of Repsol's strategy to strengthen its position in the renewable energy business. The company plans to allocate 35% of its investments to low-carbon projects by 2023. The deal will add an onshore wind power growth platform in the U.S. to Repsol's portfolio, supporting its target of 20,000 MW of installed capacity by 2030.

Portfolio Pulse from Nabaparna Bhattacharya

September 08, 2023 | 11:42 am

STLA

Stellantis executive has announced the company's commitment to building 6 gigafactories globally, with plans for more in the future.

Portfolio Pulse from Charles Gross

September 08, 2023 | 10:23 am

BTCUSD

RIOT

Riot Platforms Inc. (NASDAQ:RIOT) received $31.7 million in energy credits from the Electric Reliability Council of Texas (ERCOT) after voluntarily reducing its energy consumption during a heatwave. The value of these credits exceeded the worth of the 333 Bitcoins mined by Riot in August, which was approximately $8.9 million. Despite net losses of over $500 million in 2022, Riot's stock has increased by around 230% in 2023 due to Bitcoin's recovery.

Portfolio Pulse from Mehab Qureshi

September 08, 2023 | 7:51 am

AMZN

Former Amazon executive Dave Clark, known for his public clash with Senator Bernie Sanders over unionization, has resigned from his role as CEO of Flexport. Clark is reportedly considering a political career, potentially running for the Texas governorship in 2026. Clark's tenure at Amazon and his stance on unions could become significant issues in his political journey.

Portfolio Pulse from Chris Katje

September 07, 2023 | 9:40 pm

BUD

Blaze Life Holdings (BLH) has appointed Anheuser-Busch InBev SA/NV (NYSE:BUD) veteran, Shreyas Balakrishnan, as its new CEO. Balakrishnan has nearly two decades of experience in brewing and distillery operations, distribution, sales, and M&A. His leadership led to Cutwater Spirits becoming the #1 RTD Cocktail Brand in the US. BLH aims to model its distribution on the regulated alcohol industry's three-tier system.

Portfolio Pulse from Joana Scopel

September 07, 2023 | 9:01 pm

SEM

Select Medical Holdings Corporation (NYSE:SEM) has announced 12 executive management appointments, effective from October 1, 2023. John Saich and Thomas Mullin have been promoted to co-presidents, and Michael Malatesta has been named executive vice president and chief financial officer. The company aims to drive high-performance momentum and create a continuous trajectory for long-term success.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 8:33 pm

CVS

CVS Health Corporation has announced new responsibilities for several members of its executive leadership team. Shawn Guertin will continue as CFO and is now President of Health Services. Prem Shah will continue as Chief Pharmacy Officer and is now the sole President of Pharmacy and Consumer Wellness. Michelle Peluso, as Chief Customer and Experience Officer, will expand her focus to improve patient experience across all care delivery and customer service channels. Brian Kane joins CVS Health as President of Aetna.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 8:32 pm