Streetbeat News

Corporate Responsibility

TIO

Tingo Group, Inc (NASDAQ:TIO) addressed concerns raised by Hindenburg Research in a short-seller report, but failed to satisfy the firm. The report flagged inconsistencies and red flags in Tingo's operations, including the CEO's questionable background, unverified business claims, and financial discrepancies. Despite impressive quarterly figures, Tingo's alleged relationships with suppliers and cooperatives, as well as its financial figures, raise skepticism. TIO shares traded lower by 11.2% premarket on the last check Friday.

Portfolio Pulse from Anusuya Lahiri

September 01, 2023 | 2:55 pm

WBA

Walgreens announced that CEO Rosalind Brewer will step down immediately. The company also expects its FY23 adjusted EPS to be at or near the low end of its previously stated range.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 2:54 pm

OLN

Olin Corporation announced that its President, CEO, and Chairman of the Board, Scott Sutton, will step down from his positions in the first half of 2024. Following the announcement, Olin's shares traded lower.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 1:30 pm

AMZN

Amazon.com, Inc (NASDAQ:AMZN) and its board, including Jeff Bezos, are being sued by an institutional investor, the Cleveland Bakers and Teamsters Pension Fund, over launch contracts awarded to Bezos' space company, Blue Origin. The lawsuit alleges that Amazon's board approved the launch agreements for Project Kuiper without considering competitor SpaceX. The suit also claims that Amazon's directors spent less than 40 minutes approving the launch contracts, funneling money to Bezos' struggling rocket company without proper due diligence.

Portfolio Pulse from Anusuya Lahiri

September 01, 2023 | 1:08 pm

WBA

Walgreens Boots Alliance Inc's CEO, Rosalind Brewer, has agreed to step down as CEO and board member as of August 31, 2023. The board has appointed Ginger Graham, the current Lead Independent Director of WBA, as the interim CEO. Walgreens' shares have lost about 47% of their value since March 2021. The company expects FY23 adjusted EPS to be at or near the low end of its previously stated range.

Portfolio Pulse from Vandana Singh

September 01, 2023 | 12:38 pm

AMZN

Amazon's One Medical CEO, Amir Dan Rubin, is stepping down and will be succeeded by COO Trent Green. This comes after Amazon's acquisition of One Medical in 2022. Amazon has been venturing into healthcare with acquisitions like PillPack and the launch of Amazon Clinic. Despite opposition and obstacles, Amazon continues to push into healthcare, launching an affordable healthcare subscription service and pharmacy discounts for diabetes patients.

Portfolio Pulse from Anusuya Lahiri

September 01, 2023 | 12:35 pm

AMD

MSFT

NVDA

Mustafa Suleyman, CEO of Inflection AI, has called for restrictions on the sale of Nvidia chips to buyers who commit to using AI technology ethically. He suggests this could influence global AI practices. The US government has expanded its crackdown on Nvidia and AMD's AI chip exports to regions beyond China. Inflection AI has raised $1.3 billion from Microsoft and Nvidia.

Portfolio Pulse from Anusuya Lahiri

September 01, 2023 | 12:32 pm

WBA

Walgreens Boots has announced that the process to identify a permanent CEO is currently underway.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 11:35 am

YUMC

Yum China Holdings has opened China's first complete renewable energy cold chain logistics center, which will operate on carbon-neutral power. This move is part of the company's commitment to sustainability and reducing its carbon footprint.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 9:10 am

AAPL

Apple Inc. (NASDAQ:AAPL) has explained why it abandoned plans to scan iPhones for child sexual abuse material (CSAM), citing privacy concerns and potential unintended consequences. The company faced backlash from cybersecurity and privacy experts when it announced the plans, leading to their eventual cancellation. Instead, Apple has introduced on-device CSAM detection within apps and launched an API for third-party apps to implement it without impacting user privacy.

Portfolio Pulse from Rounak Jain

September 01, 2023 | 9:10 am