Streetbeat News

Corporate Responsibility

AAP

Advance Auto Parts reported mixed Q2 earnings, hired a new CEO, and initiated an operational review. This has led to an increase in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:45 am

AAP

Advance Auto Parts (AAP) has initiated an operational and strategic review to improve execution across the business and increase shareholder value. The company has also announced the appointment of Shane O'Kelly as its next CEO, who brings extensive operational and supply chain experience.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:36 am

AAP

Advance Auto Parts has announced the appointment of Shane O'Kelly as its new President & CEO, effective from September 11, 2023. He will succeed Tom Greco, who has held the position since April 2016.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:32 am

DOGEUSD

META

Elon Musk, owner of X (formerly Twitter), has highlighted the importance of 'truth' and Community Notes in a comparison post against Instagram, owned by Meta Platforms Inc. (NASDAQ:META). A graphic designer at Dogecoin (CRYPTO: DOGE) raised concerns about a misleading sponsored ad on X, which was also promoted on Instagram without fact verification. Musk responded positively to the ad being flagged on X, emphasizing the importance of truth in advertising. This incident adds to the ongoing rivalry between Musk and Mark Zuckerberg, CEO of Meta.

Portfolio Pulse from Ananya Gairola

August 23, 2023 | 6:09 am

TSLA

Tesla Inc. (NASDAQ:TSLA) has been spending approximately $20,000 annually on multiple accounts on Elon Musk's social media platform X, formerly known as Twitter. This expenditure is raising questions about potential conflicts of interest as Tesla's CEO, Elon Musk, now owns the platform.

Portfolio Pulse from Benzinga Neuro

August 23, 2023 | 2:42 am

APLS

Apellis Pharmaceuticals has recommended that practitioners immediately discontinue the use of any injection kits that contain a 19-gauge filter needle and instead use injection kits with an 18-gauge filter needle.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 8:48 pm

APLS

Apellis Pharmaceuticals has updated on its SYFOVRE (Pegcetacoplan Injection) kits, recommending the use of kits with an 18-gauge filter needle following rare safety events. The company is working to ensure the safety and efficacy of its products.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 8:47 pm

BX

SUM

Summit Materials has announced a significant step to streamline its company structure, eliminating an estimated $256M in Tax Receivable Agreement (TRA) payments payable to Blackstone. This move is expected to improve the company's financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 8:17 pm

X

Global consulting firm McKinsey & Company is facing a lawsuit filed by Jay Alix, founder of rival firm AlixPartners. The lawsuit alleges that McKinsey concealed conflicts of interest in bankruptcy cases to gain an advantage in offering advisory services for corporate restructurings. The lawsuit also implicates U.S. Steel (NYSE:X), alleging that McKinsey failed to disclose its relationship with the company in the bankruptcy case of Alpha Natural Resources. The lawsuit is expected to proceed to the discovery stage.

Portfolio Pulse from Vandana Singh

August 22, 2023 | 7:32 pm

HE

Hawaiian Electric Industries Inc is seeking advice from various experts, including Guggenheim Securities, to maintain its financial health.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 6:42 pm