Streetbeat News

Corporate Responsibility

AMZN

BLK

CMG

IBM

Amazon has reminded some of its US employees of the company's policy requiring them to spend at least three days a week in the office. Other companies, including IBM, Zoom, Chipotle, and BlackRock, have also been encouraging employees to spend more time in the office. Despite this, office attendance is still around 30% below pre-pandemic levels.

Portfolio Pulse from Anusuya Lahiri

August 11, 2023 | 6:13 pm

SGML

Sigma Lithium has achieved its planned production targets at its Greentech Industrial Plant in Brazil and is on track to produce 130,000 tonnes of Chemical Grade Triple Zero Green Lithium by December 2023. The company expects to reach an annualized production of 270,000 tonnes by the end of Q3 2023. Sigma Lithium has also made significant progress in its sustainability initiatives and has upgraded its senior leadership. The company ended Q1 2023 with C$92.9 million in cash and cash equivalents.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 5:27 pm

SBUX

A U.S. judge has dismissed a lawsuit against the board of Starbucks (SBUX) by a shareholder activist who opposed the company's diversity, equity, and inclusion policies.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 5:11 pm

LYFT

UBER

Lyft has announced that its app will now feature targeted ads during the booking and ride process. The move is aimed at capitalizing on the company's user base, with the average rider checking their phone nearly nine times during a ride. Advertisers will be able to target riders based on location, payment type, and lifestyle. This comes after Uber, Lyft's main competitor, launched video ads on its apps in June. The introduction of a new revenue stream follows several rounds of layoffs at Lyft.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 4:42 pm

AAPL

ARCE

MSFT

RBLX

WFC

Microsoft is under scrutiny for its role in a government email breach. Roblox has launched a virtual career hub. Despite restrictions by tech giants, ChatGPT's popularity is surging in US workplaces. Occidental subsidiary 1PointFive has received a US DoE grant to develop a direct air capture hub. Wells Fargo faces potential NLRB action over labor law violations. WeWork's stock has gained over 35%, triggering speculation of meme treatment. Arco Platform is going private via a $1.5B merger deal. Telesat's shares are trading higher after Q2 earnings. Ford plans to incorporate new software to boost revenue for commercial trucks and vans.

Portfolio Pulse from Vandana Singh

August 11, 2023 | 2:51 pm

OXY

Occidental Petroleum Corp's subsidiary, 1PointFive, has been selected to receive a grant from the U.S. Department of Energy's Office of Clean Energy Demonstrations for the development of its South Texas Direct Air Capture (DAC) Hub. The hub will house the first DAC plant in the world, which can remove up to 1 million metric tons of CO2 annually. The project is expected to create about 2,500 jobs. OXY shares are trading higher by 1.22% at $64.55.

Portfolio Pulse from Akanksha Bakshi

August 11, 2023 | 1:46 pm

AREC

American Resources Corporation (NASDAQ:AREC) has appointed Tarlis Thompson as the CEO of its subsidiary, American Carbon. Thompson, who has been with the company since 2015, will lead the carbon division. The company aims to focus on monetizing non-core carbon assets through sales or leases, expanding core assets for growth, and producing rare earth and critical mineral concentrate from carbon-based waste stream to be refined by its sister company, ReElement Technologies.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 12:31 pm

SLRX

Salarius Pharmaceuticals announced plans to explore strategic alternatives and implement measures to extend resources, which includes laying off 50% of its staff.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 10:24 am

CVX

Chevron is set to fund a soil carbon sequestration pilot project led by Carbon Sync in Western Australia. The project will involve up to 80,000 hectares of the region's cropping and grazing area. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 10:03 pm

TCNNF

Trulieve Cannabis Corp (OTCQX:TCNNF) is dealing with a financial scandal involving its former CFO Alex D’Amico, who is accused of misusing corporate credit cards and seeking reimbursements for personal expenses, amounting to around $400,000. The company has stated that these improprieties have not significantly impacted its financial statements. Trulieve has appointed Tim Mullany as the new CFO, but he left due to personal reasons, leading to the return of interim CFO Ryan Blust. D’Amico is now the CFO at CytoSorbents, a medical technology company.

Portfolio Pulse from Joana Scopel

August 10, 2023 | 9:19 pm