Streetbeat News

Corporate Responsibility

CLW

Clearwater Paper Corporation (CLW) has appointed Sherri Baker as its new Chief Financial Officer (CFO), effective from August 14, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 9:32 pm

ACCO

ACCO Brands has announced that Thomas Tedford will be appointed as the company's CEO, effective from October 1.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:36 pm

AAPL

AMZN

DIS

NFLX

Walt Disney Co has formed a task force to study artificial intelligence (AI) and its applications across the company. The company is looking to develop AI applications in-house and form partnerships with startups. Disney has 11 job openings seeking candidates with AI or machine learning expertise. The company sees AI as crucial to monitor the surging costs of movie and television production. Major entertainment companies, including Netflix, Amazon, and Apple, are also hiring for positions in the AI field.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 7:56 pm

EA

EA Sports is undergoing a realignment that will not place a heavy workload on its staff. The main challenge is coding scheduling models if several conferences don't decide on their format until January.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 3:56 pm

HBI

Activist investor Barington Capital has acquired an undisclosed stake in Hanesbrands Inc. (NYSE:HBI) and is urging the company to make significant changes to its board and enact strategies to reverse the decline in its stock value. Barington is pressing Hanesbrands to appoint new board members with expertise in apparel and manufacturing and is considering the possibility of a new CEO. The firm is also urging Hanesbrands to reduce costs by at least $300 million annually and decrease its inventory levels.

Portfolio Pulse from Michael Cohen

August 08, 2023 | 2:39 pm

BABA

TROW

Alibaba Group Holding Limited (NYSE:BABA) stock is trading lower as it continues its organizational overhaul to unlock shareholder value. Several global investors have disassociated themselves from Ant Group Co's proposed share buyback after the company's valuation lost over 70%. Some money managers, including Fidelity Investments and T. Rowe Price Group, Inc (NASDAQ:TROW), have agreed to sell their shares. Alibaba decided to hold on to its stake in Ant Group, declining to participate in the share buyback plan.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 1:41 pm

HBI

Barington Capital has sent a letter to Hanesbrands (HBI) calling for changes and reiterating its commitment to shareholder value creation. Barington believes Hanesbrands must focus on reducing costs and debt to create long-term shareholder value. Hanesbrands' board and management team have been in discussions with Barington and are open to additional paths to improve performance and create value. The company's Full Potential plan is expected to unlock significant opportunities, which will be discussed in the upcoming Q2 2023 earnings report.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 1:31 pm

CLIR

ClearSign Technologies Corporation (NASDAQ:CLIR) has promoted Brent Hinds to Chief Financial Officer. Hinds, who joined ClearSign in October 2021, has overseen the relocation of the company's head office, a successful equity raise, and improvements to internal systems and accounting controls. Prior to ClearSign, Hinds worked for Enovation Controls, Inc., a subsidiary of Helios Technologies, and Baker Hughes Company.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:48 pm

BKR

Energy technology company Baker Hughes (NASDAQ:BKR) has signed a memorandum of understanding with airport management and operations company Avports to develop, implement and operate onsite microgrid solutions for the airport industry. The collaboration aims to address emissions reduction and the global industry's goal to focus on zero-emission buildings, horizontal airport infrastructure, vehicles and aircraft systems. The partnership will leverage Baker Hughes' energy technology portfolio, including hydrogen-ready turbines and heat recovery solutions, and Avports' focus on airport innovation and sustainability initiatives.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:26 pm

CNSL

Consolidated Communications has initiated a business simplification and cost savings initiative, which is estimated to result in an annualized benefit of more than $30 million starting from the second half of 2023.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:03 pm