Streetbeat News

Corporate Responsibility

AREC

American Resources Corporation (NASDAQ:AREC) has entered into a binding letter of intent to sell assets associated with its Deane Mining Complex. The deal represents a $20.6 million enterprise value, payable in upfront cash, ongoing quarterly cash payments, and the assumption of environmental reclamation bonds. The sale is part of the company's strategy to unlock shareholder value by selling non-core assets.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:19 pm

WKHS

Workhorse Group Inc. (NASDAQ:WKHS) CEO, Rick Dauch, has sent a letter to stockholders urging them to vote in favor of a proposal to increase the number of authorized shares of Workhorse common stock. The company has also launched a website for the upcoming Special Meeting, providing information on the proposal and voting process. The move is part of the company's strategy to secure necessary financial resources for its next phase of production and profitable growth.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:19 pm

WKSP

Worksport has opened a new manufacturing facility in West Seneca, New York, which will also serve as the company's head office. The facility has begun production of the company's patented truck bed covers. The company also plans to assemble its SOLIS solar-integrated light truck bed covers and the COR portable energy system at this facility once the latter completes its R&D phase. The company has also relocated its corporate headquarters from Ontario, Canada to the U.S.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:17 pm

WMB

Williams (NYSE:WMB) has signed a 3-year agreement with Chattanooga Gas, a subsidiary of Southern Company Gas, to provide certified, low-emissions NextGen Gas. The deal will allow Chattanooga Gas to achieve a minimum annual emissions reduction savings of approximately 646 tons of methane, or 16,152 tons of carbon dioxide. Williams is deploying its NextGen Gas platform across its vast infrastructure network, leveraging block-chain secured technology to track and measure emissions.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:15 pm

CX

Cemex and Synhelion have made significant progress in their joint effort to develop a fully solar-driven cement production process. They have scaled their technology to industrially-viable levels, including the continuous production of clinker using only solar heat. The partnership has received recognition and funding from the U.S. Department of Energy and the Boston College Center for Corporate Citizenship. This project is part of Cemex's Future in Action program, aiming for net-zero CO₂ emissions by 2050.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:09 pm

RIVN

TSLA

Tesla and Rivian could face off in a California court over Tesla's lawsuit alleging that Rivian employees violated non-disclosure agreements. The case was filed by Tesla in 2020, alleging that Rivian hired former Tesla employees who passed on sensitive trade secret information. Tesla expanded the lawsuit in 2021, claiming that Rivian stole core technology related to its next-gen batteries. Rivian has denied any wrongdoing. If the ruling is finalized, Tesla's lawsuit would proceed to a trial.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 1:07 pm

NBSE

Neubase Therapeutics has decided to stop further development of its programs and is planning to conduct a comprehensive exploration of strategic alternatives.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:59 pm

TUYA

Tuya has received a Non-VID Scoped PAA Certification Authorization, which is expected to enhance the development experience.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:35 pm

ATVI

HAS

MSFT

Hasbro, Inc (NASDAQ:HAS) has apologized to Activision Blizzard, Inc (NASDAQ:ATVI) for mistakenly stating that Activision had lost Xbox 360-era Transformers games. Hasbro had previously expressed hope that the games would be found if the deal with Microsoft Corp. (NASDAQ:MSFT) went through. Activision's CCO and EVP of corporate affairs, Lulu Cheng Meservey, denied the allegations on Twitter, assuring that Activision has the code for the Transformers games and that they were never lost.

Portfolio Pulse from Franca Quarneti

August 04, 2023 | 12:18 pm

FTTUSD

Kraken's co-founder, Jesse Powell, has expressed skepticism about the proposed restructuring plan for FTX (CRYPTO: FTT). The plan, announced by FTX, aims to revive the exchange as an offshore entity. Powell believes that FTX 2.0 would be worse than starting from scratch due to lack of team, tech, licenses, banking, and a tarnished brand. The restructuring plan involves the identification of three main recovery pools, cancellation of intercompany claims, and the liquidation of FTX's estates to make cash distributions to customers and creditors.

Portfolio Pulse from Murtuza Merchant

August 04, 2023 | 12:04 pm