Streetbeat News

Corporate Responsibility

T

AT&T's Chief Human Resources Officer, Angela Santone, is set to depart in September amidst an $8 billion cost-reduction program and job cuts. The company has been conducting rounds of layoffs, reducing its total staff by 32% since the beginning of 2021. AT&T is restructuring its operations, reducing 350 offices to nine core locations, and requiring 60,000 managers to work in person at these hubs.

Portfolio Pulse from Anusuya Lahiri

August 01, 2023 | 11:52 am

CVS

CVS Health Corp is planning to cut around 5,000 jobs, primarily in corporate positions, as part of a cost-cutting drive, according to the Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 7:09 am

META

Meta Platforms Inc.'s (NASDAQ:META) chief product officer, Chris Cox, reportedly stated that the company's name change from Facebook was successful in shifting media attention away from the 'Facebook Papers' scandal. This statement contradicts CEO Mark Zuckerberg's previous dismissal of any association between the name change and the scandal. The timing of the name change, which occurred three weeks after whistleblower Frances Haugen's disclosures, had sparked speculation about its connection to the scandal.

Portfolio Pulse from Ananya Gairola

August 01, 2023 | 5:37 am

EVEX

Eve Air Mobility has appointed Johann Bordais as its new CEO. The company's co-CEOs, Andre Stein and Jerry DeMuro, will remain at Eve with new roles.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 5:07 am

META

TSLA

Texas Senator John Cornyn visited Tesla's Gigafactory in Texas and met with CEO Elon Musk. They discussed various topics including AI, supply chains, SpaceX, and China. The Gigafactory, which is the second largest manufacturing facility in the U.S., employs 10,000 Texans. Cornyn and Musk have been supportive of each other, with Musk having moved to Texas and relocated Tesla's headquarters there in 2021.

Portfolio Pulse from Anan Ashraf

August 01, 2023 | 4:59 am

MSFT

Microsoft's Bill Gates, along with actors Seth Rogen and Lauren Miller, discussed mental health, Alzheimer's, and cannabis in the first episode of Gates' new podcast, 'Unconfuse Me'. They talked about the Hilarity for Charity foundation, which aims to provide tools for families affected by Alzheimer's and research into brain health. The podcast also touched on the ongoing research into the effects of cannabis in the treatment of Alzheimer's, highlighting the challenges due to its federal illegality.

Portfolio Pulse from El Planteo

July 31, 2023 | 10:36 pm

CURLF

Marijuana Matters (M2) founder Khadijah Tribble emphasized the role of consumers in promoting sustainability and ethical, social, and governance (ESG) practices in the cannabis industry during the Benzinga Cannabis Capital Conference. Tribble, who also served as vice president of corporate social responsibility at Curaleaf Holdings Inc (OTCQX:CURLF), stated that consumers can influence the industry by supporting brands that prioritize sustainability and ESG standards.

Portfolio Pulse from Joana Scopel

July 31, 2023 | 10:27 pm

LFMD

LifeMD announced that Alex Mironov has voluntarily resigned from his position as President on July 28.

Portfolio Pulse from Charles Gross

July 31, 2023 | 10:00 pm

GOOG

GOOGL

Google plans to revamp its Assistant using generative AI technologies similar to those that power ChatGPT and its own Bard chatbot. The move will change how Assistant works for consumers, developers, and Google's own employees. The company is reorganizing the teams that work on Assistant and making a small number of layoffs. Other companies, including Amazon, are making similar moves.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 9:29 pm

FANG

VNOM

Viper Energy Partners LP (VNOM), a subsidiary of Diamondback Energy, Inc. (FANG), plans to convert its legal status from a Delaware limited partnership into a Delaware corporation by December 31, 2023. The conversion is expected to maintain the current ownership structure and tax treatment. Post-conversion, Viper's common stock will be traded on NASDAQ under the existing ticker symbol 'VNOM'. The conversion is aimed at increasing corporate governance rights and positioning Viper for index and benchmark inclusion.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 8:49 pm