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Corporate Responsibility

PAYC

PRGS

Paycom Software confirmed that an unauthorized third party exploited a vulnerability in Progress Software's MOVEit file transfer software to download copies of files from the MOVEit server. This resulted in the exposure of data of certain Paycom clients and their employees, including personally identifiable information of less than 0.4% of all persons for whom the company stored client data during 2022.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 9:32 pm

COIN

TSLA

Hedge fund manager Jim Chanos is offering a lunch experience through Charitybuzz to raise money for NYC's PS 11 Sarah J Garnet elementary school. Chanos is known for his strategy of identifying over-valued stocks and shorting them, having made millions from the collapse of Enron. He has recently been vocal about his belief that Tesla Inc (TSLA) and Coinbase Global Inc (COIN) are overvalued.

Portfolio Pulse from Aaron Bry

July 20, 2023 | 9:22 pm

FUL

H.B. Fuller plans to close three manufacturing facilities and redistribute production as part of a strategic restructuring. The restructuring will begin in Q3 2023 and is expected to be completed by 2026. The restructuring costs are estimated at $20 million pre-tax, which will be spread across several fiscal quarters. The restructuring is expected to result in annualized cost savings of approximately $20 million pre-tax, with most charges and savings recognized in fiscal year 2024.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 9:17 pm

GOOGL

MSFT

US tech giants Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), and OpenAI are set to publicly commit to AI safety measures at the request of the White House. The non-compulsory nature of these commitments highlights the limits of the Biden administration's influence in steering AI models away from potential misuse. The commitment document is expected to propose eight pledges centered around safety, security, and societal responsibility.

Portfolio Pulse from Michael Cohen

July 20, 2023 | 8:57 pm

VWE

Vintage Wine Estates, Inc. (NASDAQ:VWE) has announced the appointment of Seth Kaufman as President and CEO, succeeding Interim CEO, Jon Moramarco. Kaufman, who has been President & CEO of Moët Hennessy North America for the last four years, is expected to begin his position at VWE no later than October 30, 2023. The company believes Kaufman's experience will help drive stronger earnings and cash flow, focus resources on key brands for growth, and strengthen operating processes.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 8:29 pm

VWE

Vintage Wine Estates (VWE) has provided a business update and preliminary outlook for FY24, expecting revenues of $290 million. The company has announced restructuring benefits and business improvements, including a simplification of business and reduced SKUs, which are expected to drive gross margin expansion. Organizational restructuring and other cost savings are expected to result in a $20 million reduction in SG&A for FY24. Seth Kaufman has been appointed as President and CEO.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 8:29 pm

EQT

EQT Corporation has announced the appointment of Jeremy Knop as its new Chief Financial Officer, effective from July 24, 2023.

Portfolio Pulse from Charles Gross

July 20, 2023 | 8:21 pm

VLO

Valero Energy Corporation has announced the promotion of Gary Simmons to the position of Chief Operating Officer (COO), effective from July 20.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 8:10 pm

GILD

The Center for Disease Analysis Foundation (CDA Foundation) has received an $8 million grant from Gilead Sciences (NASDAQ:GILD) as part of Gilead's Relink grant program. The grant will be used to reconnect diagnosed but untreated patients with hepatitis B and C to care. Despite available treatments, many patients in the U.S. are unaware of their infection, do not seek follow-up care, or delay treatment. The Relink program aims to bridge these gaps.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 4:01 pm

SKYX

SKYX Platforms Corp. (NASDAQ:SKYX), a platform technology company, has appointed Khadija Mustafa, former AI and global business leader at Microsoft, as a Senior Tech, AI and Global Business Advisor. Mustafa's experience in AI, enterprise, and public sector segments, as well as hardware, devices, and supply chain, is expected to benefit SKYX as it aims to become a sought-after solution for homes and buildings.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 2:55 pm