Streetbeat News

Corporate Responsibility

AMRN

Amarin Corporation has announced a reorganization and reduction of 30% of its non-sales roles. The company expects this restructuring to result in annual cost savings of approximately $40 million.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 8:18 pm

AMRN

Amarin Corporation has appointed Patrick Holt as its new President and CEO, effective immediately. Holt previously served as president of Cordis, Cardinal Health's global interventional cardiovascular business. Aaron Berg, who served as Interim President and CEO since April 2023, will remain with the company in a senior leadership role.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 8:17 pm

STZ

Constellation Brands has elected Luca Zaramella, CFO of Mondelēz International, and William T. Giles, former CFO of AutoZone, to its Board of Directors effective July 18, 2023. The company has also entered into Information Sharing and Cooperation Agreements with Elliott Investment Management L.P.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 8:10 pm

AIR

AAR Corp. (AIR) has implemented a new reporting structure from Q1 of FY24, separating its Aviation Services segment into three new operating segments: Parts Supply, Repair & Engineering, and Integrated Solutions.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 8:08 pm

HYPR

Hyperfine has announced the promotion of Tom Teisseyre to the position of Chief Operating Officer (COO).

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 8:06 pm

GTBIF

The Teamsters Union has issued a statement calling on Green Thumb Industries (OTCQX:GTBIF) to address safety concerns following the death of an employee at its cultivation and manufacturing facility. The union has previously filed unfair labor practice charges against GTI, and employees have lodged at least five complaints with the Occupational Safety and Health Administration (OSHA) alleging serious safety and health violations. The union also accuses GTI of violating federal law during a union organizing drive in 2021.

Portfolio Pulse from Nina Zdinjak

July 18, 2023 | 5:25 pm

VZ

Verizon Communications has launched an investigation into potential lead contamination related to its old phone cables. The company's shares are trading higher following the announcement.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 4:48 pm

META

TWTR

Twitter Inc, under Elon Musk's leadership, has reportedly not provided severance pay to its laid-off employees in Ghana, part of Musk's cost-cutting measures. Since Musk's acquisition of Twitter for $44 billion in October, the platform has seen a decline in advertising revenue and continues to generate negative cash flow. Twitter also faces competition from Meta Platforms Inc's Threads platform.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 4:41 pm

AZN

PIRS

Pieris Pharmaceuticals Inc (PIRS) shares are trading higher after the company provided a strategic update following AstraZeneca Plc's (AZN) decision to terminate their R&D collaboration agreement and discontinue the remaining discovery program. Pieris is now focusing on new or expanded partnerships to advance its therapeutic programs and has initiated a corporate restructuring that will reduce its workforce by approximately 70%. The company has retained Stifel, Nicolaus & Company Inc. as its financial advisor to evaluate strategic options.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 3:59 pm

PCG

Pacific Gas and Electric Company (PG&E) is launching two new programs, Empower EV and Multifamily Housing and Small Business EV Charger, to improve access to electric vehicle (EV) charging infrastructure in underserved communities. The programs offer no-cost EV charging infrastructure and resources to help cover the costs of installing chargers at homes, multifamily housing units, nonprofit organizations, and small businesses in low- and moderate-income communities. The Empower EV program offers income-eligible customers up to $2,500 in incentives to help cover the cost of installing EV-charging equipment at their single-family residences.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 3:56 pm