Streetbeat News

Corporate Responsibility

MEI

Methode Electronics is discontinuing its Dabir Surfaces business. The company expects the wind down process to be completed by the end of fiscal 2024, with associated costs to fiscal year 2024 pre-tax income estimated between $1.5 million and $3.5 million.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 9:16 pm

LESL

Leslie's, a pool and spa care brand, has appointed Scott Bowman as its new Chief Financial Officer (CFO).

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:07 pm

CASA

Casa Systems has announced the appointment of Michael Glickman as its next President and CEO, effective from August 1, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:06 pm

QCOM

The article corrects a previous statement, clarifying that Ziad Asghar is the head of AI at Qualcomm.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 7:17 pm

BTCUSD

CELUSD

ETHUSD

Former CEO of Celsius, Alex Mashinsky, has pleaded not guilty to fraud charges. The charges could potentially impact the company's reputation and investor confidence.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 7:07 pm

AAON

AAON has announced a major expansion to its facility in Longview, TX. The $40 million project, supported by the Longview Economic Development Corporation, will add 230,000 sq. ft. to the facility, doubling an earlier expansion completed in 2021. The expansion will increase production capacity, create space for manufacturing new products, expand coil production capabilities, and create approximately 250 new full-time jobs.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 7:02 pm

BP

Raymond James analyst Justin Jenkins has reiterated an Outperform rating on BP P.L.C. (NYSE:BP), but lowered the price target to $45 from $47. Jenkins noted that BP's net zero plan is the most comprehensive in the industry. The analyst also lowered the EPADS estimate for 2Q to $1.15 due to lower Gas & Low Carbon and Oil Production & Operations estimates. However, BP's surplus cash outlook and share repurchases are expected to reduce share count significantly. The analyst also lowered 2023 and 2024 EPS and revenue estimates.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 6:56 pm

GS

Goldman Sachs is expected to report its worst quarterly earnings in years next week, with writedowns on its GreenSky consumer-lending business and commercial real estate holdings likely to exceed $2 billion. The poor performance is expected to increase pressure on CEO David Solomon, who has been criticized for his resource allocation and strategic decisions. The firm's relationship with the Federal Reserve has also reportedly deteriorated under Solomon's leadership.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 5:23 pm

HCDI

Harbor Custom Development, Inc. (NASDAQ:HCDI) has announced Jeff Habersetzer as the company's Interim CEO and President. Habersetzer, who has been with the company since 2019, replaces Sterling Griffin who announced his retirement. The shareholders also re-elected five current directors and appointed D. David Chandler to the Board of Directors. The shareholders approved the ratification of the appointment of Rosenberg Rich Baker Berman, P.A. as the company's independent registered public accounting firm for 2023.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 5:21 pm

SONY

Neil Druckmann, director of The Last of Us, has assumed the role of president at Naughty Dog, a video game developer owned by Sony Group Corp.'s Sony Interactive Entertainment, following the retirement of co-president Evan Wells. Wells expressed confidence in Druckmann's ability to lead the studio. It is unclear if Druckmann will be the sole president or if Wells will be replaced.

Portfolio Pulse from Franca Quarneti

July 13, 2023 | 4:57 pm