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Corporate Responsibility

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DAL

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STRC

Delta Air Lines, Sarcos Technology and Robotics Corporation, Conagra Brands, The Walt Disney Company, and The Progressive Corporation are stocks to watch heading into Thursday. Delta Air Lines and Conagra Brands are expected to post quarterly earnings, while Sarcos Technology has reported preliminary revenue of $1.3 million for Q2 and withdrawn its full-year revenue forecast. Disney has extended Bob Iger's contract as CEO through 2026, and The Progressive Corporation is also expected to report quarterly earnings.

Portfolio Pulse from Lisa Levin

July 13, 2023 | 8:08 am

AMZN

Senator Elizabeth Warren criticized Amazon's tax practices following the conclusion of Prime Day 2023, reminding that the company paid no federal income taxes in 2018 despite making over $10 billion in profits. Warren noted that Congress passed her plan for a minimum tax on massive corporate profits, which became applicable from Dec. 31, 2022. Amazon paid zero federal taxes in 2018 and 2019, but had to foot a federal tax bill of $162 million in 2019, a fraction of the $13.98 billion it earned as pre-tax income.

Portfolio Pulse from Shanthi Rexaline

July 13, 2023 | 8:07 am

DIS

Walt Disney Co. (NYSE:DIS) has extended CEO Bob Iger's tenure until Dec. 31, 2026. KeyBanc Capital Markets analyst Brandon Nispel views this as neutral to the stock, suggesting the company hasn't found a clear successor for the CEO and CFO positions. The extension may also be related to ongoing restructuring and cost-saving initiatives. Iger returned as CEO in November 2022 after the company faced multiple challenges under his successor Bob Chapek.

Portfolio Pulse from Shanthi Rexaline

July 13, 2023 | 7:18 am

ALV

Autoliv, a leading automotive safety supplier, is planning to close some of its sites in Germany and the United Kingdom as part of its strategy to adjust its geographic footprint. The company has not disclosed the number of sites or the timeline for the closures.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 7:18 am

WKEY

WISeKey International has adopted a holding company structure, with four operational subsidiaries. This move is aimed at streamlining operations and improving efficiency.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 5:45 am

TSLA

Tesla's Gigafactory in Shanghai has reportedly manufactured its millionth Model Y, a milestone celebrated by employees. This comes over two years after the first Model Ys were delivered to customers in January 2021. However, Tesla has not officially announced this achievement. The Shanghai Gigafactory, Tesla's first overseas, also achieved the production of one million cars less than a year ago.

Portfolio Pulse from Anan Ashraf

July 13, 2023 | 2:52 am

BBBYQ

KSS

WMT

MyPillow, led by CEO Mike Lindell, a supporter of former President Donald Trump, is facing significant business challenges due to 'massive, massive cancellation' from big box stores. The company lost $100 million as retailers like Walmart Inc, Bed Bath & Beyond, and Kohl's Corporation pulled MyPillow products from their shelves following Lindell's controversial claims about the 2020 presidential election.

Portfolio Pulse from Benzinga Neuro

July 13, 2023 | 1:05 am

DIS

Disney's board of directors has extended CEO Robert A. Iger's contract until December 31, 2026. The decision reflects the board's confidence in Iger's leadership and his ability to navigate industry challenges. The extension also allows time for a seamless CEO transition plan. Since his return as CEO in November 2022, Iger has initiated a significant transformation at Disney, focusing on creativity and the growth of the company's streaming business.

Portfolio Pulse from Mohit Manghnani

July 12, 2023 | 9:44 pm

DIS

Disney has extended Bob Iger's contract as CEO through 2026, leading to a rise in the company's shares.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 9:01 pm

DIS

The board of Walt Disney has extended the contract of CEO Robert A. Iger through 2026. This decision may have implications for the company's future strategy and performance.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 9:00 pm