Streetbeat News

Corporate Responsibility

LTCH

Latch plans to reduce its US and Taiwan-based workforce by approximately 59% by November 1, 2023. The company is also introducing a new leadership team, with Jamie Siminoff expected to become CEO later this year. Latch aims to leverage a more efficient, remote global workforce and reduce operational spend, with new US-based roles to be located in St. Louis.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 8:02 pm

FXI

SPY

US Treasury Secretary Janet Yellen has agreed with Chinese officials to maintain open communication and deepen talks on areas of concern. She also noted that China's technological innovations could be transferable globally to reduce the cost of fighting climate change.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 6:02 pm

EYPT

EyePoint Pharmaceuticals Inc (NASDAQ:EYPT) shares are trading higher after the company appointed Jay Duker as CEO, transitioning from his role as COO and president. Duker has also been appointed to the company's Board of Directors. Former CEO Nancy Lurker has transitioned to executive vice chair of the Board of Directors. EYPT shares are up 9.13% at $8.77.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 3:50 pm

SPY

Secretary Janet Yellen tweeted about progress in deepening communication between countries, discussing ways to cooperate on global challenges, and the importance of avoiding miscommunication in national security measures.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 2:39 pm

BABA

BTGOF

GSK

HNHPF

IEP

JNJ

META

NVO

SIVBQ

UBS

Meta's Threads app has reached 100 million users in five days, making it the fastest-growing consumer application in history. Nanobiotix has entered a global licensing, co-development, and commercialization agreement with Janssen Pharmaceutica, a unit of Johnson & Johnson, for the investigational radioenhancer NBTXR3. GSK's Arexvy vaccine for respiratory syncytial virus has been approved in the UK for older adults. BT Group's CEO Philip Jansen is stepping down within the next 12 months. Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Vedanta, impacting India's chipmaking plans. General Motors has reduced the starting price for the Cadillac Lyriq by 14% in China. SVB Financial Group is suing the U.S. Federal Deposit Insurance Corporation to recover $1.93 billion. Saudi National Bank's plan to increase its stake in UBS Group's Credit Suisse has been halted by Swiss regulator FINMA. Godrej Aerospace is planning to invest in General Electric's GE414 engine manufacturing operations. Carl Icahn has revised loan agreements and recovery strategy after a short-seller attack led to a 40% drop in Icahn Enterprises' shares. Novo Nordisk's weight-loss medications are under European investigation over suicidal risks. Alibaba's Youku is airing a series focusing on China's semiconductor leadership.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 2:30 pm

NYT

The New York Times (NYT) has announced plans to close its sports desk, however, all sports staff will retain their jobs within the company, according to the Wall Street Journal.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 2:12 pm

AGR

Avangrid, Inc. (NYSE:AGR), a sustainable energy company, has reached a capacity of 8.6 GW through its over 70 wind and solar facilities across the U.S., equivalent to powering over 2.8 million homes with renewable energy. The company is the third largest renewable energy operator in the country and operates in 24 states. To celebrate this milestone, Avangrid will launch a social media campaign highlighting its investments and presence in each state.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 1:53 pm

MSFT

Opportunity International, a global non-profit organization, has announced the appointment of Greg Nelson, a former Microsoft executive, as its new Chief Technology Officer. Nelson, who spent 26 years at Microsoft, will lead the development of technological innovations to increase financial inclusion and business development efforts in developing countries.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 1:49 pm

HON

Honeywell International Inc has agreed to acquire SCADAfence, a provider of operational technology and Internet of Things cybersecurity solutions. The acquisition will expand Honeywell's Cybersecurity Center of Excellence in Tel Aviv and boost its OT cybersecurity portfolio. The SCADAfence product portfolio will be integrated into the Honeywell Forge Cybersecurity+ suite. The transaction is expected to close in the second half of 2023.

Portfolio Pulse from Akanksha Bakshi

July 10, 2023 | 1:09 pm

HILS

Hillstream BioPharma (NASDAQ:HILS) has announced a strategic reprioritization of its pipeline to focus on HER2/HER3 solid tumors via bispecific and ADC antibodies and biologics. The company's lead bispecific antibody, HSB-3215, is designed to target novel conformational epitopes on HER2 and HER3. Hillstream also plans to optimize its BsAb pipeline with BiSpecific ADCs and develop novel bovine-derived biologics in collaboration with ABSI and Minotaur. The company has appointed Sireesh Appajosyula as its new COO.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 12:47 pm