Streetbeat News

Corporate Responsibility

MCOM

micromobility.com Inc. (NASDAQ:MCOM) has announced a strategic realignment of its business, discontinuing its media business to focus on its core mobility sector. The company will terminate its streaming contracts, including for the 3rd season 2023-2024 of League Serie B, which is expected to save over EUR 14 million. The savings will be redirected towards strategic initiatives such as mergers and acquisitions.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:13 pm

TSP

TuSimple Holdings Inc (NASDAQ:TSP) is exploring strategic alternatives for its U.S.-based operations, which has led to a decrease in its stock price. The company has engaged Perella Weinberg Partners to explore possible transactions. This comes after TuSimple's plans to reorganize its U.S. operations by reducing the global workforce by about 30%, leading to an expected annual cash compensation expense savings of ~$64 million - $68 million.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 12:05 pm

MS

Morgan Stanley's board is set to discuss CEO succession at board meetings in July, September, and October, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 11:56 am

CSV

Carriage Services has announced that it is reviewing strategic alternatives. The company has not set a definitive timeline for this review and there is no assurance that this process will result in any specific action or transaction.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 11:00 am

BUD

Brendan Whitworth, CEO of Anheuser-Busch InBev (BUD), stated in a CNN interview that the company is ready to move past the controversy surrounding its partnership with a transgender influencer.

Portfolio Pulse from Charles Gross

June 29, 2023 | 10:44 am

DMTK

DermTech has announced a restructuring plan to prioritize the DermTech Melanoma Test, streamline operations, suspend pipeline programs, and reduce annual costs by $25M-$30M. This will extend the company's cash runway into Q1 of 2025.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 8:51 am

IHS

IHS Holding has issued a response to recent statements from MTN, Wendel, and Blackwells Capital regarding certain corporate governance matters. The company's management team and Board of Directors have a track record of engaging with shareholders and are committed to acting in the best interests of all shareholders.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:37 pm

ELME

Elme Communities has appointed Tiffany Butcher as its new Executive Vice President and COO, effective from July 10, 2023. In her role, she will guide the company's operating strategy, implement operational improvements, and align operations and asset management with the strategic goals set by the CEO and Board of Trustees.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:32 pm

MKC

McCormick has announced the appointment of Brendan Foley as CEO, effective from September 1. The current CEO, Lawrence Kurzius, will continue as the Executive Chairman of the Board.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:23 pm

PLCE

Children's Place has announced a 17% reduction in its salaried workforce, equivalent to 181 positions, as part of its ongoing transformation from a legacy store operating model to a digital-first retailer. The company has also voluntarily terminated its corporate office lease.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:08 pm