Streetbeat News

Corporate Responsibility

NKLA

A fire occurred behind Nikola Motor Company's Phoenix headquarters, affecting multiple battery electric trucks. No injuries were reported, but foul play is suspected. An investigation is underway.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 1:18 pm

AMZN

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BTCUSD

JPM

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NKLA

A crypto analyst predicts Bitcoin could break $32K due to BlackRock's ETF filing. Nikola continues test road trips despite weak demand and internal conflict. Retailers' subscriptions, including Amazon Prime and Walmart+, face FTC scrutiny. 3M settles a PFAS-related lawsuit for $10.3B. Boeing invests $100M in pilot training in India. JPMorgan pays a $4M penalty for deleting electronic communications.

Portfolio Pulse from Vandana Singh

June 23, 2023 | 1:16 pm

IONQ

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SWBI

3M enters a broad class resolution to support PFAS remediation for public water suppliers with a commitment of up to $10.3B over 13 years. Smith & Wesson Brands reports Q4 adjusted earnings of $0.32, beating estimates, and increases dividend by ~20%. IonQ raises 2023 bookings expectations to $50M at midpoint, anticipating doubling bookings from the prior year.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 12:34 pm

CB

Chubb Limited (NYSE:CB) has appointed Michael O'Donnell as Chief Operating Officer of Global Reinsurance. O'Donnell will continue to have responsibility for the U.S. operations of Chubb Tempest Re while expanding his remit into the strategic and tactical operations of the company's global reinsurance operations.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 12:31 pm

BCYC

Bicycle Therapeutics has appointed Alethia Young as its new Chief Financial Officer. Young brings extensive experience in the biotechnology sector, which is expected to benefit the company.

Portfolio Pulse from Bill Haddad

June 23, 2023 | 11:31 am

THC

Tenet Healthcare Corporation (NYSE:THC) has appointed Sun Park as Executive Vice President & Chief Financial Officer, effective January 1, 2024. Sun Park will succeed the retiring Dan Cancelmi and report to CEO Saum Sutaria.

Portfolio Pulse from Charles Gross

June 23, 2023 | 10:50 am

ICPT

Intercept Pharmaceuticals plans to discontinue all NASH-related investments and reduce its workforce by one third. The company will prioritize R&D investment on a fixed-dose combination of OCA and Bezafibrate, aiming for profitability in 2024.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 10:39 am

GSK

GSK has reached a confidential agreement to settle a lawsuit alleging that its Zantac drug caused cancer. The case, which was scheduled for trial next month, will be dismissed.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 10:28 am

SBUX

Starbucks workers at over 150 stores are planning to strike over the company's decision to remove Pride decorations. The Starbucks Union claims this decision goes against the company's commitment to inclusivity.

Portfolio Pulse from Charles Gross

June 23, 2023 | 10:08 am

MMM

3M Co has settled a PFAS-related lawsuit for $10.3 billion, payable over 13 years, with several U.S.-based public water suppliers. The agreement resolves current and future drinking water claims and includes funding for testing PFAS and detection in the future. The company expects to record a pre-tax charge of $10.3 billion in Q2 2023.

Portfolio Pulse from Lekha Gupta

June 23, 2023 | 9:22 am