Streetbeat News

Corporate Responsibility

EA

Electronic Arts (EA) is undergoing a significant restructuring, dividing into EA Entertainment and EA Sports. The move aims to empower studio leaders with more creative ownership and financial accountability. Laura Miele has been appointed president of EA Entertainment, while Cam Weber will lead EA Sports. The restructuring also involves a workforce reduction of approximately 6%.

Portfolio Pulse from Franca Quarneti

June 21, 2023 | 6:44 pm

BABA

Alibaba announced management and board changes, with Eddie Yongming Wu succeeding Daniel Zhang as CEO and Joe Tsai taking over as Chair. Analyst Fawne Jiang reiterates a Buy rating and a $180 price target for Alibaba. The transition is expected to enhance corporate governance and drive technological innovations.

Portfolio Pulse from Anusuya Lahiri

June 21, 2023 | 6:41 pm

CSCO

MSFT

ZM

Eric Yuan, the founder of Zoom Video Communications Inc (NASDAQ:ZM), left a high-paying job at Cisco Systems Inc (NASDAQ:CSCO) to pursue happiness and establish Zoom in 2011. Despite challenges, Yuan's 7.7% stake in Zoom is now worth over $1.54 billion.

Portfolio Pulse from AJ Fabino

June 21, 2023 | 6:30 pm

SBUX

Starbucks plans to develop a sustainability learning and innovation lab at its global agronomy headquarters in Costa Rica. The lab will offer educational programming to select Arizona State University students and Starbucks partners, with a physical opening expected within the next three years.

Portfolio Pulse from Shivani Kumaresan

June 21, 2023 | 4:41 pm

EOG

EOG Resources COO Lloyd Helms expects oil markets to continue tightening, with limited oil supply. He stated that the Permian Basin is not an area they want to grow activity in and EOG is not considering a major role in mergers and acquisitions.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 4:14 pm

AIQUF

TTE

UNPRF

TotalEnergies has signed a deal with German distribution company VNG to supply green hydrogen to its Leuna refinery in Germany. VNG and its partner Uniper will build a 30 MW electrolyzer to produce green hydrogen from renewable electricity, aiming to reduce the refinery's CO2 emissions by 80,000 tons by 2030.

Portfolio Pulse from Lekha Gupta

June 21, 2023 | 4:02 pm

NKLA

Nikola shares are trading higher following the company's announcement on Tuesday to streamline operations and decrease cash spend.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2023 | 3:57 pm

HSBC

MA

Mastercard has announced a global framework for payment card recycling, starting in the UK with HSBC. The initiative includes collection, transportation, and recycling of expired payment cards. Mastercard is calling on all card issuers to join the effort.

Portfolio Pulse from Akanksha Bakshi

June 21, 2023 | 1:06 pm

TTE

TotalEnergies and German natural gas distribution company VNG have signed an agreement to supply green hydrogen to the Leuna refinery, reducing its annual CO2 emissions by up to 80,000 tons by 2030. The green hydrogen will be produced from renewable electricity with a 30 MW electrolyzer in Bad Lauchstädt, operated by VNG and Uniper.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 1:04 pm

MDXG

MiMedx Group Inc (NASDAQ: MDXG) announced a strategic realignment to focus on its Wound & Surgical business, suspending its Knee Osteoarthritis program and disbanding its Regenerative Medicine unit. The company expects one-time wind-down expenses of $5 million and an addition of $25 million of Adjusted EBITDA for FY23. MiMedx also raised its 2023 net sales growth outlook from low-double digits to mid-teens.

Portfolio Pulse from Vandana Singh

June 21, 2023 | 12:54 pm