Streetbeat News

Corporate Responsibility

AMZN

Amazon plans to sell DPReview, a photography site it acquired in 2007, instead of shutting it down as previously planned.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 7:45 pm

FDX

FedEx plans to fold its Canada Ground unit into its Express division, aiming to streamline operations and convert some contractors into employees.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 6:45 pm

CANO

CVS

HUM

Cano Health's CEO Dr. Marlow Hernandez has stepped down but will remain on the Board of Directors. Chief Strategy Officer Mark Kent is appointed interim CEO. The company is searching for a permanent CEO and new independent directors. Shareholders with a 35% stake have expressed concerns about governance issues and called for leadership changes.

Portfolio Pulse from Vandana Singh

June 20, 2023 | 3:24 pm

CANO

DICE

QUOT

Eli Lilly agreed to acquire DICE Therapeutics for $48 per share, causing DICE's stock to climb 37.7%. Quotient Technology announced a combination with Neptune Retail Solutions, leading to a 16.4% surge in its shares. Cano Health's CEO Dr. Marlow Hernandez stepped down, and Mark Kent was appointed as interim CEO, resulting in a 12.1% gain in the company's stock.

Portfolio Pulse from Lisa Levin

June 20, 2023 | 2:22 pm

T

AT&T is deploying a generative AI tool for its employees, according to Bloomberg. This move aims to improve productivity and efficiency within the company.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 2:10 pm

LOGI

VFC

VF Corp has appointed Bracken Darrell, former Logitech CEO, as its new President and CEO, effective July 17, 2023. Darrell will replace Benno Dorer, who served as Interim President and CEO since December 2022. VF Corp reported a Q4 FY23 sales decline of 3% Y/Y to $2.74 billion, slightly beating the consensus of $2.73 billion.

Portfolio Pulse from Lekha Gupta

June 20, 2023 | 1:33 pm

EVC

Entravision (NYSE:EVC) has appointed Michael Christenson as its new CEO, effective July 1, 2023. Christenson brings extensive experience in operational execution and strategic acquisitions, which is expected to help Entravision expand its digital, television, and audio segments.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 1:20 pm

BABA

DB

EADSY

GOOGL

GRAB

HYMTF

NVDA

SPOT

Spotify plans to launch a more expensive subscription plan called 'Supremium' with high-fidelity audio. Grab Holdings plans to cut its workforce by 5%. Deutsche Bank applies for a digital asset custody license. Google is in talks with Indian suppliers to assemble Pixel smartphones. Chinese vendors bypass the US embargo to supply Nvidia AI chips. Alibaba names Eddie Wu as its new CEO. Hyundai unveils an $85B investment plan for EVs. Airbus confirms a 500 A320 aircraft order from IndiGo.

Portfolio Pulse from Vandana Singh

June 20, 2023 | 1:07 pm

IMTE

Integrated Media Technology (IMTE) announced the resignation of Jing Zhuo as a Director and CFO, effective June 19.

Portfolio Pulse from Happy Mohamed

June 20, 2023 | 1:05 pm