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Corporate Responsibility

CEG

CRM

DUK

NRG

PYPL

Activist investor Elliott Investment Management is pressuring NRG Energy to replace CEO Mauricio Gutierrez. Elliott recently acquired a 13% economic interest in NRG and aims to restructure the board and initiate cost-saving measures and a strategic review of Vivint, NRG's home services unit.

Portfolio Pulse from Lekha Gupta

June 22, 2023 | 12:44 pm

INTC

TSM

Intel Corp plans to restructure its manufacturing business, aiming to become the second largest foundry with projected revenue over $20 billion. The company has not disclosed a timeline for the restructuring or named new external customers. Intel also announced a 20% stake divestment in its IMS Nanofabrication business to Bain Capital Special Situations for $4.3 billion.

Portfolio Pulse from Anusuya Lahiri

June 22, 2023 | 12:23 pm

QUBT

Quantum Computing Inc. (QCi) has appointed Chris Boehmler as its new CFO, succeeding Chris Roberts. Boehmler brings over 20 years of financial expertise and will be responsible for managing the company's financial operations, strategy, and planning as QCi enters material commercialization.

Portfolio Pulse from Happy Mohamed

June 22, 2023 | 12:22 pm

BABA

Following Alibaba's management reshuffle, President Chen Long emphasized the importance of small businesses and merchants as the backbone of the platform amid China's economic slowdown. Daniel Zhang Yong will step down as Chair and CEO in September, with Joe Tsai and Eddie Wu Yongming taking over the positions.

Portfolio Pulse from Anusuya Lahiri

June 22, 2023 | 12:18 pm

BTCUSD

A Brooklyn-based bathhouse, BATHHOUSE, is using excess heat generated from Bitcoin mining rigs to heat its pools. The spa shared a three-step process on Instagram, explaining how the byproduct of Bitcoin mining is used to raise the pool temperatures. The process involves mining Bitcoin, transmitting excess heat to heat exchangers, and using the heat exchangers to warm the pools.

Portfolio Pulse from Mehab Qureshi

June 22, 2023 | 12:16 pm

SLNH

Soluna Holdings CEO John Belizaire published an open letter to shareholders, discussing the company's challenges in 2022 and outlining its path to profitability. The focus for 2023 is on energizing and commercializing Project Dorothy, with positive cash flow expected in the second half of the year.

Portfolio Pulse from Happy Mohamed

June 22, 2023 | 12:14 pm

GDEV

Nexters Inc. has changed its name to GDEV Inc. and evolved into a holding company focused on the growth of its diversified portfolio of studios and franchises. The holding company will focus on strategic partnerships, acquisitions, and group-wide initiatives, while individual studios will concentrate on product development.

Portfolio Pulse from Happy Mohamed

June 22, 2023 | 12:13 pm

LMND

Lemonade announced the renewal of its reinsurance program, maintaining its financial expectations for Q2 and FY23 unchanged.

Portfolio Pulse from Bill Haddad

June 22, 2023 | 12:07 pm

IMAB

I-Mab has announced the appointment of Raj Kannan as its new CEO. Raj brings extensive experience in the biopharmaceutical industry and is expected to drive the company's growth.

Portfolio Pulse from Bill Haddad

June 22, 2023 | 12:05 pm

NRG

NRG Energy plans to reduce its debt by up to $2.55 billion to achieve its target investment grade credit metrics of 2.5x to 2.75x net debt/adjusted corporate EBITDA by 2025.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 11:41 am