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INTC

NVDA

Intel is under scrutiny for its job cuts while competing for a $20 billion U.S. chip subsidy. The U.S. Chips Act aims to create jobs and reduce dependency on Asian semiconductor technology. Intel's recent financial struggles and cost-reduction plans, including significant layoffs, contrast with Nvidia's employee retention strategy. Intel's stock has dropped significantly over the past year, while Nvidia's has surged.

Portfolio Pulse from Anusuya Lahiri

August 29, 2024 | 11:33 am

POETF

POET Technologies is reorganizing its engineering team by establishing a Global Engineering Organization in Singapore, led by Dr. Mo Jinyu. This move involves transferring functions from Allentown, PA to Shenzhen and Singapore, aiming for annual savings of $1.8-$2 million.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 11:28 am

IMCR

Immunocore's CFO and Head of Strategy, Brian Di Donato, plans to leave at the end of the year to become CEO of a private biotech company. Immunocore will search for a new CFO, with Di Donato staying through 2024 to ensure a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 11:19 am

LFCR

Lifecore Biomedical announced that CFO John Morberg will step down to pursue other opportunities, with Ryan Lake set to succeed him as CFO starting September 3, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 11:10 am

FLWS

1-800-FLOWERS.COM announced that Bill Shea will retire as CFO on December 29, 2024, and James Langrock has been named as his successor.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 10:47 am

X

Nippon Steel plans an additional $1.3 billion investment in U.S. Steel plants to support its $14 billion acquisition bid, facing resistance from U.S. unions and politicians. The investment aims to extend the operational life of the plants, but the deal faces national security concerns.

Portfolio Pulse from Benzinga Neuro

August 29, 2024 | 9:35 am

CGC

Tokyo Smoke, a cannabis retailer previously owned by Canopy Growth Corp, is closing 29 stores in Canada as it seeks creditor protection under the CCAA. The company aims to restructure and align with current market conditions while continuing operations at 167 locations.

Portfolio Pulse from Maureen Meehan

August 28, 2024 | 10:27 pm

BMRN

BioMarin is reducing its global workforce by approximately 225 employees as part of an organizational redesign and updated strategy for ROCTAVIAN. The company will incur $30-$35 million in severance costs, with reductions expected to complete by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 9:08 pm

RPTX

Repare Therapeutics is strategically reprioritizing its focus on its clinical oncology portfolio, reducing its workforce by 25%, primarily in preclinical areas, and expects non-recurring cash payments of $1.5M-$2M in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 8:15 pm

CMG

Chipotle has announced the accelerated appointment of Adam Rymer as CFO and Jamie McConnell as Chief Accounting and Administrative Officer. Former CFO Jack Hartung will transition to President and Chief Strategy Officer starting October 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 8:12 pm