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CMG

SBUX

Starbucks' new CEO, Brian Niccol, will receive a $113 million compensation package and remote working privileges. Niccol's leadership at Chipotle saw an 800% stock price surge, and his appointment is seen as a win for Starbucks. The market reacted with a 20% surge in Starbucks' shares and a 10% drop in Chipotle's stock.

Portfolio Pulse from Benzinga Neuro

August 15, 2024 | 8:25 am

K

Wallace 'Wally' Amos, founder of Famous Amos and literacy advocate, passed away at 88. Amos lost ownership of Famous Amos but later owned Chip & Cookie in Hawaii and co-founded Uncle Wally’s Muffin Co. Kellogg Company (NYSE:K) sold Famous Amos and other brands to Ferrero Group in 2019 for $1.3 billion.

Portfolio Pulse from Benzinga Neuro

August 15, 2024 | 1:02 am

RCI

Rogers Communications announced that Edward Rogers will continue to lead the board as Executive Chair, while Tony Staffieri will maintain his responsibilities as CEO, reporting to the full board.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 9:48 pm

ICLR

ICON has appointed Nigel Clerkin as its new CFO. He will be based in ICON's Dublin office and will join the company early in the fourth quarter of this year.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 8:25 pm

CSCO

Cisco announced a restructuring plan that will impact approximately 7% of its global workforce. The company estimates it will recognize pre-tax charges of up to $1 billion in its GAAP financial results, consisting of severance and other one-time termination benefits, and other costs.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 8:22 pm

SPRU

Spruce Power maintains its 2024 guidance for Operating EBITDA in the range of $68M-$86M and Adjusted Free Cash Flow in the range of $0-$5M, with expectations trending to the lower end. The company faced higher operating expenses due to unforeseen CEO transition costs, increased legal expenses from a proxy contest, and non-routine operations and maintenance expenditures.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 8:07 pm

AAPL

Apple is advancing its efforts in developing tabletop robots, a project led by a former car chief. This move signifies Apple's continued diversification and innovation in new technology sectors.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 6:09 pm

BTCUSD

Circle CEO Jeremy Allaire emphasized the need for stronger bipartisan support for cryptocurrency in the U.S. to avoid falling behind other regions like Europe. He criticized the current administration for stifling innovation and driving jobs overseas. Allaire also highlighted the importance of clear regulatory guidance and bipartisan efforts to advance crypto-friendly legislation.

Portfolio Pulse from Murtuza Merchant

August 14, 2024 | 4:58 pm

NNE

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares are trading higher following an agreement with Rwanda to develop nuclear energy through mini-reactors. The company will provide technical assistance, training, and build small modular reactors (SMRs) and microreactors. Additionally, former U.S. congressman Daniel M. Donovan Jr. has been appointed to the executive advisory board.

Portfolio Pulse from Nabaparna Bhattacharya

August 14, 2024 | 4:32 pm

SLRN

Acelyrin Inc. (NASDAQ: SLRN) announced a 33% workforce reduction and a strategic shift to prioritize the development of lonigutamab over izokibep. The company has $635.2 million in cash, extending its runway to mid-2027. Despite positive Phase 3 trial results for izokibep, Acelyrin seeks a partner for its further development. The stock price fell 17.4% following the announcement.

Portfolio Pulse from Vandana Singh

August 14, 2024 | 4:29 pm