Streetbeat News

Corporate Responsibility

NURO

NeuroMetrix, Inc. (NASDAQ:NURO) reiterated its review of strategic alternatives, including a substantial reduction-in-force to lower operating expenses by over $500K per quarter and discussions to sell non-core international assets. The company reported $16.4M in cash and cash equivalents for Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 6:49 pm

LWAY

Lifeway Foods, Inc. (NASDAQ:LWAY) shares surged by 47.1% following a strong Q2 earnings report, beating analyst expectations. The company reported EPS of 25 cents and net sales of $49.2 million, driven by Lifeway Kefir’s volume growth. Additionally, a power struggle within the Smolyansky family has emerged, with significant shareholders Edward and Ludmila Smolyansky launching a campaign to replace the current Board, including CEO Julie Smolyansky.

Portfolio Pulse from Nabaparna Bhattacharya

August 13, 2024 | 5:59 pm

PARA

Paramount Global is closing its iconic Paramount Television Studios as part of a cost-cutting restructuring effort. The studio, known for producing hits like '13 Reasons Why' for Netflix and 'Reacher' for Amazon Prime Video, will shut down this week.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 5:48 pm

CMG

SBUX

Brian Niccol, former CEO of Chipotle Mexican Grill (CMG), has taken over as CEO of Starbucks (SBUX), replacing Laxman Narasimhan. This executive move led to a 10% drop in Chipotle's stock, wiping out $7 billion in market cap, while Starbucks' stock surged by over 20%, adding $15 billion in valuation. Chipotle has appointed COO Scott Boatwright as interim CEO.

Portfolio Pulse from Aaron Bry

August 13, 2024 | 5:40 pm

VWAGY

Volkswagen AG has delayed the launch of its new ID.4 models from the Trinity EV project to the early 2030s due to software issues at its Cariad subsidiary. The project, initially set for a 2026 launch, has been postponed, and the company plans to release an updated ID.4 model in 2026 using a new version of its existing MEB platform. The delay is part of a broader reshuffling of plans and cost-cutting efforts amid weak electric car demand.

Portfolio Pulse from Lekha Gupta

August 13, 2024 | 5:18 pm

NNE

NANO Nuclear has engaged Quinn Emanuel to pursue legal action against Hunterbrook Media for deceptive reporting. Alex Spiro will lead the case to protect the company's and shareholders' interests.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 4:30 pm

PARA

Paramount Global (NASDAQ:PARA) is cutting 2,000 jobs as part of a major restructuring effort. The layoffs, which represent 15% of its U.S.-based workforce, are expected to be mostly completed by the end of September. The company aims to achieve $500 million in annualized cost savings and improve its balance sheet. Despite the restructuring, Paramount's shares are trading slightly lower.

Portfolio Pulse from Nabaparna Bhattacharya

August 13, 2024 | 4:07 pm

GM

General Motors (GM) is planning a major overhaul and job cuts in China, including discussions with local partner SAIC about capacity cuts and strategic redirection. The company is transitioning to electric vehicles and upscale models amid intense competition from local players.

Portfolio Pulse from Nabaparna Bhattacharya

August 13, 2024 | 3:43 pm

EAT

Brinker International, Inc. (NYSE:EAT) is set to release its Q4 earnings on August 14, with analysts expecting an increase in both earnings per share and revenue compared to the previous year. The company recently promoted Jeremy Linker to senior vice president of Brand Finance. Analysts have varied ratings on the stock, with price targets ranging from $50 to $90.

Portfolio Pulse from Avi Kapoor

August 13, 2024 | 3:40 pm

CMG

SBUX

Starbucks analysts are mixed on the appointment of Brian Niccol, former CEO of Chipotle, as the new CEO of Starbucks. While some analysts see potential for positive change, others are cautious, noting the differences between the two companies. Niccol's track record at Chipotle is impressive, but Starbucks presents unique challenges. The stock price of Starbucks saw a premature jump, while Chipotle's stock declined following the news.

Portfolio Pulse from Chris Katje

August 13, 2024 | 3:18 pm