Streetbeat News

Corporate Responsibility

BA

Relatives of victims from two fatal 737 Max crashes argue that Boeing received a lenient plea deal and are urging the court to reject it, according to a Reuters report.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 5:40 pm

LUV

Southwest Airlines CEO announced that the company will be transitioning from an open seating model to an assigned seating model, which will be a complex and transformational change. The retrofit will involve roughly 800 aircraft and will take time, but aircraft downtime should be minimal. The company is not considering changing its free bag policy.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 5:22 pm

BITF

RIOT

Riot Platforms Inc (NASDAQ:RIOT) shares are trading lower after the company announced that the Ontario Capital Markets Tribunal has ceased trading Bitfarms Ltd’s (NASDAQ:BITF) poison pill. Riot also announced the acquisition of Block Mining for $92.5 million, adding significant operational capacity. Multiple analysts have reiterated their ratings and price targets for Riot, which is expected to report a loss in its upcoming financial results.

Portfolio Pulse from Adam Eckert

July 25, 2024 | 2:57 pm

SPY

U.S. Treasury Secretary Janet Yellen praised President Biden for driving a 'remarkable economic recovery' and restoring the U.S.'s global standing. She expressed pride in serving with Biden and Harris and looks forward to continuing to advance U.S. leadership and strong economic results. Yellen also noted the resilience of the global economy, driven largely by U.S. economic performance.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 2:47 pm

DEO

New Delhi City Police has summoned the CEO of Diageo India to appear at an investigation related to payments by government agencies for liquor purchases.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 2:47 pm

ALK

BA

ITA

PPA

Boeing Co (NYSE:BA) is trading lower in premarket after agreeing to finalize a guilty plea to a criminal fraud conspiracy charge, paying at least $243.6 million for breaching a 2021 agreement with the U.S. Justice Department. Boeing will invest $455 million over three years to enhance safety and compliance programs. An independent monitor will oversee compliance, with annual progress reports and a three-year probation period. Boeing acknowledged allowing risky work at its factories and failing to ensure accurate airplane record keeping. The Justice Department highlighted ongoing safety and quality issues, including a January incident with an Alaska Air Group Inc (NYSE:ALK) 737 MAX. Boeing stock has lost more than 15% in the last 12 months. Investors can gain exposure to the stock via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Invesco Aerospace & Defense ETF (NYSE:PPA).

Portfolio Pulse from Shivani Kumaresan

July 25, 2024 | 1:46 pm

SNAP

The article discusses how Snapchat has faced challenges in protecting teens from drug dealing and 'sextortion' on its platform. This raises concerns about the company's ability to ensure user safety, particularly for younger users.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 1:06 pm

GLYC

GlycoMimetics (GLYC) will conduct an additional clinical trial for Uproleselan in relapsed/refractory acute myeloid leukemia (AML) following an FDA meeting. The company is initiating a strategic review and corporate restructuring, reducing its workforce by 80%. GlycoMimetics has engaged Lucid Capital Markets as a strategic advisor and is advancing a Phase 2/3 study of Uproleselan in newly diagnosed AML patients with the NCI and Alliance for Clinical Trials. The company's cash is expected to fund operations into Q2 2025.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 1:01 pm

AAL

American Airlines CFO announced a revised delivery schedule of 20 new mainline aircraft this year, down from 22, and expects to achieve approximately $400 million in cost savings in 2024.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:53 pm

SCWO

374Water has successfully destroyed pharmaceutical waste for a manufacturer using its AirSCWO technology, showcasing the technology's versatility in treating complex waste streams.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:49 pm