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Philip Morris International Inc (NYSE:PM) is investing $600 million to establish a manufacturing facility in Aurora, Colorado, expected to create 500 direct jobs and generate $550 million in annual economic impact. The plant will produce Swedish Match ZYN nicotine pouches, aiming to shift adult smokers away from traditional cigarettes. The construction phase will create nearly 5,000 jobs and contribute nearly $1 billion to the economy. PMI's stock has gained over 7% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

July 16, 2024 | 2:42 pm

MS

Morgan Stanley CEO Ted Pick stated that the company is in the early stages of a multi-year investment banking cycle. Dividends are the highest priority for capital use, and acquisitions are not being considered in the short term. Potential opportunities may be explored in 2-3 years. Macroeconomic uncertainties present trading opportunities.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 2:33 pm

SNDL

SNDL Inc. (NASDAQ:SNDL) announced a restructuring project that includes consolidating its cannabis segments into a single unit. The project aims to enhance efficiency, reduce corporate overheads, and save over $20 million annually. The restructuring will require an $11 million investment over 18 months, with savings expected by mid-2025.

Portfolio Pulse from Jelena Martinovic

July 16, 2024 | 2:26 pm

MULN

Bollinger Motors, an electric commercial vehicle manufacturer majority-owned by Mullen Automotive, has appointed former GM executive James Taylor as CEO. Bryan Chambers has been promoted to President and COO, and Siva Kumar to Chief Strategy Officer and SVP of Finance.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 1:32 pm

LEXX

LEXXW

Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW) is preparing for strategic growth by expanding its management team. Nelson Cabatuan has been appointed as Chief Strategic Financial Advisor, resigning from his current role as CFO. The company is gearing up for a greater workload due to multiple projects and initiatives.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 1:30 pm

NEOV

NeoVolta has announced a joint venture with Store Energy California to provide advanced battery storage systems to low-income households. This initiative leverages state-funded incentives to offer the technology at no cost, enhancing energy security and resilience for families.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:45 pm

OTRK

Ontrak, Inc (NASDAQ:OTRK) has adopted the Comprehensive Healthcare Integration (CHI) framework to enhance its care delivery model. This move aims to integrate physical health, behavioral health, and social determinants of health, advancing Ontrak's commitment to high-quality, whole-person care.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:17 pm

DMRC

Digimarc Corporation (NASDAQ:DMRC) has appointed Katie Kool as the new Chairperson of its Board of Directors, effective June 10, 2024. Kool succeeds Alicia Syrett, who has served as Chairperson since 2020.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:15 pm

VRT

Vertiv (NYSE:VRT) and ZincFive have announced a collaboration to deliver nickel-zinc battery energy storage for data center UPS in North America and EMEA. Vertiv will add ZincFive's BC Series UPS Battery Cabinets to its portfolio, enhancing its backup power solutions with environmentally friendly options.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:07 pm

GENE

Genetic Technologies Limited (NASDAQ: GENE) has appointed Mark Ziirsen as its new Chief Financial Officer and Company Secretary. Ziirsen brings over 25 years of experience in finance leadership roles across various industries, including life sciences and technology.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:02 pm