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Corporate Responsibility

BA

ITA

PPA

SPR

Investors are closely watching Boeing's (NYSE:BA) acquisition of Spirit AeroSystems (NYSE:SPR) and its impact on Boeing's CEO search. Potential candidates include Spirit's CEO Patrick Shanahan, Boeing COO Stephanie Pope, and board chair Steve Mollenkopf. Shanahan's tenure at Spirit has faced challenges, including a 737 MAX incident and workforce layoffs. Boeing's stock has declined over 11% in the past year, and the acquisition is set to close by mid-2025.

Portfolio Pulse from Shivani Kumaresan

July 02, 2024 | 2:31 pm

BA

GE

ITA

NETZ

GE Aerospace has extended CEO Larry Culp's tenure until the end of 2027, with an option for an additional one-year extension. Culp's leadership has significantly reduced GE's debt and increased its market capitalization. GE's stock has gained over 85% in the last 12 months. Investors can gain exposure to GE via IShares U.S. Aerospace & Defense ETF (ITA) and TCW Transform Systems ETF (NETZ).

Portfolio Pulse from Lekha Gupta

July 02, 2024 | 2:16 pm

GDNSF

Goodness Growth Holdings, Inc. (OTCQX:GDNSF) has announced a name change to Vireo Growth, effective around July 8, 2024, pending regulatory approval. The new ticker symbol will be 'VREOF' on the OTCQX Market in the US. The name change will not affect shareholder rights or require any action from them.

Portfolio Pulse from Nina Zdinjak

July 02, 2024 | 2:00 pm

BAC

C

JPM

JP Morgan Chase & Co. (NYSE:JPM) has appointed Nazim Ali to lead its technology vertical for Asia within its private bank, aiming to deepen relationships with tech entrepreneurs. Additionally, JP Morgan, Bank of America (NYSE:BAC), and Citigroup (NYSE:C) have announced dividend increases following successful Federal Reserve stress tests.

Portfolio Pulse from Nabaparna Bhattacharya

July 02, 2024 | 1:26 pm

INTC

MU

SSNLF

TSM

The Biden administration has launched a new program to develop the U.S. computer-chip workforce, utilizing part of the $5 billion federal funding allocated for the National Semiconductor Technology Center (NSTC). This initiative aims to prevent a labor shortage that could hinder domestic semiconductor production. Major recipients of Chips Act funding include Intel Corp. (NASDAQ: INTC), Taiwan Semiconductor Manufacturing Co. (NYSE: TSM), Samsung Electronics Co Ltd (OTC: SSNLF), and Micron Technology Inc. (NASDAQ: MU).

Portfolio Pulse from Shivani Kumaresan

July 02, 2024 | 1:20 pm

GBX

The Greenbrier Companies, Inc. (NYSE:GBX) is set to release its Q3 earnings on July 8, with analysts expecting an EPS of $1.14 and revenue of $928.73 million. The company recently appointed Michael Donfris as CFO. Greenbrier has a dividend yield of 2.44%, translating to a quarterly dividend of 30 cents per share. Investors would need to own approximately $245,500 worth of shares to earn $500 monthly from dividends.

Portfolio Pulse from Avi Kapoor

July 02, 2024 | 12:56 pm

DOUG

Douglas Elliman has announced a $50 million growth investment from Kennedy Lewis Investment Management. The investment comes in the form of senior secured convertible notes due July 2, 2029, with a 7.0% cash interest or 8.0% paid in kind. Preliminary Q2 gross transaction value is estimated between $10.25 billion and $11.25 billion, indicating a strong cash position. The investment will be used to fuel strategic growth and expansion, and Kennedy Lewis will gain the right to nominate one director to Douglas Elliman's board.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 12:35 pm

BCE

Beanfield has appointed Rizwan Jamal as its new CEO, effective immediately. The local independent telecom operates in Toronto, Montreal, Vancouver, and Ottawa with over 450 employees.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 12:31 pm

RCM

RDZN

VS

Market-Moving News for July 2nd: Roadzen (RDZN) shares rise 81% following FY24 earnings, R1 RCM (RCM) shares fall 10% after failed joint proposal discussions, and Versus Systems (VS) shares rise 86% after appointing Curtis Wolfe as Interim CEO.

Portfolio Pulse from ryanfaloona@benzinga.com

July 02, 2024 | 12:29 pm

RYAN

Ryan Specialty Holdings, Inc. (NYSE:RYAN) announces executive leadership changes for its wholesale brokerage division, RT Specialty, effective October 1, 2024. Edward F. McCormack will become CEO, while Brenda Austenfeld and Michael VanAcker will become Co-Presidents.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 12:04 pm