Streetbeat News

Corporate Responsibility

MMM

3M has announced that the transfer of its US pension payment obligations is not expected to impact its Q2 or 2024 adjusted net income or adjusted free cash flow.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 10:39 am

MMM

3M has agreed to transfer approximately $2.5 billion of its defined benefit pension obligations and related plan assets for 23,000 US retirees and beneficiaries to Met Tower Life. This transfer represents about 60% of ERIP retiree participants and will be effective from October 1, 2024. The transaction was funded using assets from 3M's ERIP trust without requiring additional contributions.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 10:31 am

TSLA

Tesla shares are up over 5% in premarket trading after Elon Musk confirmed that shareholders passed two key proposals: re-approving his 2018 compensation plan and relocating Tesla's incorporation to Texas. This removes a significant overhang on the stock, with further catalysts expected from upcoming quarterly updates and the robotaxi unveiling.

Portfolio Pulse from Shanthi Rexaline

June 13, 2024 | 10:03 am

AAPL

Apple CEO Tim Cook discussed his legacy and the future leadership of Apple in an interview with Marques Brownlee. Cook emphasized his focus on the future rather than his legacy, acknowledging the inevitability of a leadership change. Speculation about potential successors includes Jeff Williams, John Ternus, Craig Federighi, and Deirdre O'Brien. Additionally, Apple announced new AI-powered features and iOS 18 at WWDC.

Portfolio Pulse from Ananya Gairola

June 13, 2024 | 8:55 am

TSLA

Tesla's VP of Investor Relations, Martin Viecha, will depart after the annual shareholder meeting. Viecha announced his resignation two months ago and will be replaced by Travis Axelrod. The departure comes amid a stressful period with key shareholder votes, including Elon Musk's $56 billion pay package.

Portfolio Pulse from Anan Ashraf

June 13, 2024 | 7:50 am

TSLA

Gary Black, Managing Partner at Future Fund, believes Tesla CEO Elon Musk's $56 billion pay package will be easily passed at the upcoming shareholder meeting. Black expects Tesla's stock to jump 3-5% in the short term following the vote. Despite opposition from proxy advisory firms and major investors like CalPERS, the majority of shareholders have voted in favor of the package.

Portfolio Pulse from Anan Ashraf

June 13, 2024 | 6:33 am

TSLA

Elon Musk announced that Tesla's shareholder resolutions, including his new compensation plan and the move of Tesla's corporate headquarters to Texas, are passing by wide margins. The resolutions are part of the 2024 Tesla Inc shareholders meeting. The meeting will be held at Tesla's gigafactory in Texas and livestreamed on YouTube. The new compensation plan requires Musk to hold shares for five years and aims to increase his stake in Tesla from 13% to 25%. Tesla's stock closed at $177.29, up 3.88% for the day.

Portfolio Pulse from Kaustubh Bagalkote

June 13, 2024 | 3:29 am

CANQF

GHBWF

JUSHF

PLNH

The article discusses recent leadership changes and appointments in the cannabis industry, including new leaders at the New York Office of Cannabis Management, board changes at Jushi Holdings Inc., Planet 13 Holdings Inc., and Glass House Brands Inc., and strategic additions to CanaQuest Medical Corp's executive team.

Portfolio Pulse from Jelena Martinovic

June 13, 2024 | 1:47 am

SPY

TSLA

The 2024 Tesla Inc (NASDAQ:TSLA) shareholders meeting will be held on June 13, featuring a crucial vote on a new compensation plan for CEO Elon Musk. Analysts are divided on the outcome, with potential impacts on Tesla's future direction and stock price. The meeting will be livestreamed on YouTube.

Portfolio Pulse from Chris Katje

June 12, 2024 | 9:45 pm

MAPS

Weedmaps (NASDAQ:MAPS) has released data on New York's cannabis market for Q1 2024, revealing consumer preferences and spending habits. Cannabis flower is the most popular product, with edibles also seeing high demand. The average order value in New York is significantly higher than the national average. Weedmaps is actively involved in community initiatives and supporting the legal market transition. New York has also approved home cannabis cultivation rules and issued 105 new adult-use licenses.

Portfolio Pulse from Patricio Liddle

June 12, 2024 | 9:26 pm