Streetbeat News

Corporate Responsibility

TSLA

Tesla executives Ashok Elluswamy and Milan Kovac publicly supported CEO Elon Musk's $56 billion pay package, emphasizing his critical role in Tesla's AI and autonomy success. This comes ahead of a shareholder vote to reinstate the rescinded pay package, despite opposition from proxy advisory firms.

Portfolio Pulse from Anan Ashraf

June 10, 2024 | 1:44 pm

BITF

RIOT

Bitfarms Ltd (NASDAQ:BITF) shares are trading lower after the company announced a shareholder rights plan to counter a takeover attempt by Riot Platforms Inc (NASDAQ:RIOT). The plan aims to preserve the integrity of Bitfarms' strategic alternatives review process. Riot Platforms has built a 12% stake in Bitfarms and the new plan will dilute any entity's stake if it exceeds 15% between June 20 and Sept. 10.

Portfolio Pulse from Adam Eckert

June 10, 2024 | 1:31 pm

MU

Micron Technology announced a $4M deposit with Clarity Credit Union to support financial services and education in rural areas. This is part of Micron's ongoing EOC commitment, which included previous deposits totaling $16M with other financial institutions.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 1:10 pm

HTHIY

Kansai Electric Power Co. plans to issue Japan's second transition bond worth $191 million to fund nuclear power projects. This follows a similar issuance by Kyushu Electric Power Co. and highlights Japan's commitment to carbon neutrality by 2050. Additionally, Hitachi Ltd. issued the largest digital green bonds sale in December, amounting to $68 million.

Portfolio Pulse from Benzinga Neuro

June 10, 2024 | 1:09 pm

META

Meta is developing AI technology that reflects European languages, geography, and culture. The company ensures that private messages and content from minors are not used for AI training, utilizing only public content for its foundational AI model.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 1:05 pm

LUV

Elliott Management has disclosed a $1.9 billion position in Southwest Airlines and has sent a letter and presentation to the board. The firm is calling for upgraded leadership and a comprehensive business review, believing that Southwest's stock can achieve $49 per share, representing a 77% return.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 12:59 pm

FSTA

WMT

XLP

Walmart Inc (NYSE:WMT) opposes a new New York law requiring panic buttons for retail worker safety, citing concerns about false alarms and costs. The law, awaiting the governor's signature, mandates large retailers to install panic buttons by 2027. Despite Walmart's safety initiatives, shareholders rejected a proposal for an independent review of workplace safety policies. Walmart's stock has gained over 28% in the last year.

Portfolio Pulse from Anusuya Lahiri

June 10, 2024 | 12:32 pm

PLAY

Top Wall Street analysts have updated their expectations for Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) ahead of its first-quarter earnings report. Analysts predict earnings of $1.74 per share and revenue of $624.2 million. The company recently appointed Darin Harper as CFO, effective June 17. Analyst ratings have varied, with some downgrades and price target adjustments.

Portfolio Pulse from Avi Kapoor

June 10, 2024 | 12:27 pm

OXBR

Oxbridge Re Holdings Limited (NASDAQ: OXBR) is evaluating strategic alternatives to maximize shareholder value, including potential sale, spinout, merger, divestiture, recapitalization, or continuing as an independent company. This evaluation includes its Web-3 division subsidiary, SurancePlus Holdings Ltd.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 12:10 pm

EFSH

1847 Holdings CEO Ellery Roberts announced that the company is nearing a deal to acquire a millwork manufacturer for $16.75 million. The company is also engaged in active sale discussions and is focused on restructuring and debt repayment to improve its capital structure.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 12:09 pm