Streetbeat News

Corporate Responsibility

DG

Dollar General has strengthened its partnership with the American Red Cross by donating $250,000 to support disaster preparedness, response, and recovery efforts. Since 2001, the company has contributed over $8.5 million in corporate donations and in-store collections to the Red Cross.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 10:59 am

LULU

VFC

Lululemon Athletica Inc. (NASDAQ:LULU) shares surged by 8% in premarket trading following the release of its first-quarter financial results. The company reported a 6% increase in comparable sales year-over-year and announced plans to expand its overseas market share. Despite mixed margin performance and soft Q2 guidance, Lululemon authorized a $1 billion increase in its stock repurchase program. Concerns arose due to the departure of the product chief, but no further senior management restructuring is expected.

Portfolio Pulse from Nabaparna Bhattacharya

June 06, 2024 | 10:56 am

PSN

Parsons Corporation has been awarded the Yukon Regional Business Sustainability Award for its Faro Mine Remediation Project in Yukon, Canada. This recognition highlights the company's commitment to environmental sustainability and effective project management.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 10:37 am

NET

Cloudflare announced that its Project Galileo, which offers free protection against DDOS attacks to at-risk public interest groups, now safeguards over 2,600 organizations in 111 countries.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 10:12 am

HOFT

Hooker Furnishings (HOFT) plans to finalize and implement cost reduction strategies in Q2, aiming for a 10% reduction in fixed costs starting in the second half of 2025.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 10:03 am

NVDA

TSLA

Tesla CEO Elon Musk defended his decision to redirect Nvidia chips from Tesla to his other ventures, X and xAI, citing space and power constraints at Tesla's existing facilities. Investor Ross Gerber criticized the move, calling it 'weird.' Musk emphasized the need for significant power and cooling for GPU installations and highlighted ongoing construction at the Texas gigafactory to accommodate future AI compute needs.

Portfolio Pulse from Anan Ashraf

June 06, 2024 | 6:04 am

BITF

RIOT

Riot Platforms Inc. (NASDAQ:RIOT) has increased its stake in Bitfarms Ltd. (NASDAQ:BITF) to 12%, acquiring 1.5 million shares at $2.45 per share. Riot plans to call for a special shareholder meeting to address corporate governance concerns at Bitfarms. This follows a rejected $1 billion acquisition proposal by Riot and a short-sell report by Kerrisdale Capital, which caused a 9% drop in Riot's share price.

Portfolio Pulse from Aniket Verma

June 06, 2024 | 2:05 am

ARRY

Array Technologies has appointed Neil Manning as President and COO. Manning has been serving as the Chief Operations Officer since January 2023.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 10:02 pm

CXM

Sprinklr, Inc. (NYSE:CXM) shares fell after the company reported its first-quarter financial results and announced a new co-CEO. Despite beating earnings and sales estimates, the company cut its fiscal year 2025 revenue outlook, leading to a 20.20% drop in share price.

Portfolio Pulse from Erica Kollmann

June 05, 2024 | 9:39 pm

WMT

Walmart announced the results of its annual shareholders' meeting, where Brian Niccol, Chairman and CEO of Chipotle, was elected as a director.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:51 pm