Streetbeat News

Corporate Responsibility

TECK

Glencore has postponed discussions on spinning off its coal business until after the closure of its $6.93 billion acquisition of Teck Resources' steelmaking coal assets. The decision to potentially spin off the coal unit will be influenced by shareholder consultations, especially considering environmental and social governance concerns.

Portfolio Pulse from Stjepan Kalinic

May 30, 2024 | 6:19 pm

TSLA

Elon Musk clarified on X that there have been no discussions about a role for him in a potential Trump presidency.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 5:53 pm

TKO

A former WWE employee has agreed to delay her lawsuit against Vince McMahon at the request of the DOJ, which is conducting its own investigation. McMahon has denied the claims and stepped down from his role at TKO Group Holdings Inc.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 5:37 pm

E

IYE

SEPLF

SHEL

TTE

XLE

XOM

Exxon Mobil Corporation (NYSE:XOM) is renewing its lease on its Lagos office while scaling down operations in Nigeria. The company is relocating staff to a smaller office and is nearing the closure of an asset sale to Seplat Energy (OTC:SEPLF). Other oil companies like Shell (NYSE:SHEL), TotalEnergies (NYSE:TTE), and Eni (NYSE:E) are also planning to exit Nigeria due to security concerns.

Portfolio Pulse from Lekha Gupta

May 30, 2024 | 4:49 pm

BAC

Bank of America CEO stated that any reduction in proposed capital rules would enable more stock buybacks.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 3:51 pm

EVBG

Everbridge, a crisis management software company, reported a corporate systems breach exposing business and user data. The breach was detected on May 21 and involved data accessed through a previous phishing attack. Everbridge is working with Mandiant and Stroz Friedberg to assess the impact and has urged customers to enable multi-factor authentication (MFA) by June 3, 2024. The company is also being taken private by Thoma Bravo in a $1.8 billion deal.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 3:48 pm

NKE

Nike is implementing layoffs in its Secret Sneaker Archive department as part of a $2 billion cost-cutting plan.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 2:33 pm

AAL

DAL

UAL

American Airlines CEO Robert Isom admitted that a recent strategy to cut sales staff and remove some fares from corporate booking channels backfired, leading to a loss of valuable corporate clients and a significant drop in revenue. The company is now reversing these changes and has enlisted Bain & Co. to reassess its approach. Shares of American Airlines fell 13.5% following the announcement, while Delta and United Airlines reported a 14% increase in corporate travel revenue.

Portfolio Pulse from Shivani Kumaresan

May 30, 2024 | 2:02 pm

META

Meta Platforms Inc.'s Instagram is expanding its 'Limits' feature to enhance user protection against online harassment, amid criticism over teen safety. This feature, initially for creators, is now available to all users and allows muting comments and direct messages from non-close friends. The move follows increased scrutiny from the U.S. government and a series of actions by Meta to improve child safety on its platforms.

Portfolio Pulse from Rounak Jain

May 30, 2024 | 1:38 pm

GTBIF

Illinois lawmakers failed to pass cannabis and hemp-related bills, leading to disappointment among cannabis industry advocates and relief among hemp growers. The Cannabis Equity Coalition of Illinois criticized Green Thumb Industries (OTCQX:GTBIF) for allegedly lobbying against medical marijuana access extensions.

Portfolio Pulse from Nina Zdinjak

May 30, 2024 | 1:16 pm