Streetbeat News

Corporate Responsibility

AIG

CRBG

AIG has met the requirements for the deconsolidation of Corebridge Financial for accounting purposes. AIG owns approximately 48.35% of Corebridge's common stock. The deconsolidation follows AIG's decision to waive its right to majority representation on Corebridge's Board of Directors and the resignation of Chris Schaper from Corebridge's Board.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 10:33 am

BITF

RIOT

Bitfarms' Board has unanimously approved a Shareholder Rights Plan to protect the integrity of its strategic alternatives review process. The plan allows Riot to proceed with an unsolicited take-over bid under Canadian securities laws and becomes exercisable if a person or related persons acquire 15% or more of Bitfarms' shares before September 10, 2024, or 20% thereafter without complying with the plan's provisions.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 10:05 am

VEON

VEON and its subsidiary Kyivstar have increased their investment commitment to $1 billion to rebuild Ukraine's digital services. This move aims to enhance the digital infrastructure in the region, which has been affected by ongoing conflicts.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 9:09 am

TSLA

Elon Musk has pledged to prioritize longtime shareholders of his companies, including Tesla, Inc. (NASDAQ:TSLA), in future IPOs of his private ventures. Venture capitalist Vinod Khosla responded by advocating for dividends for Tesla's long-term shareholders. Tesla currently does not offer dividends, making it an outlier among major tech companies.

Portfolio Pulse from Anan Ashraf

June 10, 2024 | 8:41 am

CMP

CVGW

FCEL

GLBS

YEXT

Key stocks to watch on Monday include Calavo Growers, Compass Minerals, FuelCell Energy, Globus Maritime, and Yext. Calavo Growers and Yext are expected to report earnings, while Compass Minerals announced a new CFO. FuelCell Energy and Globus Maritime reported mixed earnings results.

Portfolio Pulse from Avi Kapoor

June 10, 2024 | 6:08 am

LUV

Elliott Investment Management has acquired a nearly $2 billion stake in Southwest Airlines (NYSE:LUV) and plans to push for changes to address the airline's underperformance. Southwest's share price has dropped over 50% in the last three years, contrasting with the performance of other airlines. Elliott is known for driving significant changes in underperforming companies.

Portfolio Pulse from Benzinga Neuro

June 10, 2024 | 2:15 am

TSLA

Elon Musk is urging Tesla shareholders to vote on their shares, offering a tour of Tesla's Texas facility as an incentive. This comes as the board seeks approval for Musk's $56 billion compensation package. Musk criticized the influence of proxy advisory firms ISS and Glass Lewis, and highlighted the challenges shareholders face in voting due to institutional complications.

Portfolio Pulse from Bibhu Pattnaik

June 09, 2024 | 3:58 pm

NKLA

Trevor Milton, the convicted founder of Nikola Corp (NASDAQ:NKLA), has filed a multi-billion dollar derivative lawsuit against the company's current chief legal officer Britton Worthen and its directors, alleging malpractice. Milton claims that Worthen was responsible for the controversial 'Nikola One in Motion' video and that the company destroyed evidence that could prove his innocence.

Portfolio Pulse from Anan Ashraf

June 08, 2024 | 4:25 am

CLIR

ClearSign Technologies announced that the position of Chairman of the Board has been vacated, effective immediately, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 9:33 pm

CEAD

111 Equity Group plans to continue discussions with CEA Industries about business operations, financial condition, and strategic plans, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 9:30 pm