Streetbeat News

Corporate Responsibility

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

LULU

Lululemon Athletica Inc (NASDAQ:LULU) shares are trading slightly higher following positive analyst coverage from Telsey Advisory Group. The company has seen several analysts adjust their price targets after announcing an updated operational structure following the resignation of its chief product officer. Lululemon is scheduled to report its first-quarter financial results on June 5.

Portfolio Pulse from Adam Eckert

May 30, 2024 | 1:16 pm

HBCP

Home Bancorp, Inc. (Nasdaq: HBCP) has appointed Mark C. Herpin as Senior Executive Vice President and Chief Operations Officer. Herpin brings extensive banking experience to the role.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 1:14 pm

PTLO

Portillo's has announced that its Chief Operating Officer, Derrick Pratt, will be departing from the company effective June 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 12:57 pm

SON

Sonoco Products has opened a new Sonoco Metal Packaging Technical & Engineering Center, which is expected to enhance their capabilities in metal packaging solutions.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 12:44 pm

RNXT

RenovoRx's CEO updated shareholders on the company's progress in Q1 2024, highlighting significant milestones, including $17.2 million raised, advancements in the Phase III TIGeR-PaC clinical trial, and the expansion of their TAMP therapy platform. Key management promotions and supportive research publications were also noted.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 12:42 pm

BBY

Best Buy (NYSE: BBY) reported Q1 adjusted EPS of $1.20, beating expectations, but missed on sales with $8.85 billion. The company faced a 6.8% decline in domestic revenue and incurred $15 million in restructuring charges. Despite challenges, CEO Corie Barry remains confident in strengthening positions in key categories. BBY shares rose 6.40% premarket.

Portfolio Pulse from Anusuya Lahiri

May 30, 2024 | 12:29 pm