Streetbeat News

Corporate Responsibility

ZFOX

ZeroFox Holdings, Inc. has announced significant leadership changes. Founder James C. Foster will become Executive Chairman, David Muse has been appointed CEO, Andrew McKenna is the new CFO, and James McCarthy will join as CRO effective June 3, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 5:04 pm

GOOG

GOOGL

John Abbot has been appointed as the first Chief Financial Officer of Google Fiber, a subsidiary of Alphabet Inc. This strategic hire is expected to enhance the financial management and growth prospects of Google Fiber.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 4:39 pm

PBR

Petrobras' stock rose following the appointment of Magda Chambriard as the new CEO. Chambriard emphasized the importance of exploring Brazil's Equatorial Margin for oil reserves, despite environmental challenges. Petrobras' recent Q1 FY24 sales and earnings missed expectations.

Portfolio Pulse from Lekha Gupta

May 28, 2024 | 3:23 pm

AAP

Advance Auto Parts (NYSE:AAP) is set to release its first-quarter financial results, with analysts expecting a slight decrease in earnings per share and a marginal increase in revenue. The company recently appointed three new independent directors and entered into a cooperation agreement with Third Point LLC and Saddle Point Management, L.P. Analysts have provided mixed ratings, with price targets ranging from $62 to $78.

Portfolio Pulse from Avi Kapoor

May 28, 2024 | 3:14 pm

TXN

Elliott Management has acquired a $2.5 billion stake in Texas Instruments (NASDAQ: TXN) and is advocating for a more flexible capital expenditure approach to enhance free cash flow. Elliott's letter to the Board of Directors suggests that Texas Instruments' current Capex plan has significantly reduced free cash flow and shareholder returns. The hedge fund believes that adopting a dynamic capacity-management strategy could increase free cash flow to over $9 per share by 2026, exceeding current analyst consensus by around 40%.

Portfolio Pulse from Nabaparna Bhattacharya

May 28, 2024 | 3:07 pm

AIQUY

PEP

Western firms like Avon Products, Air Liquide, and Reckitt are facing significant challenges in exiting Russia due to rising costs, bureaucratic hurdles, and geopolitical tensions. Despite the complications, some companies like PepsiCo and Coca-Cola Hellenic continue to operate successfully in the region.

Portfolio Pulse from Benzinga Neuro

May 28, 2024 | 2:53 pm

PLAB

Photronics, Inc. (NASDAQ:PLAB) has appointed Eric Rivera as its new Chief Financial Officer, effective immediately. Rivera has been with the company since 2020, previously serving as interim CFO and Chief Accounting Officer.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 2:01 pm

TSLA

Elon Musk's direct involvement in hiring and firing at Tesla and other companies has drawn criticism and legal scrutiny. Experts suggest that better management practices could improve financial performance without hurting profits. Despite mass layoffs, Tesla has seen an increase in job applications and is focusing on hiring for Autopilot and robotics.

Portfolio Pulse from Benzinga Neuro

May 28, 2024 | 1:55 pm

IYE

XLE

XOM

A group of 40 large institutional investors, managing $4.4 trillion in assets, urged companies to avoid suing shareholders over proposal disagreements, using Exxon Mobil's lawsuit as an example. They argue that such actions could deter sustainability-related proposals, impacting long-term investor interests.

Portfolio Pulse from Lekha Gupta

May 28, 2024 | 1:19 pm

TUYA

Tuya Inc (NYSE:TUYA) shares rose by 7% to $2.13 after the company announced its membership in the United Nations Global Compact (UNGC), highlighting its commitment to corporate social responsibility and sustainable development.

Portfolio Pulse from Henry Khederian

May 28, 2024 | 1:11 pm