Streetbeat News

Corporate Responsibility

MS

Morgan Stanley Executive Chairman James Gorman will step down on December 31, as announced during the annual meeting of shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 1:08 pm

IYE

XLE

XOM

Exxon Mobil Corporation (NYSE:XOM) has won the first round in a lawsuit against climate activist groups Arjuna Capital and Follow This. A U.S. judge allowed Exxon to continue its case against Arjuna Capital but not against Follow This, which is based in the Netherlands. The legal battle highlights the tension between shareholder interests and environmental concerns in the energy sector.

Portfolio Pulse from Lekha Gupta

May 23, 2024 | 1:06 pm

JPM

JPMorgan Chase & Co. (NYSE:JPM) is facing a $100 million settlement with the CFTC for trade reporting failures. The bank has agreed to acknowledge violations of the agency’s regulations. This follows a previous $348.2 million settlement with U.S. bank regulators for related issues. JPMorgan's CEO, Jamie Dimon, also commented on the potential for a 'hard landing' for the U.S. economy.

Portfolio Pulse from Nabaparna Bhattacharya

May 23, 2024 | 12:59 pm

KULR

KULR Technology Group, Inc. (NYSE:KULR) announced that its CEO, Michael Mo, voluntarily requested a 33% reduction in the cash component of his compensation, opting instead for an equity incentive grant. Additionally, KULR reduced its operating and investment cash usage by 23% in Q1 2024 compared to Q1 2023.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:46 pm

HPE

Hewlett Packard Enterprise (HPE) announced its decision to divest its Communications Technology Group to HCLTech. This move is part of HPE's strategy to focus on its core businesses. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:40 pm

MICS

The Singing Machine Company, Inc. (NASDAQ: MICS) has announced that its Executive Committee has authorized management to explore a range of potentially transformational corporate transactions. The aim is to expand beyond its current consumer electronics karaoke business into areas like disruptive software solutions and sustainability-centric technologies.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:17 pm

CRSP

CRISPR Therapeutics (NASDAQ:CRSP) has announced key executive appointments: Naimish Patel, M.D., as Chief Medical Officer effective May 28, 2024, and Julianne Bruno, M.B.A., promoted to Chief Operating Officer effective May 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:17 pm

RL

Ralph Lauren's board has approved a 10% increase in its quarterly dividend, raising it to $0.825 per share.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:05 pm

RL

Ralph Lauren has appointed Justin Picicci as the new Chief Financial Officer (CFO), while Jane Nielsen will continue to serve as Chief Operating Officer (COO) through the end of fiscal year 2025.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:04 pm

PFE

Pfizer Inc. (NYSE:PFE) has initiated a multi-year cost reduction plan targeting $1.5 billion in savings by 2027. This follows a $4 billion cost reduction plan announced last year. The initiative aims to enhance operational efficiencies and improve the product portfolio amid declining sales from COVID-19 treatments. The program will incur one-time charges of $1.7 billion, mainly for severance and implementation costs, with cash outlays expected in 2025 and 2026. Pfizer's shares rose 2.6% following the announcement but remain down about 24% over the past year.

Portfolio Pulse from Benzinga Neuro

May 23, 2024 | 11:31 am