Streetbeat News

Corporate Responsibility

MSFT

Xbox President Sarah Bond discussed the closure of four Microsoft studios, emphasizing the necessity for the long-term health of the Xbox business. The closures are part of a broader strategy to navigate industry transitions, despite the gaming community's shock and concerns over stagnant growth and rising development costs. Microsoft's recent acquisitions and the challenges facing its gaming business, including declining revenue and stagnant subscriber growth, underscore the strategic decisions behind studio closures.

Portfolio Pulse from Franca Quarneti

May 13, 2024 | 2:12 pm

PHG

The FDA has announced that Philips Respironics is recalling its Trilogy Evo Continuous Ventilators due to a potential power malfunction related to software issues. This recall highlights a significant safety concern that could impact patient care and reflects on Philips' commitment to product safety and regulatory compliance.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 2:11 pm

PDD

The Wall Street Journal reported that Temu, after investing billions, is cooling off on its expansion efforts in the U.S. market. This strategic shift could indicate a reassessment of its aggressive growth plans in the face of various challenges. PDD Holdings, Temu's parent company, may experience implications from this decision.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 1:42 pm

SQSP

Squarespace, Inc. (NYSE:SQSP) has announced a privatization deal with Permira, valued at over $6.6 billion in equity and approximately $6.9 billion in enterprise value. Stockholders will receive $44.00 per share, a premium over recent trading prices. CEO Anthony Casalena, along with major investors General Atlantic and Accel, support the deal. Casalena will remain CEO and a significant shareholder post-transaction.

Portfolio Pulse from Akanksha Bakshi

May 13, 2024 | 1:21 pm

MNY

MoneyHero, a financial technology company, has appointed Hao Qian as its new Chief Financial Officer (CFO).

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 1:08 pm

APDN

The Institute of Hematology and Blood Transfusion will present its use of Applied DNA's Linea DNATM technology for the non-viral manufacture of CAR T-cell therapy aimed at treating refractory AML. This showcases a significant application of Applied DNA's technology in advancing cancer treatment.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 1:01 pm

CCLD

CareCloud has announced its decision to retain an investment bank to review and evaluate the terms of its Series A Preferred Stock. The aim is to make recommendations to the board that could benefit both the company and its shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:46 pm

KD

Kyndryl has announced strategic portfolio optimization moves, including the acquisition of Skytap. No financial terms were disclosed for the transaction, and it is stated to have no impact on Kyndryl's financial outlook for FY25.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:44 pm

AREC

American Resources Corporation (AREC) through its subsidiary ReElement Technologies, announced a strategic partnership with LVC Global Holdings to enhance metal refining and recycling in Africa. This collaboration aims to redefine refining and recycling practices for rare earth and critical minerals in Emerging & Frontier Markets, particularly in Sub-Saharan Africa, by leveraging innovative technology and market expertise.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:42 pm

GNPX

Genprex has announced the appointment of Jose A. Moreno Toscano as the new Chairman of its Board of Directors. This strategic move aims to leverage Toscano's extensive experience in the pharmaceutical industry to guide Genprex's future growth and development.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:39 pm