Streetbeat News

Corporate Responsibility

NSC

Norfolk Southern Corporation (NYSE:NSC) shareholders voted to retain CEO Alan Shaw, rejecting an activist investor's plan for a management overhaul. Ancora Holdings criticized Norfolk's performance and response to a train derailment, seeking board control and CEO replacement. Despite this, Shaw and 10 other nominees were elected to the board, alongside three Ancora nominees. NSC shares dropped 2.9% following the vote.

Portfolio Pulse from Nabaparna Bhattacharya

May 09, 2024 | 2:37 pm

NBIX

Neurocrine Biosciences presented data from the CAHtalyst adult study at AACE 2024, highlighting the need for new treatments to reduce adrenal androgens and supraphysiologic glucocorticoid dosing in CAH adult patients. The study also reviewed the psychological and cognitive impacts of high glucocorticoid doses in CAH patients.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:49 pm

BABA

ONLN

PGJ

Alibaba Group Holding Limited (NYSE:BABA) announced the release of its new AI model, Tongyi Qianwen Qwen2.5, through Alibaba Cloud, claiming superior language skills over OpenAI's GPT-4. The model has seen over 90,000 deployments and aims to leverage the surge in generative AI development. Despite outperforming GPT-4 in language creation, it may lag in other areas. Alibaba Cloud has attracted over 2.2 million corporate users for its AI services and has made significant price cuts in its cloud services. Alibaba's stock is accessible through ETFs like the Invesco Golden Dragon China ETF (NASDAQ:PGJ) and the ProShares Online Retail ETF (NYSE:ONLN).

Portfolio Pulse from Anusuya Lahiri

May 09, 2024 | 1:42 pm

EHAB

AREX Capital Management, holding approximately 4.8% of Enhabit, Inc. (EHAB) shares, expressed disappointment in the conclusion of Enhabit's strategic review, which ended without a sale. AREX criticized Enhabit's Board for the company's underperformance and nominated seven directors to enhance operational expertise in home health and hospice, aiming to improve shareholder value.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:40 pm

CAPR

Capricor Therapeutics announced it will present new preclinical data on its StealthX exosome platform at the ASGCT 27th Annual Meeting, highlighting its potential in treating arginase-1 deficiency (ARG1-D), a rare genetic metabolic disease. The findings suggest the platform's capability for enzyme-replacement therapies, aiming to replace deficient or absent enzymes. The company aims to leverage partnerships to advance therapeutic and vaccine development using this technology.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:39 pm

MULN

Mullen Automotive, Inc. (MULN) has been granted Foreign Trade Zone status by the U.S. Department of Commerce for its facility in Tunica, Mississippi. This approval allows Mullen to defer payments on import duties, potentially deferring up to $21 million in outlays for FY2024 and FY2025, improving cash flow.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:36 pm

TTEK

Tetra Tech, Inc. (NASDAQ:TTEK) has acquired Convergence Controls & Engineering, enhancing its digital water and energy practices. This acquisition brings in expertise in process automation, systems integration, and cybersecurity, aligning with Tetra Tech's Leading with Science approach to offer integrated automation platforms for real-time data visualization and analytics. The terms of the acquisition were not disclosed, and Convergence will join Tetra Tech's Government Services Group.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:31 pm

CDZI

Cadiz, Inc. has partnered with MZ Group to enhance its investor relations and financial communications strategy. This move comes at a critical inflection point under the new leadership of Susan Kennedy, highlighted by significant permitting and contracting milestones. Additionally, a recent Form 4 filing revealed the CEO's purchase of Cadiz shares, aligning interests with shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:30 pm

NITO

N2OFF has achieved a significant milestone in reducing agriculture's environmental impact, with a recent greenhouse study showing a reduction of emissions by up to 54%, an improvement over the previous reduction of up to 44%.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:29 pm

LII

Lennox (NYSE:LII) has announced the rollout of low global warming potential (GWP) HVAC products for both commercial and residential use, in line with the 2025 low GWP Refrigerant regulations. These products, utilizing R-454B refrigerant, aim to reduce global warming potential by up to 78%, emphasizing Lennox's commitment to sustainability and reducing energy consumption.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:26 pm