Streetbeat News

Corporate Responsibility

NSC

The Brotherhood of Locomotive Engineers and Trainmen (BLET) General Chairmen, representing members at Norfolk Southern Corporation (NYSE:NSC), criticized CEO Alan Shaw for his attacks on labor discussions, labeling them as unfounded and desperate. They accused Shaw of misrepresenting discussions with Ancora nominees and the record of Jim Barber, an Ancora nominee with a positive history of union relations at UPS. The BLET leaders, who initially supported Shaw, have shifted their support to Ancora and its nominees due to Shaw's inconsistent strategies and attacks on labor.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:42 pm

CLLS

Cellectis (NASDAQ:CLLS), a clinical-stage biotechnology company, announced the resignation of CFO Bing Wang and the appointment of Arthur Stril as interim CFO. Stril, who joined Cellectis in 2018 and served as Chief Business Officer since 2020, will oversee finance, investor relations, and continue his business development role. The company praised Wang's contributions and expressed confidence in Stril's capabilities to support Cellectis' growth and clinical trials advancement.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:35 pm

KIDS

OrthoPediatrics Corp. (NASDAQ:KIDS) announced receiving the FDA's "Breakthrough Device" designation for its eLLi Growing Rod System, aimed at treating Early Onset Scoliosis (EOS). This designation expedites the development and review of medical devices that offer more effective treatments for life-threatening or irreversibly debilitating diseases. The eLLi system provides a non-invasive means to extend growing rods with increased force, enhanced mechanical reliability, and superior distraction precision, addressing safety concerns of current technologies.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:12 pm

SXI

Standex expressed optimism about the long-term secular trends in its fast growth end markets, indicating a positive outlook for the company's future.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:05 pm

EBS

Emergent BioSolutions, Inc. (NYSE:EBS) reported Q1 earnings of 59 cents per share, surpassing analyst expectations of an 83-cent loss, with sales of $300.4 million beating estimates by 33.81%. The company announced operational changes including facility closures and workforce reductions expected to save $80 million. Emergent raised its 2024 revenue guidance to $1 billion-$1.1 billion. Shares closed 70.9% higher at $3.30.

Portfolio Pulse from Erica Kollmann

May 02, 2024 | 8:55 pm

QGEN

QIAGEN (NYSE:QGEN) announced the launch of QCI Secondary Analysis, a cloud-based SaaS solution for high-throughput secondary analysis of clinical next-generation sequencing (NGS) data. This service supports all QIAGEN QIAseq panels and integrates with QCI Interpret for scalable and customizable workflows in oncology and inherited disease applications. The solution aims to make NGS testing more accessible, especially for small- to mid-size labs, by simplifying the bioinformatics pipeline and minimizing resource investment.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 8:48 pm

EMKR

EMCORE Corporation (NASDAQ:EMKR) has sold its Chips business and indium phosphide wafer fabrication operations to HieFo Corporation for $2.92 million, including the assumption of certain liabilities. The sale, effective April 30, 2024, includes assets like equipment, contracts, IP, and inventory. HieFo, led by former EMCORE VP Dr. Genzao Zhang, will continue operations at EMCORE's Alhambra site, focusing on telecom, datacom, and AI connectivity industries.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 8:40 pm

BRK.A

BRK.B

The Berkshire Hathaway Inc annual shareholders meeting on May 4 will publicly broadcast its secret movie for the first time, potentially as a tribute to the late Charlie Munger. The event in Omaha, Nebraska, known as "Woodstock for Capitalists," will feature the movie on CNBC and webcast, marking a departure from its traditional private viewing. This change is seen as a significant tribute to Munger, who passed away in November at 99.

Portfolio Pulse from Chris Katje

May 02, 2024 | 7:54 pm

ALK

BA

SPR

Boeing Co (NYSE:BA) shares rose despite another whistleblower's sudden death, amid broader market gains following the Fed's decision to maintain interest rates. The deceased, a former Spirit AeroSystems (NYSE:SPR) quality auditor, had raised safety concerns about Boeing's 737 Max, which previously faced scrutiny after an Alaska Air Group (NYSE:ALK) plane lost an emergency door. This incident adds to Boeing's ongoing safety and legal challenges, including a criminal investigation and potential DOJ penalties.

Portfolio Pulse from Natan Ponieman

May 02, 2024 | 7:37 pm

AKAM

Dan Hesse, former CEO of Sprint, discussed his leadership and the company's turnaround on the 'Raz Report' podcast. He emphasized the importance of merging cultures post-Sprint and Nextel merger and his focus on accountability. Hesse, now chairman of Akamai Technologies (NASDAQ:AKAM), shared insights from his career journey, from cleaning sewers to leading tech companies.

Portfolio Pulse from Chris Katje

May 02, 2024 | 6:34 pm