Streetbeat News

Corporate Responsibility

PTON

Peloton announced that CEO Barry McCarthy will step down, and Karen Boone and Chris Bruzzo will take over as Co-CEOs. This leadership change could signal a new strategic direction for Peloton.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 11:03 am

GOOG

GOOGL

Alphabet Inc's Google has cut approximately 200 roles and is relocating some positions to India and Mexico as part of a cost-cutting strategy. The layoffs affect the core team responsible for Google's main products, including IT, Python development, security, and various engineering sectors. Google plans to hire in India and Mexico to fill these roles. This move is part of Alphabet's broader plan to reduce its workforce by about 12,000 jobs, or 6%, due to a downturn in the online advertising market.

Portfolio Pulse from Shomik Sen Bhattacharjee

May 02, 2024 | 10:57 am

ZOM

Zomedica has announced the issuance of three new patents, enhancing the intellectual property protection for its TRUFORMA diagnostic platform. This development could strengthen Zomedica's market position by safeguarding its proprietary technology, potentially leading to increased investor confidence and market competitiveness.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:41 am

FRSH

Freshworks shares are trading lower following the announcement of Q1 financial results and a CEO transition.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:33 am

MRAI

Marpai, Inc. has initiated a cost reduction program and subleased one of its properties, aiming to save $3 million annually and strengthen its financial position.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:11 am

CGNX

Cognex Corporation, a leader in machine vision for automation, announced Dennis Fehr as the new CFO effective May 3, 2024. Fehr will oversee global finance and IT.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:11 am

EBS

Emergent Biosolutions shares surged following the announcement of operational changes aimed at stabilizing its financial position, alongside the release of its Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:06 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) is seeking shareholder reapproval for CEO Elon Musk's 2018 compensation plan, previously voided by a Delaware court. Environmental expert Eric Roesch criticized the plan as excessive, highlighting its disproportion to Tesla's financials. Tesla's revenue and net income have significantly grown, with the company aiming for a shareholder vote on the compensation package, now valued at $44.9 billion. The upcoming shareholder meeting is expected to be contentious due to recent stock performance and the magnitude of Musk's proposed payout.

Portfolio Pulse from Shanthi Rexaline

May 02, 2024 | 9:55 am

PLTR

Palantir Technologies Inc. CEO Alex Karp highlighted the American tech industry's inclusivity, emphasizing its tolerance for diverse personalities as long as they deliver results. He shared his experiences as a 'hyper inexplicably dyslexic outsider' and credited his success to the industry's openness and co-founder Peter Thiel's support. Despite making controversial jokes at a Capitol Hill forum, Karp's leadership has been praised, and Palantir's stock surged after reporting a 20% revenue increase in its fourth-quarter earnings.

Portfolio Pulse from Ananya Gairola

May 02, 2024 | 7:59 am

CLVT

Clarivate Plc (NYSE:CLVT) announced the launch of an enhanced Cortellis CMC Intelligence solution with a new post-approval variations module to streamline regulatory tracking for pharmaceutical, biotech, and generics companies.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:26 am