Streetbeat News

Corporate Responsibility

CLIR

ClearSign Technologies Corporation (NASDAQ:CLIR) has received two purchase orders for the engineering of burners for two additional heaters at a California refinery, following the successful installation and startup of burners for two other heaters earlier this year. These orders, for which no financial terms were disclosed, are part of an ongoing relationship with the refinery, highlighting the refinery's commitment to meeting and exceeding California's clean air goals with ClearSign's technology.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:43 pm

ABAT

American Battery Technology Company (ABTC) has appointed Scott Smith, the former Head of FP&A Europe at Tesla, as its Vice President of Financial Planning and Analysis. This strategic hire is aimed at supporting ABTC's rapid growth and capital expansion projects.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:42 pm

M

RFV

VTI

Macy's Inc (NYSE:M) has mandated corporate staff to work in-office twice weekly, starting May 13, with non-compliance possibly leading to termination. This policy affects about one-third of its corporate workforce in New York City, including merchandising, marketing, and digital teams. The move reflects a broader trend towards in-office work in corporate America. Macy's stock, which has gained over 15% in the last 12 months, can be invested in through ETFs like Invesco S&P MidCap 400 Pure Value ETF (NYSE:RFV) and Vanguard Total Stock Market Index Fund ETF (NYSE:VTI).

Portfolio Pulse from Shivani Kumaresan

April 30, 2024 | 12:35 pm

ICU

SeaStar Medical has been awarded a $3.6 million grant from the National Institutes of Health (NIH) to study its Selective Cytopheretic Device (SCD) in adult patients with severe chronic heart failure. The study aims to explore the potential benefits of the SCD in treating this patient group.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:33 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) is proposing a reverse stock split to regain Nasdaq compliance and enhance financial stability. Chairman Steven Shindler addressed stockholder questions in a video, emphasizing the split's role in raising capital efficiently and attracting a broader investor base. The proposal is part of five to be voted on at the June 5, 2024, Annual Stockholder Meeting. NKLA encourages stockholder votes in favor, highlighting the move's potential to prevent delisting and reset financial foundations.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:29 pm

AKLI

Akili announced a significant reduction in its workforce by approximately 46%, which includes the elimination of the company's marketing and medical affairs teams. This move is part of a broader restructuring effort to streamline operations and reduce costs.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:22 pm

AKLI

Akili, Inc. (NASDAQ:AKLI) has amended its agreement with Shionogi, resulting in the cancellation and forgiveness of a $5M debt and the receipt of near-term cash payments totaling up to $18M for SDT-001, a digital ADHD treatment. Additionally, Akili is exploring strategic alternatives to maximize shareholder value, which includes a significant workforce reduction by 46% and a reduction in promotional activities. The company also plans to release its Q1 2024 financial results on May 14, 2024, without hosting an earnings call.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:21 pm

DUOT

Adrian Goldfarb is re-appointed as CFO of Duos Technologies, effective April 29, 2024. With over a decade of experience at Duos, Goldfarb has significantly influenced the company's financial strategies and relations with the investment community.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:11 pm

IPGP

IPG Photonics Corporation (NASDAQ:IPGP) announced the appointment of Mark Gitin as the next CEO effective June 5, 2024. Gitin, with over 30 years in the lasers and optics sector, currently oversees the Photonics Solutions Division at MKS Instruments, Inc. He succeeds Dr. Eugene Scherbakov, a co-founder of IPG, who will remain on the Board and serve as an advisor. The transition is part of IPG's strategic objectives to diversify revenue, invest in growth products, and enhance stockholder value. Dr. Scherbakov has significantly contributed to IPG's growth and strategic repositioning, including shifting manufacturing out of Russia and focusing on key markets.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:10 pm

EGRX

Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) announced it will present a Trial in Progress on its Phase 2/3 study of intravenous amisulpride for preventing postoperative nausea and vomiting in pediatric patients at the SAMBA 2024 Annual Meeting. The study targets patients from birth to 17 years and aims to share preliminary results in the second half of 2025.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:06 pm