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Corporate Responsibility

AMAL

Amalgamated Financial Corp. (NASDAQ:AMAL) has completed three community solar projects in Oregon and expects to complete three more by Q3 2024. The projects, financed by a $25 million construction term facility to SolRiver Capital, aim to commence commercial operations soon. This initiative is part of Amalgamated's commitment to sustainable lending and the Oregon Community Solar Program, which offers energy at fixed prices to subscribers, including low to moderate income households.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:34 pm

HRTG

Heritage Insurance Holdings, Inc. (HRTG) has successfully placed its 2024-2025 catastrophe excess-of-loss reinsurance program, with a total consolidated cost of approximately $422.3 million. This program is designed to provide coverage for Heritage's insurance subsidiaries and includes a mix of traditional reinsurance and catastrophe bonds issued by Citrus Re. The program replaces the Florida Reinsurance to Assist Policyholders (RAP) program and includes specific exhaustion points for different regions. The company has also maintained participation in the Florida Hurricane Catastrophe Fund at 90%.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:32 pm

NSC

Norfolk Southern CEO Alan Shaw expressed disagreement with Glass Lewis' decision to side with activist investor Ancora, as reported by CNBC.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:31 pm

BLND

Blend Labs, Inc. (NYSE:BLND) has announced a strategic partnership with Haveli Investments, including a $150 million investment in convertible preferred stock with a 0% coupon. Blend will use approximately $145 million to repay its existing credit agreement, enhancing its financial position for long-term growth. Brian Sheth, Haveli's Chief Investment Officer, will join Blend's Board of Directors, signaling confidence in Blend's growth strategy and its role in transforming financial services.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:29 pm

ST

Sensata Technologies announced CEO Jeff Cote's retirement and the appointment of Martha Sullivan as Interim President and CEO. The company also entered into cooperation and information sharing agreements with Elliott and formed a CEO Search Committee to find a permanent CEO. Phillip Eyler was appointed to the Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:22 pm

FLXS

Flexsteel Industries announced the appointment of Derek P. Schmidt as President and CEO, effective July 1, 2024. He will succeed Jerald K. Dittmer, who will resign as CEO on June 30, 2024, and retire from the company on December 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:21 pm

RYAM

Rayonier Advanced Materials Inc. (RYAM) will suspend operations at its Temiscaming High Purity Cellulose plant from July 2, 2024, due to market conditions, high costs, and to improve cash flow and financial performance. The suspension will reduce global HPC production and result in 275 layoffs, but does not affect RYAM's paperboard and high-yield pulp plants.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:20 pm

CHGG

Chegg has announced the appointment of Nathan Schultz as its new Chief Executive Officer, effective June 1. This leadership change could signal a new strategic direction for the company.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:11 pm

PARA

Paramount Global announces leadership changes with Bob Bakish stepping down. George Cheeks, Chris McCarthy, and Brian Robbins appointed to lead as Office of the CEO. The new leadership aims to accelerate growth, streamline operations, and optimize streaming strategy. Paramount Global's Board expresses confidence in the new leaders' ability to enhance company performance and value creation.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:01 pm

PARA

PARAA

Paramount Global announced that Bob Bakish, the President and CEO, is stepping down from his role as CEO and from the board. This leadership change could signal a strategic shift or management restructuring within the company.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:01 pm