Streetbeat News

Corporate Responsibility

PARA

Paramount is reportedly considering the removal of CEO Bob Bakish amid deepening turmoil over discussions related to the company's sale, according to the Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 5:50 pm

XP

XP Inc. shares are experiencing an uptick following the announcement of Victor Mansur as the new CFO, effective from August 1.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 5:48 pm

IYG

JPM

XLF

JP Morgan Chase & Co. (NYSE:JPM) has opened a new Community Center branch in the Bronx, aiming to enhance financial access with a $5M investment. The branch, featuring modern design and technology, focuses on financial health through community engagement and advice. The construction was undertaken by Excel Construction, a local minority-owned firm. JPM's stock has seen a 43% increase over the past year, with first-quarter FY24 results showing a net revenue of $42.5 billion, an 8% increase year over year. Investors can also gain exposure to JPM through IShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).

Portfolio Pulse from Nabaparna Bhattacharya

April 26, 2024 | 5:33 pm

PSX

Phillips 66 CEO announced during a conference call that the company is on track to achieve $1 billion in cost reductions by 2024. This strategic move is aimed at enhancing efficiency and profitability.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 4:17 pm

NWL

Newell Brands Inc. (NWL) shares rose after reporting Q1 earnings at the break-even point, surpassing analyst expectations of a 7-cent loss. Q1 revenues of $1.653 billion also exceeded forecasts, despite an 8.4% drop in net sales year-over-year. The company saw improvements in gross and operating margins and increased operating cash flow. Newell announced an organizational realignment expected to save $65-$90 million annually, with $55-$70 million in savings in 2024. However, it forecasts a Q2 sales decline of 9%-7% and EPS below analyst expectations.

Portfolio Pulse from Nabaparna Bhattacharya

April 26, 2024 | 3:58 pm

CVX

Chevron's CEO announced during a conference call that the company has not yet received a timing schedule from the tribunal regarding the arbitration process.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:55 pm

CVX

Chevron's CEO announced during a conference call that the company has no plans to make new investments in California. This decision could signal a strategic shift or response to the state's regulatory environment.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:52 pm

GM

General Motors plans to shut down its manufacturing operations in Colombia and Ecuador, according to Reuters. This move could have implications for the company's South American strategy and overall operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:38 pm

WSM

Williams-Sonoma has agreed to pay a record civil penalty of $3.175 million for violating a previous order regarding its 'Made in USA' advertising claims, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:35 pm

LYB

LyondellBasell announced during a conference call that it plans to operate its Houston refinery at 95% capacity in the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:07 pm