Streetbeat News

Corporate Responsibility

IONQ

IonQ has announced the appointment of Peter Chapman as the next Chairman of its Board of Directors, alongside the hiring of Harry You as the Lead Independent Director of the Board. These strategic leadership changes aim to strengthen the company's governance and strategic direction.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:33 am

CMG

PBJ

VTI

Chipotle Mexican Grill Inc (NYSE:CMG) temporarily requested employees to avoid ordering chicken to preserve supply for customers due to high demand, particularly after the reintroduction of chicken al pastor. The directive, which was not a mandate, has been lifted within a week. This decision came amidst reports of increased sales and a successful first quarter, with revenue up 14.1% year-over-year and adjusted earnings surpassing analyst estimates. The stock has seen over a 54% gain in the last 12 months. Investors can also gain exposure to CMG through ETFs like Vanguard Total Stock Market ETF (NYSE:VTI) and Invesco Food & Beverage ETF (NYSE:PBJ).

Portfolio Pulse from Shivani Kumaresan

April 26, 2024 | 11:20 am

IYT

JETS

LUV

Southwest Airlines Co (NYSE:LUV) is considering abandoning its open seating policy for assigned seats and premium options to attract younger travelers. This marks a significant shift from its traditional model since 1971. The decision is part of a broader strategy to meet evolving customer expectations, with an official announcement expected in September. Additionally, Southwest announced the closure of operations at four airports. The company's stock has declined over 11% in the past year, impacting investors in LUV and related ETFs like U.S. Global Jets ETF (NYSE:JETS) and iShares U.S. Transportation ETF (BATS:IYT).

Portfolio Pulse from Shivani Kumaresan

April 26, 2024 | 11:12 am

SATS

EchoStar Corporation announced that its subsidiary, Hughes Network Systems, has opened a new manufacturing facility and private 5G incubation center in Germantown, Maryland. This move aims to boost local talent and expand the company's capabilities in the 5G domain.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:11 am

XP

XP Inc. has announced Victor Mansur as its new CFO, effective August 1, 2024, taking over from Bruno Constantino. Constantino will transition to an advisory role for 12 months and remain on the Board of Directors. André Parize has been promoted to Chief Investor Relations Officer, also effective August 1, 2024, and will report to Mansur.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:07 am

PSX

Phillips 66 aims to increase its mid-cycle adjusted EBITDA to $14 billion by 2025 and return over 50% of operating cash flow to shareholders. The company has already distributed $9.9 billion through share repurchases and dividends since July 2022, targeting $13 billion to $15 billion by the end of 2024. It also plans to divest assets not fitting its long-term strategy, including its retail marketing business in Germany and Austria.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:03 am

OCGN

Ocugen announced its plans to present on its Modifier Gene Therapy Platform at the Association for Research in Vision and Ophthalmology 2024 Annual Meeting. This presentation could highlight Ocugen's advancements in ophthalmology and potentially impact its visibility and credibility in the biotech and healthcare sectors.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 10:36 am

AULT

Ault Alliance announced the termination of the marketing process for its four hotels owned by Ault Global Real Estate Equities (AGREE), a wholly owned subsidiary. Consequently, AGREE's assets and liabilities, previously classified as held for sale, will now be considered as held and used. This reclassification affects $91.0 million in assets and $70.4 million in liabilities as of December 31, 2023, which will be moved from discontinued to continuing operations in future financial statements.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 10:34 am

MLCO

Melco Resorts & Entertainment announced its sixth sustainability strategy, 'RISE to go Above & Beyond' for 2023, focusing on sustainability and supporting SMEs in Macau with over $1.1M generated through 13 Heart Of House Roadshows with 257 participating SMEs. The strategy emphasizes on restoring the world, inspiring communities, sustaining the supply chain, and empowering the business.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 10:13 am

GGR

Gogoro, in partnership with Nebula Energy, has launched a battery swapping ecosystem and the Gogoro Crossover Smartscooter in Nepal. This marks a significant expansion of Gogoro's international footprint, introducing its innovative battery swapping technology to the Nepalese market. The move is part of Gogoro's strategy to enhance urban mobility and reduce carbon emissions through its smart scooters and energy network.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:43 am