Streetbeat News

Corporate Responsibility

GM

General Motors (GM) reported $878M in cash outflows due to a voluntary separation program, which was nearly complete by March 31, 2024. Additionally, GM anticipates its subsidiary, Cruise, will need more liquidity for the development of autonomous vehicle (AV) technology through the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 7:38 pm

SPY

The Federal Trade Commission (FTC) has announced a new rule that bans noncompete clauses, which could significantly impact the labor market and potentially affect the competitiveness and operational strategies of companies across various sectors. This rule may lead to increased mobility of skilled workers and could influence innovation and competition dynamics.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 7:22 pm

EVO

Evotec SE announced the appointment of Dr. Christian Wojczewski as its new CEO, effective July 1, 2024. This strategic leadership change is aimed at steering the company towards new growth opportunities and enhancing its position in the biotechnology sector.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 7:03 pm

RNST

Renasant Corporation has announced the appointment of Kevin Chapman as the CEO of both the company and Renasant Bank, effective May 2025. This strategic leadership transition is expected to guide the company through its next phase of growth and development.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:58 pm

LHX

U.S. defense contractor L3Harris plans to cut 5% of its workforce this year as a cost-saving measure, according to an email obtained by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:56 pm

GM

The United Auto Workers (UAW) announced that Aramark workers, servicing General Motors (GM), will receive retroactive back pay from March 15, the day the previous contract expired. Additionally, the UAW successfully negotiated a reduction in the time required for Aramark workers at GM facilities to reach the top wage rate, marking a significant gain for sanitation workers.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:49 pm

GM

The United Auto Workers (UAW) announced a historic tentative agreement for General Motors Aramark workers, which includes raises of up to 43% over the three-year term of the proposed deal. This agreement is seen as a significant win for sanitation workers, setting a new standard in the industry.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:45 pm

UNH

UnitedHealth Group CEO, Andrew Witty, is scheduled to attend a U.S. Senate Committee on Finance hearing on April 30, 2024, to discuss the Change Healthcare cyber attack and its implications for the future of healthcare cybersecurity.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:13 pm

CRM

FEPI

INFA

MRAD

Salesforce Inc (NYSE:CRM) is advocating for increased environmental regulation on AI, emphasizing the need for standardized emissions reporting due to the technology sector's high energy usage. The company announced its intention to push for legislation that mandates AI emissions disclosure. Additionally, Salesforce ended acquisition talks with Informatica Inc (NYSE:INFA) due to disagreements on merger terms. Salesforce stock has seen a 41% gain in the last 12 months, with exposure available through ETFs like FEPI and MRAD.

Portfolio Pulse from Anusuya Lahiri

April 23, 2024 | 5:36 pm

META

Elon Musk's social media platform X, formerly Twitter, announced the launch of the X TV App, aiming to offer real-time, engaging content on smart TVs. CEO Linda Yaccarino highlighted the app's focus on a high-quality, immersive entertainment experience. The app will allow for a cross-device experience and personalized video organization. Musk criticized Meta Inc.'s Instagram, particularly for its logo watermark on Reels. Hyundai halted its advertising on X due to the appearance of pro-Nazi content, and Pakistan blocked access to X citing national security concerns.

Portfolio Pulse from Lekha Gupta

April 23, 2024 | 5:30 pm