Streetbeat News

Corporate Responsibility

ADM

FTRI

FTXG

Archer-Daniels-Midland Company (ADM) shares fell after CFO Vikram Luthar announced his resignation effective September 30, 2024. Luthar, who was placed on leave in January 2024 amid an accounting probe in the Nutrition division, will remain as a non-executive employee to aid in the transition. The company recently reported Q4 FY23 revenues and adjusted EPS that missed consensus estimates. Investors can also gain exposure to ADM through ETFs like FTXG and FTRI.

Portfolio Pulse from Lekha Gupta

April 23, 2024 | 4:32 pm

KKR

German media company Axel Springer, owner of Insider and Politico, is reportedly considering acquiring The Wall Street Journal to expand its U.S. presence. This ambition aligns with CEO Mathias Döpfner's growth plans in the U.S. amidst the evolving role of AI in journalism. The company's expansion efforts are also aimed at enhancing returns for its largest shareholder, KKR & Co. However, a conflict with investor Bill Ackman over Insider's coverage could divert resources, potentially affecting growth. Axel Springer's past political engagements, including relationships with figures from the Trump administration, highlight its complex position in U.S. media politics.

Portfolio Pulse from Chris Katje

April 23, 2024 | 4:31 pm

JPM

SPY

JPMorgan CEO advocates for the inclusion of 'practitioners' in government decision-making, suggesting that their expertise could lead to more effective governance. This statement underscores the importance of industry experience in shaping policies that impact the financial sector and the broader economy.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 4:29 pm

FXI

JPM

SPY

JPMorgan CEO Jamie Dimon, speaking at the Economic Club of New York, described the current geopolitical situation as the most complicated and dangerous since World War II, highlighting the complexity of the U.S.-China relationship. He mentioned the possibility of stagflation reoccurring but also noted that the U.S. economy is currently booming.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 4:25 pm

APD

EWC

Air Products announced plans to build a network of commercial-scale multi-modal hydrogen refueling stations between Edmonton and Calgary, Alberta, Canada. This initiative aligns with Canada's climate and energy goals and supports the 5,000 Hydrogen Vehicle Challenge.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 4:21 pm

INNPF

Innocan Pharma Corporation has initiated the FDA approval process for its Liposome-Cannabidiol (LPT-CBD) injectable treatment for chronic pain by submitting a Pre-IND meeting letter. The company's LPT-CBD technology, which has shown efficacy in pre-clinical trials, represents a significant step towards offering a non-opioid alternative for pain management. With the opioid crisis escalating, Innocan's therapy could provide a safer option for patients, tapping into a market expected to exceed $100 billion by 2032.

Portfolio Pulse from Jelena Martinovic

April 23, 2024 | 2:24 pm

SBUX

The U.S. Supreme Court is set to hear a case from Starbucks Corp. (NASDAQ:SBUX) challenging the National Labor Relations Board's decision to reinstate baristas fired for union organizing. The case, stemming from a 2022 incident involving the firing of seven baristas in Memphis, could significantly impact labor organizing nationwide. This follows a series of labor disputes at Starbucks, including a notable strike and ongoing negotiations with the Workers United union representing thousands of Starbucks employees.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 2:22 pm

AAPL

Apple is reportedly in the process of developing its own custom silicon designed specifically for AI servers, according to a Mac Rumors report. This move could signify Apple's deeper foray into artificial intelligence, potentially reducing its reliance on third-party processors for AI tasks.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 2:06 pm

BA

GE

In a Reuters interview, GE Aerospace's CEO stated his commitment to serving Boeing as their best supplier, dismissing speculation about taking the Boeing CEO position. He confirmed that Boeing continues to receive engine deliveries at the same rate.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 1:44 pm

DECK

Deckers Brands' division, Ugg, has reached a significant milestone in its commitment to sustainability by influencing the regenerative agriculture movement, achieving a 1 million acres commitment. This achievement underscores the company's dedication to environmental stewardship and sustainable practices.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 1:22 pm