Streetbeat News

Corporate Responsibility

META

The Dutch Privacy Watchdog has advised government organizations to cease using Facebook due to privacy concerns, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:06 pm

AMZN

Amazon Inc. (NASDAQ:AMZN) has been secretly gathering intelligence on competitors for nearly a decade through Big River Services International, a covert operation originating from a 2015 plan named 'Project Curiosity'. Big River sold goods on e-commerce platforms like eBay, Shopify, Walmart, and Amazon, using sales data to inform Amazon's business strategies. This operation is revealed as Amazon faces antitrust charges from the U.S. FTC and 17 states for marketplace practices.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 12:55 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) has received support from T. Rowe Price, its tenth-largest shareholder, for the reinstatement of Elon Musk's 2018 pay package, previously voided by a Delaware judge for being unfair to investors. This backing is crucial ahead of Tesla's June 13 annual shareholder meeting, where a special vote will seek re-approval of the compensation plan. T. Rowe Price's support, holding 22.4 million shares, signifies confidence in Musk's leadership and the plan's alignment with long-term investor interests.

Portfolio Pulse from Anan Ashraf

April 19, 2024 | 12:48 pm

AXP

American Express CFO announced during a conference call that the company is on track to increase its marketing spend in 2024 compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:47 pm

BHRB

SMMF

Burke & Herbert Financial Services Corp. (BHRB) and Summit Financial Group, Inc. (SMMF) have received all necessary regulatory approvals for their merger, set to close on May 3, 2024. The merger, announced on August 24, 2023, is a merger of equals. Additionally, Burke & Herbert has scheduled its annual shareholder meeting for July 15, 2024, for shareholders of record as of May 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:34 pm

MAXN

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) has filed a patent infringement lawsuit against REC Solar Holdings AS in the Eastern District of Texas. The lawsuit alleges REC Solar's infringement of Maxeon's patents related to TOPCon solar cell technology. Maxeon, a leader in solar innovation, holds over 1,650 granted patents and more than 330 pending applications, covering technologies such as IBC, Shingled Hypercell, and TOPCon. Maxeon's Associate General Counsel, Marc Robinson, emphasized the company's commitment to fair competition and its intent to enforce its patent rights vigorously.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:33 pm

EARN

Ellington Residential has announced a rebranding to Ellington Credit Company. This strategic move is aimed at reflecting the company's broader focus on credit investments. The rebranding includes a change in the company's ticker symbol from EARN to a new symbol that aligns with its new identity.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:23 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) announced layoffs that eliminated several top managerial positions, leading to at least 35 executives now directly reporting to CEO Elon Musk. This restructuring raises concerns about 'CEO overload' and Musk's ability to manage effectively, given his involvement in multiple companies. The situation is flagged as a key risk for Tesla stakeholders, especially with Tesla's stock at its lowest level in over a year.

Portfolio Pulse from Shanthi Rexaline

April 19, 2024 | 12:12 pm

BDRX

Biodexa Pharmaceuticals announces it has the resources to deliver two sets of preclinical data and three sets of clinical data in 2024. The company's development pipeline now includes five programs, with four at the clinical stage. Biodexa expresses enthusiasm for its potential in 2024 and beyond, highlighting a stronger pipeline than ever before.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:09 pm

NSC

Norfolk Southern Corp. has labeled the near-term targets set by Ancora Alternatives LLC as 'highly unrealistic' and is urging its shareholders to vote for the company's nominees instead of those proposed by Ancora. This dispute highlights a significant disagreement between the railroad company and the investment firm regarding the strategic direction and management goals.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:06 pm