Streetbeat News

Corporate Responsibility

GGR

Gogoro and TSMC have announced three new mobility initiatives in Taiwan aimed at enhancing the country's focus on clean energy. These initiatives underscore both companies' commitment to environmental sustainability and clean energy solutions in Taiwan.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 8:03 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk announced the removal of inventory discounts on Tesla cars in the U.S. to simplify the company's sales system, which he described as 'complex and inefficient'. This change excludes demo or used vehicles. The decision follows recent cost-cutting measures, including laying off 14,000 employees (10% of its global workforce) and the departure of senior executives Drew Baglino and Rohan Patel. Despite these changes, Tesla has avoided price cuts in the U.S. since early 2024, except for a temporary reduction on select Model Y versions in February. Recently, Tesla raised prices on all Model Y versions by up to $1,000.

Portfolio Pulse from Anan Ashraf

April 17, 2024 | 7:53 am

HCP

HashiCorp, a software company, is expanding its European presence by establishing a new technology hub in Madrid. This move aims to leverage local talent and enhance its operations in Europe.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 7:47 am

BCLI

BrainStorm Cell Therapeutics announced management changes, including the promotion of Bob Dagher, MD, to Chief Medical Officer and the transition of Dr. Stacy Lindborg from Co-CEO to the Board of Directors, as it plans a registrational Phase 3b trial of NurOwn.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 6:54 am

ALGT

Allegiant flight attendants, represented by TWU Local 577, have ratified a new 5-year agreement, approving it with an 89% vote. The contract includes a 20%-41.2% wage increase, with an average increase of 25% upon ratification. More than 1,700 flight attendants are covered by this agreement, which also features improved pay overrides among other enhancements.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 6:23 am

BYDDF

BYDDY

TSLA

Tesla Inc (NASDAQ:TSLA) faces scrutiny over Elon Musk's management style amid Cybertruck delivery delays, as investor Ross Gerber expresses skepticism. Gerber criticized Musk's focus since purchasing Twitter, suggesting a lack of leadership at Tesla. This criticism follows Tesla's poor Q1 sales performance, which Musk attributed to broader industry challenges, comparing it to BYD Co. Ltd.'s (OTC:BYDDY) (OTC:BYDDF) sales decline. The situation raises questions about Tesla's leadership and strategic direction, amidst layoffs and a focus on the robotaxi project.

Portfolio Pulse from Benzinga Neuro

April 17, 2024 | 3:12 am

CRLBF

At the Benzinga Cannabis Capital Conference in Florida, Cresco Labs' CEO Charlie Bachtell expressed optimism about cannabis rescheduling and industry reform, highlighting the process it's undergoing and the significance of Health and Human Services' acknowledgment of cannabis' medicinal value. Bachtell discussed the political landscape, the SAFER Banking Act, and envisioned a domino effect of positive developments for cannabis policy in the U.S. following rescheduling. He addressed investor concerns, emphasizing the commitment of legislative leaders to cannabis reform.

Portfolio Pulse from Nicolás Jose Rodriguez

April 16, 2024 | 11:19 pm

TTWO

Take-Two Interactive has announced a cost reduction program that includes eliminating projects and reducing its workforce by 5%. The company expects to incur charges between $160M-$200M but anticipates over $165M in annual savings as a result. This strategic move is detailed in their recent 8-K filing.

Portfolio Pulse from Charles Gross

April 16, 2024 | 9:07 pm

CRLBF

MSOS

YOLO

Charlie Bachtell, CEO of Cresco Labs, emphasized the need for the cannabis industry to have access to capital for growth at Benzinga's Capital Cannabis Conference. The conference offers live access for both existing and new subscribers.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:15 pm

ODC

Oil-Dri Corporation of America (ODC) announced its plan to acquire Ultra Pet Company for $46 million in cash. The acquisition is to be financed through cash on hand and existing credit facilities, with an expected closure in Oil-Dri's fiscal Q4.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:13 pm