Streetbeat News

Corporate Responsibility

SPY

President Biden has urged companies with record profits to reduce their prices to help combat inflation. This call to action is part of a broader strategy to address rising costs that affect consumers directly. While specific companies were not mentioned, this appeal could have implications across various sectors, particularly those experiencing significant profit margins.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:45 pm

NEON

Neonode Inc. announced the immediate departure of CEO Urban Forssell. CFO Fredrik Nihlén will serve as interim CEO. Forssell will be a strategic advisor until end of 2024. This follows Neonode's strategy shift to focus on licensing business and phase out its Touch Sensor Module product business.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:24 pm

LEN

LPX

LP Building Solutions (LPX) and Lennar Corporation (LEN) have announced a nationwide supply agreement to provide high-quality, sustainable building products for Lennar's home construction projects. This partnership expands their existing collaboration, leveraging LP's engineered wood products and Lennar's market reach. The agreement includes the use of LP's SmartSide Trim & Siding, Structural Solutions sheathing, sub-flooring, and OSB products, known for their durability and performance.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:07 pm

PRGS

Progress (NASDAQ:PRGS) announced new AI capabilities in Progress Sitefinity 15.1, enhancing digital experience delivery with AI-powered conversion propensity scoring, content classification, and customer data modeling. The update also introduces support for ASP.NET Core in .NET 8, offering flexibility and faster deployment for engineering teams. These advancements aim to improve ROI, productivity, and enable personalized digital interactions. Sitefinity, part of the Progress Digital Experience portfolio, has received industry recognition, including being named a Leader in G2's Winter 2024 Grid Report for Digital Experience Platforms.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:04 pm

LAW

CS Disco, Inc. (NYSE:LAW) announced the appointment of Eric Friedrichsen as its new CEO, succeeding Scott Hill, who will become Board Chair. Friedrichsen, a seasoned technology veteran, is expected to lead DISCO into its next growth stage, leveraging his experience in scaling businesses and building strong company cultures. Hill will assist in the transition until May 11, 2024, and Friedrichsen will start on April 29, 2024. Friedrichsen's prior roles include CEO of Emburse, LLC, and leadership positions at Marketo Inc. and SAP.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:03 pm

IYG

MA

V

XLF

Mastercard Inc (NYSE:MA) announced a strategic realignment focusing on Core Payments, Commercial and new Payment Flows, and Services to accelerate growth and enhance stakeholder value. Leadership changes are effective immediately, with organizational changes starting May 1. The realignment aims to strengthen Mastercard's competitive edge, diversify revenue sources, and improve product offerings. Key appointments include Jorn Lambert as Chief Product Officer, Raj Seshadri as Chief Commercial Payments Officer, and Craig Vosburg as Chief Services Officer. Additionally, Mastercard plans to raise certain credit card fees starting April 15, following a $30 billion swipe fee settlement with Visa Inc (NYSE:V). Mastercard's stock has gained over 31% in the last 12 months, and investors can gain exposure through SPDR Select Sector Fund – Financial (NYSE:XLF) and IShares U.S. Financial Services ETF (NYSE:IYG).

Portfolio Pulse from Anusuya Lahiri

April 10, 2024 | 12:45 pm

RNW

ReNew Energy has surpassed 10 GW of gross renewable energy assets, making it one of the fastest clean energy companies to reach this milestone. In FY24, the company added 1.94 GW, bringing its revenue-generating capacity to 9.52 GW. ReNew, listed on Nasdaq as RNW, contributes about 10% to India's RE generation and plans to double its RE asset portfolio to 20 GW by 2027/28. The company's expansion is supported by a strong balance sheet of around $10.6 billion as of December 31, 2023. ReNew's growth aligns with India's goal to achieve 500 GW of non-fossil fuel energy capacity by 2030.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:40 pm

M

Arkhouse announced a statement regarding its settlement with Macy's, highlighting the appointment of Ric Clark and Rick Markee to Macy's Board. These appointments are part of efforts to maximize shareholder value, with Arkhouse's buyer group beginning due diligence for a potential acquisition of Macy's. The involvement of Clark and Markee, especially in the Finance Committee, is aimed at ensuring constructive discussions and serious consideration of Arkhouse's proposal.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:40 pm

KULR

KULR Technology Group, Inc. (NYSE:KULR) has successfully delivered custom-designed KULR ONE battery packs to the U.S. Army, significantly enhancing the efficiency and longevity of Uninterruptible Power Supplies in tactical command settings. This delivery under a multi-year contract represents a major achievement in KULR's commitment to innovation and specialized energy solutions, achieving an 80% improvement in UPS run times for the Army's future command posts.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:36 pm

DRIO

DarioHealth Corp. (DRIO) announced the publication of two peer-reviewed studies demonstrating the effectiveness of its digital behavioral health interventions. One of the studies, a Randomized Controlled Trial, showed a significant reduction in perceived stress among teenagers using Dario's platform.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:34 pm