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Corporate Responsibility

DIS

Disney CEO Bob Iger discussed the company's victory in its proxy battle against activist investors, emphasizing the distraction it caused and his relief over the outcome. Iger criticized Nelson Peltz for not bringing new ideas and potentially being a destructive presence on the board. The engagement during the proxy battle highlighted shared priorities among Disney's board, executives, and shareholders. Iger's focus will now return to core business priorities, including film quality, streaming profitability, ESPN's future, and the growth of Disney parks and resorts. Disney shares were up 0.73% at $119.85 following the news.

Portfolio Pulse from Erica Kollmann

April 04, 2024 | 4:07 pm

KSS

LEVI

M

Levi Strauss & Co (NYSE:LEVI) reported its fiscal first quarter results, showing a significant shift from wholesaler-driven sales to direct-to-consumer (DTC) channels, now accounting for 48% of total sales. Despite an 8% YoY sales drop to $1.56 billion, Levi surpassed LSEG's sales and adjusted earnings estimates. The company swung to a net loss of $10.6 million but raised its full-year profit guidance amidst macroeconomic uncertainties. Levi's focus on DTC sales and the enduring popularity of denim, highlighted by a 19% increase in denim skirts, dresses, and tops sales, positions it well for future growth.

Portfolio Pulse from Upwallstreet

April 04, 2024 | 3:42 pm

BTCUSD

DOGEUSD

Anonymous blogger Polynya criticizes the cryptocurrency community for its 'broken moral compass,' highlighting the rise of predatory practices, scams, and the emergence of offensive meme coins. Despite acknowledging some positives in crypto, Polynya is taking an indefinite hiatus from writing about the industry, expressing disappointment in its current state. The critique comes amid a surge in meme coin popularity, driven by social media hype rather than intrinsic value, contributing to the market's volatility and potential for scams.

Portfolio Pulse from Ivan Crnogatić

April 04, 2024 | 3:37 pm

SPOT

Spotify shares are trading higher following the announcement of price increases and the appointment of a new CFO.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 3:36 pm

SNN

The UK National Institute for Health and Care Excellence (NICE) has reconfirmed its guidance favoring Smith+Nephew's PICO Single Use Negative Pressure Wound Therapy System (sNPWT) over standard dressings for patients at high risk of surgical site infections (SSIs). This decision is based on a review of 28 new studies, showing PICO sNPWT's superior clinical outcomes and cost-effectiveness, especially in surgeries like colorectal, cardiothoracic, and vascular. The PICO sNPWT dressing, featuring AIRLOCK Technology, reduces the risk of wound complications, offering significant benefits for healthcare systems and patients.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 3:22 pm

PBR

Brazilian ministers have reached an agreement for Petrobras (PBR) to pay extraordinary dividends. This decision is expected to significantly impact the company's financial distribution to shareholders.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 3:19 pm

DIS

Nelson Peltz of Trian Fund Management expressed surprise in a CNBC interview over some index funds voting against him in the Disney proxy vote.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:50 pm

DIS

In a CNBC interview, Trian's Nelson Peltz emphasized the importance of Disney having a functional succession plan in place. This statement underscores the need for strategic leadership planning within the company.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:48 pm

DIS

Nelson Peltz of Trian Fund Management expressed hope in a CNBC interview that Disney's CEO, Bob Iger, can fulfill his promises, stating that if Disney succeeds, Trian Fund Management will not intervene again.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:47 pm

PBR

CNN Brasil reports that the dismissal of Petrobras CEO Prates is imminent, with BNDES head Mercadante being considered as a potential replacement. This development could signal a shift in leadership and possibly strategy for the state-controlled oil giant.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 2:40 pm