Streetbeat News

Corporate Responsibility

NWTN

NWTN announced the appointment of Leo Xi Lin as the new Chief Financial Officer (CFO) and Principal Financial and Accounting Officer, according to an SEC filing on March 25.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:30 pm

ELA

Envela Corp announced the election of John Deluca as Chief Financial Officer, effective March 25, 2024, following Bret Pedersen's notification of his intent to resign from the position.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:24 pm

OCN

Ocwen Financial announced its plan to change its name to Onity Group Inc. and expects to start trading under the new stock symbol 'ONIT' on the NYSE in June 2024. The name change proposal will be submitted at the Annual Meeting of Shareholders on May 28, 2024. While Ocwen's primary brands, PHH Mortgage Corporation and Liberty Reverse Mortgage, will initially retain their names, they are expected to be rebranded to Onity Mortgage later in the year.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:18 pm

ICLR

ICON plc's CFO, Brendan Brennan, is set to leave his role in the fourth quarter. This announcement could have implications for ICON's financial strategy and investor confidence.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:16 pm

RGP

Resources Connection, Inc. (RGP) has announced the appointment of Bhadresh Patel as its new Chief Operating Officer (COO). This strategic move aims to strengthen the company's operational capabilities and drive future growth.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:06 pm

GOOGL

Google is considering charging for new AI-powered search features as part of its premium subscription services, marking a significant shift from its traditional ad-supported model. This move comes as Google seeks to integrate generative AI into its core products, including its search engine, to stay competitive against threats like OpenAI's ChatGPT. Despite the potential for a paid search model, Google's traditional search engine and ad placements will remain free. The company is exploring how to balance the introduction of AI innovations with the preservation of its primary revenue source from search-related ads, which totaled $175bn last year.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:04 pm

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VRNOF

Following the Florida Supreme Court's decision to allow a constitutional amendment for legalizing recreational marijuana on the November 2024 ballot, cannabis companies, including Trulieve, have collectively contributed over $15 million in support. Trulieve had previously donated $40 million. The amendment, known as Amendment 3, aims to legalize non-medical personal use of marijuana for adults 21 or older and requires a 60% voter approval. Companies like Verano Holdings, Curaleaf Holdings, AYR Wellness, Cresco Labs, Green Thumb Industries, and INSA, Inc. are among the new donors. The funding announcement coincides with the upcoming Benzinga Cannabis Capital Conference in Florida.

Portfolio Pulse from Maureen Meehan

April 03, 2024 | 7:56 pm

EAF

Nilesh Undavia and the Undavia Group, holding approximately 5.9% of GrafTech International Ltd. (NYSE:EAF) shares, have issued a letter urging shareholders to vote for Undavia's election to the board at the upcoming Annual Meeting on May 9, 2024. The letter criticizes the current board for poor decision-making, including the appointment of the former CFO as CEO, environmental risk mismanagement, and excessive director compensation despite significant shareholder value destruction. Shares have dropped 90% since the IPO, and bonds trade at 64 cents on the dollar. Undavia aims to add an independent, large shareholder perspective to the board to revive GrafTech's market leadership.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:54 pm

AAPL

Apple Inc. is exploring the field of home robotics, including a mobile robot and an advanced table-top device with a movable display, as potential new growth avenues after discontinuing its electric vehicle project.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:17 pm

DIS

The Walt Disney Company (NYSE:DIS) successfully defended its board against activist investors Trian and Blackwells at its annual meeting, with all 12 directors winning by a substantial margin. CEO Bob Iger received 94% of the vote, highlighting shareholder support for the current leadership and strategic direction. Despite this victory, Disney's stock price fell by 1.8% to $119.85, marking its worst daily performance in a month.

Portfolio Pulse from Piero Cingari

April 03, 2024 | 6:58 pm