Streetbeat News

Corporate Responsibility

GLNCY

RIO

SOUHY

Norway's sovereign wealth fund is considering divesting its $2.15 billion stake in Rio Tinto (NYSE:RIO) due to concerns over deforestation in the Brazilian Amazon. The fund, which is the world's largest at $1.6 trillion, has a history of ethical investing and previously divested from Rio Tinto in 2008 over environmental concerns. The Council On Ethics is in discussions with Rio Tinto but has not made a final decision. Glencore ADR (OTCPK: GLNCY) and South32 ADR (OTCPK: SOUHY) are also mentioned as related parties due to their stakes in Mineração Rio do Norte (MRN), a bauxite producer under scrutiny.

Portfolio Pulse from Stjepan Kalinic

April 03, 2024 | 6:23 pm

GS

Goldman Sachs Group maintains its negative stance on cryptocurrency, with Sharmin Mossavar-Rahmani, the chief investment officer of Goldman Sachs’ Wealth Management unit, reiterating that they do not view it as an investment asset class. This position contrasts with other financial giants like BlackRock Inc. and Fidelity, which have expanded their crypto offerings. Goldman Sachs' skepticism is rooted in the difficulty of valuing cryptocurrencies and the perceived hypocrisy within the crypto industry.

Portfolio Pulse from Murtuza Merchant

April 03, 2024 | 5:52 pm

DIS

Disney shares are trading lower following the re-election of its current slate of directors, rejecting nominees from Trian.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:41 pm

RSLS

ReShape Lifesciences (RSLS) CEO, Paul Hickey, discussed the potential of GLP1 medications as a tool to combat obesity, comparing them to the company's ReShape Lap-Band, highlighting its safety and less invasive nature.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:39 pm

DIS

Trian Group, owning over $3.5 billion in Disney (DIS) stock, expressed disappointment over the failure to elect Nelson Peltz and Jay Rasulo to Disney's Board at the 2024 Annual Meeting. Despite this, Trian highlighted its positive influence on Disney, noting the company's stock rise by 50% and its status as the Dow Jones Industrial Average's top performer year-to-date, following new operating initiatives and capital improvement plans initiated since late 2023.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:26 pm

DIS

The Walt Disney Company (NYSE:DIS) announced that its full slate of 12 directors has been elected over the nominees of Trian and Blackwells at Disney's 2024 Annual Meeting of Shareholders. The election results are pending certification, with final tallies to be reported to the SEC. Disney's Board and management express gratitude to shareholders for their support and look forward to focusing on growth, value creation, and creative excellence.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:25 pm

DIS

Walt Disney shareholders have voted to re-elect all 12 company nominees to the board of directors, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:23 pm

EDBL

Edible Garden AG Inc (NASDAQ:EDBL) shares surged 24.2% after announcing a new vertical integration initiative at its Heartland facility in Grand Rapids, Michigan. This move allows the company to transition potted herb production from contract-growers to in-house, aiming to enhance margins. CEO Jim Kras highlighted the initiative's role in improving operating efficiency and advancing towards profitability. Edible Garden specializes in controlled environment agriculture, offering locally grown, organic, and sustainable produce.

Portfolio Pulse from Shivani Kumaresan

April 03, 2024 | 5:18 pm

EWJ

URA

The Japanese government aims to begin field testing clean hydrogen production using nuclear power by 2028, leveraging the High Temperature Engineering Test Reactor (HTTR). This follows a successful safety test and is part of Japan's strategy to meet increasing global power demand and reduce industrial emissions without greenhouse gases. The HTTR's technology could potentially power 200,000 fuel cell vehicles annually if scaled. Japan's commitment to nuclear-powered hydrogen production reflects a broader international interest in nuclear energy post-Paris climate agreement, despite ongoing skepticism and challenges, including waste disposal.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:17 pm

DIS

Walt Disney's annual shareholder meeting has commenced, marking a significant event for the company and its investors.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:02 pm