Streetbeat News

Corporate Responsibility

DIS

Blackwells Capital has initiated a lawsuit against Walt Disney in a Delaware court, aiming to access books and records to investigate potential disclosure violations related to its interactions with the hedge fund ValueAct, according to a court filing.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 6:38 pm

EB

Eventbrite announced it will not replace departing executive Steffan Tomlinson, following restructuring programs in 2020 and 2023 that have led to increased profitability, according to CEO Julia Hartz.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 6:32 pm

DIS

The New York City Retirement System announced its intention to support Walt Disney's current board of directors in the ongoing boardroom conflict involving Trian's Nelson Peltz and Blackwells Capital. This decision is significant in the context of the power struggle within one of the world's leading entertainment companies.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 6:22 pm

NTR

Nutrien Ltd. is considering divesting its operations in Latin America following a series of losses and a significant management exodus. The company, which has faced challenges in the region, is exploring options to improve its financial standing and streamline its global operations.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 5:25 pm

AMZN

WBA

Walgreens Boots Alliance (WBA) reported fiscal Q2 earnings that exceeded estimates but lowered its full-year earnings guidance due to a challenging macroeconomy. The company is undergoing a healthcare transformation, highlighted by a 33% sales increase in its U.S. healthcare division, driven by acquisitions and business growth. However, a nearly $6 billion charge related to the decline in value of its investment in VillageMD resulted in a steep net loss. Despite this, Walgreens is continuing its transformation efforts, including cost-cutting measures to save $1 billion by fiscal 2024. Amazon.com Inc (AMZN) is also expanding into the healthcare market, increasing competition for Walgreens.

Portfolio Pulse from Upwallstreet

March 28, 2024 | 5:24 pm

MT

X

The steel industry is witnessing significant consolidation with notable transactions such as Nippon Steel's acquisition of U.S. Steel, Acerinox's subsidiary NAS acquiring Haynes International, Varsteel's purchase of Pacific Steel, and ArcelorMittal's investment in Vallourec. These moves reflect the industry's adaptation to global dynamics, including de-globalization and sustainability goals.

Portfolio Pulse from Stjepan Kalinic

March 28, 2024 | 5:11 pm

DIS

Neuberger Berman supports Trian's slate in Disney's proxy fight due to concerns over Disney's succession planning, criticizing the board's past decisions, including the selection and ousting of Bob Chapek and the extension of Bob Iger's contract. The outcome hinges on investor confidence in the board's ability to choose a strong successor for Iger.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 5:07 pm

TNXP

Tonix Pharmaceuticals Holding Corp (TNXP) shares plummeted by 33.9% to $0.22 after announcing a $4.4 million registered direct offering of shares and warrants at $0.30 per share. The offering aims to raise funds for working capital, general corporate purposes, and partial debt repayment. A.G.P./Alliance Global Partners is the placement agent. Additionally, Tonix plans to amend certain 2023 warrants, contingent on shareholder approval.

Portfolio Pulse from Henry Khederian

March 28, 2024 | 5:02 pm

CVS

ELV

NVO

A study reveals Novo Nordisk's diabetes drug Ozempic could be produced for under $5, contrasting its $1,000 U.S. price tag. The study, involving Yale University and others, highlights the affordability issue in diabetes care. Major insurers like CVS Health and Elevance Health announced coverage for another Novo Nordisk drug, Wegovy, for certain Medicare patients. Novo Nordisk defends its pricing, citing significant R&D investments and efforts to ensure patient access through rebates and discounts.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 4:54 pm

SPY

White House National Economic Adviser, Brainard, stated that corporate profits are still high and President Biden will urge companies to share their savings with consumers.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 4:52 pm