Streetbeat News

Corporate Responsibility

AMSYF

CENX

CLF

GSM

MP

TMC

MX Holdings and Century Aluminum Company (CENX) form a joint venture for low-carbon secondary billet production, aiming for a 2026 start in the Ohio Valley. TMC the metals company Inc. (TMC) supports new U.S. seafloor nodule collection legislation. ArcelorMittal (OTC:AMSYF) buys a 28.4% stake in Vallourec. Ferroglobe PLC (GSM) appoints Carsten Larsen as CCO. Citigroup downgrades Cleveland-Cliffs (CLF) to Neutral with a $22 target. Morgan Stanley downgrades MP Materials (MP) to Equal-Weight with a $15.50 target.

Portfolio Pulse from Austin DeNoce

March 13, 2024 | 9:38 pm

URI

United Rentals has introduced Tower Crane Battery Energy Systems to its North American fleet, marking a significant enhancement in its equipment offering. This move is aimed at improving operational efficiency and reducing environmental impact, aligning with the growing demand for sustainable construction solutions.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 9:33 pm

CHRW

C.H. Robinson announced Michael McGarry and Paige Robbins as nominees for its Board of Directors. Scott Anderson and James Stake will not seek re-election and will retire from the Board at the 2024 annual meeting.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 9:23 pm

TEL

TE Connectivity announced the election of Carol 'John' Davidson as the new Board Chairman during its Annual General Meeting, succeeding Tom Lynch who retired. Davidson has been on the board since 2016 and served as the lead independent director since 2022. Shareholders also approved a quarterly dividend.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:50 pm

VRM

Vroom, Inc. (NASDAQ:VRM) reported Q4 losses of $80.51 per share with sales of $235.92 million, surpassing analyst estimates. The company is finalizing its e-commerce wind down by Q1 2024 end, focusing on maximizing stakeholder value through United Auto Credit and CarStory. Post-announcement, VRM shares surged over 53.8% but fell 11.2% after-hours.

Portfolio Pulse from Erica Kollmann

March 13, 2024 | 8:40 pm

UA

UAA

Under Armour announced Kevin Plank will become President & Chief Executive Officer, leading to an increase in the company's shares.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:37 pm

UA

UAA

Under Armour announced Kevin Plank will become President & CEO on April 1, 2024, succeeding Stephanie Linnartz. Mohamed A. El-Erian will be the new Non-Executive Chair of the Board. Linnartz will stay as an advisor until April 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:33 pm

SPRB

Spruce Biosciences has announced a strategic shift towards resource prioritization and cost reduction measures, including a significant workforce reduction of approximately 21%. This move is aimed at optimizing the company's operations and financial health.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:26 pm

NXPI

PI

Impinj has reached a settlement in its patent litigation with NXP Semiconductors. As part of the agreement, NXP will make a one-time payment of $45 million to Impinj and will also make annual license fee payments.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:23 pm

MDU

MDU Resources announced plans to spin off its construction services business, leading to two independent, publicly traded companies. The construction services group will rebrand to Everus Construction Group, with the spinoff expected to complete by late 2024.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:21 pm