Streetbeat News

Corporate Responsibility

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

GDYN

Grid Dynamics has been awarded the AWS Well-Architected Partner Status, recognizing its capability to build and audit secure, high-performing, resilient, and efficient infrastructure for applications on AWS. This status enables Grid Dynamics to offer clients significant cost savings, faster time to market, improved application performance, and reduced security risks by leveraging a proven methodology to mitigate risks and modernize application workloads.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:11 pm

PXDT

Pixie Dust Technologies, Inc. (NASDAQ:PXDT) announced the appointment of Nobuhiro Takagi and Nobufusa Tarumi as co-CFOs effective March 13, 2024, succeeding Mr. Mamoru Miwa. Both appointees have extensive experience in finance and equity markets, with Takagi previously serving as the Company's CAO and Tarumi as the Treasury Manager. The CEO, Yoichi Ochiai, expressed confidence in their abilities to drive growth and financial well-being for the company.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:10 pm

FOSL

Fossil Group has announced the appointment of Jeffrey Boyer as the interim CEO and Director, and Kevin Mansell as the Chairman of the Board. This leadership change could signal a new strategic direction or stabilization efforts for the company.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:06 pm

DIS

Trian criticizes Disney for overpaying for the Fox acquisition and for its excessive spending on parks without a clear plan or timeframe. They highlight Disney's lagging media margins as a concern.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 7:44 pm

DIS

Trian Fund Management, an activist investor in Disney, clarified that it does not oppose Bob Iger's reelection as CEO of Disney. They also stated that Ike Perlmutter is not seeking a board seat and will not influence the fiduciary responsibilities of Trian's candidates at Disney. Trian criticized Disney for being slow to adapt to streaming.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 7:43 pm

HUDA

Hudson Acquisition I announced the appointment of Warren Wang as its new CEO and Chairman of the Board, replacing Jiang Hui who resigned from these positions, according to an SEC filing on March 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 7:41 pm

DIS

Trian Fund Management, L.P. has nominated Nelson Peltz and Jay Rasulo for election to Disney's Board of Directors, opposing the reelection of incumbents Michael B.G. Froman and Maria Elena Lagomasino. Trian criticizes Disney's current board for deflecting from performance issues and misrepresenting Trian's contributions, highlighting Disney's underperformance in stock and earnings. Trian, owning over $3.5 billion in Disney shares, advocates for change to improve governance and oversight, emphasizing Disney's potential for future outperformance.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 7:40 pm

UBER

Uber Technologies Inc (NYSE:UBER) is making strides towards sustainability with its new 'emission savings' feature, showcasing the company's commitment to the environment. Despite experiencing volatility, including a 19% drop in July 2023, Uber's stock has shown resilience and impressive growth, rebounding strongly from its lows. The company's focus on eco-friendly initiatives is expected to positively impact its financial performance, with the stock already up 26% in early 2024 and aiming for the $100 milestone.

Portfolio Pulse from Zaheer Anwari

March 13, 2024 | 6:27 pm

FXI

SPY

Following a recent vote by the House, TikTok has informed its employees that there will be no change in its strategic direction. The company's decision to maintain its current strategy despite the legislative scrutiny suggests confidence in its operational model and future plans.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 6:10 pm