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Corporate Responsibility

UAVS

AgEagle Aerial Systems Inc. (NYSE:UAVS), a leading drone solutions provider, announced a shareholder letter from Chairman Grant Begley, highlighting the company's evolution, product offerings, and strategic accomplishments. Begley emphasized AgEagle's transition from a local agricultural drone provider to a global leader in drone technology with applications across various sectors. The letter mentioned the introduction of eBee VISION for defense and security, FAA certification, and the Defense Innovation Unit's endorsement. Recent achievements include leadership team expansions, sales to UT-Battelle and ADS Inc., and recognition as a top AI company in agriculture. Financially, AgEagle addressed its micro cap status, sales stagnation, and high expenses in 2023, but anticipates growth with the eBee VISION. A 20-to-1 reverse stock split was approved to attract more investors and support business growth.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:43 pm

DIS

Jamie Dimon has publicly endorsed Disney CEO Bob Iger in the ongoing proxy fight with Nelson Peltz's Trian Partners. This high-profile support could influence the outcome of the dispute, highlighting the significance of leadership and strategic direction in major corporations.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:23 pm

VCIG

VCI Global Limited (NASDAQ:VCIG) announced its strategic expansion by opening offices in New York and London and setting up an AI R&D Center in Frankfurt. This move aims to accelerate revenue growth and advance AI innovations. The New York and London offices will be led by Marco Baccanello, a Corporate Finance and Private Equity executive with experience in technology sector transactions. The Frankfurt AI R&D Center will be headed by Pascal Lauria, a veteran in AI and machine learning, aiming to nurture potential unicorn businesses.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:19 pm

TTE

TotalEnergies SE (NYSE:TTE) is being sued by Belgian farmer Hugues Falys for climate change-related damages to his farm and for an order to halt new fossil fuel projects. This landmark case, filed in the Tournai commercial court, marks the first climate change lawsuit against a multinational in Belgium. Falys claims TotalEnergies' CO2 emissions have significantly impacted his farming operations from 2016-2022, leading to reduced yields and herd size. The lawsuit also involves thousands of citizens and seeks to force TotalEnergies to adjust its business model.

Portfolio Pulse from Lekha Gupta

March 13, 2024 | 1:19 pm

EAF

GrafTech International Ltd. (NYSE:EAF) responded to Nilesh Undavia's open letter announcing his intent to nominate himself for election to GrafTech's Board of Directors at the 2024 Annual Meeting. GrafTech highlighted its Board's qualifications and commitment to strong governance, and plans to file preliminary materials for the Annual Meeting with the SEC soon.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:16 pm

EVCM

EverCommerce Inc. (NASDAQ:EVCM) is divesting its fitness solutions, including ClubOS, ASF, ClubWise, and My PT Hub, to Jonas Software. The fitness solutions, which represent less than 4% of EverCommerce's 2023 revenue, are being sold to allow EverCommerce to focus on higher growth, larger market opportunities. The transaction is expected to close in two parts, with the North American businesses already closed and the international businesses expected to close in Q3 2024. EverCommerce's CEO Eric Remer believes this move is beneficial for customers, employees, and investors by leveraging Jonas Software's larger scale.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:11 pm

BX

DUK

KKR

WHR

President Joe Biden's corporate tax overhaul, particularly the 15% Corporate Alternative Minimum Tax (CAMT) introduced in the 2022 Inflation Reduction Act, has impacted major companies like Duke Energy, Whirlpool, KKR & Co, and Blackstone in its first year. Despite the goal to close tax loopholes, the CAMT has faced criticism for its effectiveness. The Treasury Department supports increasing the CAMT rate to 21% and the main corporate tax rate to 28%. Companies have begun disclosing their CAMT liabilities amidst uncertainties and lack of detailed guidelines.

Portfolio Pulse from Vandana Singh

March 13, 2024 | 1:09 pm

EAF

GrafTech International Ltd. (EAF) has responded to an open letter from dissident stockholder Mr. Undavia, who intends to nominate himself for election to GrafTech's Board at the 2024 Annual Meeting. GrafTech emphasizes its Board's qualifications and commitment to corporate governance, and plans to file preliminary materials for the Annual Meeting with the SEC soon. Stockholders are advised no action is needed at this time.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:04 pm

AULT

Ault Alliance has decided to terminate its current offering and has announced plans to restructure its ownership. This strategic move could indicate a significant shift in the company's financial and operational strategy.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:02 pm

LILM

Lilium N.V. (NASDAQ:LILM) and Atlantic Aviation have signed an MOU to electrify airport infrastructure across the U.S., aiming to support regional air mobility with the all-electric Lilium Jet. This partnership will ensure compatibility of Atlantic's network of over 100 FBOs with the Lilium Jet, focusing on infrastructure deployment and operations to optimize passenger experience. The collaboration marks a significant step towards establishing a network for the Lilium Jet's service launch in key U.S. markets, including Florida, Southern California, the Northeast corridor, and Texas.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:40 pm