Streetbeat News

Corporate Responsibility

FCPT

Four Corners Property Trust (FCPT) announced a CFO transition, with Gerry Morgan set to retire on May 3, 2024, and Patrick Wernig, the current Managing Director of Acquisitions, named as his successor. Wernig's appointment is subject to Board approval and will follow a transitional period after the release of the Q1 2024 financial results. Morgan, who has significantly contributed to FCPT's growth since its spin-off from Darden in 2015, will assume an interim advisory role to facilitate the transition. Wernig, with the company since 2016, has a background in real estate and gaming sectors from his time at J.P. Morgan.

Portfolio Pulse from Happy Mohamed

March 07, 2024 | 9:25 pm

MSTR

TSLA

Arkham Intelligence reported an increase in Tesla's Bitcoin holdings, now totaling approximately 11,509 BTC, which is 1,789 BTC more than previously disclosed. Tesla, under Elon Musk, has had a fluctuating relationship with Bitcoin, including a significant purchase in 2021 and later sales. Neither Tesla nor Musk has commented on the recent speculation. SpaceX, also led by Musk, holds Bitcoin. MicroStrategy, a major institutional Bitcoin holder, and its co-founder Michael Saylor, have influenced corporate Bitcoin investment, with Saylor advocating for a bullish future for Bitcoin.

Portfolio Pulse from Murtuza Merchant

March 07, 2024 | 9:10 pm

AVO

Mission Produce has announced the appointment of John Pawlowski as its new President and Chief Operating Officer (COO).

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:05 pm

PRTS

CarParts.com announced plans to significantly reduce its cost structure, which includes the elimination of 150 global roles. This move is part of the company's efforts to streamline operations and improve financial performance.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:04 pm

UMAC

Unusual Machines has appointed Andrew Camden as its new Chief Operating Officer (COO). This strategic move could signal a new direction or operational improvements for the company.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:03 pm

RIVN

Rivian announced a delay in resuming construction at its Georgia facility to prioritize the capital-efficient launch of its R2 model in Normal, Illinois. The company also highlighted the DC fast charging capabilities of its R2 and R3 models, which can charge from 10% to 80% in less than 30 minutes. Both models are built on a new midsize vehicle platform.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 6:43 pm

RIVN

Rivian announced that deliveries of its R2 model will commence in the first half of 2026, with production starting at its Illinois plant. The CEO emphasized the importance of the Georgia site for future plant development.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 6:39 pm

HPQ

HP Inc. announced new services and solutions at the Amplify Partner Conference 2024, including HP WEX, an AI-enabled digital experience platform, and initiatives to extend device life and accelerate a circular economy. These offerings aim to enhance productivity, reduce TCO, and support channel partners in delivering superior work experiences. HP also introduced new Managed Services, simplified support packages, and a partnership with Microsoft to integrate WEX with Copilot for Security.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 6:22 pm

CI

LLY

NVO

Cigna Group's subsidiary, Evernorth Health Services, introduced a financial guarantee within its EncircleRx program to provide clients with predictability in covering GLP-1s, aiming to control health plans and employers' expenditures. This initiative includes a cost cap or savings guarantee, enhancing accessibility for patients. Evernorth has agreements with Novo Nordisk and Eli Lilly to cap annual spending increases for weight loss and diabetes drugs at 15%. Cigna also raised its long-term average annual adjusted EPS growth target to 10%-14% and reaffirmed its fiscal year 2024 adjusted EPS guidance.

Portfolio Pulse from Vandana Singh

March 07, 2024 | 6:18 pm

NSC

Ancora Holdings Group, LLC, a significant shareholder in Norfolk Southern Corporation (NYSE:NSC), has proposed a new leadership team and directors who aim to enhance the company's safety policies. The proposed changes include a requirement for a two-person crew on every mainline train, which Ancora believes will significantly improve operational safety. The announcement comes with a white paper detailing the analysis and recommendations for improving Norfolk Southern's safety culture.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 5:05 pm