Streetbeat News

Corporate Responsibility

RSLS

ReShape Lifesciences has publicly reaffirmed its commitment to achieving profitability, signaling a positive outlook for its financial future.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:46 pm

CTHR

POWW

PSIX

SSP

Insiders at Charles & Colvard, E.W. Scripps Company, AMMO, Inc., and Power Solutions International have recently made significant stock purchases. These transactions indicate insider confidence in these companies, despite mixed financial results and corporate developments reported by some. Charles & Colvard reported a quarterly loss, while AMMO posted upbeat third-quarter results. Power Solutions International announced a new General Counsel appointment, and E.W. Scripps reported mixed fourth-quarter financial results.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 1:43 pm

AREC

American Resources Corporation's subsidiary, ReElement Technologies, has signed a sales agreement with USA Rare Earth LLC for the production and sale of ultra-pure rare earth oxides. The agreement, starting in 2025, will eventually lead to over $65 million in annual revenue by 2028 from the sale of over 900 metric tons of high purity oxides annually. This partnership aims to support the domestic production of permanent magnets and contribute to the U.S. supply chain for rare earth and critical battery elements, utilizing ReElement's patented, environmentally friendly technology.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:41 pm

SHOT

Safety Shot, Inc. (NASDAQ:SHOT), a wellness beverage brand, announced the appointment of John Gulyas as Chairman of the Board, succeeding Glynn Wilson PhD. Gulyas, a serial entrepreneur with multiple 7-figure exits and co-founder of the Safety Shot beverage, aims to lead the company towards becoming a leading brand in the wellness industry. His diverse experience and successful track record in brand development and franchise operations are expected to contribute significantly to Safety Shot's growth and shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:40 pm

MCFT

MasterCraft Boat Holdings announced Brad Nelson as its new CEO effective March 18, 2024, succeeding Fred Brightbill who will retire. Roch Lambert will become Chairman of the Board on July 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:36 pm

HTOO

Fusion Fuel Green PLC (NASDAQ:HTOO) shares rose in premarket trading after receiving a €1.015 million grant from the European Innovation Fund's Horizon Europe Programme for its involvement in the H2tALENT consortium. This consortium aims to develop hydrogen valleys demonstrating hydrogen's decarbonization potential. Fusion Fuel's role includes supplying electrolyzer technology for green hydrogen projects in Portugal's Alentejo region. The grant will fund automation equipment for the Evora demonstration facility and engineering for the Sines I project.

Portfolio Pulse from Lekha Gupta

March 04, 2024 | 1:31 pm

JBLU

SAVE

JetBlue has officially terminated its merger agreement with Spirit Airlines, allowing it to concentrate on its organic growth strategy and path to profitability. This strategic shift marks a significant change in direction for JetBlue, potentially impacting its future operations and financial performance.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:31 pm

GOOG

GOOGL

A former Google engineer warned over five years ago about the inevitable threat AI posed to Google's search engine, a concern that has resurfaced with Google's mishandling of its Gemini AI chatbot. Despite the company's significant reliance on search revenue, which accounted for 56% of its total revenue in Q4 2023, Google's leadership has acknowledged issues with Gemini's quality control. The ongoing antitrust lawsuit against Google has brought to light internal emails from Eric Lehman, the engineer, predicting the rise of AI over traditional search methods.

Portfolio Pulse from Rounak Jain

March 04, 2024 | 1:28 pm

FTXL

NVDA

PSI

SSNLF

Micron Technology, Inc (NASDAQ:MU) is involved in a corporate espionage case linked to Chinese state-sponsored theft, with a shift in strategy towards China amid US-China tensions. Despite a setback in a federal case against Fujian Jinhua, Micron is adapting by settling lawsuits, engaging diplomatically, and investing in China. Micron's products are chosen by Samsung Electronics (OTC:SSNLF) for the Galaxy S24 series and are used in Nvidia Corp's (NASDAQ:NVDA) H200 Tensor Core GPUs. Micron's stock rose 2.94% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

March 04, 2024 | 1:24 pm

INCY

Incyte announced its dermatology portfolio data will be presented at the 2024 American Academy of Dermatology Annual Meeting, including two late-breaking abstracts on ruxolitinib cream (Opzelura) for hidradenitis suppurativa and povorcitinib (INCB54707) for prurigo nodularis. The event will highlight Incyte's commitment to addressing unmet needs in dermatology. Key data presentations are scheduled for March 11, 2024. Opzelura is FDA-approved for nonsegmental vitiligo and atopic dermatitis, while povorcitinib is in Phase 2 trials for several conditions.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:24 pm