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Corporate Responsibility

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HA

JBLU

SAVE

At the J.P. Morgan Industrials Conference, Alaska Air's CEO commented that the judge's decision on the JetBlue-Spirit deal is beneficial for Alaska Air. He also noted that Alaska Air's agreement with Hawaiian Airlines is distinct from the JetBlue-Spirit merger.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:42 pm

BGXX

Bright Green Corp (NASDAQ:BGXX) has signed a $250M agreement with Dalsem Greenhouse Technologies BV to expand its drug production facility in New Mexico, adding 7M square feet of manufacturing space. The expansion, supported by $60M in financing, aims to enhance the production of Schedule I and II controlled substances, aligning with the 'Drugs Made in America' initiative. The project, benefiting from solar power and federal tax credits, positions Bright Green as a competitive, low-cost, carbon-neutral drug manufacturer in the U.S.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:02 pm

OXY

XOM

Saudi Aramco and ADNOC are venturing into lithium production from brine in their oilfields to diversify and meet the growing demand for EVs, similar to Exxon Mobil's efforts in Arkansas. Despite a profit decline, Aramco increased its dividend payout. The long-term prospects for lithium remain promising despite recent price drops. Gulf companies are exploring eco-friendly Direct Lithium Extraction (DLE) technologies, avoiding traditional, environmentally harmful methods. Exxon Mobil and Occidental Petroleum are also investigating DLE technologies.

Portfolio Pulse from Stjepan Kalinic

March 12, 2024 | 3:00 pm

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UAL

At the J.P. Morgan Industrials Conference, the CEO of United Airlines revealed that Boeing has halted the production of Max 10 aircraft specifically for United Airlines. This development could have implications for both companies' operations and stock performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:51 pm

BABA

EBIZ

JD

ONLN

Alibaba Group Holding Ltd (NYSE:BABA) is investing approximately $640 million in Hong Kong's creative industries over the next five years, aiming to boost its media and entertainment division amidst intense competition. This follows a significant sales increase in its unit, attributed to China's strong box office performance. Alibaba is also enhancing staff incentives by merging stock options with cash rewards, starting April 1, 2024, to improve employee earnings' certainty and liquidity. The stock rose over 2% on Tuesday. Competitor JD.com Inc (NASDAQ:JD) increased salaries for its retail division last year. Alibaba can be accessed through ProShares Online Retail ETF (NYSE:ONLN) and Global X E-Commerce ETF (NASDAQ:EBIZ).

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 2:43 pm

IGT

International Game Technology PLC (NYSE:IGT) reported Q4 fiscal 2023 revenue of $1.13 billion, a 3% increase Y/Y, surpassing consensus estimates of $1.11 billion. Adjusted EPS was $0.56, beating the consensus of $0.41. Revenue from Global Lottery rose 7% Y/Y, while PlayDigital fell 10%. Adjusted EBITDA increased 9% Y/Y to $454 million. The company declared a quarterly dividend of $0.20 per share. CEO Vince Sadusky announced plans to split the business into separate lottery and gaming companies. IGT forecasts fiscal 2024 revenue between $4.30 billion and $4.40 billion, with shares falling 4.59% to $24.00.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 2:23 pm

AMZN

GOOGL

MSFT

Executives and staff from major cloud providers including Microsoft, Amazon Web Services, and Google have indicated that customers are cautious about increasing spending on new AI services due to the high costs associated with running the software. This suggests a tempering of expectations around the adoption and financial impact of generative AI technologies in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:03 pm

AAL

At the JPM Conference, the CEO of American Airlines highlighted that aircraft manufacturers have been unable to deliver on schedule, impacting the airline's operations.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:27 pm

SASI

Sigma Additive Solutions, Inc. (SASI) announced its corporate name change to NextTrip, Inc., effective March 13, 2024, following the acquisition of NextTrip Holdings, Inc. The company will start trading under the new ticker symbol 'NTRP' on the Nasdaq. This transition reflects its shift towards travel and travel media operations, leveraging partnerships with over 200 travel organizations and offering over 2 million hotels worldwide. NextTrip is preparing to launch its travel booking platform and a content ecosystem, including Compass.TV, to drive growth and shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:15 pm

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UAL

United Airlines Holdings' CEO announced plans to convert to Max 10s pending certification. This move indicates a strategic shift towards newer, potentially more efficient aircraft models.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:03 pm