Streetbeat News

Corporate Responsibility

WSR

The Board of Trustees of Whitestone REIT has rejected the nomination of two candidates proposed by Erez Asset Management for inclusion on the REIT's board. This decision indicates a potential conflict between the REIT's current management and Erez Asset Management regarding the direction of the company.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 10:15 pm

CYT

Cyteir Therapeutics, Inc. (NASDAQ:CYT) announced its intent to delist its common stock from the Nasdaq Global Select Market, with trading suspension effective before the market opens on March 18, 2024. This move precedes the company's filing of a certificate of dissolution on March 20, 2024, and the closure of its stock transfer books. The official delisting is expected to be effective on March 28, 2024. This decision is part of Cyteir's Plan of Complete Liquidation and Dissolution, approved by its board and stockholders, due to the costs and burdens of being a publicly traded company amidst its planned dissolution.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:53 pm

FNKO

Funko announced that Steve Nave resigned from his positions as CFO and COO on March 6. This change in executive leadership could impact the company's operations and financial strategies moving forward.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:47 pm

WKC

World Kinect Corporation (NYSE:WKC) has increased its quarterly cash dividend from $0.14 to $0.17 per share, a 21% rise. The new dividend will be payable on April 16, 2024, to shareholders of record as of March 25, 2024. The company cites strong operating cash flow and a healthy balance sheet as enabling factors for this increase, alongside ongoing investments in core business activities and share repurchase activities.

Portfolio Pulse from Happy Mohamed

March 07, 2024 | 9:43 pm

IOT

Samsara Inc. (NYSE:IOT) has entered into a strategic partnership with TMS, a leading logistics and transportation company in Mexico, to enhance road safety and reduce accidents by 24% in 2024. TMS will integrate Samsara's AI Dash Cams into its security program to improve driver safety and operational efficiency. This collaboration aims to leverage cutting-edge technology to achieve significant reductions in accidents and associated costs, with a focus on driver well-being and the recruitment of women drivers.

Portfolio Pulse from Happy Mohamed

March 07, 2024 | 9:40 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) and IMC celebrated the unveiling of IMC's 50 Nikola hydrogen fuel cell electric trucks at the grand opening of IMC's sustainable facility in Compton. This event marks a significant step in their partnership aimed at decarbonizing the drayage sector. IMC has already received 10 trucks, with 40 more expected by the end of 2024. These trucks, purchased through Tom's Truck Centers, support California's push towards zero-emission vehicles in drayage operations.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:33 pm

NDLS

Noodles & Company (NASDAQ:NDLS) has appointed Drew Madsen as its permanent CEO effective March 6, 2024. Madsen, with extensive experience in the restaurant industry, including roles at Panera Bread and Darden Restaurants, aims to drive traffic growth and create long-term shareholder value through strategic priorities and operational excellence.

Portfolio Pulse from Happy Mohamed

March 07, 2024 | 9:33 pm

CLOV

Clover Health announces Clay Thornton as the new CFO of its Medicare Advantage division. Thornton, with a strong background in healthcare financial management and operational leadership, aims to drive the company towards Adjusted EBITDA profitability by 2024. His experience includes significant roles at Humana Inc., and his expertise is expected to bolster Clover's PPO-first product strategy and use of technology in managed care.

Portfolio Pulse from Happy Mohamed

March 07, 2024 | 9:26 pm

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