Streetbeat News

Corporate Responsibility

M

Macy's has outlined its strategic priorities aimed at boosting growth. These include accelerating luxury segment growth, simplifying and modernizing operations, and reinforcing the Macy's brand. The company targets low-single-digit annual growth in comparable sales across owned, licensed, and marketplace channels.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 12:00 pm

BDX

Dave Hickey, EVP and President of the Life Sciences segment at Becton, Dickinson and Company (BDX), will retire effective July 1. Hickey has been with BD since 2014, holding various leadership roles.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 11:52 am

SYNA

Synaptics announced the immediate resignation of CFO Dean Butler, who will remain as an advisor until April 5, 2024. Esther Song steps in as Principal Accounting Officer, while retired CAO Kermit Nolan returns as a consultant.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 11:36 am

PRGO

Perrigo announced 'Project Energize', a program to be launched in Q1 2024 aimed at driving sustainable, value accretive growth. The initiative expects to achieve annual pre-tax savings of $140M-$170M by 2026, with a portion of these savings ($40M-$60M) reinvested into the business. The restructuring will affect about 6% of Perrigo's workforce and incur charges of $140M-$160M, including investments to enhance capabilities.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 11:35 am

CNNE

Cannae Holdings, Inc. (CNNE) has announced the termination of its Management Services Agreement with Trasimene Capital Management, effective July 2, 2024. Trasimene will receive a fixed management fee of $7.6 million annually for three years and a $20 million termination fee, payable in three annual installments starting July 2, 2024. William P. Foley, II will serve as CEO, CIO, and Chairman of Cannae's Board, and Ryan Caswell will continue as President of the Company, both under three-year employment agreements.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 11:27 am

PRVA

Privia Health Group (PRVA) projects its FY24 revenue to be between $1.600B and $1.675B, significantly below the estimated $3.24B. The company plans to focus on organic provider growth, renegotiate Medicare Advantage arrangements, and exit the Delaware ACO to improve margins and increase free cash flow. Despite a projected decrease in practice collections due to these changes, PRVA expects an increase in care margin, platform contribution, and Adjusted EBITDA.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 11:17 am

INFY

Infosys (NYSE:INFY) announced the launch of its Responsible AI Suite, part of Infosys Topaz, aimed at helping enterprises navigate the regulatory and ethical complexities of AI-powered transformation.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:12 am

TCTM

TCTM Kids IT Education Inc. (NASDAQ:TCTM), previously known as Tarena International, Inc., announced that its American depositary shares will start trading under the new name 'TCTM Kids IT Education Inc.' on Nasdaq from February 28, 2024. This follows a special resolution approved at an Extraordinary General Meeting of Shareholders on February 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:03 am

META

Meta Platforms Inc. (NASDAQ:META) is set to unveil its first 'true' augmented reality (AR) glasses, codenamed Orion, at its Connect developer event this fall. The AR glasses, developed by Meta's Reality Labs division, aim to generate excitement in the high-tech wearables market. Although not immediately available for purchase, prototypes are being tested by select employees. This move comes as the smart glasses market grows, with Meta and competitors like Apple investing in AR and VR technologies.

Portfolio Pulse from Ananya Gairola

February 27, 2024 | 9:54 am

VZ

XRX

Xerox Holdings Corporation (NASDAQ:XRX) is adopting Verizon's (NYSE:VZ) Network as a Service (NaaS) Solutions to modernize its IT infrastructure. This move is part of Xerox's broader Reinvention strategy, aiming to create a more efficient IT environment and foster innovation and growth by dynamically scaling network resources.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 9:39 am