Streetbeat News

Corporate Responsibility

PLUG

Plug Power, Inc. (NASDAQ:PLUG) announced plans to cut its annual operational expenses by over $75 million through layoffs, supply chain optimization, and other cost-reduction measures. The company aims to streamline processes and enhance operational efficiency with automation and digital technologies. Despite the layoffs, affected employees will receive severance packages and career transition support. Plug Power also highlighted recent achievements, including the delivery of liquid hydrogen refuelers and the production of liquid green hydrogen at its Georgia plant, marking it as the largest in the U.S. market. Additionally, Plug Power has secured a contract in Europe for a 500 MW electrolyzer project. Shares of Plug Power rose 2.10% to $4.25.

Portfolio Pulse from Nabaparna Bhattacharya

February 14, 2024 | 2:50 pm

DSX

Diana Shipping Inc. (DSX) has signed contracts for two new Kamsarmax dry bulk vessels with methanol dual fuel capabilities for $46M each, to be built by Tsuneishi Group (Zhoushan) Shipbuilding Inc., China, and delivered by 2027 and 2028. These vessels are designed to meet stringent energy efficiency and GHG emissions standards, capable of operating on methanol or fuel oil, with near-zero GHG emissions when using green methanol. This expansion follows the sale of m/v Artemis, leaving DSX's fleet at 39 vessels with a combined capacity of approximately 4.5 million dwt.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:35 pm

LAES

WKEY

SEALSQ has announced a partnership with CarbonMinus to utilize SEALCOIN for offsetting CO2 emissions. This collaboration aims to leverage blockchain technology for environmental sustainability.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:04 pm

ANSS

Ansys and Schaeffler have partnered to enhance sustainable product development across Schaeffler's operations. Ansys's simulation solutions will digitalize and standardize Schaeffler's product development processes, focusing on decarbonization and the design of hybrid/electric powertrain solutions and industrial applications. This collaboration aims to improve efficiency and reduce material waste in product development.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:03 pm

LIQT

LiqTech International, Inc. (NASDAQ:LIQT) has entered into a distribution agreement with Razorback Direct Oilfield Solutions and Services LLC to commercialize LiqTech's produced water treatment solution in five U.S. states. This solution, leveraging LiqTech's ceramic silicon carbide filtration technologies, aims at tertiary water treatment for re-injection, reuse, and lithium harvest. The partnership aims to expand LiqTech's presence in North America, focusing on sustainability, financial success, and regulatory compliance in the oil and gas industry.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:01 pm

IPX

IperionX is advancing towards commercial-scale titanium production with significant progress at its Virginia Titanium Manufacturing Campus. The company has received the first $2.4M from a $12.7M Department of Defense grant for the Phase I ramp-up. The HAMR titanium furnace, a key asset, has passed factory tests and is expected to be installed in Q2 2024, with titanium production starting mid-year. This initiative aims to revitalize the U.S. titanium supply chain, offering high-performance, low-cost titanium products with lower environmental impacts.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 1:44 pm

CSCO

Cisco Systems, Inc. (CSCO) is set to release its Q2 earnings on Feb. 14, 2024, with analysts expecting a slight decrease in earnings per share compared to the previous year. UBS analyst David Vogt maintained a Neutral rating on Cisco but raised the price target from $54 to $55. The company is also planning a restructuring that may lead to significant job cuts to focus on high-growth sectors. Additionally, the article discusses how investors can earn dividends from Cisco stock, with examples of the investment needed to generate $500 and $100 monthly from its dividends.

Portfolio Pulse from Avi Kapoor

February 14, 2024 | 1:42 pm

AAPL

GOOG

META

Apple Inc. has launched Keyframer, a generative AI tool that animates static images using text prompts. This innovation, part of Apple's expanding AI portfolio, leverages large language models to generate animations from SVG images. Keyframer's development was informed by professional animators and allows for iterative design refinement. This move is in line with Apple's recent AI advancements, including an AI image editing tool and the acquisition of the iWork.ai domain, indicating a strategic push into AI to compete with rivals like Google and Meta Platforms.

Portfolio Pulse from Rounak Jain

February 14, 2024 | 1:39 pm

ENGN

enGene Holdings Inc (NASDAQ:ENGN) shares surged 45.2% to $11.40 after the announcement of CEO Jason Hanson's resignation for personal reasons and a private placement of 20 million shares at $10.00 each, aiming to raise $200 million. The financing is set to close on February 16. The company's stock is currently trading above its 200-day moving average of $8.48, indicating a bullish signal for investors.

Portfolio Pulse from Henry Khederian

February 14, 2024 | 1:36 pm

ETWO

E2open Parent Holdings has appointed Andrew Appel as its new CEO, taking over after a period of interim leadership. Appel is recognized for his growth-focused leadership in the enterprise software sector.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 1:34 pm