Streetbeat News

Corporate Responsibility

MAT

Activist investor Barington Capital has acquired a stake in Mattel (NASDAQ:MAT) and is pushing for significant organizational changes to boost the company's underperforming stock. Barington's proposals include exploring strategic alternatives for Fisher-Price and American Girl, addressing stock-based compensation, and initiating a $2 billion share buyback plan. The investor believes these actions could potentially double Mattel's share price in three years. Mattel is reviewing Barington's proposals and has been exploring ways to leverage its intellectual property, including film projects.

Portfolio Pulse from Vandana Singh

February 02, 2024 | 6:02 pm

LFSWF

Lifeist Wellness Inc. (OTC:LFSWF) is divesting its cannabis business, CannMart Group, to 1463663 B.C. Ltd. for CA$5 million ($3.72 million) to focus on nutraceuticals. The deal includes cash, a vendor takeback loan, and share purchase warrants in Tierra Corp. This strategic shift aims to leverage the growing nutraceutical market, forecasted to reach $118.7 billion by 2028, while retaining the option to re-enter the cannabis space.

Portfolio Pulse from Jelena Martinovic

February 02, 2024 | 5:15 pm

FFNTF

FLGC

MMNFF

OGI

SBIG

January saw significant executive and board changes in the cannabis industry. Flora Growth Corp.'s CEO, Clifford Starke, was elected chairman of the U.S. Hemp Roundtable. 4Front Ventures and The Cannabist Company Holdings announced new CEOs. Organigram Holdings and other companies made board appointments, while MedMen Enterprises and BZAM Ltd. saw departures. Trulieve Cannabis appointed a new COO, and other companies expanded their executive teams.

Portfolio Pulse from Jelena Martinovic

February 02, 2024 | 4:01 pm

WNS

WNS shares are trading lower following a termination notice from one of its top five customers by revenue contribution. This event could potentially impact WNS's future revenue and profitability, leading to investor concern and a decrease in stock price.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 4:00 pm

AAPL

AMZN

META

SPY

PETA proposes replacing Punxsutawney Phil with a coin for Groundhog Day predictions, citing the groundhog's low accuracy. The tradition, dating back to the 1800s, attracts thousands annually. Despite Phil's predictions, the SPDR S&P 500 ETF Trust (SPY) showed positive returns on Groundhog Day for the last five years, with no significant impact from the event. Groundhog Day 2024 may see increased stock market volatility due to major company reports from Apple (AAPL), Amazon (AMZN), and Meta Platforms (META), coinciding with the release of Apple Vision Pro headsets.

Portfolio Pulse from Chris Katje

February 02, 2024 | 3:53 pm

TSLA

A Delaware court has voided Elon Musk's $56 billion compensation plan at Tesla Inc. (NASDAQ:TSLA), prompting activist investors to push for corporate governance reforms. These reforms aim to reduce Musk's influence by advocating for changes such as director term lengths and voting thresholds for new bylaws. The ruling has sparked discussions about Tesla's future governance and compensation practices.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 1:41 pm

SPGI

S&P Global has announced the appointment of Christopher Craig as the Interim Chief Financial Officer. This strategic move could signal a transitional period for the company as they search for a permanent CFO.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:07 pm

M

Tony Spring has been announced as the new CEO of Macy's, effective February 4. This leadership change could signal a new strategic direction for the company.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:05 pm

SABS

SAB Biotherapeutics announced that Executive Chairman Samuel J. Reich will expand his role to include that of Chief Executive Officer, effective immediately. This change aims to strengthen the company's leadership as it continues to develop its biotherapeutic solutions.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 12:52 pm

AAPL

The iPhone 15 Pro, a premium variant of Apple Inc.'s latest smartphone series, is facing lower customer satisfaction ratings despite its advanced features. Issues such as overheating, battery life, minor upgrades, and design concerns have been highlighted. This contrasts with CEO Tim Cook's claim of a 99% satisfaction rate for the iPhone 15 series, which also reported a 6% sales increase over the iPhone 14 series and helped Apple secure a 64% US market share in Q4 2023.

Portfolio Pulse from Rounak Jain

February 02, 2024 | 12:45 pm