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Corporate Responsibility

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META

The Canadian government, led by Prime Minister Justin Trudeau, has introduced the Online Harms Act to regulate and remove harmful online content by holding major tech companies accountable. This includes platforms like TikTok, X Corp., Meta Platforms Inc. (META), and Alphabet Inc.'s YouTube (GOOG, GOOGL). The law mandates active regulation and removal of content that bullies, sexually victimizes children, incites extremism, violence, or hatred. A new regulatory body, the Digital Safety Commission, will enforce rules and handle complaints.

Portfolio Pulse from Ananya Gairola

February 27, 2024 | 2:44 am

MSFT

Elon Musk has publicly requested Microsoft CEO Satya Nadella to modify the Windows PC setup process to allow users to opt out of creating a Microsoft account. Musk's request, made via a post on X (formerly Twitter), highlights his frustration with the current setup process that mandates a Microsoft account, especially when connected to WiFi, and restricts the use of work email addresses for account creation. This interaction underscores Musk's ongoing critique of Microsoft's AI development and its partnership with OpenAI.

Portfolio Pulse from Ananya Gairola

February 27, 2024 | 1:56 am

KAVL

Kaival Brands announced the immediate resignation of Barry M. Hopkins as Interim CEO and President, and named Eric Mosser as the new President and Interim CEO.

Portfolio Pulse from Charles Gross

February 26, 2024 | 10:50 pm

DIS

Sean Bailey, the longtime president of Walt Disney Studios Motion Picture Production, has stepped down. Under his leadership, Disney saw success with live-action movies like 'Aladdin' and 'The Lion King'. However, Disney has recently experienced a decline in box office performance.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:49 pm

DIS

Sean Bailey, the President of Motion Picture Studios at Walt Disney, is leaving the company. This news was reported by Deadline Hollywood. The departure marks a significant change in leadership for Disney's film division.

Portfolio Pulse from Charles Gross

February 26, 2024 | 10:46 pm

ISDR

Issuer Direct Corp announced the resignation of CFO Timothy Pitoniak according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:06 pm

EXPE

Expedia announced on Feb. 22 that it is undertaking restructuring actions, including a workforce reduction impacting approximately 1,500 employees. The company expects total pre-tax charges and cash expenditures related to these actions to be between $80M and $100M.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:06 pm

AEP

American Electric Power (AEP) announced a CEO transition with Benjamin G.S. Fowke III appointed as interim CEO & President, succeeding Julie A. Sloat. Sara Martinez Tucker is named Chair of the Board. AEP reaffirmed its 2024 operating earnings guidance range of $5.53-$5.73. The leadership change is part of a strategic move to position AEP for future success, with no disagreements or ethical concerns cited for Sloat's departure. AEP is also conducting an external search for a permanent CEO.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:47 pm

OCTO

Eightco Holdings Inc. (NASDAQ:OCTO) has completed its final repayment of the Hudson Bay Note ahead of schedule, reducing debt and enabling growth for its subsidiary Forever 8. The company also conducted a private placement at $0.82 per share and issued promissory notes to investors. Changes in company officers and the issuance of common stock to settle obligations were announced. These financial maneuvers aim to reduce costs and focus resources on Forever 8's growth.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:44 pm

DAWN

Day One Biopharmaceuticals (NASDAQ:DAWN) reported its 2023 financial results, highlighting a strong cash position of $366.3M, providing a runway into 2026. The company is preparing for the potential approval and launch of tovorafenib, with a PDUFA target date set for April 30, 2024. Significant progress was made in clinical trials, including the publication of Phase 2 FIREFLY-1 results in Nature Medicine and the ongoing Phase 3 FIREFLY-2/LOGGIC trial. R&D and G&A expenses increased due to expanded clinical activities and commercial preparedness efforts. The company also announced key leadership changes and board additions.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:42 pm