Streetbeat News

Corporate Responsibility

PLCE

Children's Place has experienced a change of control due to actions by Mithaq, leading to an event of default under its amended and restated credit agreement. The company is currently in discussions with lenders to seek a waiver for this event of default.

Portfolio Pulse from Charles Gross

February 15, 2024 | 11:43 am

GOOG

META

Elon Musk and Marc Andreessen highlighted a statistic showing a significant decline in socializing among American teens, with less than 60% going out with friends more than twice a week, a drop from nearly 80% in the 1970s. The report attributes this decline to increased screen time and a shift towards digital interaction, which correlates with rising feelings of loneliness, depression, and suicidal thoughts among teenagers. Concurrently, New York City has sued TikTok, Meta Platforms Inc. (META), and Alphabet Inc. (GOOG, GOOGL) over alleged harm to kids' mental health, accusing them of designing platforms that addict young users with minimal parental oversight.

Portfolio Pulse from Rounak Jain

February 15, 2024 | 11:41 am

PLCE

Children's Place has received a notification from Snowball Compounding and related parties to Mithaq Capital, stating they own approximately 54% of the company's stock. They intend to accept Mithaq's request to enter discussions regarding the provision of financing to assist with the company's liquidity needs.

Portfolio Pulse from Charles Gross

February 15, 2024 | 11:41 am

RDNT

RadNet has announced the creation of a new diagnostic imaging career training program in collaboration with JVS SoCal. This initiative aims to address the growing demand for skilled professionals in the diagnostic imaging sector.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 11:10 am

CLF

Cleveland-Cliffs announced it will indefinitely idle its tinplate production plant in Weirton, West Virginia, in April 2024 due to an unfavorable ruling from the International Trade Commission (ITC).

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 11:06 am

CCI

Ted Miller, co-founder of Crown Castle, has nominated himself and three others for seats on the company's board, according to The Wall Street Journal. This move suggests potential shifts in governance and strategy at one of the largest wireless tower companies.

Portfolio Pulse from Charles Gross

February 15, 2024 | 9:42 am

BYDDY

F

Ford Motor Co views Chinese EV makers as a significant strategic threat to its business in the U.S., with Ford's EV COO Marin Gjaja highlighting the technological advancements and strategic moves, such as potential factory setups in Mexico by Chinese companies like BYD Co Ltd, to circumvent U.S. tariffs. Ford is focusing on cost and efficiency in its EV development to compete with Tesla and affordable Chinese EVs.

Portfolio Pulse from Anan Ashraf

February 15, 2024 | 8:15 am

MESO

The FDA has granted Orphan-Drug Status to Mesoblast Limited's Revascor® for treating children with hypoplastic left heart syndrome (HLHS), a severe congenital heart condition. This designation follows a Rare Pediatric Disease Designation received last month, highlighting the therapy's potential in addressing a critical pediatric health issue.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 7:54 am

CRWD

CrowdStrike (NASDAQ:CRWD) has opened a new, state-of-the-art office in Pune, India, nearly doubling its previous capacity in the region. This move strengthens CrowdStrike's commitment to providing leading cybersecurity protection to organizations in India and the broader region.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 7:41 am

TSLA

Elon Musk has declared a boycott against acquiring Delaware-incorporated companies due to a recent legal setback in Delaware, where a judge invalidated his $56 billion pay package at Tesla. Musk's stance follows a ruling by Delaware's Court of Chancery and has led to his companies, including Neuralink and SpaceX, moving their incorporations to Nevada and Texas, respectively. Tesla's incorporation move to Texas is pending a shareholder vote.

Portfolio Pulse from Anan Ashraf

February 15, 2024 | 7:23 am