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Corporate Responsibility

UL

Unilever Plc (NYSE:UL) CEO Hein Schumacher, supported by billionaire Nelson Peltz, is committed to revitalizing the company through a strategic focus on its top 30 brands, streamlining its workforce, and executing a growth action plan. Despite investor skepticism and a history of underperformance, Schumacher is optimistic about the future, emphasizing systematic marketing and operational efficiency. The company has initiated a €1.5 billion share buyback and reported a 7.0% underlying sales growth in FY23. Unilever also plans to sell its Elida Beauty Business to Yellow Wood Partners LLC.

Portfolio Pulse from Vandana Singh

February 12, 2024 | 1:15 pm

FTCI

FTC Solar, Inc. (NASDAQ:FTCI) has officially appointed Cathy Behnen as its Chief Financial Officer, effective immediately. Behnen, who has been serving as Interim CFO since November 2023, brings over 20 years of financial leadership experience to the role. Her appointment is part of FTC Solar's strategy to strengthen its leadership team as it aims for long-term profitable growth. Behnen's background includes roles as CFO and VP of Finance at Penn National Gaming Hollywood Casino Jamul – San Diego, and a Partner at RubinBrown.

Portfolio Pulse from Happy Mohamed

February 12, 2024 | 1:13 pm

WISH

ContextLogic Inc. (WISH) has agreed to sell its operating assets, including the Wish ecommerce platform, to Qoo10 for $173 million in cash, equating to about $6.50 per share, a 44% premium over its last closing price. This sale will leave ContextLogic with significant Net Operating Loss (NOL) carryforwards of approximately $2.7 billion, which it plans to monetize. The company will remain publicly listed and intends to return capital to shareholders if it cannot monetize the NOLs effectively. The transaction is expected to close in Q2 2024, subject to shareholder approval.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 1:03 pm

CLMT

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) announced the execution of a conversion agreement to transform into a Delaware corporation, Calumet Inc. This step follows a previously announced partnership restructuring agreement and is part of Calumet's strategic transformation from an MLP to a C-Corp. The conversion, expected to close in mid-2024, is subject to unitholder approval and other customary conditions. It is intended to be tax-free for unitholders, although some may face tax recapture due to the change in tax status.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 1:02 pm

PPTA

Perpetua has been conditionally awarded up to $34.6 million in additional funding under its existing Technology Investment Agreement through Title III of the Defense Production Act. This funding aims to enhance Perpetua's capabilities and contribute to its growth.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:15 pm

CLDI

Calidi Biotherapeutics announced an upcoming presentation to share details on the development of its systemic enveloped oncolytic virotherapy platform. This platform represents a significant advancement in the field of cancer treatment, focusing on utilizing viruses to target and destroy cancer cells without harming normal cells.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:12 pm

CNNE

Cannae Holdings has announced significant leadership changes, appointing William P. Foley as CEO while Richard Massey will serve as Vice Chairman of the Board. Foley will also retain his position as Chairman of the Board, and Ryan Caswell will continue as the President of the Company.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:09 pm

DWAC

Digital World Acquisition Corp. (DWAC) has entered into a retention bonus agreement with Trump Media & Technology Group (TMTG), effective February 12. Under this agreement, DWAC will be liable for payment of cash bonuses totaling up to $6.4 million to affiliates.

Portfolio Pulse from Charles Gross

February 12, 2024 | 12:08 pm

NSPR

InspireMD has announced the appointment of principal investigators for the C-GUARDIANS II clinical trial of its SwitchGuard Neuroprotection System. This step marks a significant advancement in the trial process, potentially impacting the company's future prospects.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:05 pm

SHEL

Shell (NYSE:SHEL) announced the closure of its hydrogen light-duty passenger fueling stations in California due to supply chain issues and external market factors. This decision, which includes the permanent closure of seven stations, reduces California's hydrogen fueling options by 12% and marks a significant setback for the state's green mobility initiatives. Shell's move aligns with its broader strategy to scale down low-carbon operations, including a 15% workforce reduction in its low-carbon solutions division and the sale of its share in the Schwedt refinery.

Portfolio Pulse from Benzinga Neuro

February 12, 2024 | 11:12 am