Streetbeat News

Corporate Responsibility

OC

Owens Corning is exploring strategic alternatives for its Global Glass Reinforcements (GR) business, a part of its Composites segment. This business, with $1.3 billion in annual revenues, operates in 11 countries and has 18 manufacturing facilities.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 12:05 pm

AAPL

Apple Inc. (NASDAQ:AAPL) is implementing changes to its App Store in the EU to support third-party app marketplaces as part of iOS 17.4. This includes new features in App Store Connect and TestFlight for developers to set up and beta test their app marketplaces. The move is in response to the EU's Digital Markets Act aiming to increase competition, but has raised security concerns among Apple executives. Meta Platforms CEO criticized the proposal, highlighting a 'Core Technology Fee' that could cost developers significantly.

Portfolio Pulse from Rounak Jain

February 09, 2024 | 12:05 pm

TU

TELUS Corp has set its financial targets for 2024, aiming for TTech Operating Revenue growth of 2%-4%, an Adjusted EBITDA growth of 5.5%-7.5%, a Free Cash Flow of approximately $2.3 billion, and Capital Expenditures of about $2.6 billion. These targets are supported by TELUS' diversified growth businesses including TELUS International, TELUS Health, and TELUS Agriculture & Consumer Goods, and are part of a strategic focus on subscriber growth, network investments, and cost efficiency.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 11:56 am

NSTG

NanoString Technologies, Inc. (NSTG) has successfully completed a financing round, securing $47.5 million from existing noteholders, an increase from the initially committed $40 million. This financing is aimed at supporting the company's restructuring process.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 11:33 am

DUK

Duke Energy Corporation (NYSE:DUK) is phasing out CATL batteries at its civilian projects and decommissioning them at a major Marine Corps base due to concerns over security and pressure from Congress. This decision follows warnings from U.S. officials about potential Chinese government-linked hacking threats to critical infrastructure. Duke Energy aims to replace CATL batteries with those from domestic or allied suppliers by 2027, emphasizing support for a robust American supply chain. Despite reporting an adjusted EPS increase, Duke Energy missed consensus revenue and EPS estimates in its latest financial report.

Portfolio Pulse from Lekha Gupta

February 09, 2024 | 10:55 am

STLA

Stellantis NV (STLA) and Mercedes-Benz Group AG are nearing a €4.4 billion ($4.7 billion) debt deal for their joint venture, Automotive Cells Company SE (ACC), to expand its electric vehicle battery production in Europe. The funds will be used to enlarge ACC's French factory and to establish new sites in Germany and Italy, with a consortium of banks likely backing the deal. This move aligns with the EU's goal to develop a local EV supply chain and reduce reliance on Asian battery suppliers. Stellantis and Mercedes plan to increase their equity stakes in ACC.

Portfolio Pulse from Benzinga Neuro

February 09, 2024 | 10:36 am

ABNB

AFRM

EXPE

ILMN

PINS

PLCE

SAVE

SSL

TTWO

Expedia Group, Inc. (EXPE) reported Q4 earnings of $1.72 per share, surpassing estimates, with sales of $2.89 billion also beating expectations. The company announced Ariane Gorin as the new CEO and highlighted record lodging and hotel gross bookings growth. However, EXPE shares fell 13.3% in pre-market trading. Other stocks like PLCE, PINS, AFRM, TTWO, SSL, ABNB, SAVE, and ILMN also saw declines in pre-market trading due to various financial results and forecasts.

Portfolio Pulse from Avi Kapoor

February 09, 2024 | 9:57 am

GM

General Motors Co (NYSE:GM) has hired Kurt Kelty, a former Tesla executive with over 11 years of experience in battery technology, as its Vice President of Batteries. Kelty, who played a key role in developing Tesla's Gigafactory, will lead GM's battery cell strategy to boost the company's affordable electric vehicle (EV) production. This move comes as GM aims to scale its EV production in North America, with a target of producing 200,000 to 300,000 Ultium-based EVs across its Chevrolet, GMC, Cadillac, and BrightDrop brands, despite acknowledging a slowdown in EV growth and adjusting production targets.

Portfolio Pulse from Anan Ashraf

February 09, 2024 | 9:12 am

GOOG

GOOGL

HSBC

HSBC Holdings PLC (NYSE:HSBC) has partnered with Alphabet Inc's (NASDAQ:GOOGL) (NASDAQ:GOOG) subsidiary Google to achieve its $1 billion climate tech finance goal. The partnership aims to fund fast-growing climate technology firms selected by Google for its Google Cloud Ready-Sustainability program. HSBC will provide financing to these firms to help scale their businesses and promote innovation in climate technology. This collaboration follows HSBC's acquisition of the UK unit of Silicon Valley Bank in 2023 and is part of broader efforts by tech companies to combat climate change.

Portfolio Pulse from Benzinga Neuro

February 09, 2024 | 8:31 am

NWL

Newell Brands Inc. (NWL) is set to release its Q4 earnings on Feb. 9, 2024, with analysts predicting an EPS of 17 cents, up from last year's 16 cents, and revenue of $1.98 billion, down from $2.29 billion. The company announced a 7% reduction in office roles as part of an organizational realignment. Shares rose 6.7% to $8.45. Analysts from Barclays, JP Morgan, Morgan Stanley, and Raymond James have updated their ratings and price targets for NWL.

Portfolio Pulse from Avi Kapoor

February 09, 2024 | 8:11 am