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JOBY

Joby Aviation has been granted a Part 145 Maintenance Certificate by the FAA, enabling the company to conduct select maintenance activities on aircraft. This certification is a significant step for Joby as it progresses in the aviation industry, potentially impacting its operational capabilities and market position.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 10:02 am

GETR

Getaround (NYSE:GETR) announced a major restructuring plan, including a 30% reduction of its North American staff, aiming for cost savings of about $7 million annually. This move is part of the company's strategy to extend its cash runway and accelerate profitability. The restructuring is expected to incur up to $1 million in costs.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:05 am

AAPL

A lawsuit accusing Apple Inc. (NASDAQ:AAPL) of overpaying CEO Tim Cook and other executives was dismissed by a federal judge. The lawsuit, filed by a pension fund affiliated with the International Brotherhood of Teamsters, claimed Apple overpaid due to a miscalculation in performance-based stock awards. The judge found Apple had accurately disclosed its pay methods and found no evidence of misconduct.

Portfolio Pulse from Ananya Gairola

February 08, 2024 | 6:47 am

LCID

TSLA

Elon Musk expressed frustration over Lucid Group CEO Peter Rawlinson's $379 million compensation in 2022, especially as Musk's own $56 billion pay package was invalidated by Delaware's Court of Chancery. Despite Lucid's stock dropping about 70.7% over the past year, Rawlinson's compensation starkly contrasts with the performance-based equity compensation plan Musk was under, which was dismissed by a judge as an 'unfathomable sum.'

Portfolio Pulse from Anan Ashraf

February 08, 2024 | 6:07 am

ATI

FCX

USAU

Freeport-McMoRan Inc. (FCX) appoints Kathleen L. Quirk as new president and CEO effective June 11, 2024, with former CEO Richard C. Adkerson remaining as chairman. U.S. Gold Corp. (USAU) highlights the CK Gold Project's economic potential and its significance for the company's growth. Ridgeline Royalties announces new appointments to bolster its growth strategy and focus on battery metals. Allegheny Technologies Inc. (ATI) CFO Don Newman to speak at the Cowen Aerospace & Defense Conference.

Portfolio Pulse from Austin DeNoce

February 07, 2024 | 11:15 pm

WMG

Warner Music Group (WMG) announced it has started the process of exiting its owned and operated (O&O) media properties and in-house ad sales function. Additionally, WMG is in an exclusive process for the potential sale of its news and entertainment websites Uproxx and HipHopDX. The company also decided to wind down the podcasting brand Interval Presents and social media publisher IMGN.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:53 pm

WMG

Warner Music Group announced a plan to achieve $200M in annual savings, which will be reinvested into growth opportunities. This plan includes reducing its workforce by approximately 10%, or 600 people.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:40 pm

MUR

Murphy Oil announced the appointment of Eric M. Hambly as President and COO, effective February 1, 2024. This strategic move could signal a new direction or continued growth for the company.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 9:58 pm

DIS

Disney CEO Bob Iger announced that he has no plans to engage in discussions with activist investor Nelson Peltz, who has been seeking a seat on Disney's board. This statement could indicate a potential standoff between Disney's management and Peltz, possibly affecting the company's strategic decisions and investor relations.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 9:27 pm

DIS

Disney has announced that it is on track to meet or exceed its $7.5 billion annualized savings target by the end of fiscal 2024, indicating a strong focus on efficiency and cost management.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 9:07 pm