Streetbeat News

Corporate Responsibility

SUNW

Sunworks Inc (NASDAQ:SUNW) shares plummeted 52.6% to $0.10 after the company announced it is ceasing operations and has filed for Chapter 7 bankruptcy. The bankruptcy filing in the District of Delaware will lead to the liquidation of the company's assets. CEO Mark Trout and all directors resigned on the same day. The company currently has no officers or board members.

Portfolio Pulse from Henry Khederian

February 06, 2024 | 3:58 pm

ASTS

BIGC

GSK

IEP

KR

PH

Jim Cramer shared his views on several stocks on CNBC's 'Mad Money Lightning Round'. He is bullish on GSK plc, citing its recent legal settlement and positive momentum. Cramer is cautious about AST SpaceMobile and Kroger, due to concerns about profitability and the CFO's departure, respectively. He praised Parker-Hannifin for its strong financial performance and guidance, while dismissing BigCommerce in favor of Amazon. Cramer also expressed uncertainty about Icahn Enterprises' holdings.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 3:56 pm

MAPS

The Brooklyn Nets and NY Liberty have become the first NBA and WNBA teams to enter a sponsorship deal with a CBD brand, Mynd Drinks, as the NBA relaxes its CBD regulations. This partnership, facilitated by BSE Global, marks a significant shift in sports towards embracing wellness and recovery products. The NBA's progressive stance on cannabis, including removing it from its anti-drug testing program, opens new marketing avenues for CBD brands despite advertising restrictions. Kevin Durant's partnership with WM Technology Inc (NASDAQ:MAPS) highlights the growing acceptance of cannabis in the athletic community.

Portfolio Pulse from Patricio Liddle

February 06, 2024 | 3:39 pm

JPM

Chase announced a multi-billion dollar investment to open over 500 new branches, renovate 1,700 locations, and hire 3,500 employees by 2027. The expansion aims to provide greater access to banking in new markets, including underserved communities, and will contribute to local economic growth through construction, community investments, and hiring. Marianne Lake, CEO of Consumer & Community Banking, emphasized the commitment to the financial and overall health of the communities served.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 3:02 pm

KSCP

Knightscope, Inc. (NASDAQ:KSCP), a developer of autonomous security robots and blue light emergency systems, announced the renewal of its K5 Autonomous Security Robot contract for the eighth year by a client in the entertainment industry. The client has cited deterrence results as a key factor for satisfaction. The renewal signifies client satisfaction, trust in Knightscope's Machine-as-a-Service business model, and the potential for future business growth and opportunities.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 2:40 pm

WEWKQ

Adam Neumann, the former CEO and founder of WeWork Inc. (OTCPK: WEWKQ), is attempting to repurchase the company with support from Dan Loeb's Third Point amid its bankruptcy proceedings. WeWork, once valued at $50 billion, now may be worth as low as $500 million. Neumann and Third Point have been seeking information from WeWork since December to formulate a comprehensive offer, focusing on a bankruptcy financing package. The company's financial troubles are attributed to its business model and management issues, with its debt standing at approximately $4 billion.

Portfolio Pulse from Piero Cingari

February 06, 2024 | 2:40 pm

WEWKQ

Adam Neumann, former CEO and founder of WeWork Inc. (OTCPK: WEWKQ), is attempting to acquire the company, now in bankruptcy, with backing from Third Point. Neumann, who left the company in 2019 with a substantial exit package, is collaborating with investors to craft a bid for WeWork, either in whole or for significant assets. The company, once valued at $50 billion, is now estimated to be worth as low as $500 million. WeWork's financial difficulties are attributed to its business model and management issues. The bankruptcy process has been focused on a restructuring plan favoring senior creditors, with SoftBank being a major creditor.

Portfolio Pulse from Piero Cingari

February 06, 2024 | 2:28 pm

UFPT

UFP Technologies, Inc. (NASDAQ:UFPT) announced Mitchell Rock's appointment as President, with R. Jeffrey Bailly continuing as Chairman and CEO. Rock, previously President of the MedTech business, is recognized for his significant contributions and strategic insights within the company and industry. His new role expands his leadership to include the Advanced Components business.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 2:20 pm

GMGI

Golden Matrix Group Inc. (NASDAQ:GMGI) announced a Special Meeting of Shareholders on March 19, 2024, to vote on the acquisition of the MeridianBet Group. The meeting will be virtual, and shareholders as of January 31, 2024, are eligible to vote. Shareholders are encouraged to vote early via methods described in the E-proxy notice.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 2:20 pm

NUWE

Nuwellis has published data showcasing the potential of its Aquadex SmartFlow system's Aquapheresis therapy for treating end-stage liver disease patients with fluid overload. This development could significantly impact the treatment options available for such patients, highlighting the company's innovation in medical technology.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 2:06 pm