Streetbeat News

Corporate Responsibility

BAC

JPM

UBS

WFC

Major Wall Street banks, including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, UBS Group, and Wells Fargo, are changing their policies to no longer require marijuana and other substance tests for job applicants. This reflects the growing acceptance of cannabis, legal changes, and the need to attract talent in a competitive job market.

Portfolio Pulse from Patricio Liddle

February 01, 2024 | 7:54 pm

ATGE

Adtalem Global Education announced in an SEC filing that it expects its degree programs to pass the Department of Education's Gainful Employment Rule based on currently available data. This indicates a positive outlook for the company's educational offerings in terms of compliance with federal standards.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:00 pm

CHRW

CMND

MINM

NVIV

REVB

C.H. Robinson Worldwide, Inc. (CHRW) shares fell over 12% after reporting Q4 financial results below market expectations. Other stocks showed significant movement, with companies like Minim, Inc. (MINM) and Clearmind Medicine Inc. (CMND) experiencing substantial gains. Conversely, Revelation Biosciences, Inc. (REVB) and InVivo Therapeutics Holdings Corp. (NVIV) saw notable declines. The article also highlights stocks that moved due to earnings reports, strategic agreements, and other corporate actions.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 6:17 pm

BTI

The FDA has issued warning letters to 14 online e-cigarette retailers for selling unauthorized vaping products. This action is part of the FDA's ongoing efforts to regulate the e-cigarette market and protect consumers, especially minors, from the dangers of vaping. The companies involved are not directly named, but the article hints that major tobacco companies like British American Tobacco (BTI), Altria Group (MO), and Philip Morris International (PM) may be indirectly affected due to their investments in the vaping industry.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:58 pm

TSLA

A Delaware judge rescinded Elon Musk's $55.8 billion Tesla pay package, calling it an 'unfathomable sum.' Musk responded with a cryptic 'Interesting' and criticized Delaware as a state of incorporation, suggesting Nevada or Texas as better alternatives. This follows a previous legal encounter Musk had with the same judge over his Twitter acquisition. Tesla shares dropped 1.1% following the news.

Portfolio Pulse from Rounak Jain

February 01, 2024 | 4:12 pm

HYMTF

Workers at Hyundai Motor Co.'s Alabama plant have unionized with the UAW, citing poor working conditions and inadequate compensation. This marks the third unionization drive at a Southeastern automaker. The UAW's success follows a campaign that included strikes against the Big Three automakers, resulting in wage increases and workplace reforms. The UAW has also initiated legal action against Honda, Hyundai, and Volkswagen for alleged anti-union tactics.

Portfolio Pulse from Benzinga Neuro

February 01, 2024 | 4:11 pm

CMPR

ETN

NXT

SPWR

Eaton Corporation plc (ETN) reported better-than-expected Q4 financial results, leading to a 6.2% rise in its shares. Other companies like Cimpress plc (CMPR), Nextracker Inc. (NXT), and SunPower Corporation (SPWR) also saw significant gains following positive financial results or corporate announcements. The overall market sentiment was positive, with the Dow Jones gaining over 100 points.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 3:46 pm

ETSY

Etsy's stock price increased following the announcement of Marc Steinberg from Elliott Investment Management joining its board.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:28 pm

PSNY

Polestar Automotive's stock is trading lower following an announcement by Volvo Cars that it will cease to provide further funding to the company. This decision by Volvo, a major stakeholder, could significantly impact Polestar's financial stability and future growth prospects.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:25 pm

LCID

Lucid Group Inc (NASDAQ:LCID) shares have increased by over 30% in the last week, with a 27% rally at the start of the week alongside other EV stocks recovering from recent declines. The rally is attributed to a new partnership with Ma'aden Rolling for aluminum sheets for its U.S. factories and the appointment of Matt Everitt as General Counsel. Other EV makers like Nio, XPeng, and Li Auto reported strong January deliveries, contributing to the sector's momentum. Lucid does not pay dividends but engages in other value-returning activities.

Portfolio Pulse from Adam Eckert

February 01, 2024 | 3:11 pm