Streetbeat News

Corporate Responsibility

POST

Rob Vitale, President and CEO of Post Holdings, is set to return from medical leave effective January 30. His return is expected to bring stable leadership back to the company.

Portfolio Pulse from Charles Gross

January 30, 2024 | 10:02 pm

APOG

Apogee Enterprises announced strategic changes under Project Fortify, including workforce reduction by 250 employees, elimination of lower-margin products, and consolidation of its Architectural Framing Systems segment. Production will be transferred from Michigan to facilities in Missouri and Wisconsin.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:59 pm

MPTI

M-tron Industries has formed a special independent strategic committee to explore strategies to enhance value, including defense engagements, joint ventures, and potential M&A activity in the aerospace and defense industry.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:51 pm

TSLA

A Delaware judge has ruled in favor of plaintiffs challenging Elon Musk's $56 billion compensation package from Tesla, potentially impacting the validity and structure of the package.

Portfolio Pulse from Charles Gross

January 30, 2024 | 9:46 pm

GOOG

GOOGL

During Alphabet's conference call, CEO Sundar Pichai reported that the company's cloud segment experienced accelerated growth, attributing this to the impact of generative AI and product leadership. Pichai also mentioned that Alphabet is experimenting with Gemini AI in its search operations.

Portfolio Pulse from Charles Gross

January 30, 2024 | 9:40 pm

NAVI

Navient, a major player in the student loan servicing sector, has announced plans to outsource its student loan servicing operations following a comprehensive review of its business. Additionally, the company is exploring strategic options for its Business Processing division, which could include a sale or other transaction. These strategic actions are aimed at optimizing Navient's business model and focusing on areas with the most potential for growth and profitability.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:32 pm

NAVI

Navient Corporation plans to outsource its student loan servicing operations to create a variable expense model. The company is also exploring strategic options for its Business Processing division, which may include a potential divestment.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:31 pm

TSLA

Elon Musk's Neuralink has successfully performed its first human implant procedure, with the patient recovering well. The FDA approved Neuralink's first in-human clinical study in May 2023. The device, named 'Telepathy,' is designed to help paralysis patients control devices through thought. Jim Cramer praised the achievement on CNBC, contrasting it with his recent skepticism towards Tesla (NASDAQ:TSLA), and suggested that Musk could be recognized as one of the greatest minds ever for this advancement.

Portfolio Pulse from Adam Eckert

January 30, 2024 | 8:37 pm

ADBE

Adobe Systems Incorporated has decided to discontinue investment in its XD web-design program following the collapse of its deal to acquire Figma, a rival design software company. Adobe will now focus on delivering future product design features through partnerships rather than in-house development.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 7:38 pm

VUZI

Vuzix, a company specializing in augmented reality (AR) technology, has announced its capability to supply optical waveguides with integrated vision correction prescriptions. This advancement could potentially enhance the usability of AR products for individuals with vision impairments. Vuzix CEO Paul Travers is set to present this development at the SPIE Photonics West event today.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 7:02 pm