Streetbeat News

Corporate Responsibility

MNY

MoneyHero Group announced the resignation of Shaun Kraft, its CFO and COO, effective May 4, 2024. Ivan Ho will serve as interim CFO, while CEO Prashant Aggarwal and senior team members will assume COO responsibilities.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:33 pm

NET

Cloudflare, Inc. (NYSE:NET) has appointed Mark Anderson, a seasoned executive with over 25 years of experience in scaling enterprise technology companies, as its President of Revenue. Anderson, who has been a member of Cloudflare's Board of Directors since 2019, aims to accelerate Cloudflare's growth to achieve $5 billion in annual recurring revenue. He has previously contributed to significant revenue growth at companies like Alteryx, Palo Alto Networks, and F5 Networks. Anderson's appointment is part of Cloudflare's strategy to enhance its go-to-market efforts and continue its trajectory of growth, building on the strong foundation laid by Marc Boroditsky, the former President of Revenue.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:28 pm

SYBX

Synlogic announced it will cease operations and reduce its workforce by over 90%. This decision comes as a significant move for the company, impacting its future direction and operations.

Portfolio Pulse from Charles Gross

February 08, 2024 | 9:27 pm

MRAI

Marpai, Inc. (NASDAQ:MRAI) announced two key financial agreements: an amendment with AXA S.A. to delay payment obligations and secure $1.7 million in revenue-based financing from Libertas Funding, LLC. The amendment with AXA reduces the 2024 payment to $473,688 and delays further payments to 2025, with potential payment reduction criteria including maintaining NASDAQ listing. Marpai's CEO, Damien Lamendola, commits to investing $3 million in equity in 2024. The financing from Libertas, which has provided over $2.6 billion to businesses since 2016, will be used for short-term working capital needs.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:15 pm

EXPE

Expedia Group has announced that Ariane Gorin will succeed Peter Kern as CEO. This leadership change is part of the company's ongoing strategy to strengthen its position in the travel industry. The transition is expected to bring fresh perspectives to Expedia's operations and potentially drive innovation and growth within the company.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:03 pm

EXPE

Expedia Group has announced the appointment of Ariane Gorin as its new CEO, effective May 13, 2024. This strategic leadership change is expected to guide the company through its next phase of growth and innovation.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:02 pm

NVDA

Nvidia Corp (NASDAQ:NVDA) faces a supply crisis for its RTX 4090 graphics cards due to high demand and US sanctions on chip exports to China. This has led to price hikes of up to 60% and a surge in demand for Nvidia's H100 chips. The company is also launching the H20 chip for the Chinese market, amidst broader industry concerns over geopolitical tensions and the need for supply chain diversification.

Portfolio Pulse from Anusuya Lahiri

February 08, 2024 | 8:37 pm

SAVE

Spirit Airlines is exploring options to manage its debt maturities for 2025 and 2026 after the failed merger with JetBlue. The airline has engaged Davis Polk and Perella Weinberg as advisers to navigate this financial restructuring.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:34 pm

BRK

FRFHF

Carson Block of Muddy Waters Research announced a short position on Fairfax Financial Holdings (OTCPK: FRFHF), accusing it of financial manipulation and overvaluing assets. Fairfax responded, disagreeing with the allegations. Shares of Fairfax fell nearly 9% following the report. Block criticized Fairfax's financial practices, including investments and governance, comparing its aspirations to Berkshire Hathaway (NYSE:BRK) unfavorably.

Portfolio Pulse from Piero Cingari

February 08, 2024 | 5:25 pm

MARX

Mars Acquisition announced that Shanchun Huang has resigned as Chairman, effective Feb 6. Karl Brenza is set to replace him as the new Chairman of the Board, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 4:48 pm