Streetbeat News

Corporate Responsibility

BA

Boeing CEO Dave Calhoun emphasizes the company's commitment to enhancing quality across its operations. This statement underscores Boeing's focus on comprehensive actions to improve its products and services.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 12:31 pm

BA

Boeing's CEO, David Calhoun, indicated that the company will not be sharing or updating its financial and operational objectives at this time of year as it usually does. This statement suggests that Boeing may be facing uncertainties or challenges that prevent it from providing such updates.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 12:31 pm

RDCM

RADCOM Ltd. has announced the appointment of Guy Shemesh as its new CEO, succeeding Eyal Harari. Shemesh's leadership is expected to guide the company into its next growth phase.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 12:04 pm

SLGN

Silgan Holdings Inc. has announced a multi-year cost reduction program that aims to save $50 million. The program is designed to enhance the company's operational efficiency and competitiveness.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 11:58 am

TIXT

TELUS International (NYSE: TIXT) has announced a partnership with Morpheus Data to enhance its hybrid cloud platform operations. The collaboration aims to simplify and make more agile the management of TELUS International's hybrid cloud environments, leveraging Morpheus Data's expertise in this area. This strategic move is expected to improve operational efficiencies and potentially lead to better service offerings for TELUS International's customers.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 11:57 am

AULT

Ault Alliance has announced a plan to reorganize the company into two primary holding subsidiaries, Sentinum and Ault Capital Group. The company believes that this restructuring will allow both entities to potentially exceed a billion-dollar valuation within the next 60 months.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 11:38 am

GM

TSLA

General Motors Co (NYSE:GM) plans to cut $1 billion in expenses at its self-driving unit Cruise in 2024 after reporting a $3.48 billion operating loss in 2023. GM CEO Mary Barra reaffirmed commitment to Cruise, considering both internal and external funding for its relaunch. Tesla CEO Elon Musk mocked investors, including T. Rowe Price, for choosing Cruise over Tesla, referencing T. Rowe Price's 2019 investment in Cruise after reducing its Tesla stake. Cruise faces safety concerns and investigations by the DOJ and SEC after an accident.

Portfolio Pulse from Anan Ashraf

January 31, 2024 | 11:19 am

GPI

Group 1 Automotive (GPI) announced plans to reduce costs in the U.K. during Q1 2024, including a headcount reduction of about 10%. This move is aimed at improving operational efficiency amid market conditions.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 11:10 am

F

Ford Motor Co (NYSE:F) will supply over 1,000 F-150 Lightning and Mustang Mach-E electric vehicles to Ecolab as part of the latter's initiative to electrify its North American fleet by 2030. Ecolab aims to reduce costs and save approximately $1,400 in fuel per vehicle annually. Ford's electric truck and SUV will join Ecolab's predominantly Ford fleet, continuing a nearly 100-year partnership between the companies. In 2023, Ford's F-150 Lightning was the best-selling electric truck in America.

Portfolio Pulse from Anan Ashraf

January 31, 2024 | 10:45 am

TSLA

Delaware Chancery Court Chief Judge Kathleen McCormick struck down Tesla CEO Elon Musk's $55 billion 2018 compensation plan, causing uncertainty among analysts and investors. The decision could lead to an appeal or a new compensation package. Analysts like Gary Black and Daniel Ives commented on the potential impacts, while Musk suggested Tesla might change its incorporation to Texas. Tesla's stock fell 3.35% in premarket trading following the news.

Portfolio Pulse from Shanthi Rexaline

January 31, 2024 | 10:17 am