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Corporate Responsibility

BA

LUV

Southwest Airlines CEO stated during a conference call that the company's current focus is on their fleet plan with Boeing, particularly on acquiring the MAX-7 aircraft. However, he acknowledged that Southwest is not in control of the certification date for the MAX-7, which is necessary before the planes can be added to their fleet.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:14 pm

LUV

Southwest Airlines CEO expressed strong confidence in the Boeing 737 MAX 8 during a conference call. The CEO also voiced support for the FAA and its efforts to enhance oversight and improve quality standards for aviation.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:11 pm

LUV

Southwest Airlines CFO anticipates capital expenditures for 2024 to be between $3.5 billion and $4 billion. The company has refined its capacity plans for the current year, allowing for increased flying during shoulder periods, as discussed in a conference call.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:10 pm

AAPL

VGK

Apple Inc. is making significant changes to its App Store in the European Union in response to new digital legislation. The company will allow third-party streaming gaming services to operate globally, and it will implement changes to iOS, Safari, and the App Store specifically for EU customers.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:03 pm

ALK

BA

Alaska Air's executive announced that within 8 days, the MAX 9s will be fully deployed. Additionally, the CEO reported receiving a faulty door plug from Boeing, which is unrelated to previous light or pressurization issues.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 5:30 pm

LUMN

Lumen Technologies' stock is trading higher following the announcement of an amended and restated transaction support agreement with a group of creditors.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:56 pm

META

Meta Platforms Inc. (NASDAQ:META) announced the establishment of a new $800 million data center campus in Jeffersonville, Indiana. The facility will support 100 operational jobs and over 1,250 construction jobs at peak. The data center, expected to be operational in 2026, will be Meta's 18th in the U.S. and 22nd globally. It will be powered by 100% renewable energy and aims for LEED Gold certification. Indiana has committed a 35-year term data center sales tax exemption for Meta, with potential extensions based on additional investments.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:49 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) is laying off 1,900 employees from its Gaming division, which includes Activision Blizzard and Xbox, as part of a post-acquisition strategy to align strategies and execution plans. The layoffs represent about 8% of the 22,000 employees in the division. Leadership changes include the departure of Blizzard president Mike Ybarra and chief design officer Allen Adham. A new president will be announced next week. A previously announced survival game by Blizzard is being canceled. These changes follow Microsoft's $68.7 billion acquisition of Activision Blizzard and come ahead of Microsoft's fiscal second quarter 2024 earnings report. Analysts expect strong performance from Microsoft, with Azure's AI workload growth expected to boost revenue.

Portfolio Pulse from Anusuya Lahiri

January 25, 2024 | 3:41 pm

AMZN

CI

CVS

TSN

UNH

Tyson Foods Inc (TSN) has chosen to partner with startup Rightway, moving away from CVS Health Corp's (CVS) Caremark for pharmacy benefits management. This move, affecting 140,000 employees, is part of Tyson's strategy to reduce drug costs and increase transparency in pricing. The industry is seeing a shift towards smaller PBMs as companies like Blue Shield of California partner with Amazon.com (AMZN), Mark Cuban’s Cost Plus Drug Company, and Abarca for similar services. Major PBMs like CVS' Caremark, Cigna Inc's (CI) Evernorth, and UnitedHealth Group's (UNH) OptumRx, which control a significant market share, are facing criticism for non-transparent practices. Tyson's decision reflects a broader industry trend towards transparency and cost reduction in pharmacy benefits management.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 2:49 pm

TSN

Tyson Foods, Inc. has inaugurated a new $355 million food production facility in Bowling Green, Kentucky, to expand its bacon production. The 400,000-square-foot plant will produce two million pounds of bacon weekly, including Jimmy Dean and Wright Brand products. This expansion aims to meet the growing demand for bacon, which accounts for over $1 billion in sales for Tyson across retail and foodservice. The facility is expected to create nearly 450 jobs and is strategically located for supply chain efficiency. Tyson's bacon brands have shown significant growth, with Jimmy Dean being the fastest-growing retail food brand and Wright Brand leading in the stack category.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 2:14 pm