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Corporate Responsibility

TSVT

2Seventy Bio, a biotechnology company, has announced a workforce reduction of approximately 14%. This move is likely part of a restructuring effort to streamline operations and reduce costs. The company, which may be referred to by its ticker symbol TSVT, is taking this step to better position itself for future growth and sustainability.

Portfolio Pulse from Charles Gross

January 30, 2024 | 12:53 pm

COIN

SLB

TMST

ZION

Insiders at Schlumberger (SLB), Zions Bancorporation (ZION), Coinbase Global (COIN), and TimkenSteel (TMST) have recently sold shares of their companies. Schlumberger's Chief Sustainability Officer sold 8,000 shares, Zions Bancorporation's Exec VP sold 4,093 shares, Coinbase's Director sold 97,836 shares, and TimkenSteel's President and CEO sold 9,500 shares. These sales occurred as Schlumberger reported a revenue increase, Zions Bancorp posted better-than-expected earnings, Coinbase received an analyst upgrade, and TimkenSteel announced a name change to Metallus Inc.

Portfolio Pulse from Avi Kapoor

January 30, 2024 | 12:49 pm

HCA

HCA Healthcare announces the retirement of Bill Rutherford, the current Executive Vice President and Chief Financial Officer. Mike Marks, the current Senior Vice President of Finance, is set to succeed Rutherford as the Executive Vice President and CFO, effective May 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:41 pm

GM

HMC

HYMTF

TM

General Motors (NYSE:GM) dealers are urging the company to consider hybrid models due to customer hesitancy towards fully electric vehicles (EVs). Dealers are concerned about losing customers to competitors like Toyota (NYSE:TM), Honda (NYSE:HMC), and Hyundai (OTC:HYMTF), who offer hybrids. GM's CEO Mary Barra has not ruled out hybrids but remains committed to EVs. The article suggests that GM's EV focus could challenge dealers, especially with industry trends showing increased hybrid sales. GM shares are up 7.69% in premarket trading.

Portfolio Pulse from Vandana Singh

January 30, 2024 | 12:31 pm

MBOT

Microbot Medical Inc. (MBOT) has reached a settlement in a lawsuit filed in 2020 by Empery Asset Master Ltd. and others related to a 2017 securities purchase agreement. The settlement will not affect Microbot's cash position or balance sheet as the cash payable to the plaintiffs is covered by insurance.

Portfolio Pulse from Charles Gross

January 30, 2024 | 12:23 pm

BMY

TSVT

2seventy bio, in partnership with Bristol Myers Squibb, is implementing measures to ensure the commercial growth of Abecma in 2024. The companies are focused on strategies to increase the market presence and sales of Abecma, a therapy option.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:09 pm

TSVT

2seventy bio has announced leadership changes with COO Chip Baird being named as the new CEO. Nick Leschly will take on the role of Chairman of the Board. Vicki Eatwell is set to become the CFO, and Jessica Snow will continue as senior vice president, quality and head of operations. Dan Lynch will resign from the Board in June but will remain as an advisor to the company.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:08 pm

TSVT

2seventy bio has announced a new strategic direction, which will concentrate solely on the commercialization and development of Abecma, its cell therapy for multiple myeloma. The company is streamlining its focus to enhance its position in the cell therapy market and potentially improve its financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:04 pm

JCI

Johnson Controls has announced that it is exploring strategic alternatives for its non-commercial businesses. This could include divestitures or spin-offs as the company seeks to streamline its operations and focus on its core commercial business.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:02 pm

JBLU

JetBlue Airways has announced an agreement to defer approximately $2.5 billion of planned aircraft capital expenditures originally scheduled for 2024 to 2027, now postponed to 2028. This move is aimed at managing the airline's financial commitments and capital expenditure over the next few years.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 11:40 am