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Corporate Responsibility

AAL

The CFO of American Airlines has announced plans to grow the airline's capacity by mid single digits in 2024. This strategic move indicates an expansion of services and potential growth for the company.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:43 pm

XXII

22nd Century Group announced the mutual termination of the employment and retention agreements with CFO R. Hugh Kinsman, according to an SEC filing. Kinsman will continue to serve as the company's CFO on an at-will basis, and the termination is not expected to impact his role within the company.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:39 pm

NVTS

Navitas Semiconductor (NASDAQ:NVTS) and SHINRY have opened a joint R&D power laboratory to accelerate the development of New-Energy Vehicle (NEV) power systems using Navitas' GaNFast technology. The lab aims to create more efficient, higher power density, and cost-effective power systems for NEVs. The collaboration will involve system-level R&D and support from Navitas' EV system Design Center in Shanghai. The partnership is expected to enhance the market competitiveness of SHINRY's products and contribute to the growth of the new energy industry.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:38 pm

SIDU

Sidus Space's LizzieSat satellite has arrived at Vandenberg Space Force Base in preparation for its launch on SpaceX's Transporter-10 mission, scheduled for no earlier than March 2024. LizzieSat will collect data for agriculture, maritime, and oil and gas industries using advanced sensors and onboard AI. The data delivery is expected to start 30 days post-deployment. The mission also supports NASA and Mission Helios, emphasizing Sidus Space's role in space exploration and scientific data collection.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:37 pm

FB

Meta Platforms Inc. (NASDAQ:FB) has introduced new safety measures for teenagers on Instagram and Facebook, restricting adults from messaging teens who don't follow them and limiting the type and number of DMs to non-followers. The changes also include disabling teens from receiving DMs from unknown contacts and requiring parental consent for supervised accounts to change this setting. These measures are in response to allegations against Meta for not adequately protecting young users from inappropriate content.

Portfolio Pulse from Rounak Jain

January 25, 2024 | 1:37 pm

KRON

Kronos Bio has announced the elimination of several executive officer roles, including the Chief Medical Officer, Chief Scientific Officer, and Chief Operating Officer and General Counsel. This restructuring could indicate a strategic shift or cost-cutting measures by the company.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:18 pm

SRRK

Scholar Rock (NASDAQ:SRRK) announced the presentation of preclinical data for SRK-439, a myostatin inhibitor for obesity treatment, at the Keystone Symposia. The data suggests SRK-439 can preserve lean muscle mass during weight loss when used with GLP-1 receptor agonists. The presentation will occur on February 5, 2024, in Vancouver, and the data will be available on Scholar Rock's website post-presentation. SRK-439 is in preclinical stages and not yet FDA approved.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:06 pm

CRS

Carpenter Technology has announced that it expects to make significant progress towards its long-term goal of doubling its fiscal year 2019 operating income by fiscal year 2027. This goal was communicated during the May 2023 Investor Day, and the company is optimistic due to a strong market demand outlook for its specialized solutions portfolio.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:06 pm

GE

GE Vernova's nuclear segment, GE Hitachi Nuclear Energy, has been awarded a £33.6 million grant from the UK's Future Nuclear Enabling Fund (FNEF), managed by the Department for Business, Energy & Industrial Strategy (BEIS). This grant will support the development of the BWRX-300 small modular reactor (SMR) in the UK, which is expected to contribute to the country's net-zero carbon goals by providing a cost-effective and flexible nuclear power solution.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:05 pm

TSLA

Elon Musk, CEO of Tesla, Inc. (NASDAQ:TSLA), expressed concerns about proxy advisory firms like Institutional Shareholder Services and Glass Lewis potentially voting him out as he aims to grow Tesla into a significant AI and robotics company. Musk seeks to have enough voting control to be influential but not full control, suggesting a 25% stake as ideal. Critics, including Jim Cramer, see this as a potential risk to Tesla's stock price. Tesla's AI and robotics are crucial for its future growth, particularly in self-driving technology and production efficiency. Musk currently owns just under 13% of Tesla and could increase his stake to over 20% through option exercises. Following these revelations, Tesla's stock dropped about 8% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

January 25, 2024 | 12:55 pm