Streetbeat News

Corporate Responsibility

VRM

Vroom, Inc. (NASDAQ:VRM) shares plummeted over 50% in after-hours trading following the announcement that the company is discontinuing its used vehicle dealership operations. The decision is part of the Value Maximization Plan to preserve liquidity and maximize stakeholder value. The plan includes halting transactions on vroom.com, liquidating vehicle inventory through wholesale channels, stopping vehicle acquisitions, and reducing the workforce. CEO Thomas Shortt cited the inability to raise necessary capital in the current market as the reason for the decision.

Portfolio Pulse from Ryan Gustafson

January 22, 2024 | 10:29 pm

CGAU

Centerra Gold announced that Ryan Snyder will be promoted to Executive Vice President and CFO, effective April 8, 2024. The current CFO, Darren Millman, is leaving the company to pursue another opportunity.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 10:04 pm

NFLX

Netflix shares have dropped in after-hours trading following a Bloomberg report that Netflix's Film Chief, Scott Stuber, is planning to leave the company to start a new venture.

Portfolio Pulse from Charles Gross

January 22, 2024 | 9:58 pm

GIL

Turtle Creek Asset Management has issued an open letter to the board of Gildan Activewear, urging them to call a special meeting without delay. The content of the letter and the specific reasons for the request for a special meeting were not disclosed in the article.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:49 pm

TCRT

Alaunos Therapeutics has appointed Dale Curtis Hogue as its interim CEO, effective January 20, 2024, according to an SEC filing. Hogue will also continue his role on the company's board.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:38 pm

VRM

Vroom, Inc. (VRM) shares have dropped following the company's announcement that it will cease its ecommerce operations and shut down its used vehicle dealership business.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:35 pm

NBTB

NBT Bancorp announced that John H. Watt will step down as President and CEO on May 21, 2024. Scott A. Kingsley has been promoted to succeed Watt. Watt will continue to serve on the Board of Directors and will be named Vice Chairman in May. The succession plan was unanimously approved by NBT's Board of Directors after a 10-month process.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:24 pm

DIS

Blackwells Capital has filed a preliminary proxy statement for Disney's 2024 Annual Meeting, advocating for changes in the board to support Disney's transformation. They have reiterated their demand for Trian to end its campaign and have invited Ike Perlmutter to meet with their nominees. Blackwells insists that Disney should disseminate information equally among all shareholders, not just ValueAct.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:23 pm

PATH

UiPath, Inc. (NYSE:PATH) shares experienced an uptick on Monday, rising over 7.50%, breaking away from a selloff that began at the end of December. The stock had reached a 52-week high at the end of December but then fell nearly 20% due to rising Treasury yields and general market weakness. The recent rise in shares did not have a major catalyst, although the company announced Pradeep Kumar as the new Senior Vice President of Services and Customer Success. Additionally, UiPath appointed Rob Enslin and June Yang to its Board of Directors and received an updated price target from Barclays analyst Raimo Lenschow, who maintained an Equal-Weight rating and raised the target from $21 to $23.

Portfolio Pulse from Ryan Gustafson

January 22, 2024 | 9:12 pm

VRM

Vroom, Inc. is shutting down its e-commerce operations for used vehicles, halting transactions through its website vroom.com, and intends to sell its existing used vehicle inventory through wholesale channels.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:11 pm