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Corporate Responsibility

TM

Toyota Motor plans to start final assembly of electric vehicle batteries at three additional auto plants in Japan and the U.S. to cut costs. The assembly will begin at Toyota's Takaoka plant near Nagoya between spring and fall 2025, at its Miyata plant in western Japan the following winter, and at its Kentucky factory as early as spring 2026. This move aims to reduce the costs associated with transporting heavy finished battery packs.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 4:48 pm

ACI

KR

Kroger Company (NYSE:KR) emphasized its focus on digital transformation at the National Retail Federation Big Show 2024, with CIO Yael Cosset highlighting the impact of AI on the grocery industry. Kroger is also in the process of merging with Albertsons Companies, Inc. (NYSE:ACI), expected to be completed in the first half of Kroger's fiscal 2024. KR shares dropped by 0.88% to $45.74.

Portfolio Pulse from Nabaparna Bhattacharya

January 19, 2024 | 4:32 pm

KIRK

Kirkland's reported positive holiday 2023 comparable sales results, which has led to its shares trading higher. Additionally, the company has promoted Amy Sullivan to the position of CEO.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 3:48 pm

DIS

Blackwells Capital is actively soliciting proxies from Disney shareholders for the election of its director nominees. Additionally, Blackwells is seeking proxies for a proposal to adopt a non-binding, advisory resolution. This move indicates an attempt by Blackwells Capital to influence the board composition and strategic direction of Disney.

Portfolio Pulse from Charles Gross

January 19, 2024 | 3:46 pm

AMZN

Amazon Web Services (AWS) plans to invest approximately $15.5 billion in Japan from 2023 to 2027 to expand data centers and operations. This investment aims to capitalize on the increasing volume of data processed due to the AI boom. AWS has previously invested 1.51 trillion yen in Japan over 12 years. The new investment in Japan will surpass the planned investment in India. John Felton has been appointed as the new CFO of AWS, succeeding Richard Puccio. Despite AWS's slower growth due to economic uncertainty, Amazon has had a significant year with initiatives in robotics, AI, and custom silicon chips, alongside workforce downsizing across various units. Amazon's stock rose 64% last year but is slightly down in the latest trading session.

Portfolio Pulse from Anusuya Lahiri

January 19, 2024 | 3:45 pm

ACHR

MESA

UAL

Mesa Air Group, Inc. (MESA) stock is surging after announcing amended agreements with United Airlines Holdings, Inc. (UAL) that increase block-hour rates and adjust credit terms. The changes are expected to bring Mesa $63.5 million in additional revenue over the next year and improve liquidity. United also agreed to reduce Mesa's credit facility balance by $2.1 million and forgive a $10.5 million bridge loan in exchange for Mesa's investment in Heart Aerospace. Mesa has sold excess CRJ-900 aircraft and engines for $198 million, using the proceeds to pay down $174.3 million in debt. Mesa's CEO believes these moves will significantly increase contract revenue and margins.

Portfolio Pulse from Erica Kollmann

January 19, 2024 | 3:20 pm

LLY

The FDA has discovered manufacturing issues at an Eli Lilly plant in New Jersey. This could potentially impact the company's production capabilities and regulatory compliance.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 3:09 pm

GRFS

An investment company named Scranton, which has ties to Grifols, is expected to provide a public explanation following a report from a hedge fund. This anticipation comes from a statement made by a Grifols board member who is also a shareholder in Scranton. Investors are likely awaiting further details to understand the implications of the hedge fund's findings on Grifols and its relationship with Scranton.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:20 pm

BRP

BRP Group has announced the immediate appointment of Dan Galbraith and Jim Roche as Co-Presidents and CEOs of their respective business areas. This strategic move aims to strengthen leadership within the company and enhance focus on their specific segments.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:04 pm

M

Macy's Inc (NYSE:M) is set to lay off 13% of its corporate workforce, approximately 2,350 positions, which is about 3.5% of its total workforce including Bloomingdale's and Bluemercury subsidiaries. The company is also closing five of its 560 stores. These changes are part of a new strategy to enhance competitiveness and optimize cost structure, overseen by the incoming CEO Tony Spring. The company also plans to offshore certain business areas. Macy's shares rose 0.39% to $18.00 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

January 19, 2024 | 1:59 pm