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Polish Prime Minister Donald Tusk announced a meeting with protesting farmers to address their concerns over EU regulations, rising costs, and competition from Ukraine. Tusk mentioned discussions with Ukraine about potentially closing the border temporarily to address the influx of food products, which Poland finds problematic due to the war's impact on agriculture.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:06 pm

GETR

Getaround (NYSE:GETR) announced Eduardo Iniguez as the new CEO and Jason Mudrick as the Chair of the Board. Iniguez, with a strong background in strategic finance and corporate leadership, aims to focus on right-sizing the business and streamlining operations for greater value. Mudrick, Founder of Mudrick Capital, led Getaround's January 2024 financing. Outgoing CEO, Sam Zaid, will remain on the board. The leadership change is part of Getaround's push towards profitability and long-term growth.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:09 pm

NVAX

Novavax announced a global restructuring and cost reduction plan in May 2023, which includes a 30% reduction in workforce by the end of 1Q'23. Additionally, in January 2024, the company plans to reduce its global workforce by an additional 12%, including a 9% reduction in full-time employees and the remainder in contractors and consultants.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 12:44 pm

BUD

Bud Light, a brand under Anheuser-Busch InBev (NYSE:BUD), experienced a sales slump despite a high-profile Super Bowl ad and an endorsement from former President Donald Trump. The brand has been struggling since a boycott last April led to a 30% decrease in sales. Efforts to recover, including increased marketing spending and public endorsements, have failed to significantly boost sales. Additionally, the International Brotherhood of Teamsters, representing 5,000 Anheuser-Busch employees, has threatened to strike, adding further pressure on the brand.

Portfolio Pulse from Benzinga Neuro

February 28, 2024 | 8:28 am

PHG

Royal Philips (NYSE:PHG) announced the proposal to appoint Charlotte Hanneman as CFO, effective October 1, 2024, succeeding Abhijit Bhattacharya. The proposal will be submitted to the AGM on May 7, 2024. Hanneman will join Philips' Executive Committee on June 1, 2024, for her induction and transition.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 8:17 am

AAPL

GOOGL

Apple Inc (AAPL) has decided to discontinue its electric vehicle (EV) project, Titan, after a decade of development. The decision, supported by Wedbush analyst Dan Ives, comes amid a rapidly evolving EV landscape. Nearly 2,000 employees involved in the project will be redirected to Apple's generative AI division, with some layoffs expected. The move has been met with mixed reactions, with some seeing it as a missed opportunity, while others, like CNBC's Jim Cramer, suggest companies like Alphabet Inc (GOOGL) should follow Apple's focused approach.

Portfolio Pulse from Benzinga Neuro

February 28, 2024 | 5:07 am

AAPL

TSLA

Elon Musk, CEO of Tesla Inc, commented on the challenges of running a car company in response to news that Apple Inc has halted its electric vehicle project. Musk emphasized the difficulty in achieving volume production with positive cash flow, a sentiment he has expressed before. The discussion was sparked by a report that Apple is redirecting resources from its EV project to its generative AI division, with potential layoffs expected. This decision comes after repeated delays and leadership changes in the project, alongside concerns about profit margins.

Portfolio Pulse from Anan Ashraf

February 28, 2024 | 3:19 am

AAPL

TSLA

Ross Gerber criticized Apple Inc's decision to halt its electric vehicle (EV) development project, Titan, and shift focus to Artificial Intelligence (AI). He mentioned that Apple missed an opportunity to invest in Tesla. Apple has informed nearly 2,000 employees about the project's cancellation, with plans to reassign many to its AI division. The decision comes after repeated delays and changes in the project's leadership and strategy.

Portfolio Pulse from Benzinga Neuro

February 28, 2024 | 3:09 am

SAM

The Boston Beer Company has announced the retirement of Dave Burwick as President, CEO, and Board Member. Michael Spillane will take over as President and CEO. This leadership change could impact the company's strategic direction and investor confidence.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:57 pm

BMBL

Bumble Inc. (NASDAQ:BMBL) reported Q4 financial results with a loss of 19 cents per share, missing the analyst consensus of 12 cents. Quarterly sales were $273.64 million, below the expected $275.29 million. The company announced a workforce reduction of 350 roles, expecting charges of $20-$25 million, mainly in the first half of 2024. Bumble anticipates Q1 revenue between $262-$268 million and full-year 2024 revenue growth of 8%-11%. Shares dropped 6.68% after-hours to $12.30.

Portfolio Pulse from Erica Kollmann

February 27, 2024 | 9:33 pm