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BZFD

BuzzFeed Inc (NASDAQ:BZFD) shares surged 137.42% to $0.52 after-hours following the announcement of selling Complex Networks to NTWRK for $108.6 million, a significant drop from its 2021 purchase price of nearly $300 million. The sale is part of BuzzFeed's strategic restructuring, which includes a 16% workforce reduction to enhance profitability and agility. This move reflects BuzzFeed's focus on its core brands and the broader financial challenges within the digital media industry.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 8:45 am

NKLA

Nikola Corp. (NASDAQ:NKLA) has appointed its CEO, Stephen Girsky, as the acting CFO, effective Feb. 14, without additional compensation. This follows a series of leadership changes, with Girsky being the fourth CEO in four years and succeeding the CFO who resigned in November. Nikola faces financial challenges, with significant losses reported in the third quarter. The company's share price has declined nearly 70% over the past year.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 7:29 am

KDP

NVDA

PCG

RIVN

SQ

NVIDIA Corporation reported better-than-expected Q4 financial results and strong revenue guidance, boosting its shares by 9.1%. Keurig Dr Pepper and PG&E Corporation are expected to report earnings, with KDP shares slightly up and PCG shares slightly down in after-hours trading. Rivian Automotive announced a wider loss than expected and plans to reduce its workforce by 10%, leading to a 15.3% drop in shares. Block, Inc. is also expected to report earnings, with its shares up 2.2% in after-hours trading.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 7:16 am

TSLA

Swedish trade union SEKO announced it will halt maintenance, service, and network expansion of Tesla Inc.'s (NASDAQ:TSLA) charging stations in Sweden in support of the IF Metall union's strike against Tesla. The strike, ongoing since October, aims to pressure Tesla into collective bargaining agreements for better wages and conditions. SEKO's actions, starting March 4, include a blockade on all work related to Tesla's charging stations, potentially affecting Tesla's operations and expansion in Sweden.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 7:12 am

BA

Boeing Co (NYSE:BA) is undergoing a leadership change in its 737 Max program following a recent incident where a door panel blew out during an Alaska Airlines flight. Ed Clark, the current head, will be replaced by Katie Ringgold, with Elizabeth Lund taking a new senior VP of quality role. This comes amid a series of challenges for Boeing, including quality issues, delivery delays, and intensified FAA inspections.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 6:16 am

ERII

Energy Recovery, Inc. (NASDAQ:ERII) announced CFO Joshua Ballard will step down at the end of June 2024. The company is working with Korn Ferry to find his replacement. Ballard has been instrumental in the company's financial and operational growth since joining in 2018. The transition aims to maintain the company's momentum in diversifying beyond its core desalination business.

Portfolio Pulse from Happy Mohamed

February 21, 2024 | 10:19 pm

INSG

Ashish Sharma has resigned as CEO of Inseego, effective February 23. The company, known by its ticker INSG, is now in the process of finding a replacement.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:57 pm

RIVN

Rivian Automotive has announced a reduction of approximately 10% in its salaried workforce. This move is part of the company's efforts to streamline operations and reduce costs amid the competitive electric vehicle market.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:56 pm

RIVN

Rivian Automotive (NASDAQ:RIVN) reported Q4 earnings with revenue of $1.32 billion, surpassing estimates but missed EPS expectations with a loss of $1.36 per share. The company produced 17,541 vehicles and delivered 13,972 in Q4, ending the year with $9.37 billion in cash. For 2024, Rivian aims for cost efficiency and expects to produce 57,000 vehicles with an adjusted EBITDA loss of $2.7 billion. It also plans a 10% workforce reduction and the unveiling of the Rivian R2 on March 7. RIVN shares dropped 17% in after-hours trading.

Portfolio Pulse from Chris Katje

February 21, 2024 | 9:55 pm

BZFD

BuzzFeed announced the sale of Complex to NTWRK for $108.6 million in cash and a strategic restructuring that includes a 16% workforce reduction. This move is aimed at streamlining operations and focusing on core business areas.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:45 pm