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DASH

GETR

UBER

Getaround, Inc. (NYSE:GETR) shares surged in premarket trading after announcing a workforce and operations restructuring plan aimed at cost reduction and aligning with the globalization of the carsharing business. The plan includes a 30% workforce reduction in North America, expected to save $7 million annually. Despite restructuring costs of up to $1 million, Getaround is expanding into gig carsharing for drivers of Uber Technologies, Inc. (NYSE:UBER) and DoorDash, Inc. (NASDAQ:DASH). The company reported a 42% year-over-year revenue increase to $23.8 million for Q3 2023 and secured a $20 million debt facility from Mudrick Capital Management. Getaround forecasts a gross booking value of $200 million to $205 million and an adjusted EBITDA loss of $(68) million to $(70) million for FY 2023. GETR shares rose 6.40% to $0.2811 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

February 08, 2024 | 12:41 pm

BCE

BCE Inc. announced its Q4 and full-year 2023 results, 2024 financial guidance with a 3.1% dividend increase, and a major workforce restructuring reducing 9% of its employees, totaling 4,800 positions.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:10 pm

BCE

BCE Inc. announced its Q4 and full-year 2023 results, 2024 financial guidance, a 3.1% dividend increase to C$3.99, and a major workforce restructuring reducing 9% of its employees.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 12:09 pm

OPY

Oppenheimer & Co. Inc. has announced the appointment of Kristin Stephens and David Moffett as Managing Directors of its Public Finance team. This move is part of the company's efforts to strengthen its position in the public finance sector.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 11:08 am

WMG

Warner Music Group's shares increased following the announcement of mixed Q1 financial results and plans for restructuring, including reducing its workforce.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 10:30 am

GETR

Getaround (NYSE:GETR) announced a major restructuring plan, including a 30% reduction of its North American staff, aiming for cost savings of about $7 million annually. This move is part of the company's strategy to extend its cash runway and accelerate profitability. The restructuring is expected to incur up to $1 million in costs.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:05 am

WMG

Warner Music Group announced a plan to achieve $200M in annual savings, which will be reinvested into growth opportunities. This plan includes reducing its workforce by approximately 10%, or 600 people.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 10:40 pm

MUR

Murphy Oil announced the appointment of Eric M. Hambly as President and COO, effective February 1, 2024. This strategic move could signal a new direction or continued growth for the company.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 9:58 pm

MSTR

MicroStrategy Inc. co-founder Michael Saylor emphasized Bitcoin's potential as an institutional asset class and store of value, predicting 2024 as the year Bitcoin becomes an institutional-grade asset. He compared Bitcoin's evolution to significant financial milestones like the creation of gold ETFs and the S&P index ETF. Saylor highlighted Bitcoin's transition from an unregulated retail asset to a regulated institutional asset, likening it to the digital transformation seen in tech companies like Microsoft, Google, and Apple. He also mentioned the growth of new job opportunities within the Bitcoin industry and argued that Bitcoin ETFs represent a catalytic moment, shifting the narrative towards Bitcoin as a significant store of value.

Portfolio Pulse from Murtuza Merchant

February 07, 2024 | 5:42 pm

FCX

Freeport-McMoRan (NYSE:FCX) announced Kathleen L. Quirk as its new CEO, effective June 11. Quirk, with the company since 1989 and previously CFO and President, succeeds Richard Adkerson, who remains Chairman. The leadership transition is part of a strategic plan, with Quirk's extensive experience expected to continue Freeport's successful trajectory in the mining industry. The company anticipates $5.8 billion in operating cash flows in 2024, with significant sales volumes of copper, gold, and molybdenum.

Portfolio Pulse from Stjepan Kalinic

February 07, 2024 | 5:23 pm