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BABA

DB

EADSY

GOOGL

GRAB

HYMTF

NVDA

SPOT

Spotify plans to launch a more expensive subscription plan called 'Supremium' with high-fidelity audio. Grab Holdings plans to cut its workforce by 5%. Deutsche Bank applies for a digital asset custody license. Google is in talks with Indian suppliers to assemble Pixel smartphones. Chinese vendors bypass the US embargo to supply Nvidia AI chips. Alibaba names Eddie Wu as its new CEO. Hyundai unveils an $85B investment plan for EVs. Airbus confirms a 500 A320 aircraft order from IndiGo.

Portfolio Pulse from Vandana Singh

June 20, 2023 | 1:07 pm

NKLA

Nikola Corp (NYSE:NKLA) shares are trading higher after the company provided an update on its business optimization efforts, including plans to streamline operations, decrease cash spend, and reorganize its workforce. The company's annual cash usage is expected to decrease to under $400 million by 2024, and its hydrogen fuel cell electric truck launch remains on schedule for Q3.

Portfolio Pulse from Adam Eckert

June 20, 2023 | 12:45 pm

GRAB

Grab Holdings Inc (NASDAQ:GRAB) plans to cut its workforce by 5% (around 360 staff) due to the economic impact of the pandemic. This comes after the company reported Q1 FY23 revenue growth of 130% YoY to $525 million, beating consensus estimates.

Portfolio Pulse from Lekha Gupta

June 20, 2023 | 11:49 am

CANO

Cano Health announces leadership change, appointing Mark Kent as interim CEO after Marlow Hernandez agreed to step down immediately. The company is now searching for a permanent CEO and plans to refresh the board with new independent directors.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2023 | 11:23 am

GRAB

Grab is reportedly planning its largest round of job cuts since the pandemic began, aiming to focus on profitability. This news has led to an increase in Grab's share price.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2023 | 11:14 am

LOGI

VFC

VF Corporation has appointed Bracken Darrell, former President and CEO of Logitech International, as its new CEO. Darrell brings a decade of experience from his time at Logitech.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2023 | 11:02 am

BABA

EM

FDX

LZB

NKLA

FedEx, Alibaba, La-Z-Boy, Nikola, and Smart Share Global are stocks to watch on Tuesday. FedEx is expected to report quarterly earnings of $4.89 per share on revenue of $22.77 billion. Alibaba announced Eddie Wu as the new CEO. La-Z-Boy is expected to report earnings of 72 cents per share on revenue of $533.03 million. Nikola plans to lay off 270 employees. Smart Share Global is expected to post a quarterly loss of 2 cents per share on revenue of $114.09 million.

Portfolio Pulse from Lisa Levin

June 20, 2023 | 8:09 am

MSFT

Companies are finding it difficult to bring employees back to offices amid the COVID-19 pandemic. Trials on a four-day workweek have been conducted globally and received positive feedback. Microsoft Corp. (NASDAQ:MSFT) tested a shorter workweek in Japan in 2019 and found that productivity jumped by 40% and employees took less time off.

Portfolio Pulse from Shanthi Rexaline

June 17, 2023 | 7:33 pm

UAL

A group of United Airlines employees have been caught stealing cannabis from checked luggage at San Francisco International Airport. Federal prosecutors charged two baggage handlers with conspiracy to distribute a controlled substance. The scheme has been going on since at least 2020.

Portfolio Pulse from Maureen Meehan

June 16, 2023 | 10:58 pm