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BABA

Alibaba Group's board of directors announced that Joseph C. Tsai will succeed Daniel Zhang as Chairman, and Eddie Yongming Wu will replace Zhang as CEO and board member, effective September 10, 2023. Zhang will continue to lead Alibaba Cloud Intelligence Group as Chairman and CEO.

Portfolio Pulse from Charles Gross

June 20, 2023 | 9:46 am

GOOGL

T

Google has launched its first foldable smartphone, the Pixel Fold, and is offering a 50% discount on AT&T, reducing the price to $900. The deal is available for existing and new AT&T subscribers, with the option to trade in existing devices for a better deal.

Portfolio Pulse from Rounak Jain

June 20, 2023 | 9:36 am

YVR

Liquid Media has announced the sale of its wholly owned subsidiary IndieFlix Group for $1.2 million, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2023 | 9:28 am

X

United States Steel Corp (NYSE:X) has released its Q2 2023 guidance, expecting adjusted EPS of $1.81-$1.86 and adjusted EBITDA of around $775 million. The company anticipates completing a $75 million share buyback in Q2 and maintaining a $3 billion cash position at quarter-end.

Portfolio Pulse from Lekha Gupta

June 20, 2023 | 9:27 am

QFIN

Qifu Technology's board of directors has approved a $150 million share repurchase plan for its American depositary shares or Class A ordinary shares over the next 12 months starting from June 20, 2023.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2023 | 9:15 am

BWA

BorgWarner Inc plans to acquire Eldor Corporation's Electric Hybrid Systems (EHS) business for €75 million, boosting its ePropulsion portfolio. The acquisition will add high-frequency DC/DC converter technology and enhance its capabilities in 400V and 800V onboard chargers. The deal is expected to close in Q3 2023.

Portfolio Pulse from Lekha Gupta

June 20, 2023 | 9:08 am

MIST

Jefferies analyst Chris Howerton downgraded Milestone Pharmaceuticals (NASDAQ:MIST) from Buy to Hold and lowered the price target from $8 to $4.

Portfolio Pulse from richadhand@benzinga.com

June 20, 2023 | 8:58 am

F

GM

TSLA

Tesla's Model Y emerges as a strong contender to dethrone Ford's F-150 as America's best-loved vehicle. Tesla dominates the overall battery-electric vehicle market share with 60.8%, followed by General Motors' Chevrolet with 7.1% and Ford with 4.9%.

Portfolio Pulse from Anan Ashraf

June 20, 2023 | 8:53 am

BABA

Alibaba Group Holding Ltd (NYSE:BABA) shares are trading lower after announcing Eddie Wu as the new CEO and the continuation of its restructuring plan. Joe Tsai will take over as the group's chairman, while Daniel Zhang will focus on the company's cloud intelligence business.

Portfolio Pulse from Benzinga Newsbot

June 20, 2023 | 8:52 am

NVO

Novo Nordisk is slowing down the rollout of its obesity drug Wegovy in new markets due to higher than expected demand, according to the company's Head of Commercial Strategy.

Portfolio Pulse from Charles Gross

June 20, 2023 | 8:42 am