Lekha Gupta

Lekha Gupta

Benzinga Editor

Ericsson's Vonage Bet Backfires: Impairment Charge Hits Q2 Due to Lower Market Growth
Ericsson to record non-cash impairment charge of SEK 11.4 billion in Q2 2024. The company expects the charges due to lower expected market growth rates in Vonage's current portfolio.
Leadership Change at NIO: CFO Resigns, Senior VP Takes Charge
NIO announces management change, CFO resigns for personal reasons. Senior VP of Finance promoted. Delivers record number of EVs,
Wildfire Risk Forces Suncor To Shut Down Firebag Oil Sands Site: Report
Suncor Energy temporarily shuts down Firebag oil sands site due to nearby wildfire, stating no risk to other operations.
Shell Absorbs Charges, Pauses Project: Q2 Outlook Dims With Impairments and Biofuels Halt
Shell plc updated operational outlook for Q2 FY24, expecting production and LNG liquefaction volumes to be higher. Stock has gained 24% in last 12 months.
Boeing Set For Improved Deliveries And Production Rates, Goldman Sachs Analyst Says
Goldman Sachs analyst Noah Poponak cites data that Boeing will deliver 43 aircraft in June, showing improvement in total deliveries and production rates.
Schlumberger's OneSubsea Wins Green Production System Deal For TotalEnergies' Angola Project
SLB's OneSubsea JV won contract from TotalEnergies for Subsea Production System, boosting production sustainability in Angola. Production to start in 2028.
Three Mile Island Facility Rising From The Ashes? Constellation Energy In Talks for Restart: Report
Constellation Energy may restart part of its Three Mile Island nuclear facility with help from Pennsylvania officials, mirroring Michigan's $1.5 billion loan. Decision on restart depends on various factors. Demand for nuclear energy is increasing but concerns remain.
Equinor Extends 35-Year Partnership: Nippon Steel and Sumitomo to Supply OCTG for Up to 9 Years
Equinor renews contract with Nippon Steel and Sumitomo to supply OCTG for 9 years, recognizing stable supply and commitment to low carbon and safety.
Indonesia Powers Up: First EV Battery Plant Launched With Hyundai and LG Energy Solution
Hyundai Motor and LG Energy Solution have opened Indonesia's first EV battery plant with 10GWh capacity, planning to invest $9.8 billion.
Kosmos Energy Strikes Oil: Winterfell Development Begins Production in US Gulf of Mexico
Kosmos Energy Ltd. shares rise as oil production begins at Winterfell in U.S. Gulf of Mexico. The first phase of the development, with five wells in total, is expected to deliver around 100 million barrels of oil equivalent with upside from subsequent phases.
Desktop Metal Sold! Nano Dimension Swoops In All-Cash Offer
Nano Dimension acquires Desktop Metal for $183 million, offering a 27.3% premium. Combined company expects $246M revenue in 2023 and $665M cash position.
DOJ Asks More Questions About Schlumberger-ChampionX Merger: Details
SLB and CHX received second request from US Department of Justice for acquisition. Transaction expected to conclude late 2024 or early 2025.
Dispute Over $53B Chevron-Hess Merger Heats Up, Arbitration Panel Nears Formation: Report
Exxon and partners appoint arbitration panel for dispute with Chevron over Hess acquisition. Panel to be completed soon, proceedings to be scheduled.
Stellantis Strengthens Ties with Archer Aviation, Injects $55M Following Key Milestone
Stellantis invests $55 million in Archer, following recent flight test milestone. Stellantis has been a strategic partner to Archer since 2020 and an investor since 2021.
Bullish on Bitcoin Mining? Analyst Sees Big Potential in TeraWulf
Roth MKM analyst initiated coverage on TeraWulf Inc. with a Buy rating and $6.5 price target. TeraWulf is a promising investment in the digital infrastructure energy sector with potential for significant revenue and profit growth.
Radius Recycling Reeling, Stock Slides After Q3 Sales Miss: Details
Radius Recycling reports worse-than-expected Q3 sales, with revenue at $674 million. Operating cash outflow of $1 million.
Steering the Course: GE Aerospace Keeps CEO Culp At The Helm Through 2027
GE Aerospace extends CEO Larry Culp's tenure until 2027, following reports of him declining an offer from Boeing. GE stock up 85% in last 12 months.
Manufacturing Slump Hurts MSC Industrial: Q3 Disappoints On Weak Demand
MSC Industrial Direct reported lower Q3 FY24 sales and EPS, missing consensus. Average daily sales fell 7.1% due to sector weakness.
Ryanair Records Solid Traffic Numbers In June: Details
Ryanair Holdings reports record passenger numbers in June 2024. Also, the company's flights were, on average, 95% full (flat Y/Y) in June.
Blackstone Nears $2.2B Deal For Sale Of Japanese Supplement Maker Alinamin: Report
Blackstone Inc. is reportedly finalizing a deal to sell Alinamin Pharmaceutical to MBK Partners for $2.17 billion. Blackstone acquired Alinamin from Takeda in 2020.