Streetbeat News

Corporate Responsibility

JPM

JPMorgan CFO Jeremy Barnum commented on the current state of the Corporate and Investment Banking pipeline, describing it as robust but also acknowledging the presence of uncertainty, particularly as a headwind in the M&A sector. Additionally, he noted that the attrition rate within the company has decreased compared to previous periods.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 1:21 pm

AAPL

ARKW

EBAY

FLXS

GOOGL

HOOD

STLA

TSLA

Shiba Inu (SHIB) sees a 400% increase in token burns and $1.38M in whale acquisitions. Cathie Wood of Ark Invest predicts Bitcoin could reach $1.5M by 2030. Robinhood lists all Bitcoin Spot ETFs, while Elizabeth Warren criticizes SEC's approval of them. Flexsteel Industries reports strong preliminary results. Trump's town hall garners 4.4M views, and US sanctions Russian entities over missile purchases. Apple and Google make tech headlines with new initiatives and layoffs, respectively. Tesla faces a share price drop and announces a price cut in China. Stellantis invests in battery tech, and eBay settles a harassment case.

Portfolio Pulse from Akanksha Bakshi

January 12, 2024 | 1:04 pm

GIL

Gildan Activewear has announced that Vince Tyra will take over as President and Chief Executive Officer starting January 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 1:04 pm

CRI

Carter's, Inc. has announced the retirement of President & COO Brian J. Lynch. CFO Richard F. Westenberger will take on the additional responsibilities of COO. The transition of roles may lead to internal restructuring and could impact the company's operational efficiency in the short term.

Portfolio Pulse from Charles Gross

January 12, 2024 | 12:41 pm

AMZN

SPY

WMT

Audible, an Amazon division, is reducing its workforce by 5% as part of Amazon's broader downsizing effort, which has affected over 27,000 positions. The layoffs are aimed at streamlining operations and maintaining leadership in audio storytelling. Despite the cuts, Audible's CEO remains optimistic about its future growth. Amazon's job cuts also extend to Prime Video, MGM Studios, and Twitch, with Twitch planning to reduce its workforce by 35%. Amazon's stock gained 63% last year, outperforming the SPDR S&P 500 ETF, which gained 20%.

Portfolio Pulse from Anusuya Lahiri

January 12, 2024 | 12:26 pm

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla Inc (NASDAQ:TSLA) investor, criticized the potential integration of Elon Musk's Grok AI into Tesla vehicles. He believes it's a conflict of interest for Tesla shareholders if they don't own the AI OS on Tesla cars, suggesting instead that Tesla should develop its own Large Language Model (LLM) using its resources and AI team. Musk has previously hinted at a partnership between Tesla and his AI startup, xAI, to integrate Grok AI into Tesla cars.

Portfolio Pulse from Anan Ashraf

January 12, 2024 | 12:23 pm

RNW

ReNew Energy Global PLC has successfully refinanced $325 million of debt three months before its maturity. The company anticipates that this refinancing will lead to a reduction in interest costs by over 200 basis points for this particular pool of debt.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 12:02 pm

BAC

Bank of America reported the addition of 4.6 million new credit card accounts in the fourth quarter, indicating potential growth in its consumer banking segment.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 11:47 am

COIN

HUT

Hut 8 Mining Corp. has announced an amended and restated credit facility with Coinbase for $65 million. The new loan is expected to be utilized for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 11:33 am

IFF

International Flavors & Fragrances Inc (NYSE:IFF) shares rose after announcing a new CEO, J. Erik Fyrwald, and reaffirming FY23 guidance. Fyrwald, former CEO of Syngenta, will succeed Frank Clyburn on February 6, 2024. The company expects FY23 sales of $11.3-$11.6 billion and adjusted operating EBITDA at the mid to high end of $1.85-$2.0 billion. IFF sold its Cosmetic Ingredients business for $810 million, expected to close in Q1 2024, and is progressing with further divestitures. IFF also continues its cooperation with Icahn Capital, planning to renominate directors for the 2024 proxy season.

Portfolio Pulse from Lekha Gupta

January 12, 2024 | 10:41 am