Streetbeat News

Corporate Responsibility

DCGO

DocGo's CEO has defended the company's performance on a contract for migrant care in New York City, asserting that the NYC pact aligns with their broader mission to enhance the accessibility of at-home healthcare services.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 5:34 pm

MCD

QSR

WEN

YUM

McDonald's President Chris Kempczinski shared a LinkedIn report discussing the company's innovation and growth strategy, 'Accelerating the Arches', which led to achievements in 2023 such as 150 million active loyalty users and expansion of products like McCrispy and Best Burger. Despite challenges from the war in the Middle East and associated misinformation, McDonald's remains committed to local communities and plans to continue innovating and expanding in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 5:24 pm

ACET

Adicet Bio's stock price is on the rise following the company's announcement of its 2024 goals, which include advancing allogeneic T cell therapy candidates for oncology and autoimmune diseases.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:55 pm

AAPL

FXI

Apple's suppliers, including Foxconn, have invested $16 billion since 2018 to diversify manufacturing away from China due to US/China trade tensions, COVID measures, and power supply issues. TD Cowen's research indicates Apple's revenues were impacted by over $30 billion during the pandemic. Reshoring efforts are aimed at reducing future production disruptions, with investments in India, Mexico, the US, and Vietnam. Apple's operating margins may benefit long-term, despite higher near-term costs. iPhone production remains largely in China, but India is emerging as a significant manufacturing hub. Vietnam is becoming a major hub for Mac and iPad production, potentially meeting 40% of US demand. The reshoring process is expected to take years, with challenges in establishing new plants and organizing supply chains.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:19 pm

HIVE

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) reported an increase in its Bitcoin (BTC) holdings and provided a production and corporate update for December 2023. The company produced 282.8 BTC, averaging 9.1 BTC per day, and ended the month with a mining capacity of 4.08 EH/s. HIVE's HODL position grew to 1,707 BTC. Additionally, HIVE announced the appointment of Luke Rossy as COO and Mario Sergi as CIO. The New Brunswick facility is expected to resume operations in January 2024 with a capacity of 2 EH/s. Bitcoin network difficulty increased by 6% in December, impacting gross profit margins for miners.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:12 pm

MCHP

Microchip Technology Incorporated (NASDAQ:MCHP) is set to receive $162 million in incentives from the U.S. Commerce Department to support the onshoring of its semiconductor supply chain. This investment aims to rebuild America's semiconductor supply chain, enhance security for the defense industrial base, reduce prices, and create over 700 jobs in Colorado and Oregon. The funding will be used to modernize and expand fabrication facilities in these states, nearly tripling the output of semiconductors and reducing reliance on foreign foundries.

Portfolio Pulse from Nabaparna Bhattacharya

January 04, 2024 | 4:09 pm

AMZN

PYPL

PayPal Holdings, Inc. (NASDAQ:PYPL) stock is trending due to a 7% decline over the past five days. Amazon.com Inc. (NASDAQ:AMZN) announced it will stop accepting Venmo, owned by PayPal, starting Jan. 10. PayPal also appointed Suzan Kereere as president of global markets. Analyst Dominick Gabriele downgraded PayPal from Outperform to Perform, with mixed ratings from other analysts. PayPal's stock has dropped over 22% in 2023 and is trading above its 50-day moving average but below its 52-week high.

Portfolio Pulse from Erica Kollmann

January 04, 2024 | 3:52 pm

HMC

SPY

STLA

TSLA

A group of 33 U.S. Senators has sent a letter to Tesla CEO Elon Musk and the heads of 12 other automakers, urging them to commit to neutrality in unionization efforts at their U.S. plants. The letter, which was seen by Reuters, is part of a push to support workers' rights to unionize, a hot-button issue in the automotive industry.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:43 pm

CXM

Sprinklr's stock is trading higher following the announcement of a $100 million stock buyback program and the reaffirmation of its Q4 and FY24 guidance. Additionally, Trac Pham has been appointed as the interim COO.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:36 pm

SEM

Select Medical Holdings Corporation's stock is trading higher following the announcement of a potential separation of its subsidiary, Concentra.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:15 pm