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Corporate Responsibility

MGM

MGM Resorts International has collaborated with KultureCity to introduce sensory pods at T-Mobile Arena, enhancing inclusivity for individuals with autism. These pods offer a calm space equipped with various sensory-friendly features and were donated by the John C. Kish Foundation.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 6:46 am

TSLA

Tesla Inc (NASDAQ:TSLA) has received land-use permits for a new gigafactory in Nuevo Leon, Mexico. The state government announced the decision, with the plant covering 261 hectares. The project is estimated to cost over $5 billion, with the local government committing over $130 million to infrastructure support. The factory is expected to generate $15 billion over two years through Tesla and its suppliers. Tesla's expansion into Mexico is part of its global growth strategy and aligns with the nearshoring trend. Despite economic uncertainty, Tesla's market share remains strong, especially in China, where it saw a 4.8% year-over-year increase in new energy vehicle sales in November.

Portfolio Pulse from Benzinga Neuro

December 13, 2023 | 5:34 am

AAPL

DIS

Elon Musk's social media platform, X (formerly Twitter), is experiencing a significant drop in ad revenue for 2023, with projections of $2.5 billion compared to $1 billion per quarter in 2022. The decline is attributed to advertisers' concerns over content moderation and Musk's endorsement of extremist views. Major advertisers like Apple Inc. (AAPL) and Walt Disney Co. (DIS) have paused their ad spending on the platform. X's valuation has also reportedly dropped below 50% of Musk's purchase price.

Portfolio Pulse from Ananya Gairola

December 13, 2023 | 3:24 am

TSLA

Tesla Inc (NASDAQ:TSLA) addressed safety concerns regarding its Cybertruck, emphasizing the vehicle's design features that enhance safety despite its limited 'crumple zones'. The company explained that the Cybertruck's front underbody casting is engineered to break into pieces during high-speed collisions to reduce impact on passengers. Elon Musk has assured that the Cybertruck is safe for both occupants and pedestrians.

Portfolio Pulse from Anan Ashraf

December 13, 2023 | 3:15 am

AAPL

GOOG

GOOGL

SPOT

A federal jury ruled in favor of Epic Games in an antitrust lawsuit against Alphabet Inc.'s Google, finding that Google illegally monopolized Android app distribution and its Play billing system. Epic Games CEO Tim Sweeney confirmed his suspicions about Google's practices were true, citing 'Project Hug' as an example of Google's efforts to maintain control. Sweeney also criticized Google for giving preferential treatment to Spotify, allowing it to keep all revenue from payments processed. The verdict may lead to increased antitrust scrutiny of other tech giants, including Apple.

Portfolio Pulse from Ananya Gairola

December 13, 2023 | 2:12 am

FEAM

5E Advanced Materials, Inc. (FEAM) has announced a stockholder call on December 19, 2023, to discuss company developments, including a potential pre-packaged Chapter 11 bankruptcy if out-of-court restructuring conditions are not met. The call will feature CEO Susan Brennan and CFO Paul Wiebel, and will cover the restructuring support agreement and financing package. The company aims to avoid bankruptcy to preserve capital and minimize disruptions.

Portfolio Pulse from Charles Gross

December 12, 2023 | 10:09 pm

WLDN

Willdan Group, Inc. announced that CEO Tom Brisbin will retire on December 29, 2023, but will continue as Chairman. Mike Bieber will take over as CEO and join the Board on December 30, 2023. Additionally, CFO Kim Early and General Counsel Micah Chen will be promoted to Executive Vice Presidents on the same date.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:43 pm

HTLF

Heartland Financial USA, Inc. (HTLF) has announced the retirement of its CFO Bryan McKeag, effective December 31. Kevin L. Thompson will take over as CFO starting January 1.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:36 pm

NUZE

NuZee, Inc. has appointed Randell Weaver as its President and Chief Operating Officer (COO), effective immediately. Weaver, who joined NuZee in August 2023 as Chief Financial Officer (CFO), will retain his CFO role while taking on the new responsibilities for all U.S. operations.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:31 pm

OPAD

Offerpad Solutions Inc's CFO, Jawad Ahsan, has mutually agreed to separate from the company effective immediately. The board has appointed James Grout as the interim Principal Financial Officer, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:30 pm