Streetbeat News

Corporate Responsibility

MBGYY

VWAGY

Huawei is reportedly in talks with Audi and Mercedes-Benz about potential investments in its smart car business, according to sources cited by Reuters. The discussions are part of Huawei's efforts to diversify its business amid US sanctions that have impacted its core telecom equipment and smartphone operations. The move into the smart car industry represents a strategic pivot for Huawei, leveraging its technological capabilities in a new sector.

Portfolio Pulse from Charles Gross

December 11, 2023 | 10:51 am

FCN

FTI Consulting, Inc. (NYSE:FCN) has expanded its Corporate Finance & Restructuring segment in Tokyo with the appointment of Go Matsumoto as a Senior Managing Director and Eiji Michihiro as a Senior Advisor. This move signifies the company's commitment to strengthening its presence and services in Japan.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:06 am

AAPL

GOOG

GOOGL

Senator Elizabeth Warren criticized Apple Inc. for shutting down Beeper Mini, an iMessage for Android app, citing corporate greed and the need for secure cross-platform messaging. Apple defended its decision, stating it blocked techniques that exploit fake credentials to access iMessage, which could risk user security and privacy. The move impacts Android users and Alphabet Inc.'s Google, which has campaigned for Apple to support Rich Communication Services (RCS) to address messaging compatibility issues.

Portfolio Pulse from Rounak Jain

December 11, 2023 | 8:28 am

MZDAY

Mazda CEO Masahiro Moro anticipates electric vehicles (EVs) will constitute 25-40% of Mazda's global sales by 2030. Moro credits the company's growth to his prior role in North America, promoting larger vehicles. Mazda is preparing to launch its first dedicated EV platform, with close collaboration with Toyota on software and electrical infrastructures. The new EV platform is expected between 2025 and 2027, with plans to design and manufacture EVs in Japan and potentially North America. Despite challenges faced by other automakers like Tesla, General Motors, and Ford, Mazda's strategy could make it a significant player in the EV market.

Portfolio Pulse from Benzinga Neuro

December 11, 2023 | 2:45 am

TENB

Tenable's Vulnerability Management and Web App Scanning solutions have been assessed at a 'PROTECTED' level by Australia's IRAP, affirming their security controls and compliance with high cybersecurity standards. This endorsement may boost confidence among government agencies, especially those moving to cloud-based systems.

Portfolio Pulse from Charles Gross

December 10, 2023 | 9:15 pm

GOOGL

TSLA

Tesla, Inc. (TSLA) is facing a challenge with the departure of key executives, including AI Infra & AI Platform Engineering Manager Tim Zaman, who announced his move to Alphabet Inc.'s (GOOGL) (GOOG) DeepMind. Zaman's exit follows the departure of Ganesh Venkataramanan, head of the Dojo supercomputer project. AI is crucial for Tesla's autonomous driving technology, and these exits may impact the company's AI ambitions and its valuation, especially concerning robotaxi services.

Portfolio Pulse from Shanthi Rexaline

December 10, 2023 | 6:06 pm

AAPL

Apple Inc. is undergoing a leadership reshuffle with the departure of Tang Tan, the vice president of product design, who was instrumental in the design of the iPhone and Apple Watch. Tan's responsibilities are being redistributed within the hardware engineering team, with deputies like Richard Dinh and Kate Bergeron taking on expanded roles. Matthew Costello will take over Tan's duties related to accessories and the acoustics team. This change occurs as Apple continues to face a competitive tech landscape and prepares for future challenges. AAPL shares saw a slight increase on Friday and after hours.

Portfolio Pulse from Nabaparna Bhattacharya

December 09, 2023 | 8:38 pm

TSLA

Bernstein analyst Toni Sacconaghi has recommended shorting Tesla (TSLA), with a price target of $150, citing potential faltering EV demand and increased competition, particularly from Chinese rivals. Tesla CEO Elon Musk responded to a Tesla enthusiast's criticism of Sacconaghi's track record by suggesting the analyst's negative view could be a strong contra-indicator. Tesla's aggressive pricing strategy has led to a decline in auto gross margins, and the company has not provided guidance on near-term margin trajectory. The recent launch of the Cybertruck and the full-self driving software face challenges including regulatory scrutiny and market skepticism.

Portfolio Pulse from Shanthi Rexaline

December 09, 2023 | 7:43 pm

AMZN

DOYU

IDCBF

DouYu International Holdings Limited's CEO Chen Shaojie has been missing for three weeks amid China's anti-corruption crackdown, raising concerns about his whereabouts and the company's future. DouYu, known for its live-streaming services, has stated that business operations will continue as usual. The crackdown has affected various industries, with executives from finance and real estate, including the Industrial And Commercial Bank Of China Ltd. and Evergrande Group, also under investigation.

Portfolio Pulse from Nabaparna Bhattacharya

December 09, 2023 | 4:35 pm

FSR

KARS

LCID

NIO

RIVN

TSLA

Tesla faced a labor union strike in Sweden, lost a court case against Sweden's postal service, and was excluded from PensionDanmark's investment list due to labor issues. Tesla's China sales dropped year-over-year but increased month-over-month. Lucid Group was removed from the Nasdaq 100 Index and announced changes to its Lucid Air lineup. Nio is considering spinning off its battery unit. Rivian laid off members of its battery-cell development team. Fisker's Ocean SUV was spotted in India, and the company addressed investor concerns over its stock price. The KraneShares Electric Vehicles and Future Mobility Index ETF saw a slight increase on Friday but an overall weekly decline.

Portfolio Pulse from Shanthi Rexaline

December 09, 2023 | 1:58 pm