Streetbeat News

Corporate Responsibility

OPTT

PGNT

Paragon Technologies, Inc., holding 4.9% of Ocean Power Technologies, Inc. shares, criticizes OPT for financial mismanagement and attempts to divert attention from its poor financial performance. Paragon highlights OPT's increased losses, declining share price, and executive compensation exceeding revenues. Paragon, seeking board representation, accuses OPT of misleading shareholders with non-guaranteed contract announcements and urges voting for their proxy card to address mismanagement.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:51 pm

ACN

Accenture (NYSE:ACN) and Google Cloud have announced the launch of a joint generative AI Center of Excellence (CoE) to help businesses harness the power of generative AI. The CoE will provide industry expertise, technical knowledge, and resources to build and scale applications using Google Cloud's generative AI portfolio. The initiative includes deployment of Gemini, Google's latest AI model, and aims to improve operations, create new business lines, and enhance customer experiences. The CoE will offer specialized services, access to large language models, rapid prototyping services, and AI-optimized infrastructure to accelerate the adoption and deployment of generative AI applications.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:28 pm

AAPL

SPOT

VGK

The European Union is poised to issue an antitrust order against Apple Inc., following a complaint by Spotify Technology SA. The order could potentially force Apple to change its business practices, which Spotify claims give Apple's music service an unfair advantage. This development is part of a broader regulatory scrutiny on big tech companies' operations in Europe.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:23 pm

FOX

FOX News Media (FNM) has announced the promotion of three senior executives to enhance its digital leadership team. Jason Klarman is now Chief Digital and Marketing Officer, Porter Berry is President of FOX News Digital and Editor-In-Chief, and Lauren Petterson is President of FOX Nation and Talent Development. Petterson will also step down as President of FOX Business Network (FBN), with Jay Wallace taking over. Megan Albano and Gavin Hadden have also been promoted within the organization. These changes aim to further grow and expand FOX News Media's successful digital platforms.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:05 pm

DANOY

DEO

HSY

LRLCY

Kahlil Lozoraitis, CEO of Weekenders Cannabis, applies a brand-centric leadership philosophy honed from his experience at major companies like Diageo PLC, L’Oréal SA, Danone SA, The Hershey Co, and Unilever PLC. Weekenders Cannabis, known for its sun-grown flower pre-rolls, operates in California and New York. Lozoraitis emphasizes the importance of persistence, managing uncertainty, and diversity in leadership. He advocates for more investment in minority entrepreneurs in the cannabis industry, noting that diverse teams yield superior results. Weekenders' collaboration with Gorilla RX on a community initiative in LA highlights his commitment to partnerships and sustainability.

Portfolio Pulse from Joana Scopel

December 13, 2023 | 3:58 pm

XOM

Exxon Mobil Corp. has revised its compensation policy to include cash bonuses for traders who take risks to increase company profits. This change is part of Exxon's plan to expand its trading operations. The new bonus structure, which was shared internally, will start paying out in December 2024. System traders involved in buying and selling physical commodities for the company's operations will not receive these bonuses.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:43 pm

CMG

Chipotle Mexican Grill Inc (NYSE:CMG) is investing in Greenfield Robotics and Nitricity through its $50 million Cultivate Next venture fund. Greenfield Robotics uses AI and robotics for sustainable farming, while Nitricity produces eco-friendly nitrogen fertilizer. The investments aim to enhance efficiency and reduce greenhouse gas emissions in Chipotle's supply chain.

Portfolio Pulse from Shivani Kumaresan

December 13, 2023 | 3:41 pm

TWLO

Twilio Inc. has engaged Qatalyst Partners to advise on defense strategies against activist investors Legion Partners and Anson Funds, who are pushing for the sale of the company or its data and applications business unit, which includes Segment. Despite a 45% gain this year, Twilio's stock is still 84% below its peak from early 2021, and revenue growth has slowed significantly. The company recently announced layoffs, including a 5% reduction in its data and applications unit. Qatalyst, known for M&A advisory, is not indicating a sale of Twilio at this time.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:19 pm

GOOGL

Google has introduced Gemini Pro, an enhanced generative AI feature for cloud customers, targeting businesses and app developers. It is now integrated into Google AI Studio and Vertex AI Developer tools. This move is part of Google's efforts to compete with Microsoft and OpenAI in the cloud AI space.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:04 pm

BRPHF

BTCUSD

ETHUSD

Mike Novogratz, CEO of Galaxy Digital, has revised his opinion on Ripple, acknowledging its growth and the dedication of the 'XRP army.' He remains skeptical about Bitcoin's use as a common currency for everyday transactions, citing its lack of widespread adoption for purchases. Novogratz also commented on U.S. fiscal policies and their potential long-term consequences. He expressed doubts about the success of an Ethereum ETF, suggesting that its performance may depend on the inclusion of staking rewards.

Portfolio Pulse from Murtuza Merchant

December 13, 2023 | 2:27 pm