Streetbeat News

Corporate Responsibility

FICO

FICO, a global analytics software leader, has been granted 10 new patents related to digital decisioning, fraud detection, machine learning, and responsible AI. These patents enhance FICO's capabilities in AI and decision management, contributing to its portfolio of 223 active patents and 73 pending applications. The innovations are expected to benefit enterprises using FICO's software solutions for digital transformation initiatives.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 1:01 pm

MSFT

Bill Gates, co-founder of Microsoft Corp. (NASDAQ:MSFT), expressed optimism about AI's role in healthcare breakthroughs. He highlighted five areas where AI could have a significant impact: combating antibiotic resistance, personalized tutoring, treating high-risk pregnancies, assessing HIV risk, and improving access to medical information. Despite global challenges, Gates believes AI will accelerate research and innovation, particularly in healthcare.

Portfolio Pulse from Rounak Jain

December 20, 2023 | 12:57 pm

EOSE

Eos Energy Enterprises (EOSE) has partnered with Partner4Work to create a $500K training program aimed at upskilling the current and future workforce for Eos' manufacturing facility in the Mon Valley. This initiative is expected to enhance the skill set of employees, aligning with the company's growth and operational efficiency goals.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 12:44 pm

GPRK

GeoPark, an oil and gas exploration company, has announced the appointment of Jaime Caballero Uribe as its new Chief Financial Officer, effective January 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 12:37 pm

BABA

PDD

Alibaba Group Holding Ltd (NYSE:BABA) is restructuring, with Eddie Wu replacing Trudy Dai to head Tmall and Taobao. Dai will manage a new entity for Alibaba's global investment assets. Amidst challenges from regulatory scrutiny and rising competition from PDD Holdings Inc (NASDAQ:PDD) and ByteDance Ltd, Alibaba is refocusing on core businesses and considering divestitures. Analysts have rerated BABA due to slow turnaround and cloud business spinoff withdrawal. Alibaba reversed a prior decision to split into six divisions and is now led by Wu, with Joseph Tsai overseeing potential asset divestitures. Additionally, BWB Inc has filed patent infringement lawsuits against Alibaba in multiple countries. Alibaba's stock has declined by over 18% YTD, while PDD's stock has risen by 78%. BABA's premarket trading shows a slight increase of 0.27% to $75.60.

Portfolio Pulse from Anusuya Lahiri

December 20, 2023 | 12:36 pm

SBUX

Starbucks Corporation's CEO, Laxman Narasimhan, addressed vandalism at stores following pro-Palestinian comments by Starbucks Workers United amid the Israel-Hamas conflict. The company is trying to halt boycott calls and has distanced itself from the union's remarks. Starbucks filed a lawsuit against the union for trademark infringement in October, emphasizing its stance against hate and violence. SBUX shares dipped slightly in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

December 20, 2023 | 11:27 am

MTAL

Metals Acquisition Corp. has announced the appointment of Morné Engelbrecht as its new Chief Financial Officer. Engelbrecht brings a wealth of experience in the mining industry, which is expected to benefit the company's financial management and strategic planning.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 11:01 am

STLA

Stellantis NV (NYSE:STLA) announced the end of production for the Chrysler 300, a luxury car model with a history dating back to 1955. The final 2023 Chrysler 300C model, limited to 2000 units in the U.S. and 200 in Canada, rolled off the production line on December 8. Chrysler is now focusing on an all-electric portfolio by 2028, aligning with Stellantis' Dare Forward 2030 strategic plan. Production of the Chrysler 300 will conclude by December 31, 2023.

Portfolio Pulse from Anan Ashraf

December 20, 2023 | 10:58 am

TSLA

Tesla Inc. (NASDAQ:TSLA) has reportedly stopped issuing merit-based equity awards to its salaried employees for this year. The company has provided cost-of-living increases and base salary adjustments but excluded the typical stock grants given during annual reviews. The reason for this change has not been disclosed, but it occurs amidst Tesla's cost reduction efforts and global economic concerns expressed by CEO Elon Musk. This decision follows a recent pay raise for hourly workers at the Nevada Gigafactory and reports of challenging working conditions at Tesla.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 10:41 am

NAAS

NaaS Technology (NASDAQ:NAAS) and its subsidiary Sinopower HK have formed strategic partnerships with SHNE to jointly develop the new energy market. The collaboration will focus on photovoltaic project development, charging station construction and operation, and smart microgrid systems to promote low-carbon and green development.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 10:37 am