Streetbeat News

Corporate Responsibility

IPHA

Innate Pharma has announced that CEO Mondher Mahjoubi will depart in January 2024 to join a large pharmaceutical company. Co-founder Hervé Brailly will serve as interim CEO, while Irina Staatz-Granzer will become Chairwoman of the Supervisory Board.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 7:10 am

MBGAF

TSLA

A Mercedes-Benz dealership in Texas distributed printed copies of a CNN article about a Tesla Autopilot recall to its customers. The recall, announced by the NHTSA, led to Tesla issuing a software update to address the issues. Mercedes-Benz's action highlights the competition with Tesla and its active pursuit of EV market share. Tesla's OTA update solution for the recall has been criticized by some as misleading. Despite this, Tesla remains a strong investment in the EV industry, according to Gary Black of Future Fund.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 6:25 am

GOOG

GOOGL

Epic Games won an antitrust lawsuit against Alphabet Inc.'s Google, challenging the 30% commission fee on digital purchases in the Android app market. Despite the victory, Epic's CEO Tim Sweeney fears Google may continue imposing high fees, offering 'fake' competition solutions. Sweeney advocates for lower app store fees, citing lower operating costs seen at Epic's own store. The ruling is a significant antitrust decision against a tech giant since the 1990s.

Portfolio Pulse from Ananya Gairola

December 18, 2023 | 6:06 am

AMZN

Ivanka Trump praised Jeff Bezos' 'Day One' philosophy on X, drawing parallels with Alan Watts' teachings. Bezos discussed various topics on a podcast with Lex Fridman, including his leadership style, Amazon's journey, and his aerospace company Blue Origin. The podcast has over 1.5 million views on YouTube.

Portfolio Pulse from Ananya Gairola

December 18, 2023 | 1:56 am

BABA

Tang Xiao’ou, the billionaire founder of China's AI giant SenseTime, has passed away due to undisclosed health issues. SenseTime, known for its facial recognition technology, has faced accusations from US-based short-seller Grizzly Research of inflating revenue, which the company denied. Despite this, SenseTime's stock fell nearly 10%, with cumulative losses of over 40% this year and over 80% since its IPO. The company's future is uncertain, especially after Alibaba Group Holding Ltd (NYSE:BABA) exited SenseTime in July 2023.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 1:40 am

AAPL

GOOG

Apple Inc. (AAPL) had a notable week with several developments. The company settled a class-action lawsuit related to Family Sharing for $25 million and delayed two iOS 17 features to 2024. Apple introduced a new anti-theft feature, 'Stolen Device Protection,' for iPhones and tightened user data privacy, requiring a court order for push notification data. Additionally, Apple launched a standalone USB-C charging case for the second-generation AirPods Pro. Alphabet Inc. (GOOG, GOOGL) was also mentioned in the context of providing notification data to governments.

Portfolio Pulse from Benzinga Neuro

December 17, 2023 | 2:00 pm

DUK

The North Carolina Utilities Commission (NCUC) has issued an order on Duke Energy Carolinas' Performance-Based Regulation application, which Duke Energy views as constructive. The order approves capital investments for system reliability and a cleaner energy future, implements Performance-Based Regulations, approves settlements from the proceeding, and introduces Performance Incentive Mechanisms and innovative rate designs. Duke Energy will assess the impact on customer rates in the coming weeks.

Portfolio Pulse from Benzinga Newsdesk

December 16, 2023 | 11:47 pm

VTRS

Viatris Inc. (NASDAQ:VTRS) has announced the appointment of Theodora 'Doretta' Mistras as CFO effective March 1, 2024, and Philippe Martin as Chief R&D Officer effective immediately. Mistras brings extensive experience from Citigroup and Goldman Sachs, while Martin has a strong background from Celgene and Schering-Plough. Current CFO Sanjeev Narula will assist in the transition until his departure. The appointments are part of Viatris' strategic plan as it enters Phase 2, aiming for expanded growth and enhanced shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 16, 2023 | 11:31 pm

GOLD

Barrick Gold Corporation (NYSE:GOLD) has restarted operations at the Porgera mine in Papua New Guinea, sharing 49% of the project with Zijin Mining Group. The mine, under care since 2020 due to a dispute, is expected to produce 21 tonnes of gold annually over 20 years. Barrick's stock underperformed gold prices, with only 2.2% gains compared to gold's 11% rise. The company also faces challenges in Tanzania with allegations of forced evictions at the North Mara mine, which Barrick denies.

Portfolio Pulse from Stjepan Kalinic

December 16, 2023 | 4:23 pm

AAPL

Apple Inc. has agreed to a $25 million settlement in a class action lawsuit regarding its Family Sharing feature. The lawsuit, filed in 2019, claimed Apple misrepresented how app subscriptions worked with Family Sharing. Users who purchased an app subscription between June 21, 2015, and January 30, 2019, and shared it with at least one family member are eligible to claim up to $50. The deadline to file a claim is March 1, 2024, with $15 million allocated for users after attorney fees.

Portfolio Pulse from Rounak Jain

December 16, 2023 | 8:51 am