Streetbeat News

Corporate Responsibility

TSLA

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk acknowledged the need to improve after Tesla owners expressed dissatisfaction with the upcoming holiday software update. Owners are requesting features like boombox use while driving, customizable reverse sounds, and fixes for autowipers. The holiday update is expected to include a trip planner on mobile app, Apple podcasts, and automatic 911 calls, but has been criticized for lacking significant improvements compared to past updates.

Portfolio Pulse from Anan Ashraf

December 08, 2023 | 4:09 am

MSFT

OpenAI CEO Sam Altman expressed his dislike for the name 'ChatGPT' on Trevor Noah's podcast, suggesting it's too ubiquitous to change despite being a 'horrible name'. Altman was recently reinstated as CEO after a brief firing, with Microsoft securing a non-voting observer role on OpenAI's board. OpenAI's ChatGPT has seen significant user engagement, and Altman's return has been positively reflected on the company's ability to function without him. Meanwhile, Elon Musk's AI company xAI launched its first model 'Grok', aiming to compete with ChatGPT.

Portfolio Pulse from Ananya Gairola

December 08, 2023 | 3:39 am

IBM

IBM CEO Arvind Krishna discussed the challenges of AI regulation, including President Biden's executive order. While acknowledging the imperfection of any regulatory framework, Krishna supports the mandate for AI firms to disclose safety testing to the U.S. government. He emphasized the need for corporate accountability for AI models, suggesting legal liability, but expressed concern over the disclosure of proprietary information. Krishna also advocated for a risk-based regulatory approach to foster open innovation. Amidst regulatory discussions, IBM has rebranded its Watson AI line to better compete in the business AI market.

Portfolio Pulse from Ananya Gairola

December 08, 2023 | 1:36 am

CHRS

Coherus BioSciences CFO McDavid Stilwell has resigned to pursue other opportunities. The company plans to appoint an interim Principal Financial Officer by late December 2023 or early January 2024 and is searching for a new CFO.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 10:57 pm

TBCPU

Thunder Bridge Capital Partners III (TBCPU) has announced its intention to liquidate as it cannot complete a business combination by the deadline of February 10, 2024. The board of directors has made this decision after evaluating the company's inability to achieve a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar transaction.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 10:18 pm

GSL

Global Ship Lease, Inc. (NYSE:GSL) announced a CEO transition with Ian Webber retiring and Thomas Lister succeeding as CEO effective March 31, 2024. Webber, who has been CEO since GSL's inception in 2007, will join the Board of Directors. Lister, with the company since 2007 and currently Chief Commercial Officer, has been instrumental in GSL's public listing, merger with Poseidon Containers, and decarbonization efforts. Executive Chairman George Youroukos praised Webber's leadership and expressed confidence in Lister's qualifications for guiding GSL through industry changes.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:50 pm

AVTR

Avantor announced a restructuring of its business segments from three geographic segments to two complementary business segments. This strategic move is aimed at streamlining operations and improving customer alignment. The company has not provided specific details on the financial impact of this change or how it will affect its reporting structure.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:48 pm

AVTR

Avantor has reaffirmed its fiscal year 2023 guidance and announced a cost optimization initiative aimed at achieving $300 million in run rate savings by the end of 2026. The initiative is expected to streamline operations and improve efficiency across the company.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:47 pm

FNWD

Finward Bancorp announced that CFO and Treasurer Peymon S. Torabi intends to resign. Robert T. Lowry will take over as Interim CFO and Treasurer starting January 1, 2024.

Portfolio Pulse from Charles Gross

December 07, 2023 | 9:40 pm

API

Stanley Wei is stepping down from his positions as Chief Strategy Officer and Chief Operating Officer at Agora, Inc. (API). The departure of a high-level executive could lead to short-term uncertainty regarding the company's strategic direction and operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:38 pm