Streetbeat News

Corporate Responsibility

FSR

Fisker's Chairman and CEO Henrik Fisker has stated that negative reports about the company are 'overblown' and expressed confidence in the company's daily progress and long-term opportunities.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:25 pm

LIAN

LianBio's Board of Directors has unanimously decided not to pursue an unsolicited acquisition proposal from Concentra Biosciences. The offer was to acquire all LianBio equity for $4.30 per share in cash, plus a contingent value right. The Board believes the proposal undervalues the company and is not in the best interests of LianBio or its shareholders.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:17 pm

CHWY

Chewy, Inc. has announced the appointment of David Reeder as its new Chief Financial Officer (CFO) and Principal Financial Officer. Stacy Bowman will remain as the company's Chief Accounting Officer and principal accounting officer.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:12 pm

MCD

During McDonald's Investor Day, the CEO expressed hesitance to make predictions for the next year, citing the resilience of the consumer as a continuing trend.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 8:28 pm

MSFT

TIME Magazine named Taylor Swift as its 2023 Person of the Year, with OpenAI founder Sam Altman named CEO of the Year. Despite OpenAI's impact on the tech industry and Microsoft's stock rise, Swift's cultural and economic influence was deemed greater. The decision reflects TIME's criteria for impact rather than morality, as evidenced by the inclusion of controversial figures in the shortlist.

Portfolio Pulse from Aaron Bry

December 06, 2023 | 8:06 pm

TSVT

2seventy bio, Inc. (NASDAQ:TSVT) has issued a statement reaffirming its commitment to maximizing shareholder value. The company's Board has started a process to evaluate all options to enhance value, focusing on making their therapies available to patients, driving shareholder value, and supporting their employees.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:01 pm

JPM

JPMorgan Chase & Co. CEO Jamie Dimon testified before a U.S. Senate Committee, criticizing Bitcoin and cryptocurrencies, suggesting the government should shut them down due to their use in illegal activities. Social media users mocked Dimon, accusing him of being out of touch and highlighting the use of fiat in criminal activities. Some users expressed intentions to close their Chase accounts or defended cryptocurrencies as a symbol of freedom.

Portfolio Pulse from Murtuza Merchant

December 06, 2023 | 6:37 pm

BMWYY

F

HMC

STLA

VWAGY

Stellantis, the parent company of Chrysler, is seeking to void a deal made by California with four rival automakers regarding vehicle emissions standards. The deal, which was made separately from federal standards, involves Ford, Honda, Volkswagen, and BMW. Stellantis argues that the agreement gives an unfair advantage to these competitors and has filed a petition with a U.S. appeals court to invalidate the agreement. The outcome of this legal challenge could have significant implications for the auto industry's regulatory environment and competitive landscape.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:27 pm

WMT

Walmart CEO Doug McMillon stated that hiring and wage pressures have eased, with a more normalized environment and lower turnover. Wages continue to rise but at a slower rate. AI is shifting employee roles, reducing the need for physically intensive tasks. Walmart, the nation's largest private employer, raised its minimum wage to $14, while competitors had already moved to $15. The labor market cooling is supported by government data showing a drop in job openings. McMillon expects a shift in workforce roles due to increased automation and AI, with the same number of employees but in different positions.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 5:57 pm

TSLA

Elon Musk praised Tesla's AI as the best in real-world applications, but former employee Lukasz Krupski challenged the safety of Tesla's Autopilot feature, citing public road safety concerns. Krupski leaked confidential Tesla data revealing customer complaints about the Autopilot system, including sudden accelerations and phantom braking. Tesla's legal team dismissed Krupski as a disgruntled ex-employee who misused his position. The leaked data included reports of accidents while Autopilot was engaged.

Portfolio Pulse from Bibhu Pattnaik

December 06, 2023 | 5:17 pm