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Corporate Responsibility

BRK

BYDDF

TSLA

VWAGY

Chinese EV manufacturer BYD Co. (OTC:BYDDF) faces a $12 billion selloff due to concerns over its sales targets and smart-car capabilities. The company's shares dropped 12% in November, with doubts cast by competition from Huawei and a volatile market. Despite record sales, BYD's growth is questioned, and Warren Buffett's Berkshire Hathaway (NYSE:BRK) has reduced its stake. The EU's probe into Chinese EV subsidies and a surge in short interest in BYD shares add to the challenges. BYD's market cap gap with Tesla (NASDAQ:TSLA) despite similar revenues and sales also raises analyst concerns.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 4:47 am

AAPL

Apple Inc. (NASDAQ:AAPL) has opened its secretive chip-testing lab to reporters for the first time, showcasing the facility where chips for new Apple products are tested. The lab uses a color-coded system for categorizing chip tests. Apple's move to manufacture its own chips, including the A series for various devices and the M series for Macbooks, represents a shift from its previous reliance on Intel. The company is also developing smaller chips for accessories and the R1 chip for the upcoming Apple Vision Pro VR headset.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 3:27 am

DIS

Elon Musk criticized The Walt Disney Company (NYSE:DIS) for boycotting his social media platform, X (formerly Twitter), suggesting that such a move will lead to a 'meaningful decline in distribution' for Disney. Musk's comments follow the withdrawal of advertisements from X by several companies, including Disney, due to his endorsement of an antisemitic theory. Disney's CEO Bob Iger defended the decision, citing the negative association with Musk's public stance.

Portfolio Pulse from Ananya Gairola

December 05, 2023 | 3:04 am

META

Meta Platforms Inc. (NASDAQ:META) is being sued for EUR 550 million (approximately $600 million) by a Spanish media association representing 83 outlets, including Prisa and Vocento. The lawsuit alleges that Meta engaged in unfair competition by using personal data from Facebook, Instagram, and WhatsApp users without explicit consent for ad placements, violating EU data protection rules from 2018 to 2023. This legal action reflects ongoing efforts by traditional media to challenge tech giants over data privacy and fair competition in advertising.

Portfolio Pulse from Ananya Gairola

December 05, 2023 | 1:27 am

WBD

Former Congressman George Santos, ousted from the House of Representatives amid allegations and federal charges, has joined Cameo, offering video messages for $200 each. Warner Bros. Discovery's HBO Films unit has optioned the rights to a book about Santos for a movie. The book, 'The Fabulist,' details Santos' controversial career and was released on Nov. 28, 2023. Frank Rich is set to work on the movie, which will take a 'darkly comic look' at Santos' story.

Portfolio Pulse from Chris Katje

December 04, 2023 | 11:38 pm

FFNTF

ITHUF

JSDA

XBRAF

XXII

The cannabis industry sees a wave of executive appointments and board updates. Aaron Lopez is now the head of the National Hispanic Cannabis Council. The Blinc Group, 22nd Century Group, and Healing Commercial Real Estate Inc. have appointed new CEOs. 22nd Century Group (XXII) also sold its hemp/cannabis operations to Specialty Acquisition Corporation. Xebra Brands Ltd. (XBRAF) and iAnthus Capital Holdings, Inc. (ITHUF) elected new board directors. 4Front Ventures Corp. (FFNTF), Wana Brands, Jones Soda Co. (JSDA), FundCanna, FloraWorks Holdings Inc., and Ziel announced other key appointments.

Portfolio Pulse from Jelena Martinovic

December 04, 2023 | 10:46 pm

XMTR

Xometry has appointed Fabio Rosati as the new Chair of its Board, following the retirement and departure of the current Chair, George Hornig. Rosati's experience and leadership are expected to guide Xometry in its future endeavors.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:56 pm

ATHE

Alterity Therapeutics will host a webcast to discuss the efficacy data of ATH434 in primates and recent clinical progress. The webcast, led by CEO Dr. David Stamler, is scheduled for 6 December 2023 in Australia and 5 December 2023 in the US. Investors need to register to attend and can submit questions in advance.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:35 pm

TSP

TuSimple's Board has authorized an additional restructuring plan, which includes a significant reduction in its US workforce. Approximately 150 employees, constituting 75% of the US workforce and 19% of the global workforce, will be affected according to a recent filing.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:27 pm

MMSI

Merit Medical Systems, Inc. (MMSI) plans to offer $550 million in Convertible Senior Notes due 2029 to qualified institutional buyers, with an option for an additional $82.5 million. The notes are senior unsecured obligations with semiannual interest. Upon conversion, Merit may pay in cash, stock, or a mix. Proceeds will fund general corporate purposes, potential acquisitions, and capped call transactions to minimize dilution from conversions. The notes and any shares from conversions are not registered under the Securities Act and are subject to Rule 144A.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:23 pm