Streetbeat News

Corporate Responsibility

FOLD

John Crowley, Executive Chairman of Amicus Therapeutics, will step down from his position effective March 4, 2024. Michael Raab, the Lead Independent Director, is set to become the new Chairman.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 11:05 am

FENC

Fennec Pharmaceuticals Inc. has announced a third closing of $5 million in senior secured promissory notes under an existing agreement with Petrichor. The original deal allowed for up to $20 million in additional financing until December 31, 2023. The agreement has been amended to provide access to up to $15 million more through December 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 10:58 am

DGHI

Digihost Technology Inc. reported mining approximately 77 BTC in November 2023, marking a 26% increase in daily BTC production YoY. The company held $2.1 million in cash, BTC, and cash deposits as of November 30, 2023. Capital expenditures for the month were about $0.3 million, aimed at avoiding equity dilution. Digihost continues to fund its energy costs by monetizing a portion of its BTC production and did not purchase or sell any miners during the month.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 10:05 am

HPQ

HP Inc. (NYSE:HPQ) CFO Marie Myers highlighted the success of the company's subscription-based model, particularly the Instant Ink service, which has over 11 million subscribers. This model has improved margins, with the Printing division's margin increasing from 14.8% in fiscal 2020 to 18.9% in fiscal 2023. The subscription service and Smart Tank hardware now account for 60% of total shipments, indicating a strategic shift in HP's business model in response to declining global print volumes.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 7:52 am

TSLA

Tesla CEO Elon Musk reflected on a tweet from May 2013 where he expressed his desire to create a pickup truck with sports car handling and mega torque. Musk's recent tweet simply states, 'How time flies ...' as he looks back on the progress made since then.

Portfolio Pulse from Anan Ashraf

December 05, 2023 | 7:17 am

IBM

INTC

META

ORCL

Meta Platforms (META) and International Business Machines (IBM) have formed an AI Alliance with over 50 companies and research institutions, including Intel (INTC) and Oracle (ORCL), to advocate for open AI. The coalition aims to foster open innovation and science in AI, with members supporting open-source technology. Despite past setbacks in AI, both IBM and Meta are contributing to the alliance, with IBM introducing its new Watsonx system and Meta promoting its Llama 2 AI model. The alliance addresses the need for a diversified AI product market, reducing single-vendor dependency risks.

Portfolio Pulse from Navdeep Yadav

December 05, 2023 | 6:48 am

AAPL

A check signed by Apple Inc co-founder Steve Jobs in 1976 is expected to fetch over $20,000 at auction. The check, which references the 'Apple Computer Company,' is a rare collectible as Jobs was known for rarely giving autographs. In the past, items signed by Jobs have sold for high amounts, with a letter declining an autograph request selling for $479,939 in 2021. The auction for the check is currently active with bids exceeding $22,000. Radio Shack, mentioned in the check's history, filed for bankruptcy in 2015.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 6:13 am

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