Streetbeat News

Corporate Responsibility

ACIU

AC Immune SA (NASDAQ:ACIU), a biopharmaceutical company, has announced the appointment of Dr. Madiha Derouazi as Chief Scientific Officer and the promotion of Christopher Roberts from Interim CFO to permanent CFO. Dr. Derouazi will succeed the retiring Dr. Marie Kosco-Vilbois, who will stay on as an expert consultant to facilitate a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 12:05 pm

BAM

Brookfield Asset Management has launched an Emerging Markets Transition Fund with an anchor commitment from ALTÉRRA. This fund, alongside an investment in the Brookfield Global Transition Fund, aims to deploy over $20 billion towards climate initiatives.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 12:03 pm

VFC

VF Corp (NYSE:VFC), owner of North Face, is cutting 500 salaried jobs as part of a new strategy to reduce costs and manage debt amid declining North American sales, particularly due to the underperformance of its Vans brand. The company, facing pressure from activist investors, withdrew its fiscal year guidance in October and initiated a transformation plan. VF Corp employs 33,000 people, with 60% in full-time positions. The job cuts are aimed at providing financial flexibility and positioning the company for long-term growth. VFC shares dropped 2.34% to close at $16.73 on Thursday.

Portfolio Pulse from Shivani Kumaresan

December 01, 2023 | 11:32 am

NSIT

Insight Enterprises, a global provider of Insight Intelligent Technology Solutions, has acquired SADA, a six-time Google Cloud Partner of the Year. This acquisition brings 850 professionals dedicated to the Google Cloud ecosystem into Insight's fold, expanding its team to over 14,500 members across 26 countries.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 11:08 am

AAPL

DIS

META

NFLX

TSLA

WBD

Elon Musk, CEO of Tesla Inc., received support from Welt's editor-in-chief Ulf Poschardt, who praised Musk's 'Go f**k yourself' response to advertisers boycotting his social network X. Poschardt views Musk's stance as a triumph against 'woke' culture. Musk has been criticized for his comments and for endorsing a debunked anti-Semitic conspiracy theory, leading to major advertisers like Apple, Disney, Warner Bros. Discovery, and others halting their ads on X. Despite the controversy, Musk found support from hedge manager Bill Ackman, who remains invested in X.

Portfolio Pulse from Rounak Jain

December 01, 2023 | 10:53 am

AAPL

Apple Inc. (NASDAQ:AAPL) has introduced new accessibility features, Live Speech and Personal Voice, to aid individuals with speech impairments. These features support users with conditions like FSHD and ALS, allowing them to communicate effectively and maintain their unique voices. Apple's commitment to inclusive design is evident in their continuous development of assistive technologies for people with various disabilities.

Portfolio Pulse from Benzinga Neuro

December 01, 2023 | 10:46 am

HYW

Hywin Holdings has announced a strategic partnership with Tencent Cloud to facilitate its digital transformation. This collaboration is expected to enhance Hywin's technological capabilities and improve its service offerings through Tencent Cloud's advanced cloud computing solutions.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 10:07 am

DIS

PSHZF

Bill Ackman defended Elon Musk's commitment to free speech amid criticism over anti-Semitic comments and advertisers pulling out from Musk's social media platform, X. Ackman's firm, The Pershing Square Foundation, remains invested in X and supports companies advertising there. Ackman criticized Disney (DIS) for suspending ads on X and suggested Nelson Peltz could influence Disney's decision once on the board. Despite a potential $75 million loss in ad revenue for X, Ackman praised Musk's ownership of X but proposed a trust as a better long-term owner. Pershing Square Holdings (PSHZF) shares fell 1.55%.

Portfolio Pulse from Shanthi Rexaline

December 01, 2023 | 9:09 am

WETG

WeTrade Group Inc. (WETG) disclosed findings from an internal audit that revealed a $2 million expenditure by former COO Zhuo Li and former CFO Jianda Xu that raised doubts. The company has reported the incident to PCAOB and the Chinese police.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 7:21 am

NVDA

Huawei Technologies Co. is reportedly becoming a central figure in China's strategy to create an independent chip ecosystem, as revealed by a Bloomberg report. The Chinese government is covertly supporting Huawei to be the main chip designer and client for manufacturers, while also providing technical and financial assistance to smaller firms in the chip supply chain. Despite Huawei's denial of government aid for semiconductor technology, anonymous sources claim the government's top levels have chosen Huawei to lead the country's chip industry self-sufficiency efforts. This comes as countries, including the U.S., strive for semiconductor independence, highlighted by NVIDIA CEO Jensen Huang's comment on the U.S.'s long road to chip manufacturing autonomy.

Portfolio Pulse from Ananya Gairola

December 01, 2023 | 2:22 am