Streetbeat News

Corporate Responsibility

SPI

SPI Energy Co., Ltd. (NASDAQ:SPI) has issued a $2.2 million 5% Convertible Promissory Note to Palo Alto Clean Tech Holding Limited, which is affiliated with SPI's CEO, COO, and CFO. The note can be converted into shares at a price of $1.10 per share.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 8:49 am

TSLA

Marie Nilsson, the head of IF Metall union in Sweden, warns that Tesla Inc's (NASDAQ:TSLA) non-compliance with the Swedish collective agreement model could disrupt traditional labor practices. Despite the ongoing strike involving various workers, Nilsson assures that the union has sufficient funds to continue protesting for an extended period. Tesla maintains that over 90% of its workforce is still in place and claims its employment terms are competitive. The strike, which began in late October, has seen participation from multiple unions and has been criticized by Tesla CEO Elon Musk.

Portfolio Pulse from Anan Ashraf

November 29, 2023 | 8:48 am

AAPL

DIS

IBM

META

MTCH

WBD

Elon Musk responded to brands leaving his social media platform X after a report showed Instagram, owned by Meta Platforms Inc. (META), displaying sexualized content of minors. Brands like Apple Inc. (AAPL), Walt Disney Co. (DIS), IBM, Warner Bros. Discovery (WBD), and Washington Post have stopped advertising on X following Musk's controversial posts. Match Group Inc. (MTCH) and Bumble are also considering halting ads on Instagram. Over $75 million in ad revenue for X is at risk due to Musk's actions, despite his efforts to mitigate fallout, including an agreement with Israel on Starlink satellites.

Portfolio Pulse from Rounak Jain

November 29, 2023 | 8:43 am

AAPL

DIS

IBM

WBD

The Washington Post has joined Apple Inc. and Walt Disney Co. in pulling ads from X, a platform associated with Elon Musk, due to his endorsement of a debunked anti-Semitic conspiracy theory. This could result in a revenue loss of over $75 million for X. Other companies like Warner Bros. Discovery and IBM have also withdrawn their ads. Despite the controversy, Musk remains committed to his principles. X is facing a defamation lawsuit from Media Matters over allegations of ads being displayed next to pro-Nazi content.

Portfolio Pulse from Rounak Jain

November 29, 2023 | 7:11 am

FFND

GOOGL

TSLA

Gary Black, a Tesla investor, expressed frustration over criticism from other Tesla bulls for his willingness to challenge the company's strategies. He believes that healthy debate on risks is essential for investing. Despite his optimism about Tesla's EV sector dominance, Black has concerns about aggressive price cuts and sees advantages in launching a $25,000 Tesla model. Tesla's stock performance has also been affected by Elon Musk's Twitter acquisition. Tesla is a significant holding in Future Fund's Active ETF (FFND), with Alphabet Inc. as the top holding.

Portfolio Pulse from Shanthi Rexaline

November 29, 2023 | 7:01 am

AAPL

Apple Inc. (AAPL) plans to end its credit card partnership with Goldman Sachs Group (GS) within 12 to 15 months, as reported by the Wall Street Journal. The decision follows nearly four years of collaboration since 2019. Apple has recently launched a high-yield savings account and a 'buy now, pay later' service, while Goldman Sachs has been reevaluating its consumer lending strategy, including a potential sale of its General Motors credit card program.

Portfolio Pulse from Ananya Gairola

November 29, 2023 | 2:48 am

MSFT

OpenAI may not offer board seats to Microsoft Corporation (NASDAQ:MSFT) and other investors such as Khosla Ventures and Thrive Capital. This follows the recent firing of OpenAI co-founder and CEO Sam Altman. Microsoft, having invested over $10 billion in OpenAI, is a significant supporter. The new OpenAI board is expected to confirm Bret Taylor, Larry Summers, and Adam D’Angelo as directors. Microsoft's response to the situation is to await official communication from the board.

Portfolio Pulse from Ananya Gairola

November 29, 2023 | 2:11 am

AAPL

At the Gotham Awards, Robert De Niro's speech criticizing former President Donald Trump was allegedly censored, and De Niro implied that Apple Inc. (AAPL), the distributor of his film 'Killers of the Flower Moon', was responsible. Apple has not commented on the accusation. The incident could affect decisions on De Niro's involvement in future promotions for the film, which is a significant investment for Apple and has grossed over $151.9 million worldwide.

Portfolio Pulse from Chris Katje

November 29, 2023 | 12:22 am

AAPL

Apple Inc. has proposed to end its credit-card partnership with Goldman Sachs within the next 12-to-15 months. This decision includes terminating the joint credit card launched in 2019 and the savings account introduced in 2022.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 11:13 pm

Unity Software is planning to close corporate offices in approximately 14 locations as part of its evaluation of its real estate footprint. The company will also recognize deferred revenue and additional consideration of approximately $114 million in connection with amendments to its agreements with WETA FX, as disclosed in an 8-K filing.

Portfolio Pulse from Charles Gross

November 28, 2023 | 10:13 pm