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Corporate Responsibility

INTC

NVDA

SSNGY

TSM

NVIDIA Corporation's CEO, Jensen Huang, stated that the U.S. may take up to two decades to achieve independence from foreign chip manufacturing. At the DealBook conference, he highlighted the global dependency of NVIDIA's supply chain and the impracticality of U.S. supply chain independence in the short term. Despite U.S. efforts to localize chip production, Huang emphasized NVIDIA's commitment to China, its largest market, and the need to develop new chips that comply with U.S. regulations for export. Leading chipmakers like TSMC, Samsung, and Intel are expanding their U.S. operations. NVIDIA's stock (NVDA) saw a slight increase of 0.74% to $481.75.

Portfolio Pulse from Nabaparna Bhattacharya

November 29, 2023 | 6:34 pm

BRK.A

BRK.B

Berkshire Hathaway Inc. has accused Jimmy Haslam, the former owner of Pilot Travel Centers, of promising illicit payments to executives to inflate the company's earnings. In a court filing, Berkshire alleges Haslam engaged in a scheme to boost short-term profit, thereby increasing the value of his 20% stake in Pilot. The case was filed in Delaware Chancery Court, claiming Haslam offered 'side' bonuses to 15 senior executives and managers.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 6:11 pm

EGRX

Eagle Pharmaceuticals' stock is down following the announcement of a Nasdaq deficiency notice for a late 10-Q filing and the immediate resignation of Founder, President, and CEO Scott Tarriff.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:51 pm

WETG

WeTrade Group Inc. (NASDAQ:WETG) disclosed that its Q3 financial statements were falsely reported and not released by current management. Discrepancies include incorrect office address, misrepresented cash and bank deposits, unreported comprehensive income from a subsidiary, undisclosed BTC strategy funding, false claims of subsidiary dissolution and employee payments, inaccurate share capital information, and unmentioned legal proceedings. The report's validity is questioned, impacting trust and regulatory compliance.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 4:55 pm

EPOW

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) announced that its subsidiary, Sunrise (Guizhou) New Energy Materials Co., Ltd., has secured a $28 million investment to supplement the company's cash flow. This investment will support the fulfillment of substantial orders from major clients, including CATL and BYD, and top energy storage battery companies.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 4:06 pm

CRM

MSFT

Salesforce Inc (CRM) is set to report Q3 earnings with analysts expecting $2.06 EPS and $8.72 billion in revenue. Focus areas include operating costs, profit margins, leadership changes at Slack, and Einstein GPT integration. Salesforce has been managing costs by reducing its workforce, resulting in lower operating expenses in Q2. The company has a high gross profit margin compared to the sector and aims to be highly profitable. The consensus rating is a Buy with a target price around $248-$278. Shares were up 2.1% to $229.83 ahead of the earnings report.

Portfolio Pulse from Surbhi Jain

November 29, 2023 | 4:05 pm

AEIS

EAST

QBAK

XXII

22nd Century Group, Inc. (XXII) appoints Lawrence Firestone as chairman and CEO. The company also announced the sale of its GVB Biopharma operations to Specialty Acquisition Corporation for $2.25 million. Firestone has extensive experience, including roles as CEO of Eastside Distilling, Inc. (EAST) and Qualstar Corporation (QBAK), and CFO of Advanced Energy Industries (AEIS) and Applied Films Corporation (AFCO). 22nd Century reported an 8.2% drop in net revenue and a significant operating loss. The Blinc Group promoted Pete Sahani to CEO, with the former CEO taking a new role. XXII shares rose 10.6977% to $0.2380.

Portfolio Pulse from Jelena Martinovic

November 29, 2023 | 3:53 pm

INTU

Intuit CEO Sasan K. Goodarzi is scheduled to appear on CNBC at 11:00 am ET.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 3:45 pm

KKR

KKR & Co. Inc. (NYSE:KKR) is set to acquire the remaining 37% stake in Global Atlantic, increasing its ownership to 100%. The deal, valued at approximately $2.7 billion, is expected to close in 1Q24. KKR's shares rose by 5.23% following the announcement. The firm also introduced strategic initiatives, including a new business segment, a revised compensation structure, and a new reporting framework to enhance shareholder value and emphasize recurring revenue streams.

Portfolio Pulse from Akanksha Bakshi

November 29, 2023 | 3:34 pm

UBER

Smartcar has partnered with Uber Technologies to integrate EV battery level data into Uber's Driver app, reducing range anxiety for EV drivers. This feature will initially be available for select makes and models, with plans to expand. It aims to make EV rideshare more user-friendly and supports Uber's goal of becoming a zero-emission platform by 2030 in the U.S. and Canada, and carbon-free by 2040 globally. Uber is investing $800 million to assist drivers in transitioning to EVs, and Smartcar's technology enables battery range checks without additional hardware.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 3:08 pm