Streetbeat News

Corporate Responsibility

FSR

Fisker Inc's (NYSE:FSR) Chief Accounting Officer, Florus Beuting, resigned on November 14th, less than two weeks after his appointment on November 6th. The resignation follows Fisker's failure to file its Q3 10-Q report on time, receiving a notice from the NYSE. The company reported preliminary Q3 revenue of $71.8 million, which is below the consensus estimate of $109.029 million, and delivered less than 1,100 vehicles. Fisker has not explained the cause for the filing delay but plans to file the report within the next few days.

Portfolio Pulse from Anan Ashraf

November 21, 2023 | 3:50 am

CRM

MSFT

Salesforce Inc. (CRM) CEO Marc Benioff has invited OpenAI researchers who have resigned to join Salesforce's Einstein Trusted AI research team, offering matching compensation. This follows Microsoft Corporation's (MSFT) move to form a new AI research team led by former OpenAI leaders Sam Altman and Greg Brockman. The invitation comes amid a potential mass exodus at OpenAI, where employees have threatened to leave unless the board is restructured and Altman and Brockman are reinstated.

Portfolio Pulse from Ananya Gairola

November 21, 2023 | 2:11 am

AAPL

CMCSA

IBM

TWTR

Elon Musk's social media platform X, formerly known as Twitter, is suing Media Matters for defamation following a report that claimed major brand ads were shown alongside Nazi-promoting content. The report led to advertisers like IBM and Comcast pulling their ads from the platform. Despite the controversy and calls for X's CEO Linda Yaccarino to resign, the company remains committed to fighting antisemitism and discrimination.

Portfolio Pulse from Benzinga Neuro

November 21, 2023 | 1:50 am

MSFT

OpenAI's board approached Anthropic's CEO Dario Amodei for a potential merger and to replace fired CEO Sam Altman. Amodei declined the CEO offer due to his commitment to Anthropic, which competes with OpenAI with its chatbot Claude. No serious merger discussions have been reported.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:41 am

MSFT

Sam Altman's unexpected departure as CEO of OpenAI has led investors to consider legal action against the board. Concerns about the AI startup's future and potential financial losses are heightened by talks of employee resignations. Microsoft (NASDAQ:MSFT), owning a 49% stake in OpenAI, has inducted Altman and another ousted executive into its AI research team after the board's refusal to reinstate them.

Portfolio Pulse from Ananya Gairola

November 21, 2023 | 1:27 am

MSFT

Microsoft CEO Satya Nadella emphasized the need for governance changes at OpenAI following the board's dismissal of co-founder Sam Altman as CEO. Nadella mentioned dialogue with OpenAI's board and announced that Altman and Greg Brockman would join a new Microsoft AI research group. This follows the appointment of Emmett Shear as OpenAI's interim head and a letter from OpenAI employees threatening to resign and join Microsoft's subsidiary. Investors, including Microsoft, are reportedly seeking to reverse the board's decision.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 11:05 pm

MSFT

In a CNBC interview, Microsoft CEO Satya Nadella expressed the company's intention to continue its partnership with OpenAI. This ongoing collaboration aligns with Microsoft's strategy to integrate AI into their products and services, potentially enhancing their offerings and maintaining a competitive edge in the technology sector.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 11:04 pm

MSFT

Investors in OpenAI are contemplating legal action against the board following the sudden termination of the company's CEO, as reported by Reuters citing sources. Microsoft (MSFT), which has invested in OpenAI, may be affected by these developments.

Portfolio Pulse from Charles Gross

November 20, 2023 | 10:40 pm

COST

Janelle Schuurman, a former elementary school teacher, left her 11-year teaching career for a job at Costco Wholesale Corp (NASDAQ:COST), citing overwork, lack of support, and safety concerns as reasons for her career change. Despite the passion for teaching, the demands of the job, including long hours, large class sizes without aides, and the need to ensure student safety amidst increasing school shootings, led to her decision. At Costco, she finds better pay, benefits, and overall happiness. Schuurman's story highlights the broader issue of teacher shortages in the U.S. and the need for systemic changes in the education sector.

Portfolio Pulse from Adam Eckert

November 20, 2023 | 10:27 pm

DIS

The Walt Disney Company (NYSE:DIS) has suspended advertising on Twitter and conducted a 24-hour silent protest by not posting from its various business units, including @disney and @espn, in response to concerns over content and antisemitic comments on the platform. Other major companies have also paused advertising on Twitter due to ads appearing alongside antisemitic content, as reported by Media Matters. Elon Musk, the owner of Twitter, has threatened to sue Media Matters over these allegations.

Portfolio Pulse from Chris Katje

November 20, 2023 | 9:31 pm