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Corporate Responsibility

BA

Boeing subsidiary Millennium Space Systems has successfully completed the Critical Design Review (CDR) for its Missile Track Custody Space Vehicle less than a year after receiving the authorization to proceed. This milestone indicates progress in the development of the vehicle, which is designed to track missiles.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 9:04 pm

BA

Millennium Space Systems, a subsidiary of Boeing (NYSE:BA), has completed the Critical Design Review (CDR) for the Missile Track Custody (MTC) space vehicle. This milestone was achieved less than a year after the project was authorized and only five months after the Preliminary Design Review. The company will now proceed to deliver six space vehicles for MTC Epoch 1, which includes two additional vehicles from the original contract and four more from an expanded Other Transaction Authority. The focus on digital engineering and a mature spacecraft architecture has allowed for rapid progress and is expected to reduce risks in vehicle production.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 9:02 pm

PGY

PLSE

Pagaya Technologies shares are down due to a CFO transition. Pulse Biosciences shares are up after receiving regulatory approvals for a feasibility study and news of potential stock purchases by Executive Chairman Robert W. Duggan.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 8:01 pm

F

GM

STLA

TSLA

Tesla Inc (NASDAQ:TSLA) is facing a labor dispute in Sweden with IF Metall union, representing mechanics who have gone on strike. The conflict has escalated with Tesla suing the Swedish state and other unions joining in solidarity, affecting Tesla's operations and supply chain in Sweden. The dispute comes ahead of the Cybertruck launch and could have broader implications for Tesla's anti-union stance globally. Meanwhile, Tesla's stock is up 0.9% after a month-long 14% climb. Other automakers like Ford (NYSE:F), General Motors (NYSE:GM), and Stellantis (NYSE:STLA) have recently faced similar union challenges, with the UAW securing new agreements that could pressure Tesla to raise wages.

Portfolio Pulse from Natan Ponieman

November 27, 2023 | 7:50 pm

EIS

SPY

President Biden has stated that the current pause in fighting is being used to maximize the delivery of humanitarian aid to Gaza, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 7:20 pm

AMZN

GOOGL

MSFT

The U.S. and U.K., along with 16 other countries, signed an agreement on AI safety, emphasizing 'secure by design' principles. The agreement, influenced by CISA, NCSC, and major AI developers like Amazon, Alphabet, and Microsoft, aims to protect AI from misuse and enhance cybersecurity. The guidelines encourage AI developers to be aware of threats and incorporate best practices in cybersecurity and risk management. While only guidelines, some countries are considering regulation, and President Biden has ordered safety assessments for the AI industry.

Portfolio Pulse from Neil Dennis

November 27, 2023 | 6:23 pm

VWAGY

Volkswagen AG (OTC:VWAGY) is implementing a €10 billion cost-saving plan, which includes staff reductions, to improve efficiency during its transition to electric vehicle production. The company is negotiating with its works council on this cost-cutting initiative. Volkswagen aims to become more competitive by addressing high costs and redundant structures. The workforce reduction will primarily be through partial or early retirement, but the majority of savings will come from other areas. VWAGY shares dropped by 0.77% to $12.85.

Portfolio Pulse from Shivani Kumaresan

November 27, 2023 | 6:07 pm

META

The Wall Street Journal's test revealed that Instagram's algorithm recommends inappropriate content, including sexualized videos, which led to a response from Meta Platforms, Inc (NASDAQ:META) and a decision by Bumble to halt advertisements on Meta's platforms. Despite Meta's response emphasizing their efforts to address the issue, the findings raise concerns about Instagram's content recommendation system. META shares were slightly up at the time of publication.

Portfolio Pulse from Anusuya Lahiri

November 27, 2023 | 4:15 pm

LHX

L3Harris Technologies Inc (NYSE:LHX) has agreed to sell its Commercial Aviation Solutions (CAS) business to an affiliate of TJC L.P. for $800 million, comprising $700 million in cash and $100 million in earnout. The sale is part of L3Harris' strategy to focus on national security and technology and is expected to close in the first half of 2024, pending regulatory approval. Proceeds will be used to repay debt. LHX shares dropped by 0.76% to $189.55.

Portfolio Pulse from Shivani Kumaresan

November 27, 2023 | 3:45 pm

AAPL

Packy McCormick, a cryptocurrency advisor to Andreessen Horowitz, experienced a security breach when his Apple ID was hacked, resulting in the loss of access to his iCloud data. Despite having control over the associated email, Apple Inc. (NASDAQ:AAPL) was unable to restore his access after the hacker changed the phone number linked to the account. This issue has been reported by numerous users over several years, yet Apple has not addressed the problem. The breach highlights a significant flaw in Apple's two-factor authentication system, which, instead of enhancing security, has left users with hacked accounts more vulnerable.

Portfolio Pulse from Rounak Jain

November 27, 2023 | 3:04 pm