Streetbeat News

Corporate Responsibility

STM

STMicroelectronics (NYSE:STM) has entered into a 15-year Power Purchase Agreement with ERG's subsidiary ERG Power Generation to supply renewable energy to its Italian operations from 2024 to 2038. The deal involves the sale of approximately 250 GWh of renewable energy annually, totaling 3.75 TWh over the duration, from ERG's Sicilian wind farms. This will support STM's semiconductor manufacturing sites in Agrate and Catania, as well as its R&D and sales and marketing sites in Italy.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 11:04 am

BA

Boeing Co's (NYSE:BA) Starliner spacecraft is scheduled for its first crewed flight to the International Space Station (ISS) in mid-April, potentially launching on April 14. The mission, delayed due to a parachute issue, will carry astronauts Butch Wilmore and Suni Williams aboard an Atlas V rocket. Success would lead to NASA certifying Starliner for crew rotation missions alongside SpaceX's Crew Dragon. Boeing received a $4.2 billion contract from NASA in 2014 for Starliner's development.

Portfolio Pulse from Anan Ashraf

November 24, 2023 | 10:55 am

HTZ

TSLA

Elon Musk encourages renting Tesla vehicles through Hertz to try them out, despite Hertz's plans to downsize its EV fleet, including Tesla cars, due to higher repair costs and lower resale values affecting EBITDA. Hertz CEO Stephen Scherr indicated a shift towards purchasing EVs from other manufacturers and a non-rigid timeline for having 25% of its fleet electric by end of 2024.

Portfolio Pulse from Anan Ashraf

November 24, 2023 | 10:25 am

MSFT

Top engineers at OpenAI threatened to resign if CEO Sam Altman was not reinstated, demonstrating their influence. Altman was dismissed but quickly reinstated after the threat. AI engineers at OpenAI earn high salaries, with specialized roles potentially reaching $800,000 annually. Microsoft, which holds a 49% stake in OpenAI, offered jobs to these engineers, causing internal discontent due to compensation disparities. The incident highlights the value of AI talent and the competitive dynamics in the tech industry.

Portfolio Pulse from Ananya Gairola

November 24, 2023 | 9:22 am

GOOG

GOOGL

Alphabet Inc.'s Google Maps has received a design update that has been met with mixed reactions. Former designer Elizabeth Laraki criticized the new color scheme as 'colder, less accurate and less human.' While some users appreciate the clearer display of roads and traffic, others support Laraki's views. The update comes as Google Maps faces increased competition from Apple Maps, which has made significant improvements and has taken a portion of Google Maps' mobile traffic on iPhones.

Portfolio Pulse from Ananya Gairola

November 24, 2023 | 8:49 am

STLA

Stellantis N.V. (NYSE:STLA) has launched its SUSTAINera Circular Economy Hub at the Mirafiori Complex in Turin, Italy, as part of its strategy to achieve net-zero carbon emissions by 2038. The hub will focus on extending the life of automotive parts and vehicles through the 4R strategy (Reman, Repair, Reuse, Recycle). With an investment of €40 million, the hub currently employs 170 people, with plans to increase to 550 by 2025. This initiative underscores Stellantis's commitment to sustainable practices in the automotive industry.

Portfolio Pulse from Benzinga Neuro

November 24, 2023 | 8:38 am

VIOT

Viomi Technology Co., Ltd (NASDAQ:VIOT), a leading IoT@Home company in China, has announced the creation of a strategic business unit (SBU) focused on water purification. The company aims to leverage its R&D and manufacturing capabilities in this area. Viomi has appointed Qi Chen, a former executive of A.O. Smith (China) Water Heater Co., Ltd., as president of the new water purification SBU. Chen brings extensive experience from the water purification industry and sales management in FMCG corporations.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 7:17 am

PTON

Peloton Interactive Inc. (NASDAQ:PTON) experienced technical difficulties during its 10th annual 'Turkey Burn' event, which aimed to set a Guinness World Record for the largest live cycling class. CEO Barry McCarthy apologized for the system overload that prevented some of the attendees from joining. Over 37,000 participants were able to join, but the number of those who couldn't is unknown. The class is now available on-demand, and an encore event is scheduled.

Portfolio Pulse from Benzinga Neuro

November 24, 2023 | 5:36 am

NFLX

Contestants of 'Squid Game: The Challenge' are considering a lawsuit against Netflix Inc. (NASDAQ:NFLX) for injuries sustained during filming. Express Solicitors, a U.K. law firm, represents two contestants who claim to have suffered from hypothermia and nerve damage. The firm has sent claim letters to co-producer Studio Lambert. Netflix confirmed that three contestants needed medical attention during filming. No lawsuit has been filed yet, but the claims could impact the show's reputation and lead to legal issues for Netflix.

Portfolio Pulse from Ananya Gairola

November 24, 2023 | 1:43 am

GOOG

META

A recent analysis by Comparably on employee satisfaction with compensation packages revealed that tech companies, particularly cybersecurity firms, performed well, but Meta Platforms Inc and Alphabet Inc slipped in the rankings. The analysis was based on worker sentiment from August 2022 to August 2023, focusing on pay fairness, raise frequency, benefits, bonuses, and stock compensation. Meta and Alphabet were in the top 10 last year but have dropped due to Meta's focus on efficiency and Alphabet's cutbacks on perks. Transparency in pay and equitable practices were highlighted as important for employee satisfaction.

Portfolio Pulse from Adam Eckert

November 23, 2023 | 3:46 pm