Streetbeat News

Corporate Responsibility

SBUX

The Strategic Organizing Center, a coalition of labor unions including the Service Employees International Union, is pushing for three seats on Starbucks' board. This move intensifies the ongoing conflict over worker pay and conditions, as the group aims to influence the company's governance due to perceived oversight failures regarding employee treatment.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:10 pm

COIN

Coinbase CEO Brian Armstrong responded to Binance co-founder Changpeng Zhao's resignation, viewing it as a chance for a new industry chapter. Armstrong highlighted Coinbase's commitment to compliance since 2012. Zhao resigned as part of a plea deal with the DOJ, where Binance agreed to a $1.8 billion fine and a $2.5 billion forfeiture. Armstrong noted the challenges of compliance but believes it was the right decision. Coinbase's Chief Legal Officer, Paul Grewal, criticized the U.S. government's enforcement-only approach to crypto regulation, calling for legislation to protect consumers and promote a responsible marketplace.

Portfolio Pulse from Murtuza Merchant

November 21, 2023 | 10:36 pm

BNBUSD

Binance, the world's largest crypto exchange, and its CEO Changpeng Zhao have admitted guilt to federal charges, resulting in a $4.3 billion settlement with the U.S. Justice Department. The charges include violations of the Bank Secrecy Act, unlicensed money transmitting, and the International Emergency Economic Powers Act. Zhao has resigned as CEO following the admission of failing to maintain an effective anti-money laundering program. The settlement is one of the largest corporate penalties in U.S. history. Binance is now required to appoint an independent compliance monitor for three years and enhance its compliance programs.

Portfolio Pulse from Murtuza Merchant

November 21, 2023 | 10:16 pm

DIS

Disney has acknowledged that new collective bargaining agreements with the Directors Guild of America, the Writers Guild of America (WGA), and SAG-AFTRA will result in increased costs for the company, according to a Reuters report citing a recent filing.

Portfolio Pulse from Charles Gross

November 21, 2023 | 10:13 pm

MSFT

Microsoft is preparing its San Francisco offices to accommodate employees from OpenAI, the artificial intelligence research lab. This move comes as Microsoft continues to invest in and collaborate with OpenAI, creators of AI systems like ChatGPT and DALL-E.

Portfolio Pulse from Charles Gross

November 21, 2023 | 9:57 pm

DLO

DLocal Ltd (NASDAQ:DLO) reported Q3 earnings with revenue and EPS below estimates, and provided soft guidance for full-year 2023. Revenue was $163.92 million versus the expected $168.51 million, and EPS was 13 cents compared to the forecasted 15 cents. Despite a 47% year-over-year revenue increase and a 69% increase in total payment volume, the reaffirmed revenue guidance of $620 million to $640 million falls short of the $645.96 million estimate. Additionally, CFO Diego Cabrera Canay is stepping down but will remain through Q1 2024 for a smooth transition. After the report, DLocal shares dropped significantly in after-hours trading.

Portfolio Pulse from Adam Eckert

November 21, 2023 | 9:54 pm

COIN

Coinbase CEO Brian Armstrong discussed on CNBC the necessity for the cryptocurrency industry to establish clear regulatory frameworks. He emphasized the importance of understanding how existing rules can be applied to the industry to ensure regulatory clarity.

Portfolio Pulse from Charles Gross

November 21, 2023 | 9:40 pm

CERT

Certara, Inc. (NASDAQ:CERT) has launched Simcyp Biopharmaceutics software, a new addition to its Simcyp Simulator biosimulation platform. This software aids biopharmaceutic, formulation, and CMC scientists in efficiently formulating both novel and generic small molecule medicines. It offers capabilities such as virtual bioequivalence studies to replace costly clinical trials, optimization of formulations for complex drugs, and informing drug labels with PBPK models. The software is recognized for supporting label claims for over 100 approved therapies and is available as a standalone product.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 9:33 pm

FNGR

FingerMotion has announced a policy for the recovery of erroneously awarded incentive-based compensation, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 9:29 pm

NVDA

NVIDIA CEO Jensen Huang expressed optimism about the company's growth, highlighting that NVIDIA's GPUs, CPUs, networking, AI foundry services, and AI Enterprise software are key growth drivers. He also emphasized the burgeoning era of generative AI.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 9:22 pm