Streetbeat News

Corporate Responsibility

AAPL

DIS

TSLA

Over the weekend, Bitcoin's price is expected to rise towards $50,000 despite SEC delays in ETF approvals. Tesla Inc. faces an ad boycott and investor criticism due to CEO Elon Musk's controversial posts, with a notable investor switching to a Rivian vehicle. Apple Inc., along with other major companies like Walt Disney, Warner Bros. Discovery, and IBM, have pulled ads from a platform following Musk's controversial statements. OpenAI's CEO Sam Altman was unexpectedly ousted, with CTO Mira Murati stepping in as interim CEO. Tributes were paid to former First Lady Rosalynn Carter after her passing.

Portfolio Pulse from Benzinga Neuro

November 20, 2023 | 10:56 am

BABA

Alibaba Group Holding Limited (NYSE:BABA) is focusing on four new business pillars to drive growth, following the halt of its cloud unit spin-off due to U.S. chip export restrictions. CEO Eddie Wu Yongming emphasized innovation in key areas and announced the creation of independent subsidiaries for greater market flexibility. Alibaba also acquired a minority stake in Vietnamese beauty chain Hasaki, aiming for a 35% local market share by 2027. Amidst rumors of layoffs, Alibaba declared the speculations false and reported the matter to the police.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 10:54 am

ADA-USD

MSFT

Charles Hoskinson, founder of Cardano, invited former OpenAI CEO Sam Altman to collaborate on a decentralized large language model project that could integrate with Cardano's Partner Chain ecosystem. Meanwhile, Microsoft has already brought Altman and Greg Brockman onboard to lead a new advanced AI research team after Altman's departure from OpenAI. ADA's price was up 6% at the time of reporting.

Portfolio Pulse from Mehab Qureshi

November 20, 2023 | 10:32 am

AZN

AstraZeneca has launched Evinova, a new health-tech business providing digital health solutions to healthcare professionals, regulators, and patients. Evinova, backed by AstraZeneca, will collaborate with Parexel and Fortrea to offer its services globally to the life sciences and healthcare sector. It aims to support clinical trial sponsors, CROs, clinical trial site care teams, and patients with evidence-led, science-based, and human experience-driven digital products.

Portfolio Pulse from Charles Gross

November 20, 2023 | 10:04 am

MSFT

Microsoft shares increased by 2.7% in premarket trading following the announcement that CEO Satya Nadella has appointed Sam Altman and Greg Brockman to lead a new advanced AI research team at the company.

Portfolio Pulse from Charles Gross

November 20, 2023 | 10:00 am

BOX

MSFT

Microsoft CEO Satya Nadella has been widely praised for hiring OpenAI co-founders Sam Altman and Greg Brockman, along with their former colleagues, to lead a new advanced AI research team. The move is seen as a strategic masterstroke, executed swiftly and decisively. Industry leaders and peers, including Aaron Levie of Box Inc. and Balaji Srinivasan, formerly of Coinbase, have commended Nadella's quick action. Elon Musk, also a co-founder of OpenAI, humorously commented on the situation, sparking a series of 'Revenge of Clippy' memes.

Portfolio Pulse from Rounak Jain

November 20, 2023 | 9:58 am

LYB

LyondellBasell Industries NV (LYB) announced plans to construct its first industrial-scale catalytic advanced recycling demonstration plant in Wesseling, Germany. The plant will have an annual capacity of 50,000 tons and is expected to be completed by the end of 2025.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 9:09 am

MAR

Marriott International has announced the relaunch and expansion of its donation program across various regions including the Caribbean, Latin America, Europe, the Middle East, and Asia Pacific. This initiative is part of the company's commitment to corporate responsibility and sustainability.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 8:28 am

MSFT

Sam Altman and Greg Brockman, after being ousted from OpenAI, will lead a new advanced AI research team at Microsoft (NASDAQ:MSFT). Microsoft CEO Satya Nadella confirmed the move, which allows Microsoft to retain OpenAI talent and aligns with their commitment to innovation and partnership with OpenAI. This decision follows the support Altman received from OpenAI executives and employees.

Portfolio Pulse from Rounak Jain

November 20, 2023 | 8:16 am

C

Citigroup Inc. (NYSE:C) is preparing for a major restructuring that includes significant layoffs and a senior management reshuffle, expected to be announced on Monday. The restructuring, part of 'Project Bora Bora', could impact thousands of employees, particularly in compliance, risk management, and technology with overlapping tasks. This follows Citi's Q3 report of a 15% reduction in top leadership roles and the elimination of 60 committees. The changes aim to decrease management layers from 13 to eight.

Portfolio Pulse from Benzinga Neuro

November 20, 2023 | 8:13 am