Streetbeat News

Corporate Responsibility

BID

Sotheby's is set to auction six shirts worn by Lionel Messi during Argentina's 2022 World Cup victory, with estimates exceeding $10 million. The shirts, including one from the final, could become the most valuable sports memorabilia ever auctioned. The current record is held by Michael Jordan's 1998 NBA Finals Jersey at $10.1 million. The auction, running from November 30 to December 14, follows the sale of Diego Maradona's 'Hand of God' shirt for $9.3 million. The auction is organized by AC Momento, a US tech startup, and a portion of proceeds will support the UNICAS project in partnership with the Leo Messi Foundation.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 4:08 pm

GOOG

GOOGL

META

MSFT

Meta Platforms, Inc. (META) has disbanded its Responsible AI (RAI) team, reallocating most members to its Generative AI product division and others to the AI Infrastructure team. This move follows the company's introduction of AI features and a shift in focus towards AI, as indicated by CEO Mark Zuckerberg's recent emphasis over the metaverse. Competitors like Alphabet Inc. (GOOG, GOOGL) and Microsoft Corp. (MSFT) have called for AI regulation. META's stock saw a slight increase in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 3:38 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) has launched 'AI Ready,' a program to provide free AI training to 2 million people by 2025. The initiative includes free courses, a scholarship with AWS, and a partnership with Code.org. AWS will offer over $12 million in Udacity scholarships to students from underserved communities. Additionally, Amazon has introduced the Hour of Code Dance Party: AI Edition in collaboration with Amazon Future Engineer and Code.org. Amazon's CEO Andy Jassy sees generative AI as a potential source of 'tens of billions in revenues.' AMZN stock saw a slight increase of 0.05% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 3:33 pm

WSFS

KBRA released its Q3 2023 U.S. Bank Compendium and 2024 Outlook, indicating a Stable outlook for the U.S. banking industry. The report suggests that most banks with KBRA ratings will maintain their ratings in an uncertain economic environment. It covers earnings, NIM stabilization, funding costs, credit trends, and capital measures. WSFS Financial Corporation (NASDAQ:WSFS) is featured with an A-/Stable outlook. The Compendium includes various performance metrics and a quarterly ESG bulletin.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 3:09 pm

EWU

MSGE

SPHR

London Mayor Sadiq Khan has blocked the construction of the MSG Sphere, a major entertainment venue proposed by Madison Square Garden Entertainment Corp. The decision was reported by Reuters, citing Sky News. The Sphere, which was planned to be built in Stratford, East London, faced opposition due to concerns over traffic congestion and the impact on local residents.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 3:06 pm

F

Ford Motor Co announced plans to refresh approximately half of its U.S. vehicle volume in 2024, focusing on the next generation of electric vehicles and software platforms.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:47 pm

KSS

Kohl's Corp (NYSE:KSS) shares are trading lower due to the announcement of a management transition, with the departure of president and COO Dave Alves effective Nov. 17. The company is expected to report Q3 financial results before the market opens on Tuesday, with an anticipated earnings of 33 cents per share on revenue of $4.111 billion. Kohl's has previously beaten analyst estimates in the first two quarters of 2023.

Portfolio Pulse from Adam Eckert

November 20, 2023 | 2:28 pm

DIS

FOX

Hotstar set a new viewership record in India with 59 million concurrent viewers for the World Cup cricket match, surpassing JioCinema's peak of 32 million. Despite this, Walt Disney Co (NYSE:DIS), which owns Hotstar, has lost over 23 million subscribers in India over the past year. Disney is considering various options for its future in India and has held talks with Reliance and other firms. The market shift has led Disney to focus on core businesses, facing competition from Ambani's Viacom18, which is investing heavily in IPL streaming. Disney maintains high expectations for the ICC Cricket World Cup viewership.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 2:23 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) stock is trading higher after CEO Satya Nadella announced that OpenAI's Sam Altman and Greg Brockman will join Microsoft to lead a new advanced AI research team. This follows OpenAI's decision to replace Altman with former Twitch CEO Emmett Shear. Microsoft has invested in OpenAI and has a tech partnership with the company. Nadella confirmed Microsoft's commitment to the partnership and expressed confidence in the product roadmap and innovation.

Portfolio Pulse from Adam Eckert

November 20, 2023 | 2:07 pm

EMR

Emerson (NYSE:EMR) has made a strategic investment in Frugal Technologies, a Danish company specializing in fuel optimization for shipping fleets. Frugal's AI-driven software aims to reduce fuel consumption by up to 15%, aligning with Emerson's expertise in marine systems. This collaboration addresses the need for better fuel management and compliance with stricter emissions targets set by the International Maritime Organization.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:06 pm