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XPEV

In response to complaints about the unavailability of its Navigation Guided Pilot (NGP) feature, Xpeng Motors is offering a 2,000 yuan voucher to P5 owners. The news was reported by China's National Business Daily.

Portfolio Pulse from Charles Gross

November 03, 2023 | 10:06 am

SBUX

Starbucks Corporation's new CEO, Laxman Narasimhan, has unveiled a long-term strategic plan called the 'Triple-Shot Reinvention Strategy'. The strategy focuses on enhancing the store experience, expanding digital capabilities, and increasing global outreach. The company expects this strategy to lead to a long-term revenue growth of 10% or more and an earnings per share growth of 15% or more. Starbucks also plans to operate 55,000 stores by 2030, a 45% increase from its current 38,000 stores.

Portfolio Pulse from Benzinga Neuro

November 03, 2023 | 9:34 am

NKLA

Nikola Corp (NASDAQ:NKLA) has outlined its strategy following a recall of all its battery electric trucks due to fire incidents caused by coolant leaks within the battery packs. The company plans to replace the battery packs in the existing BEVs with new packs from an alternative supplier. The upgraded vehicles, dubbed “2.0,” will feature improved battery packs, scheduled departure charging, enhanced human-machine interface (HMI), and Bluetooth functionality. They are set to be returned to customers starting in Q1 2024. Nikola anticipates increased costs over the next nine to 12 months related to the recall, leading to an additional capital requirement of approximately $400 million.

Portfolio Pulse from Anan Ashraf

November 03, 2023 | 8:51 am

TSLA

Elon Musk, CEO of Tesla Inc., discussed the future of jobs and the role of AI with UK Prime Minister Rishi Sunak. Musk believes that AI will eventually make all jobs obsolete, although he acknowledged the difficulty of predicting when this will occur. Sunak noted that AI has already created job opportunities and enhanced human capabilities. The conversation followed the AI Safety Summit, where tech companies and nations signed a voluntary agreement to allow governments to test their latest AI models for societal and national security risks.

Portfolio Pulse from Ananya Gairola

November 03, 2023 | 6:56 am

AMZN

Amazon.com Inc (NASDAQ:AMZN) founder Jeff Bezos is moving from Seattle to Miami, Florida. The decision was influenced by his parents' recent move to Miami and the shifting operations of his space venture, Blue Origin, to Cape Canaveral, Florida. Bezos founded Amazon in Seattle and transformed the city into a technology hub. Despite stepping down as CEO in July 2021, Amazon remains the city's largest private employer.

Portfolio Pulse from Shanthi Rexaline

November 03, 2023 | 6:12 am

BOX

Box, Inc. (NYSE:BOX) has announced the appointment of Olivia Nottebohm as its new Chief Operating Officer (COO), succeeding Stephanie Carullo who is retiring. Nottebohm, who has held leadership roles at Google, Notion, and Dropbox, will lead the global go-to-market organization at Box, including Sales, Customer Success, and Marketing. Carullo helped double Box's annual revenue to over $1 billion during her tenure.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 10:00 pm

IPVF

InterPrivate III Financial Partners Inc. (NYSE:IPVF) has announced that its board of directors has decided to extend the deadline to complete an initial business combination from November 9, 2023, to December 9, 2023. This is the sixth of nine potential one-month extensions available to the company. In connection with the extension, the company deposited $21,000 into the company's trust account.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:51 pm

HASI

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) has adopted a tax benefits preservation plan to protect the value of its net operating losses (NOLs) and other tax attributes, which exceed $465 million as of December 31, 2022. The plan aims to prevent an 'ownership change' that could limit the company's ability to use its tax attributes. The board has declared a dividend of one right to purchase junior participating preferred stock for each outstanding share of HASI common stock, payable to holders of record as of November 21, 2023. The rights will expire on November 2, 2026.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:41 pm

KRON

Kronos Bio, Inc. (NASDAQ:KRON) has announced a plan to optimize resource allocation, restructure, and contain costs following positive preliminary clinical data from its Phase 1/2 study of KB-0742. The restructuring plan, which includes a 19% reduction in force, is expected to extend the company's cash runway into 2026. The company will continue to advance the development of lanraplenib and focus on maturing projects and its Genentech collaboration activities.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:11 pm

SBUX

Starbucks has announced its 'Triple Shot Reinvention with Two Pumps' long-term growth strategy. The details of the strategy were not provided in the article.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:03 pm