Streetbeat News

Corporate Responsibility

TSLA

Tesla's humanoid robot, Optimus, has demonstrated impressive yoga abilities and autonomous object-sorting capabilities. The robot is integrated into Tesla's end-to-end neural network, the same one used by its cars for video processing and control output generation. However, safety concerns have been raised, with Elon Musk assuring that Tesla will prioritize safety and make it easy to pause Optimus using a remote or a phone, with no centralized override. Tesla unveiled Optimus approximately two years ago and has reportedly produced about ten units. The initial Optimus robot equipped with all Tesla-designed actuators and capable of walking is slated for completion around November.

Portfolio Pulse from Ananya Gairola

September 25, 2023 | 1:59 am

ADDYY

DIS

NFLX

WBD

The CEOs of Walt Disney (DIS), Warner Bros. Discovery (WBD), Netflix (NFLX), and NBCUniversal are monitoring negotiations with guild representatives. A 'best and final' offer was presented to the Writers Guild of America (WGA) negotiators, potentially ending the nearly five-month-long writers strike. Meanwhile, Disney and other theme park operators are looking forward to the fall with optimism after a lukewarm summer. Netflix is preparing to close its DVD-by-mail service, and Adidas (ADDYY) CEO Bjørn Gulden defended Ye, formerly known as Kanye West, over his antisemitic remarks.

Portfolio Pulse from Anthony Noto

September 24, 2023 | 6:07 pm

F

Unifor members have ratified a new three-year collective agreement with Ford of Canada. The agreement covers more than 5,600 workers at Ford facilities in Canada. The agreement was approved with a 54% vote in favor.

Portfolio Pulse from Charles Gross

September 24, 2023 | 5:56 pm

AAPL

Apple Inc.'s newly launched FineWoven iPhone cases, marketed as sustainable alternatives to traditional leather cases, have been met with widespread criticism from users and tech reviewers. The cases have been criticized for their susceptibility to scratches, dust accumulation, and a prematurely worn look. Despite Apple's claims that the cases are made from 'durable microtwill' with 68% recycled material, the overall sentiment remains skeptical about the product's long-term durability.

Portfolio Pulse from Bibhu Pattnaik

September 24, 2023 | 4:51 pm

COTY

IPAR

LRLCF

ULTA

L'Oréal Co. (OTC:LRLCF) (OTC:LRLCY) is undergoing significant transformations under its CEO, Nicholas Hieronimus, who projects the beauty market to reach $426.8 billion by 2030. The company is integrating advanced technology and investing over $1 billion annually in beauty tech. L'Oréal is also committed to sustainability and plans to use 100% recycled plastic by 2030. Other beauty stocks with upward potential include Coty Inc. (NYSE:COTY), Ulta Beauty, Inc. (NASDAQ:ULTA), and Inter Parfums Inc (NASDAQ:IPAR).

Portfolio Pulse from Nabaparna Bhattacharya

September 23, 2023 | 8:20 pm

WFC

Wells Fargo & Co. (NYSE:WFC) is seeking to attract hundreds of independent advisors to join its platform as part of a broader strategy aimed at expanding the firm's services catering to affluent customers. This follows a turnaround effort costing nearly $1 billion over three years. The bank's wealth division had previously suffered from a string of scandals leading to a mass exodus of advisors and their wealthy clients.

Portfolio Pulse from Benzinga Neuro

September 23, 2023 | 7:26 pm

PLTR

Palantir Technologies CEO, Alex Karp, has expressed mixed views on the company's continued use of SpaceX's Starlink service, despite Elon Musk's perceived pro-Putin stance. Palantir has been providing software and services to Ukraine in its conflict with Russia. Karp stated that he would use the best products available to help allies and hurt adversaries, regardless of personal disagreements. Musk has responded to the comments, denying the accusations and stating his support for Ukraine.

Portfolio Pulse from Shanthi Rexaline

September 23, 2023 | 4:33 pm

F

GM

LCID

TSLA

Elon Musk, CEO of Tesla Inc, has criticized the compensation of General Motors Co. CEO Mary Barra, suggesting it should be proportionate to success. This follows a similar comment about Lucid Group Inc. CEO Peter Rawlinson's salary. Musk's comments were in response to a social media user who claimed Barra has created no value for GM's shareholders. GM's shares have dropped 3.7% year-to-date. Musk, who took no salary in 2022, holds shares in Tesla and options that grant him the right to purchase more at a fraction of the price if the company hits particular financial targets.

Portfolio Pulse from Anan Ashraf

September 23, 2023 | 6:45 am

GT

Goodyear Tire & Rubber Co has proposed a plan to change its operating model to a third-party distribution and retail sales model, moving away from its co-owned approach, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:42 pm

GT

Goodyear Tire & Rubber Co has approved a rationalization plan in the Asia Pacific to improve profitability in its Australia and New Zealand operations. The proposed plan will lead to a reduction of approximately 700 positions.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:39 pm