Streetbeat News

Corporate Responsibility

BABA

Alibaba Group Holding Ltd (BABA) has completed its CEO transition from Daniel Zhang to Eddie Wu, according to an internal letter cited by Reuters.

Portfolio Pulse from Charles Gross

September 10, 2023 | 2:49 pm

AAPL

CHTR

DIS

A recent article by Dan Kois criticizing comedian Martin Short has sparked backlash on social media. In other news, speculation has resurfaced about Apple Inc. potentially acquiring Disney to fulfill Bob Iger's 'end game'. A new report also details a rift between Iger and former Disney CEO Bob Chapek over office amenities. Disney is also reportedly in disputes with Florida Governor Ron DeSantis and Charter Communications CEO Chris Winfrey.

Portfolio Pulse from Anthony Noto

September 09, 2023 | 9:46 pm

GOOGL

An internal document from Google (NASDAQ:GOOGL) has revealed the company's compensation structure across various positions and demographics in the U.S. The data, provided by a substantial number of employees in 2022, showed a range in earnings based on metrics such as position, location, race, and gender. The median cumulative compensation for Google personnel in 2022 was $279,802. High-ranking software engineers reported total earnings surpassing the $1 million mark.

Portfolio Pulse from Bibhu Pattnaik

September 09, 2023 | 2:10 pm

AAPL

ADBE

MSFT

Apple Inc. has publicly supported a California Senate bill that mandates companies with annual revenue of over $1 billion to disclose independently verified data on their greenhouse gas emissions. Earlier this year, Adobe, Ikea, and Microsoft Corporation also backed the bill, emphasizing the requirement for corporations to measure and report indirect emissions linked to their supply chains and end-users.

Portfolio Pulse from Benzinga Neuro

September 09, 2023 | 9:22 am

GOOG

MSFT

TSLA

Elon Musk reportedly attempted to merge OpenAI with Tesla Inc. (NASDAQ:TSLA) but was unsuccessful in convincing Sam Altman and the team. At the time, Tesla was aggressively ramping up its AI development efforts. OpenAI, however, resisted the merger proposal. OpenAI later made waves in the AI community by releasing ChatGPT, triggering an AI arms race among major tech players, including Alphabet Inc.‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google and Microsoft Corporation‘s (NASDAQ:MSFT). Musk later launched his own AI venture, xAI.

Portfolio Pulse from Ananya Gairola

September 09, 2023 | 9:15 am

NKLA

Nikola Corp (NASDAQ:NKLA) has experienced its second truck fire incident this week and the fourth this year. The latest fire occurred during a battery fire investigation and testing. Last month, Nikola recalled all its battery-powered electric trucks after a series of fires were traced to a coolant leak within the battery packs. The company is working with customers and dealers to get their trucks to its Arizona manufacturing facility for repairs.

Portfolio Pulse from Anan Ashraf

September 09, 2023 | 3:39 am

SPCE

Elon Musk is facing criticism from Ukraine for barring access to Starlink, a part of SpaceX, during a critical Ukrainian offensive against Russia last year. Musk stated that he did not want to be complicit in a major act of war and conflict escalation. On the other hand, Russia is praising Musk’s decision. The incident has been significant in the war in Ukraine, aiding Ukraine’s advances, though they have been curtailed by Musk’s insistence that it not be used for offensive operations into Russia.

Portfolio Pulse from Navdeep Yadav

September 09, 2023 | 3:22 am

REGN

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) announced that its CFO, Robert E. Landry, will retire in February 2024. He will be succeeded by Christopher Fenimore, the current Senior Vice President, Head of Accounting and Controller at Regeneron. Fenimore has been with the company since 2003 and holds global responsibility for U.S. SEC reporting, accounting operations, and is co-leading the company's international expansion strategy.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 9:02 pm

DIS

A report has detailed a rift between Bob Iger and former Disney CEO Bob Chapek, including a disagreement over office space. Iger, who returned to the CEO role in November 2022, has admitted that picking Chapek as his successor was a mistake. Under Iger's leadership, Disney saw strong stock performance and completed acquisitions of Marvel, Pixar, and Lucasfilm. However, Chapek's tenure was marked by disappointing returns and controversies. With Chapek out of the picture, Iger is now in full control of the company. Disney shares have hit 10-year lows and there are speculations about potential sell-offs of non-core business segments or a possible acquisition by a larger company like Apple.

Portfolio Pulse from Chris Katje

September 08, 2023 | 8:40 pm

SMTC

Semtech Corporation (NASDAQ:SMTC) has appointed Mark Lin as its new executive vice president and chief financial officer, effective no later than October 4, 2023. Lin, who has extensive experience in public company capital structure, governance, financial planning and analysis, and mergers and acquisitions, is expected to help Semtech navigate a dynamic business future. Lin previously served as vice president and corporate controller of MKS Instruments, Inc. and held various roles at Microsemi Corporation.

Portfolio Pulse from Happy Mohamed

September 08, 2023 | 8:16 pm