Streetbeat News

Corporate Responsibility

GRPH

Graphite Bio has announced a reduction in its workforce by approximately 70% and is exploring strategic alternatives. Additionally, Josh Lehrer has departed as CEO effective as of August 21, 2023, according to a filing.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 8:35 pm

NVDA

Jensen Huang, the CEO of Nvidia, has announced that a new computing era has begun, with companies worldwide transitioning from general-purpose to accelerated computing and generative AI.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 8:22 pm

STLA

Stellantis has completed an agreement with AGI to support the electrification and EV charging capabilities of its U.S. dealership network. AGI will provide turnkey infrastructure solutions to help dealers build out electric vehicle supply equipment (EVSE) for charging. This move is part of Stellantis' Dare Forward 2030 strategy to achieve 50% battery-electric vehicle sales by the end of this decade. Stellantis is also part of a joint venture with six other leading automakers to accelerate the transition to electric vehicles in North America.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 3:09 pm

AGR

Avangrid has announced its first photovoltaic project in California, Camino Solar, which is expected to be commercially operational in 2025. The 57 MWdc project will generate enough electricity to equal taking more than 20,000 cars off the road and will create 100 jobs. It is also expected to generate $15.5M in local taxes during its lifetime.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 3:03 pm

DLTR

The U.S. Department of Labor has announced a corporate-wide settlement agreement with Dollar Tree and Family Dollar to address safety and health hazards at their stores across the U.S. The companies have agreed to conduct a comprehensive assessment of the root causes of the violations and make operational changes to correct them within a two-year period. They have also agreed to pay $1.35 million in penalties. The agreement covers all Dollar Tree and Family Dollar stores within federal OSHA jurisdiction and may last up to two years.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 1:42 pm

APLS

Apellis Pharmaceuticals Inc (NASDAQ:APLS) released an update on its Syfovre treatment for geographic atrophy, including information about injection kits and rare events of retinal vasculitis associated with the treatment. The company has identified structural variations in a component of the injection kits but found no direct link to the rare retinal vasculitis. Apellis advises practitioners to discontinue using certain injection kits and has transitioned to distributing kits with a different filter needle. Despite over 100,000 vials being distributed, the incidence of these events remains very low.

Portfolio Pulse from Vandana Singh

August 23, 2023 | 1:31 pm

BABA

TCEHY

Alibaba Group Holding Limited (NYSE:BABA) is focusing on improving the efficiency of its units and maintaining a good relationship with the Chinese government. Its Taobao Tmall Commerce Group is establishing a logistics department to manage deliveries better. Alibaba's fintech affiliate Ant Group is regaining government favor by highlighting its payment service Alipay's role in the success of the Asian Games. Ant is also working to enhance the payment experience for foreign tourists in Hangzhou, the birthplace of Alibaba and Ant.

Portfolio Pulse from Anusuya Lahiri

August 23, 2023 | 12:45 pm

FVRR

Fiverr International Ltd. (NYSE:FVRR) CEO, Micha Kaufman, has expressed support for a ruling by DC District Court Judge Beryl A. Howell that AI-generated work without human intervention cannot be granted copyright protection. Fiverr's platform is built on human collaboration, with every project involving direct interaction and input from human creators. Kaufman believes that while AI can augment and accelerate creative processes, it cannot replicate the depth of human insight that fuels artistic expression.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 12:22 pm

MNK

Mallinckrodt Plc and some of its subsidiaries have entered into a restructuring support agreement with creditors. This move is likely to impact the company's financial structure and debt management.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 12:19 pm

PATH

UiPath's Automation Cloud has achieved a 2-year HITRUST Risk-Based certification, demonstrating a high level of information protection assurance.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 12:04 pm