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Corporate Responsibility

UBER

Uber Technologies (NYSE:UBER) reported Q2 revenue of $9.23 billion, missing the expected $9.33 billion. However, the company achieved two financial milestones: free cash flow exceeding $1 billion and a GAAP operating profit for the first time. Uber's revenue rose 14% YoY, with a net income of $394 million. The company's CFO, Nelson Chai, is set to leave in January 2024. Uber also provided a positive Q3 guidance, exceeding StreetAccount’s estimates.

Portfolio Pulse from Upwallstreet

August 04, 2023 | 9:13 am

PCRFY

QS

WDC

QuantumScape Corp has appointed Dr. Siva Sivaram, President of Western Digital Corp, to the newly created role of President. Dr. Sivaram will lead QuantumScape's technology and manufacturing groups as the company transitions from R&D to production. QuantumScape recently announced it shipped updated prototype unit cells to automotive customers and completed equipment installation for its new fast separator production process.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 9:08 am

TSLA

Tesla Inc is seeking nearly $100 million from the U.S. government to construct nine charging stations for its electric semi-trucks along a route from southern Texas to northern California. Each station will be equipped with eight 750-kilowatt chargers specifically designed for Tesla Semi vehicles and four chargers compatible with trucks produced by other manufacturers.

Portfolio Pulse from Benzinga EV Insights

August 04, 2023 | 9:07 am

WISH

ContextLogic Inc. has announced a plan to refocus its operations to support ongoing business prioritization efforts, better align resources, and improve operational efficiencies, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 3:00 pm

CVS

CVS Health Corp is planning to cut approximately 5,000 jobs, mainly in corporate positions, to reduce costs and focus more on healthcare services. The company is implementing various measures such as cutting travel expenses, reducing dependence on consultants and vendors, and leveraging technology to enhance productivity. The layoffs will not affect customer-oriented roles in stores, pharmacies, and clinics.

Portfolio Pulse from Vandana Singh

August 01, 2023 | 2:50 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) has hired Puneet Chandok, previously of Amazon Web Services, as Corporate Vice President of Microsoft India and South Asia, effective from September 1, 2023. Chandok will oversee the integration of Microsoft's businesses across South Asia and aims to boost the company’s presence in the region with a customer-centric approach and generative AI at its core.

Portfolio Pulse from Benzinga India Staff

August 01, 2023 | 2:48 pm

BRLT

Brilliant Earth Group, Inc (NASDAQ:BRLT) has launched two new collections of lab-grown diamonds, produced using carbon capture and renewable energy technologies. The diamonds are created from atmospheric carbon, using unique sequestration technology to pull the CO2 from the air and transform it. The company's manufacturers have been audited to ensure they meet Brilliant Earth's Supplier Code of Conduct, which includes safe and healthy working conditions for all employees. The launch is part of Brilliant Earth's ESG leadership strategy.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 2:42 pm

GOOG

GOOGL

Google, a subsidiary of Alphabet Inc., is set to upgrade its Google Assistant with artificial intelligence (AI), which may lead to job cuts within the team. The new AI-powered Google Assistant is expected to be more efficient and competitive, and will coexist with the old version during the transition period. The move is seen as a response to competition from rivals like Samsung's Bixby and Bing Chat.

Portfolio Pulse from Rounak Jain

August 01, 2023 | 2:09 pm

MAMA

MamaMancini's has announced a corporate name change to Mama's Creations and a ticker change to MAMA. The name change reflects the company's evolution into a national deli prepared foods platform. The common shares will trade on the Nasdaq Capital Market under the new ticker symbol from tomorrow.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 1:59 pm

BABA

NVDA

Alibaba Group Holding Limited's stock is trading lower due to a contraction in China's official manufacturing purchasing managers' index (PMI) for a fourth month. The company is also undergoing a corporate restructuring and has invested in agriculture-related technology. Alibaba and its Chinese peers are vulnerable to potential U.S. sanctions on the semiconductor industry. U.S. chipmaker Nvidia Corp, known for its AI chips, has a sizable exposure to China.

Portfolio Pulse from Anusuya Lahiri

August 01, 2023 | 12:47 pm