Streetbeat News

Corporate Responsibility

META

Meta Platforms Inc's CFO, David Wehner, announced that the company plans to hire more technical talent. This move is part of the company's strategy to invest in technology and product development.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 4:38 pm

MCOM

Micromobility.Com CEO Salvatore Palella has conducted a Twitter poll asking for public opinion on whether he should continue as CEO or if it's time for fresh leadership. The company's shares are moving higher.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 3:39 pm

AMZN

GOOG

META

MSFT

OpenAI, Anthropic, Alphabet Inc, and Microsoft Corporation have announced the creation of the 'Frontier Model Forum', an industry group committed to promoting the safe and responsible development of frontier AI systems. The forum aims to advance AI safety research, establish best practices and standards, and facilitate knowledge sharing among policymakers and industry players. This follows a commitment made by seven tech companies, including Alphabet, Amazon.com Inc, Microsoft, Meta Platforms Inc, OpenAI, Anthropic, and Inflection, to adhere to voluntary guidelines aimed at mitigating risks associated with AI.

Portfolio Pulse from AJ Fabino

July 27, 2023 | 3:22 pm

WTRG

Essential Utilities Inc. (NYSE:WTRG) has announced that its subsidiary, Aqua Pennsylvania, has completed the acquisition of the Municipal Authority of the Borough of Shenandoah (MABS) water system for $12 million. MABS, which serves around 3,000 customers, has been dealing with frequent outages and main leaks, with water loss estimated at 60%. Essential plans to invest over $23 million in MABS over the next 10 years, including $10 million to replace water mains. This acquisition is part of Essential's strategy to grow by investing in infrastructure that delivers clean, safe, and reliable natural resources.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 3:08 pm

RCL

Royal Caribbean's executive stated in a conference call that the North American consumer base remains strong. The company also noted an increase in volumes from European consumers looking to book their summer vacations, indicating the strength of the company's brands.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 2:14 pm

AMZN

Amazon has cut hundreds of zone lead positions at its Amazon Fresh grocery stores as part of a cost reduction plan. The layoffs come amid a year of job cuts in the tech industry, with Amazon having laid off 27,000 workers in 2023. Despite innovations, Amazon Fresh has faced challenges attracting customers. The company is reevaluating its expansion and cutting costs, including layoffs in various divisions and projects.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:31 pm

SXT

Sensient Technologies Corporation (NYSE:SXT) announced the retirement of Craig Mitchell, President of Flavors & Extracts Group, effective January 1, 2024. Steve Morris, currently the General Manager, Sweet & Beverage Flavors North America, will succeed Mitchell. Morris has been with Sensient since 2007 and has held various roles within the company. The transition will be carried out over the coming months.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 1:19 pm

ANSS

Ansys (NASDAQ: ANSS) is expanding its AI capabilities with the beta launch of AnsysGPT, a virtual assistant that provides 24/7 technical support and reduces response times. The assistant is built using ChatGPT technology and trained with Ansys public data. It is expected to be fully released in early 2024, providing easily accessible technical support through the Ansys website.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 1:11 pm

AMZN

OXY

Occidental (NYSE:OXY), an international energy company, has selected Amazon Web Services (AWS), a subsidiary of Amazon.com, Inc. (NASDAQ:AMZN), as its preferred cloud provider. The multiyear agreement will see Occidental migrate its core production applications and IT infrastructure to AWS to improve operational efficiencies and support the development of systems for carbon removal. AWS will also work with Occidental and its subsidiary 1PointFive to develop systems architecture for large-scale direct air capture plants.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 1:08 pm

CUTR

Cutera, Inc. (NASDAQ:CUTR) has announced the appointment of Taylor Harris as its new CEO, effective from August 7, 2023. Harris, who has over 20 years of experience in the healthcare industry, will succeed Sheila Hopkins, the current Interim CEO. Harris previously served as the CFO of MyoKardia and ZELTIQ Aesthetics, and has been a member of Cutera's Board since June 2023.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 1:08 pm