Streetbeat News

Corporate Responsibility

MULN

Mullen Technologies, Inc. (MULN) has partnered with the Shoshoni Native American Tribe to pilot its commercial electric vehicles (EVs) at Harrah's Northern California Casino. This partnership aligns with the tribe's commitment to a greener future.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 12:11 pm

BABA

Alibaba Group Holding Limited (NYSE:BABA) stock traded lower as the company decided to retain its stake in Ant Group, declining to participate in a share buy-back plan. The People's Bank of China penalized Alibaba's fintech affiliate by 7.123 billion yuan ($984.33 million) in July, signaling an end to the regulatory crackdown. Alibaba, which holds a 33% stake in Ant Group, exhibited confidence in Ant, likely to encourage other investors to take the long-term view. Alibaba is also looking to overhaul its internal employee ranking system.

Portfolio Pulse from Anusuya Lahiri

July 24, 2023 | 11:40 am

CME

CME Group Inc. plans to terminate about 100 positions, or 3% of its workforce, and reallocate most of those positions to new, cloud-focused technology roles. The overall headcount of the firm will remain the same. The company also announced enhancements to its existing cross-margining arrangement, expected to launch in January 2024.

Portfolio Pulse from Nabaparna Bhattacharya

July 24, 2023 | 11:37 am

BABA

CVX

DPZ

NKLA

NVDA

TSLA

WHR

Cathie Wood's Ark ETF exited from Alibaba and other stocks. Domino's Pizza, Whirlpool and 3 other stocks are to be watched. Tesla reportedly removes Bitcoin as payment option but keeps Dogecoin. Bitcoin's price could skyrocket to $120,000, says analyst. NVIDIA GeForce RTX 4060 Ti 16 GB faces price drop in Europe. Nikola's truck caught fire again. Twitter CEO Linda Yaccarino says X.com will be powered by AI. Chevron CEO to stay put as Q2 earnings impress Wall Street. Bain Capital acquires 90% interest in Adani Capital & Adani Housing.

Portfolio Pulse from Akanksha Bakshi

July 24, 2023 | 10:48 am

SAP

VOD

Vodafone Group Plc's shares are trading higher after its Q1 FY24 trading update. Despite a revenue decline of 4.8% Y/Y to €10.7 billion, organic revenues rose 3.7% Y/Y due to service revenue improvement across most European markets. However, service revenues fell in Germany, Italy, and Spain. UK and Africa saw growth in service revenue. Vodafone reiterated its FY24 adjusted EBITDAaL outlook at about €13.3 billion and adjusted free cash flow guidance at around €3.3 billion. The company also announced the appointment of Luka Mucic as the new CFO and Executive Director, effective September 1, 2023. Mucic previously worked at SAP SE as CFO for around nine years.

Portfolio Pulse from Lekha Gupta

July 24, 2023 | 10:41 am

GIB

CGI plans to invest $1B over the next three years to expand its AI services. The investment will be used for expanding AI-related consulting services, responsible and ethical-use delivery platforms, intellectual property AI-enablement, global employee hiring and training, and operational excellence efficiencies.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 10:36 am

VOD

Vodafone has appointed Luka Mucic as its new CFO, replacing interim CFO Margherita Della Valle.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 9:16 am

NKLA

A Nikola Corp (NASDAQ:NKLA) truck that caught fire last month reignited again at the company's headquarters in Phoenix, Arizona. The company stated that the trucks were at the headquarters for safety monitoring and ongoing investigations. The cause of the fire remains officially 'undetermined', but Nikola's engineering team and a contracted third party are still investigating the incident.

Portfolio Pulse from Anan Ashraf

July 24, 2023 | 6:19 am

CVX

Chevron has waived the mandatory retirement age for its CEO, Mike Wirth, and has appointed Eimear Bonner as CFO, effective from March 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 5:25 am

DOGEUSD

TWTR

Elon Musk has changed his title from 'Chief Twit' to 'Chief Nothing Officer' amid speculations about Twitter's rebranding to X.com. Musk, who acquired Twitter in October 2022, had previously hinted at the app 'X' as an ambitious 'everything app' linked to the $44 billion deal. The iconic bird logo of Twitter is also set to be changed, as confirmed by Musk.

Portfolio Pulse from Ananya Gairola

July 24, 2023 | 1:50 am