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QCOM

Qualcomm's President & CEO, Cristiano Amon, highlighted the potential of AI for use in enterprise, industrial, and retail sectors during a keynote speech. He emphasized that enabling generative AI on-device will help accelerate adoption everywhere and optimize rising cloud infrastructure cost.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 3:11 pm

FREY

FREYR Battery has been awarded a €100M grant from the EU Innovation Fund to support the development of its Giga Arctic Project in Norway.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 3:07 pm

MGPI

MGP Ingredients Inc (NASDAQ:MGPI) plans to close its distillery in Atchison, Kansas by January 2024. The distillery produces grain neutral spirits and industrial alcohol products. The closure is part of the company's strategy to address profitability issues in its Distilling Solutions segment. MGP will continue to operate and invest in its Ingredient Solutions business in Atchison, Kansas and its distillery operations in Lawrenceburg, Indiana.

Portfolio Pulse from Shivani Kumaresan

July 13, 2023 | 2:57 pm

ADBE

AMZN

GOOG

HYMTF

MDT

META

PEP

SONY

TSLA

VSAT

XOM

Several companies have made significant announcements. Meta Platforms is preparing to launch a commercial version of its AI model, competing with Microsoft and Alphabet. Viasat shares dropped after an unexpected event during satellite deployment. The UK's CMA is investigating Adobe's $20B acquisition of Figma. PepsiCo reported better than expected Q2 earnings. Exxon Mobil is acquiring Denbury for $4.9B. Hyundai's Kia is investing $200M in a Georgia facility. Medtronic is facing a whistleblower lawsuit alleging a bribery scheme. The FDA is reviewing an energy drink founded by YouTube stars. Google is launching its AI chatbot, Bard, in Europe and Brazil. The NLRB filed a complaint against Amazon. Tesla plans to sell a $1,670 electric quad bike for children in China. JD.com is developing AI applications. Carlyle Group and Trustar Capital plan to exit part of their stakes in McDonald's China. Sony is ramping up R&D spending in its game business.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 2:10 pm

DEN

XOM

Exxon Mobil Corp (XOM) has announced a deal to acquire Denbury Inc (DEN) for $4.9 billion, which will boost its Low Carbon Solutions business. The acquisition will give XOM ownership of the largest CO2 pipeline network in the U.S. and DEN's Gulf Coast and Rocky Mountain oil and natural gas operations. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 1:33 pm

WAVE

Eco Wave Power has received a grant from the European Union for its new wave energy power station in Jaffa Port, Israel. The size of the grant was not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 1:28 pm

UDMY

Udemy (NASDAQ:UDMY) has appointed Sohaib Abbasi as Independent Chair of its Board of Directors, succeeding Jeff Lieberman. Abbasi brings over 30 years of industry experience, having served as CEO of Informatica and held various roles at Oracle Corporation. He currently serves as Vice Chairman of Elastic Software and Chairman of Forecast.app, and has previously served on the boards of Red Hat, McAfee, and New Relic.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:25 pm

WRAP

Wrap Technologies' BolaWrap device has been successfully utilized by the Hillsborough County Sheriff's Office. The device, designed for non-lethal restraint of suspects, has been praised for its effectiveness.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 1:06 pm

INTA

David Morton has been appointed as the new Chief Financial Officer of Intapp, a leading provider of cloud-based software for the global professional and financial services industry.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 1:00 pm

AZRE

Azure Power Global Limited (AZRE) has announced a change in its independent registered public accounting firm. The company's board has approved the appointment of ASA & Associates LLP as the new accounting firm, following the resignation of S.R. Batliboi & Co. LLP. Additionally, MSKA & Associates, a member firm of BDO International, has been proposed as the statutory auditors of certain subsidiary companies for Fiscal 2022.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:00 pm