Streetbeat News

Corporate Responsibility

AXP

DIS

GOOG

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Google, a subsidiary of Alphabet Inc, is accused of violating its promised ad standards, according to a study by Adalytics. The study claims that Google breaches these standards about 80% of the time, placing ads in small, automatically-played, muted videos that are not the page's primary content and on sites not meeting Google's monetization standards. Brands affected include Johnson & Johnson, American Express Co, Samsung Electronics Co, Sephora, Macy's Inc, and Walt Disney Co. Government agencies like Medicare, the U.S. Army, the Social Security Administration, and the New York City municipal government were also affected.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 7:01 pm

XPOF

Xponential Fitness, Inc. (NYSE:XPOF) has issued a statement in response to a short-seller report, confirming the health and strength of its business operations. The company denounced the report as misleading and inaccurate, and reassured investors of its strong financial results, scalable business model, and strong free cash flow generation. The company also highlighted the strength of its franchise system, its compliance with all debt covenants, and its commitment to ethics, diversity, and inclusion.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 5:15 pm

AMZN

Amazon has filed four lawsuits against entities facilitating fake reviews on its platform. The lawsuits target Nice Discount, Littlesmm, MangoCity, and Reddit Marketing Pro, which allegedly sell fake reviews to Amazon sellers. Amazon has been investing in machine learning models and expert investigators to proactively block fake reviews, blocking over 200 million suspected fake reviews in 2022. The company has taken legal action against 94 fraudsters across the U.S., China, and Europe as of May 2023.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 4:12 pm

EWU

MSFT

OpenAI has announced its first international expansion with a new office in London, UK. The London office will focus on advancing OpenAI's research and engineering capabilities, and will work closely with local communities and policy makers. OpenAI's CEO, Sam Altman, sees this expansion as an opportunity to attract world-class talent and drive innovation in AGI development and policy.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 3:31 pm

RXT

Rackspace Technology (RXT) has appointed its CTO, Srini Koushik, as the global head of its new spin-up, Foundry for Generative AI by Rackspace (FAIR). The move comes as 90% of IT decision-makers surveyed by Rackspace expressed a desire to leverage AI technologies in their cloud modernization efforts. Rackspace aims to accelerate the secure, responsible, and sustainable adoption of generative AI solutions across industries.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 3:07 pm

DIS

NFLX

Netflix Inc (NASDAQ:NFLX) is making a comeback as legacy media companies struggle with mounting costs and a Hollywood writers' strike. The Walt Disney Company is facing a decline in its legacy businesses, a loss-making streaming business, and a slumping share price. Netflix, on the other hand, is seeing a surge in shares and is setting the stage for its next phase of content growth by trimming costs and boosting engagement. The ongoing Hollywood strike could benefit Netflix as it continues to produce international content unaffected by the strike.

Portfolio Pulse from Upwallstreet

June 28, 2023 | 2:52 pm

GOOG

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Google, a subsidiary of Alphabet Inc, has cancelled its next generation Google Glass venture, Project Iris. The company is now focusing on developing the 'Android of AR' platforms. The decision follows the departure of Clay Bavor, Google's then vice president of the Labs division. The remaining AR Labs division will now focus on developing software platforms for future Extended Reality (XR) devices for companies like Samsung Electronics instead of developing its own hardware.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 2:21 pm

BABA

Alibaba Group Holding Limited's founder, Jack Ma, has arrived in Nepal on a business trip. The details of his visit are largely unknown, but he has requested meetings with the Prime Minister and Finance Minister. This comes after Ma's public disappearance following his criticism of China's banks and regulators, and his role in Alibaba's restructuring and management reshuffle. Alibaba's shares traded lower by 2.48% at $84.71 on the last check Wednesday.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 2:03 pm

AMD

BLK

CVX

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GOOG

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MSFT

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NVDA

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SAP

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Several companies are in the news for various reasons. Microsoft has been experiencing cyberattacks from a group linked to Russia. Samsung is gearing up for 2-nanometer chip production, intensifying rivalry with TSMC and Intel. BlackRock owns over 7% of Nvidia stock, capitalizing on the AI surge. Russian oil company Roszarubezhneft seeks control of Venezuelan oil exports amid US sanctions. SAP CEO is bullish on AI. Google plans to downsize the workforce at Waze. Overstock's bid for Bed Bath & Beyond assets receives US judge approval. UK watchdog rules against Hyundai and Toyota over misleading EV charging speed ads. Stellantis launches Free2move charging service for EV users. Chip stocks Nvidia and AMD fall on reports of US adopting stricter stance over China. Spirit AeroSystems and workers union agree on new contract proposal. General Dynamics bags US Army contract to build combat vehicles. General Mills shares fall after mixed Q4 results. Nissan reveals executive committee changes. United CEO blames FAA as storms force more flight cancellations. Hong Kong company takes first AI-generated drug candidate to clinic targeting chronic lung disease.

Portfolio Pulse from Vandana Singh

June 28, 2023 | 1:59 pm

NSANY

RNLSY

Nissan Motor Co Ltd has announced executive committee changes effective from July 1, 2023, to accelerate its Nissan NEXT progress. The changes include the departure of Chief Operating Officer Ashwani Gupta and the addition of Operations Performance to CFO Stephen Ma's responsibilities. The chairpersons of the regional management committees will become members of the executive committee and report directly to CEO Makoto Uchida. Gupta had reportedly clashed with Uchida over negotiations with Renault SA.

Portfolio Pulse from Shivani Kumaresan

June 28, 2023 | 1:37 pm