Streetbeat News

Corporate Responsibility

HAP

HJEN

SHEL

Shell plc plans to divest the majority of its shareholding in its South African downstream unit, SDSA, following a comprehensive review of its global businesses. The decision aims to reshape Shell's downstream portfolio. Despite the divestiture, Shell intends to maintain SDSA's operational capabilities and brand presence during the sale process. Shell, with over a century of presence in South Africa, continues to explore offshore opportunities in the country amidst environmental opposition. Additionally, Shell is in discussions to sell its gas station business in Malaysia to Saudi Aramco. Shell's stock has seen a ~19% increase over the past year, and it is featured in the Direxion Hydrogen ETF (HJEN) and VanEck Natural Resources ETF (HAP).

Portfolio Pulse from Lekha Gupta

May 06, 2024 | 6:03 pm

SPY

Citadel's CEO Ken Griffin expressed his hope for having two great presidential candidates in 2028, indicating a focus on the future political landscape.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:53 pm

SNPS

Synopsys Inc (NASDAQ:SNPS) has agreed to sell its Software Integrity Group business to Clearlake Capital Group, L.P. and Francisco Partners for up to $2.1 billion. The transaction includes up to $475 million in cash, contingent on the buyers achieving a specified return rate. This sale will allow Synopsys to concentrate on its core business of silicon and systems engineering, particularly in the AI-driven era. The Software Integrity Group will become an independent entity focused on application security testing, led by its current management. The deal is expected to close in the second half of 2024.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 5:53 pm

EIS

ISRA

SPY

USO

The U.S. State Department expressed significant concern over Israel's shutdown of the Al Jazeera network, emphasizing that Al Jazeera should be allowed to operate in Israel. Additionally, the U.S. confirmed that Hamas has issued a response to a hostage deal, which the U.S. plans to discuss with allies shortly.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:51 pm

INTC

MU

The Biden administration's $280 billion CHIPS and Science Act aims to advance semiconductor technology by focusing on digital twins and establishing the CHIPS Manufacturing USA institute. This initiative will foster collaboration and resource-sharing among companies like Intel and Micron, which are among the beneficiaries of the act. The act supports the development of physical semiconductors and their virtual representations, enhancing innovation and training for the American workforce in this sector.

Portfolio Pulse from Franca Quarneti

May 06, 2024 | 5:46 pm

SPY

Citadel's CEO Ken Griffin emphasized the need for a comprehensive review and reform of the Social Security system to ensure its sustainability and effectiveness for the American populace.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:41 pm

AMD

INTC

MU

NVDA

The Biden-Harris Administration announced a $285M funding opportunity for a CHIPS Manufacturing USA institute to develop digital twins technology for the semiconductor industry. This initiative, part of the 2022 Chips and Science Act, aims to advance U.S. chip technology and reduce dependence on international supply chains. Leading chipmakers like Nvidia, AMD, Intel, and Micron are involved, with Intel in talks for over $10B in subsidies and Micron signing a PMT for $6.1B in funding.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 5:41 pm

C

On CNBC, Citi CEO Jane Fraser provided insights into the current state of the consumer, offering valuable perspectives for investors and market watchers.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:16 pm

NSC

Key regulators, including the U.S. Department of Transportation (DOT) and the Surface Transportation Board (STB), have expressed support for Norfolk Southern Corporation's (NYSE: NSC) leadership and strategy, emphasizing the company's focus on safety and service. They have raised concerns about Ancora's plan for NSC, warning it could jeopardize safety and service. The DOT and STB's statements highlight Norfolk Southern's progress in safety and service improvements, while criticizing Ancora's approach and potential impact on the railroad's performance and the broader economy.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:05 pm

RKT

Rocket Cos. has appointed Shawn Malhotra, a former Thomson Reuters executive, as its new Chief Technology Officer (CTO) to lead its companywide artificial intelligence (AI) efforts. This strategic move aims to unify and accelerate Rocket's AI initiatives across its portfolio, including Rocket Mortgage, Rocket Homes, and Rocket Money. Malhotra's role will focus on data science, product engineering, technology operations, and information security, with a primary emphasis on AI to enhance the home-buying experience. The appointment follows the departure of Rocket Mortgage's CIO, Brian Woodring, and is part of Rocket's broader strategy to integrate technology into its core operations.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:03 pm