Streetbeat News

Corporate Responsibility

F

GM

TSLA

The U.S. Department of the Treasury and IRS released final rules on the clean vehicle provisions of the Inflation Reduction Act, aiming to lower consumer costs, boost U.S. manufacturing in batteries and clean vehicles, and strengthen energy security. The rules include up to $7,500 in credits for new clean vehicles and up to $4,000 for previously-owned clean vehicles, with over $700 million in upfront savings for consumers so far. The regulations also detail critical mineral content requirements and restrictions on Foreign Entities of Concern to ensure supply chain resilience.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 5:44 pm

FTEC

MSFT

XLK

Microsoft Corp (NASDAQ:MSFT) has linked executive compensation to cybersecurity milestones, emphasizing security over new features. This move follows criticism for past security breaches and introduces the Secure Future Initiative, a major security effort. Despite a critical government report on its security culture, Microsoft's recent revenue growth and bullish analyst outlook, particularly for Azure and OpenAI, highlight its strong market position. Microsoft stock has seen a 33% increase over the past year, with exposure also possible through ETFs like XLK and FTEC.

Portfolio Pulse from Anusuya Lahiri

May 03, 2024 | 5:09 pm

APO

PARA

PARAA

SONY

Paramount Global's shares surged as Sony and Apollo Global Management proposed a $26 billion bid, while Skydance Media's merger talks may end without renewal. Shari Redstone, controlling shareholder, plays a crucial role in any deal decision. A Sony-Apollo deal promises a premium for shareholders, whereas a Skydance merger could dilute their stakes. Paramount's CEO, Bob Bakish, stepped down amid these developments, adding to the company's volatility.

Portfolio Pulse from Chris Katje

May 03, 2024 | 5:02 pm

PTON

Peloton shares are trading higher following the announcement of a CEO transition and a 15% reduction in global headcount.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 3:42 pm

AAPL

Elon Musk, CEO of Tesla Inc. and xAI founder, responded to tech YouTuber Marques Brownlee (MKBHD) on X, critiquing Apple Inc.'s Siri for its performance. This exchange follows Apple's Q2 2024 earnings call, where dissatisfaction with Siri was highlighted, despite CEO Tim Cook's optimism about AI developments. Apple plans to unveil Siri 2.0 with generative AI capabilities at its Worldwide Developers Conference (WWDC) in June, as part of iOS 18, aiming to significantly enhance its AI strategy.

Portfolio Pulse from Rounak Jain

May 03, 2024 | 1:32 pm

CGC

Canopy Growth Corporation (CGC) has announced a financing deal with an institutional investor to receive approximately $50 million in gross proceeds and exchange about $20 million of existing debt for a new convertible debenture. The deal includes issuing additional common share purchase warrants and aims to use the proceeds for working capital and general corporate purposes. This move is part of Canopy's strategy to accelerate its entry into the U.S. market, following shareholder approval for the spin-out of Canopy USA.

Portfolio Pulse from Jelena Martinovic

May 03, 2024 | 1:31 pm

DJT

The SEC has charged audit firm BF Borgers and its owner with committing a massive fraud that impacted over 1,500 SEC filings. The allegations suggest that the firm and its owner engaged in deceptive practices that significantly affected the integrity of financial disclosures and compliance with SEC regulations. This case highlights the importance of audit quality and the potential consequences of audit failures on the broader financial reporting ecosystem.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:27 pm

PARA

Skydance Media will not extend its exclusivity agreement with Paramount Global (PARA), as reported by CNBC. This development could impact Paramount's future content pipeline and its competitive position in the entertainment industry.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:22 pm

RIVN

Rivian shares are trading higher following the appointment of Javier Varela as Chief Operations Officer.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:13 pm

GPRE

During a conference call, the CEO of Green Plains stated that the company is still evaluating its strategic options. This indicates ongoing considerations that could involve partnerships, divestitures, acquisitions, or other significant corporate actions.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:13 pm