Streetbeat News

Corporate Responsibility

VLO

Valero Energy announced the expected startup of its Diamond Green Diesel project, aimed at producing sustainable aviation fuel, in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:27 am

CX

Cemex, through its subsidiary Cemex Asia B.V., has agreed to sell its operations in the Philippines to DACON Corporation, DMCI Holdings, Inc., and Seminara Mining & Power Corporation. The sale includes 100% equity interest in Cemex Asian South East Corporation, which owns about 89% of Cemex Holdings Philippines, Inc. (CHP), and a 40% indirect equity interest in APO Land & Quarry Corporation and Island Quarry and Aggregates Corporation. The transaction is part of Cemex's strategy to rebalance its portfolio, with proceeds aimed at funding growth investments and reducing debt.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:18 am

AMZN

Amazon Inc. (NASDAQ:AMZN) has announced it will pause new U.S. Green Card sponsorships for foreign workers through 2024, extending an initial halt started in 2023. This decision comes amid layoffs and a focus on cost-cutting and investment in artificial intelligence. The PERM process, essential for Green Card applications, has become more complex due to the need to prove laid-off employees cannot fill positions intended for foreign workers.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 10:16 am

WNS

WNS Holdings Limited announced Arijit Sen as the new CFO, effective July 25, 2024, replacing Sanjay Puria who is stepping down for family reasons. Puria will stay in an advisory role until April 24, 2025, to aid in a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:04 am

AAPL

Frank Casanova, the lead marketer for Apple Inc.'s Vision Pro headset, has retired after 36 years with the company, amid a significant drop in demand for the headset. The Vision Pro, launched in early February with a base price of $3,499, has seen its shipment forecasts revised down from 700,000-800,000 units to 400,000-450,000 units for this year due to falling demand. This comes as Apple faces challenges in the Chinese market, not only with the Vision Pro but also with a 33% drop in iPhone sales in February compared to the previous year.

Portfolio Pulse from Ananya Gairola

April 25, 2024 | 9:58 am

TSLA

XPEV

Xpeng Inc.'s Vice Chairman, Brian Gu, expressed skepticism about the near-term commercial viability of robotaxis, suggesting a timeline of more than five years, contrary to Tesla Inc.'s more optimistic projections. Gu's comments were made at the Beijing auto show, highlighting the difference in expectations between the two companies regarding the future of autonomous driving technology. Despite the skepticism, there's acknowledgment of the technological advancements in China, with companies like Baidu Inc. and Pony.ai making progress in driverless taxis.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 9:53 am

MU

Micron Technology has signed a preliminary memorandum with the Biden-Harris Administration for $6.1B in funding under the CHIPS and Science Act. This funding will support Micron's $50B investment in U.S. memory manufacturing in Idaho and New York through 2030, including the construction of three leading-edge memory fabs.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 9:36 am

AAPL

META

Mark Zuckerberg, CEO of Meta Platforms Inc. (META), criticized Apple Inc.'s (AAPL) Vision Pro, suggesting a preference for augmented reality (AR) glasses with more functionality, like Meta's Ray-Ban smart glasses. He highlighted the potential of AR glasses without full holographic displays, emphasizing the growing platform of Meta's smart glasses. Despite the competition from Apple's Vision Pro, Zuckerberg has consistently promoted Meta's Quest VR headset as superior. Apple's Vision Pro has reportedly faced demand challenges, leading to a significant cut in shipment forecasts.

Portfolio Pulse from Rounak Jain

April 25, 2024 | 9:31 am

HYMTF

Hyundai Motor Group's Executive Chair Euisun Chung visited India to discuss the company's mid- to long-term mobility strategies, aiming to solidify its position as a leading mobility provider. The group plans to increase Hyundai Motor India's annual production to one million units by 2025 and, combined with Kia India, reach a total annual production capacity of 1.5 million units. The visit also focused on expanding the electrification strategy to strengthen leadership in the Indian EV market, including increasing local EV production and creating an EV ecosystem. A town hall meeting was held to share visions and strengthen trust with employees, attended by approximately 400 local employees in person and over 3,000 via video.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:18 am

NVDA

Nvidia Corp. CEO Jensen Huang personally delivered the first DGX H200 GPU to OpenAI, symbolizing the strong partnership between Nvidia and OpenAI. The donation of the H200 GPU, announced alongside the GB200 AI super chip in March, is aimed at advancing AI, computing, and humanity. The H200 GPU is a significant upgrade over its predecessor, offering 1.8 times the memory and 1.4 times the bandwidth, while the GB200 AI superchip is vastly faster than the DGX-1 supercomputer donated in 2016.

Portfolio Pulse from Rounak Jain

April 25, 2024 | 6:32 am