Streetbeat News

Corporate Responsibility

ALB

Albemarle Corporation has announced a $1 million donation to Cleveland Community College for equipment, supplies, and facility improvements aimed at enhancing workforce training programs.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:51 am

TMQ

Trilogy Metals announced that the Alaska Industrial Development and Export Authority (AIDEA) issued a press release addressing media reports about their Ambler Access Project. The press release aims to clarify and respond to the information circulating in the media regarding the project.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:41 am

ESPO

NERD

TTWO

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) announced a workforce reduction of 5% as part of a cost reduction program, aiming to enhance its margin profile while still investing for growth. The company expects to incur $160 million to $200 million in total charges related to this plan, which includes costs for title cancellations, employee severance, and office space reductions. The plan is expected to be complete by December 31. Grand Theft Auto VI, anticipated for release in 2025, is expected to be one of the highest-grossing media products. TTWO stock has gained over 16% in the past year and is trading higher by 0.39% to $146.00 premarket.

Portfolio Pulse from Nabaparna Bhattacharya

April 17, 2024 | 10:10 am

KBR

KBR has signed a contract to supply its K-GreeN green ammonia technology for Fortescue's Holmaneset Green Energy Project in Norway. This partnership highlights KBR's role in supporting sustainable energy projects and may influence the company's market position positively by showcasing its commitment to green technology solutions.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:01 am

FXI

META

SNAP

SPY

VGK

The European Commission has given ByteDance's TikTok 24 hours to provide a risk assessment for its new TikTok Lite app, launched in France and Spain, due to concerns over children and users' mental health, according to Reuters.

Portfolio Pulse from Charles Gross

April 17, 2024 | 9:47 am

GOOG

GOOGL

Marc Andreessen criticized Google's internal issues, including employee protests and security breaches involving AI chip designs. He highlighted the risks of AI safety and the need for urgent regulatory measures. Elon Musk supported Andreessen's concerns, emphasizing the dangers of AI. Google faces internal dissent over its cloud contract with the Israeli government, affecting employee morale.

Portfolio Pulse from Rounak Jain

April 17, 2024 | 9:37 am

GENE

Genetic Technologies Limited (GTG), a leader in genomics-based tests, has established a precision oncology division and launched a new portfolio of diagnostic tests under the geneType precision oncology brand.

Portfolio Pulse from Charles Gross

April 17, 2024 | 9:23 am

TSLA

Tesla CEO Elon Musk emphasizes the importance of autonomous driving for Tesla's future, considering it a 'blindingly obvious move'. He reiterated the company's focus on autonomy over other projects, such as the lower-cost EV, which has been rumored to be deprioritized in favor of developing self-driving robotaxis. Musk's stance on vehicle autonomy as a key value driver for Tesla was highlighted alongside recent job cuts aimed at streamlining the company for its next growth phase, particularly focusing on the robotaxi project.

Portfolio Pulse from Anan Ashraf

April 17, 2024 | 9:13 am

GGR

Gogoro and TSMC have announced three new mobility initiatives in Taiwan aimed at enhancing the country's focus on clean energy. These initiatives underscore both companies' commitment to environmental sustainability and clean energy solutions in Taiwan.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 8:03 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk announced the removal of inventory discounts on Tesla cars in the U.S. to simplify the company's sales system, which he described as 'complex and inefficient'. This change excludes demo or used vehicles. The decision follows recent cost-cutting measures, including laying off 14,000 employees (10% of its global workforce) and the departure of senior executives Drew Baglino and Rohan Patel. Despite these changes, Tesla has avoided price cuts in the U.S. since early 2024, except for a temporary reduction on select Model Y versions in February. Recently, Tesla raised prices on all Model Y versions by up to $1,000.

Portfolio Pulse from Anan Ashraf

April 17, 2024 | 7:53 am