Streetbeat News

Corporate Responsibility

GOOG

META

Meta Platforms Inc.'s decision to block news links in Canada has led to a surge in right-wing content on Facebook, potentially disrupting political discourse. This move is part of Meta's broader strategy to scale back on news and political content globally. Meanwhile, Alphabet Inc. has maintained its agreements with news publishers in Australia and secured a deal with the Canadian government to support media outlets.

Portfolio Pulse from Ananya Gairola

April 15, 2024 | 1:59 am

DIS

The Walt Disney Company (NYSE:DIS) paused advertising and posting on social media platform X, formerly Twitter, in protest against comments made by platform owner Elon Musk. Musk criticized Disney and its CEO Bob Iger, stating he does not want their advertising if it's used as blackmail. Despite Musk's apology for interacting with a controversial post, Disney has only resumed posting from some accounts, indicating a continued standoff. This feud includes Musk's support for a lawsuit against Disney and comments suggesting Iger should be fired.

Portfolio Pulse from Chris Katje

April 14, 2024 | 3:58 pm

GOOG

GOOGL

NVDA

TSM

This week in AI, Google's Sundar Pichai navigates AI challenges while Alphabet Inc. retains its title as America's Most Innovative Company. Nvidia Corp. experiences a pullback from record highs but remains a standout stock, likened to basketball legend Caitlin Clark. AI's potential to consume 25% of US power by 2030 raises concerns, and Rep. Josh Gottheimer profits from trading Taiwan Semiconductor Manufacturing Co. shares. Cathie Wood's Ark Investment Management sells nearly $4M in Nvidia shares, adjusting its position in the AI market.

Portfolio Pulse from Benzinga Neuro

April 14, 2024 | 5:55 am

M

Macy's Inc (NYSE:M) is at a critical juncture as it appoints two new board members following a proxy fight with Arkhouse Management. The company is considering a buyout proposal from Arkhouse and Brigade Capital Management, who previously offered $21 per share. The board is exploring all options to maximize shareholder value amidst this takeover bid, which could significantly alter Macy's future. The stock closed lower by 3.16% to $19.30 recently.

Portfolio Pulse from Nabaparna Bhattacharya

April 13, 2024 | 7:26 pm

AMZN

SBUX

TSLA

UAW President Shawn Fain criticizes Elon Musk and highlights a resurgence in organized labor across various sectors in the U.S., including Amazon, UPS, Starbucks, and Hollywood. Fain, a key figure in labor movement, has secured significant contracts and aims to expand union influence, even amid political challenges. Musk's opposition to unionization at Tesla is specifically called out, with Fain labeling Musk as problematic for workers.

Portfolio Pulse from Nabaparna Bhattacharya

April 13, 2024 | 5:20 pm

SOFI

President Joe Biden announced a $7.4 billion student debt forgiveness for 277,000 people, sparking criticism from Elon Musk and Bill Ackman, who argue it's a vote-buying strategy using taxpayer money. Critics are concerned about the impact on the fiscal deficit, with the national debt already at $34.65 trillion. The Wharton School estimates the plan's cost at $84 billion, in addition to the $475 billion for the SAVE plan. Following the announcement, shares of private student loan companies like SoFi Technologies, Inc. (NASDAQ:SOFI) fell.

Portfolio Pulse from Shanthi Rexaline

April 13, 2024 | 5:03 pm

T

A recent book reveals that a 2019 White House meeting between Donald Trump and former AT&T CEO Randall Stephenson, aimed at discussing Chinese threats to American telecom networks, was derailed by Trump's rant on Stormy Daniels. Instead of focusing on China, Trump spent most of the meeting discussing his personal grievances, leaving little time for the intended discussion on Chinese infrastructure and telecom threats.

Portfolio Pulse from Nabaparna Bhattacharya

April 13, 2024 | 4:43 pm

TSLA

A Tesla Inc. owner, Brianna Janel, reported being trapped inside her car during a software update, causing the interior temperature to reach 115°F. Despite the Tesla user manual's warning against opening doors or windows during an update, Janel chose to wait it out to avoid damaging the vehicle. This incident has raised concerns about the safety of Tesla's software updates, adding to previous issues that have drawn scrutiny from the NHTSA.

Portfolio Pulse from Ananya Gairola

April 13, 2024 | 8:22 am

INTC

Republican lawmakers criticized the Biden administration after Huawei unveiled a laptop with an Intel AI chip, despite Huawei being on a trade restriction list. The chip was supplied under a license from the Trump era, raising concerns about U.S. national security and technology export to China. The Biden administration has faced calls to take a tougher stance on Huawei and other Chinese tech firms.

Portfolio Pulse from Ananya Gairola

April 13, 2024 | 1:55 am

NYCB

New York Community Bancorp, Inc. (NYCB) has announced the immediate appointment of four new executives to its team, aiming to enhance operational capabilities, risk and compliance, and drive growth. Craig Gifford is appointed as CFO, bringing over 30 years of banking experience. Bao Nguyen is named SEVP, General Counsel & Chief of Staff, with a background in financial services law. Scott Shepherd joins as SEVP, Head of Commercial Real Estate Lending, with extensive experience in real estate finance. James Simons is appointed as EVP, Special Advisor to the CEO, bringing over 45 years of banking experience.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 9:50 pm