Streetbeat News

Corporate Responsibility

TSLA

Argentine President Javier Milei and Tesla Inc. CEO Elon Musk discussed the importance of free markets, technological development, and population growth at Tesla's facility in Austin, Texas. They emphasized the need to cut bureaucratic red tape and boost global birth rates. Additionally, they talked about collaboration in the face of social network X's conflict in Brazil and agreed to promote technological development and host a large event in Argentina to promote freedom.

Portfolio Pulse from Jose Rodrigo Safdiye

April 12, 2024 | 7:14 pm

F

Ford Motor Co (NYSE:F) announced a recall of 42,652 Bronco Sport and Escape vehicles in the U.S. due to broken fuel injectors that could cause fires. This coincided with the death of O.J. Simpson, who is historically linked to the Ford Bronco from a famous 1994 police chase. Ford has distanced itself from the negative connotations associated with Simpson and the Bronco, focusing on its revival and distancing from its past image.

Portfolio Pulse from Chris Katje

April 12, 2024 | 7:02 pm

TRMB

Trimble (NASDAQ:TRMB) is set to change its financial reporting segments to 'Architects, Engineers, Construction and Owners' (AECO), 'Field Systems', and 'Transportation and Logistics' (T&L), starting from Q1 2024. This reorganization aims to align financial reporting with the company's structure and business models, covering software solutions for construction, hardware-centric businesses, and services for long haul trucking and freight shippers.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 6:31 pm

BOX

On CNBC, Box CEO Aaron Levie discussed the future of AI and the importance of its regulation. He emphasized the potential of AI to transform industries but also highlighted the need for careful oversight to ensure ethical use and prevent misuse.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 5:20 pm

SPOT

Spotify Technologies SA (NYSE:SPOT) is introducing TikTok-inspired features allowing paid subscribers to remix tracks. These tools, part of the Spotify Premium and potentially a new 'Supremium' tier, aim to provide artists with new revenue streams by ensuring fair compensation for user-generated remixes. Unlike unauthorized remixes that lead to revenue loss, Spotify's initiative could help artists receive royalties directly, although remixes won't be shareable on third-party services.

Portfolio Pulse from Franca Quarneti

April 12, 2024 | 5:09 pm

LAZR

Luminar Technologies, Inc. (LAZR) has strengthened its executive team by hiring Dr. David Foster as Executive Vice President of Engineering and John Pinette as Senior Vice President of Communications. Dr. Foster brings a wealth of experience from leading tech companies like Lyft, Apple, Microsoft, and Amazon, having launched major products like the iMac and Kindle. John Pinette has a strong background in communications, having worked for Meta, Microsoft, and Google. Their appointments come at a crucial time as Luminar prepares for the production and deployment of its LiDAR technology in passenger cars, aiming to enhance vehicle safety.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:55 pm

AMZN

Amazon.com Inc (NASDAQ:AMZN) is influencing tech sector layoffs with a focus on cost-cutting and AI investment, despite the overall decline in tech layoffs. In 2024, layoffs in the tech sector have decreased, with Amazon contributing significantly to the numbers in the past. The retail industry, including Amazon, has seen varying layoff trends over the years, with Amazon's layoffs totaling 27,000 between November 2022 and March 2023.

Portfolio Pulse from Surbhi Jain

April 12, 2024 | 4:51 pm

AMC

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares have fallen over 10% in the past five days, reaching a new all-time low. The decline follows the announcement of an equity distribution program to offer up to $250 million in additional shares. Despite the downturn, CEO Adam Aron remains optimistic, dismissing the possibility of bankruptcy or restructuring for AMC. Over the past year, AMC shares have plummeted by 94.71%, with a significant drop of 36.54% in the last month alone. The stock's Relative Strength Index of 7.67 suggests it is currently oversold.

Portfolio Pulse from Erica Kollmann

April 12, 2024 | 4:48 pm

C

Citi's CFO announced during a conference call that the company expects a downward trajectory in expenses for the remainder of the year, aligning with previous guidance.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:31 pm

PRTG

Portage Biotech announced it is expanding its evaluation of strategic alternatives and implementing measures to extend its cash runway, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 3:56 pm