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Corporate Responsibility

MGRM

NVDA

Monogram Orthopaedics Inc. (NASDAQ:MGRM) has been accepted into the NVIDIA Inception program, aimed at accelerating the development and commercialization of its mBôs robotic surgical system and related products. This collaboration will provide Monogram with access to NVIDIA's cutting-edge technology, expertise, and go-to-market support, potentially speeding up FDA clearance and product launch.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 5:22 pm

MSFT

SPY

OpenAI CEO Sam Altman emphasized the importance of the U.S. developing a comprehensive AI policy, highlighting the rapid advancements in artificial intelligence and its implications for society and the economy. While the article mentions Microsoft (MSFT) and the SPDR S&P 500 ETF Trust (SPY) in relation to the broader market and technology sector's interest in AI, the focus remains on the call for regulatory frameworks.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:57 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) is facing pressure from Norwegian pension fund KLP, a significant investor, over concerns related to collective bargaining amid an ongoing labor dispute in Sweden. The dispute has drawn attention from Nordic institutional investors and has been disruptive to Tesla's operations. KLP, which owns 900,000 Tesla shares, is considering requesting Tesla's AGM to address CEO Elon Musk's stance on collective bargaining. Despite Musk's comments suggesting the issue has been resolved, the strike continues, with potential for escalation.

Portfolio Pulse from Nabaparna Bhattacharya

April 11, 2024 | 4:14 pm

NKLA

M&M Residual and Trevor R. Milton have withdrawn their nomination of directors for Nikola Corporation's Board, citing concerns over potential fraud and misconduct by the company's management and certain directors. They highlighted issues such as operational underperformance, product liability, and misleading public statements, which have led to significant stockholder value destruction. The company's recent undisclosed sale of the Nikola Badger and powersports program, and the handling of Nikola trucks catching fire, were specifically criticized. M&M Residual and Milton are considering legal action against Nikola's officers and directors, and have dissolved their previous group intending to solicit Nikola stockholders for the upcoming Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 3:35 pm

NNI

Sunrock Distributed Generation and Nelnet, Inc. (NYSE:NNI) have formed a tax equity partnership to finance and construct distributed generation assets across several states, including California, Illinois, New Jersey, and New York. This partnership aims to enhance energy sustainability, build power grid resiliency, and reduce carbon emissions. Initial projects are already underway, leveraging Sunrock's proprietary underwriting system and automated technology platform.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 3:30 pm

IDAI

Trust Stamp, a technology company specializing in biometric identity verification, announced it will be granted U.S. Patent No. 11,972,637 on April 30, 2024, for its 'Systems and Methods for Liveness-Verified, Biometric-Based Encryption.' This patent solidifies Trust Stamp's position in the market for secure and innovative identity verification solutions.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 3:09 pm

WFC

Wells Fargo & Company (NYSE:WFC) is set to release its Q1 earnings on April 12, 2024, with analysts forecasting a decrease in earnings per share to $1.09 from $1.23 and a slight drop in revenue to $20.2 billion from $20.73 billion year-over-year. The company also announced Jason M. Rosenberg as the new Head of Public Affairs. Ahead of the earnings call, analysts have revised their ratings and price targets for WFC, with mixed views on the stock's outlook.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 2:27 pm

SPOT

Spotify's press release highlights the success of Canadian music on its platform, noting that Canadian artists were discovered 3.8 billion times last year and royalties exceeded $435 million CAD from 2018 to 2023. The release criticizes the CRTC's outdated criteria for defining Canadian content, which excludes many successful artists due to the global nature of their collaborations. It mentions artists like Tate McRae and Ikky as examples of Canadian success stories not fitting the CRTC criteria. Spotify advocates for an updated definition of Canadian and Indigenous music to reflect the global success of Canadian artists, as their revenue on Spotify grew by over 15% in 2023, outpacing the global industry.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 2:13 pm

KMX

CarMax's CFO announced during a conference call that the company is reducing its 30-day money back guarantee to 10 days due to many consumers taking advantage of the policy before the 30-day mark. The CFO clarified that supply issues are not the concern, but rather the pricing of vehicles.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 2:05 pm

PPRUF

PPRUY

Kering SA has appointed Stefano Cantino as deputy CEO of Gucci to revitalize the brand. Cantino, with extensive experience at Louis Vuitton and Prada, will assume his role on May 2, reporting to Gucci's President and CEO, Jean-François Palus. This move comes as Gucci seeks to improve its performance, which has lagged behind competitors.

Portfolio Pulse from Shivani Kumaresan

April 11, 2024 | 1:33 pm