Streetbeat News

Corporate Responsibility

ATAI

META

MNMD

PSIL

TSLA

Beckley Psytech and atai Life Sciences announced positive results from a Phase 2a study of 5-MeO-DMT for Treatment Resistant Depression. Utah hospitals will soon offer psilocybin and MDMA therapy. Elon Musk discussed the benefits of ketamine for depression and its positive impact on investors. Meta is under investigation for potentially facilitating illegal drug sales. MindMed's CEO highlighted LSD's potential in a podcast. Various companies and ETFs are mentioned with their stock performance.

Portfolio Pulse from Lara Goldstein

March 29, 2024 | 4:43 pm

KRE

'Rich Dad Poor Dad' author Robert Kiyosaki predicts a financial crisis in the US similar to China's, impacting baby boomers' retirement plans. He attributes the crisis to the collapse of major entities in China and warns of similar issues in the US commercial real estate sector. Kiyosaki advises investing in tangible assets like gold, silver, and Bitcoin over fiat currency or real estate investment trusts (REITs). The SPDR S&P Regional Banking ETF (KRE) is mentioned in relation to the challenges faced by the US banking system, including the exposure of regional banks to commercial real estate.

Portfolio Pulse from Shanthi Rexaline

March 29, 2024 | 12:12 pm

META

A study found AI is over three times less predictive for depression in Black Americans' Facebook posts compared to white individuals. Conducted by U.S. researchers and published in the Proceedings of the National Academy of Sciences, the study highlights racial disparities in AI's effectiveness in mental health assessment through social media, specifically on Meta Platforms Inc.'s Facebook. This underscores the ongoing issue of bias in AI technologies and the need for more inclusive technology development.

Portfolio Pulse from Rounak Jain

March 29, 2024 | 11:51 am

META

Meta Platforms Inc. (NASDAQ:META) is set to discontinue the Facebook News feature in the U.S. and Australia as part of its strategy to reduce focus on news and political content. The decision follows the feature's closure in the U.K., France, and Germany last year. Users will still be able to access news articles through links and news organizations can post and promote content on Facebook. This move is in response to criticism over misinformation and political polarization.

Portfolio Pulse from Rounak Jain

March 29, 2024 | 9:38 am

TSLA

German Chancellor Olaf Scholz has expressed support for the expansion of Tesla Inc.'s Gigafactory in Berlin, comparing its potential growth to Ford's Cologne plant. Scholz condemned a recent arson attack on the factory, calling it a 'terrorist act' and emphasizing the need for increased security. Tesla aims to expand the Berlin factory's capacity for battery production to 100-gigawatt hours and car production to 1 million units annually, despite protests.

Portfolio Pulse from Anan Ashraf

March 29, 2024 | 6:39 am

TSLA

Elon Musk, CEO of Tesla Inc, criticized the movie industry for underappreciating manufacturing compared to invention, highlighting the significant challenges in scaling production. Musk emphasized the 'insane pain' of achieving high-volume, positive-margin production over creating prototypes. He also mentioned Tesla's efforts to scale up production of the Cybertruck, aiming for 250,000 units annually, though admitting the target won't be met until 2025 due to production challenges.

Portfolio Pulse from Anan Ashraf

March 29, 2024 | 5:15 am

DIS

Jeffrey Sonnenfeld, a prominent business analyst, praised Disney's CEO Robert Iger as a 'wizard' amid an ongoing proxy battle with activist investor Nelson Peltz. Sonnenfeld appeared on CNBC's Last Call, contrasting Iger's leadership positively against Peltz, whom he described as a 'failing financier.' The proxy fight has been a focal point of discussion, with opinions on Disney's management and future prospects divided among industry experts.

Portfolio Pulse from Benzinga Neuro

March 29, 2024 | 3:02 am

AAPL

Apple Inc. has filed a lawsuit against former employee Andrew Aude for leaking confidential information about its Vision Pro headset and Journal app to journalists. The lawsuit, filed in California, alleges Aude disclosed details about product development, regulatory strategies, and other sensitive information since joining Apple in 2016. Apple seeks a jury trial, damages, and restrictions on Aude's future disclosures. This case adds to a growing list of legal actions by tech companies against former employees for confidential information theft.

Portfolio Pulse from Ananya Gairola

March 29, 2024 | 2:32 am

HONE

HarborOne Bancorp has announced the appointment of Stephen W. Finocchio as the new Executive Vice President and CFO. This strategic move could signal a strengthening of the company's financial leadership team.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 8:58 pm

EXPE

Expedia Group announced leadership changes with Jon Gieselman departing and Brad Bentley and Jochen Koedijk stepping into new roles as COO of Consumer Business and CMO, respectively. These changes come as Expedia aims to build on its marketing and tech foundations for growth. Gieselman's tenure saw the creation of a unified marketing team and the launch of the One Key loyalty program. Koedijk and Bentley are expected to leverage their experience to drive future growth and maintain Expedia's competitive edge in the travel industry.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 8:48 pm