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Corporate Responsibility

CVX

IYE

TTE

XLE

Chevron Corporation (NYSE:CVX) has officially exited Myanmar's Yadana gas field, redistributing its 41.1% stake to PTT Exploration and Production and Myanma Oil and Gas Enterprise. This move comes after Chevron's 2021 announcement to leave Myanmar due to violence and human rights abuses following the 2021 coup. The Yadana field, a significant gas producer, has been a point of contention amid Myanmar's ongoing crisis. Chevron's exit aligns with its commitment to an orderly withdrawal, reflecting on international law and sanctions. Investors can track Chevron's performance through SPDR Select Sector Fund – Energy Select Sector (NYSE:XLE) and iShares U.S. Energy ETF (NYSE:IYE).

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 11:58 am

AAPL

Jim Cramer criticized Apple Inc. (NASDAQ:AAPL) for sending receipts for subscription services at odd hours, such as 3:50 a.m., suggesting it could lead to customers overlooking these emails. This critique comes amid broader scrutiny of Apple's services business, which faces potential legal and regulatory challenges. Apple's billing practices have been questioned by users, with some reporting being charged for subscriptions without receiving bills and difficulties in canceling subscriptions. Additionally, Apple is under investigation by the European Union for potential antitrust violations, alongside Meta Platforms Inc. and Alphabet Inc.'s Google.

Portfolio Pulse from Rounak Jain

April 09, 2024 | 11:42 am

SU

Suncor Energy Inc's (NYSE:SU) subsidiary Syncrude Canada pleads guilty to a charge under the Occupational Health and Safety Act, agreeing to pay C$390,000 for failing to ensure worker safety after a fatal incident in 2021. This is part of a series of incidents that led to management changes at Suncor, influenced by pressure from activist investors. Despite this, Suncor reports no deaths or life-threatening injuries in 2023, with a significant reduction in lost-time injuries.

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 11:42 am

TSLA

Tesla Inc's (NASDAQ:TSLA) CEO Elon Musk announced that the workers' strike in Sweden, initiated by the Swedish labor union IF Metall in late October, has ended. The strike aimed to pressure Tesla into negotiations for collective bargaining agreements. Despite Tesla's initial refusal to negotiate, IF Metall made a temporary concession in February to allow repairs of critically damaged vehicles until April 30. Musk expressed optimism about Tesla's operations in Sweden moving forward.

Portfolio Pulse from Anan Ashraf

April 09, 2024 | 11:37 am

KXIN

Kaixin Auto Holdings has officially announced a change of its name to Kaixin Holdings. This rebranding reflects the company's strategic shift and broader focus beyond the auto industry. The change is effective immediately, and it's expected to encompass a wider range of business activities under the new branding.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:19 am

BE

Bloom Energy's stock is on the rise following the announcement that it has been awarded up to $75 million in tax credits for its Fremont facility, signaling strong government support and financial incentives for the company's operations.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:14 am

CLDI

Calidi Biotherapeutics presented new data at the AACR Annual Meeting 2024, supporting the first-in-class use of stem cells in their immunotherapies, CLD-101 and CLD-201, to enhance antitumor virotherapies. This innovative approach aims to improve antitumor activity in clinical settings.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:12 am

GOOG

GOOGL

Google is expanding its in-house chip development efforts to better compete in the rapidly growing AI sector. This move is part of a broader trend among tech companies to create custom hardware tailored for AI applications, which require significant computational power. Google's initiative, which began in 2016, aims to produce bespoke hardware to enhance its AI capabilities and efficiency.

Portfolio Pulse from Charles Gross

April 09, 2024 | 11:03 am

CNX

CNX Resources is close to finishing its Kiski Water Line Project, aimed at supporting its operational needs, minimizing the environmental impact of natural gas development, and enhancing regional water infrastructure for communities.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 10:48 am

TSLA

Elon Musk, CEO of Tesla, reacted to a post by former GOP presidential candidate Vivek Ramaswamy, expressing concern over the security implications of the southern border situation. Ramaswamy warned of a potential '9/11-scale tragedy' due to illegal aliens with hostile intentions. Musk agreed, stating it's 'Only a matter of time.' Musk's stance on immigration is complex, criticizing some policies while advocating for easier processes for skilled workers.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 10:38 am