Streetbeat News

Corporate Responsibility

GM

General Motors Co's autonomous driving unit Cruise is reportedly preparing to resume robotaxi testing in Phoenix, Arizona, with safety drivers. This comes after operations were suspended following a pedestrian accident in San Francisco. GM reported a $3.48 billion operating loss at Cruise in 2023, but CEO Mary Barra reaffirmed the company's commitment to Cruise, indicating reduced spending but continued investment in self-driving technology.

Portfolio Pulse from Anan Ashraf

April 09, 2024 | 9:09 am

GOOG

GOOGL

Elon Musk criticized Alphabet Inc.'s Google Gemini AI for its 'politically correct' programming, suggesting it could be dangerous and doubting future versions would significantly deviate from this approach. Musk emphasized the need for AI regulation to keep pace with technological advancements to ensure safety. Google's Gemini AI faced controversy for inaccuracies and misrepresentations, leading to a temporary pause on its image generation feature.

Portfolio Pulse from Ananya Gairola

April 09, 2024 | 8:47 am

EH

EHang Holdings Limited has announced the appointment of Zhao Wang as the Co-Chief Operating Officer, effective April 9, 2024. This strategic move aims to strengthen the company's operational leadership.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 8:10 am

PRTC

PureTech has launched Seaport Therapeutics with an oversubscribed Series A funding of $100M. Daphne Zohar steps down as PureTech's CEO to lead Seaport, with Bharatt Chowrira taking over as PureTech's new CEO. Eric Elenko is promoted to President of PureTech.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 7:39 am

ANGI

MAXN

NEOG

PSMT

SGH

Neogen, Maxeon Solar Technologies, PriceSmart, Angi Inc., and SMART Global Holdings are stocks to watch due to upcoming earnings reports and leadership changes. Neogen is expected to report earnings of 14 cents per share, while Maxeon Solar's preliminary revenue is below market estimates. PriceSmart's earnings are anticipated at $1.25 per share. Angi Inc. announced Jeff Kip as the new CEO, and SMART Global is expected to post earnings of 25 cents per share.

Portfolio Pulse from Avi Kapoor

April 09, 2024 | 7:01 am

DCOM

Dime Community Bancshares has expanded its private and commercial banking operations by hiring a new group focused on deposits. This move aims to strengthen the bank's deposit base and enhance its service offerings in the private and commercial banking sectors.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 6:30 am

AAPL

Apple Inc. is proceeding with the settlement for the 'Batterygate' issue, inviting Canadian iPhone owners of specific models to claim their share. The lawsuit, settled for $14.4 million, accused Apple of intentionally slowing down older iPhones. Eligible users can receive between CA$17.50 and CA$150. The settlement and improvements in battery life in newer models like the iPhone 15 series aim to restore consumer trust. Apple's stock experienced a slight decrease to $168.45.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 6:19 am

DJT

Shares of Trump Media & Technology Group Corp (NASDAQ:DJT) have plummeted, erasing all gains since its public debut. The stock dropped an additional 11% on Monday, with its value significantly reduced from its peak. The company, despite facing a $58.2 million loss last year and receiving a 'going concern' notice, remains optimistic about its future, citing no debt and substantial cash reserves. The stock's volatility has been influenced by various factors, including allegations of reliance on emergency loans for its market debut and legal challenges faced by Donald Trump.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 5:19 am

AAPL

TSLA

Tesla Inc (NASDAQ:TSLA) has settled a lawsuit related to a fatal 2018 crash involving its Autopilot system. The case, which involved the death of a former Apple Inc. (NASDAQ:AAPL) engineer, had been contested by Tesla, which argued it was not liable as drivers control the vehicle in Autopilot mode. The settlement details were not disclosed. This lawsuit is among several involving Tesla's Autopilot technology set for trial this year. Tesla has faced scrutiny over its Autopilot and Full Self-Driving (FSD) technologies, including a recent fatal accident involving a Tesla recruiter.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 3:24 am

AAPL

TSLA

Tesla Inc. (TSLA) has settled a lawsuit over a fatal 2018 crash involving its Autopilot system and an Apple Inc. (AAPL) engineer, Walter Huang. The settlement terms were not disclosed. The lawsuit highlighted the potential limitations of Tesla's Autopilot system and also involved allegations against California's transportation department for not repairing a damaged barrier. A follow-up hearing is scheduled for April 11 to discuss the settlement further.

Portfolio Pulse from Ananya Gairola

April 09, 2024 | 3:18 am