Streetbeat News

Corporate Responsibility

NVDA

TSLA

Tesla Inc.'s CEO Elon Musk disagrees with Nvidia Corp.'s CEO Jensen Huang on the ease of creating neural networks. Musk responded to Huang's claim that anyone could use Nvidia's AI chips for this purpose, stating it's 'insanely hard'. This comes as Tesla has invested in Nvidia's GPUs for its self-driving technology. Huang remains optimistic about Nvidia's AI capabilities and its software segment's revenue, despite Musk's skepticism.

Portfolio Pulse from Rounak Jain

April 05, 2024 | 2:20 pm

META

Meta plans to expand its labeling of AI-generated content to include a broader range of video, audio, and image content starting in May. This decision comes as a response to feedback indicating that the current labeling policies are too narrow. The new labels aim to address the increasing variety of AI-generated and manipulated content. Meta's approach includes labeling content as 'Made with AI' through self-disclosure, advice from fact-checkers, or detection of AI markers. This policy update follows recommendations from Meta's independent Oversight Board and extends beyond the existing 'manipulated media' rules.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 2:01 pm

BA

NVDA

SBUX

Barbara Doran of BD8 Capital Partners has revealed her top stock picks, showing a bullish stance on Boeing (BA), Nvidia (NVDA), and Starbucks (SBUX). Despite Boeing's recent challenges, Doran is optimistic due to upcoming leadership changes. Nvidia's stock has surged 240% in 2023, and despite being considered overvalued by some, Doran sees further potential. Starbucks, despite a 14% drop in shares over the past year, is viewed positively by Doran for its expansion plans and recent leadership restructuring.

Portfolio Pulse from Benzinga Neuro

April 05, 2024 | 1:50 pm

PG

Procter & Gamble (NYSE:PG) has initiated a voluntary recall of 8.2 million bags of Tide Pods, Gain Flings, Ace Pods, and Ariel Pods due to a packaging defect that poses a risk of serious injury. The defect involves the outer packaging splitting open, potentially allowing children and vulnerable populations to access and ingest the contents, which could lead to serious health issues or death. The recall is limited to the U.S., and P&G is offering refunds or replacements for affected products.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:31 pm

EXPI

eXp Realty, a subsidiary of eXp World Holdings, Inc. (NASDAQ:EXPI), announced Leo Pareja as its new CEO, effective immediately. Pareja, previously the Chief Strategy Officer, is recognized for his innovative leadership and contributions to the company's growth, including strategic initiatives like eXp Exclusives and Revenos. Glenn Sanford, the former CEO, will focus on his role as Founder, Chairman, and CEO of eXp World Holdings. The company has been recognized in the RealTrends 500 report, highlighting its market share growth and agent-centric approach.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:06 pm

ACGL

Arch Insurance North America, part of Arch Capital Group Ltd. (NASDAQ:ACGL), is set to acquire Allianz's U.S. MidCorp and Entertainment insurance businesses for $450M. The deal includes a $1.4B capital requirement for Arch and involves the transfer of approximately 500 employees. This acquisition aims to expand Arch's presence in the U.S. middle market and enhance its specialty insurance portfolio. The transaction, expected to close in the second half of 2024, is subject to regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:01 pm

IBM

IBM and the Government of Spain have announced a strategic collaboration to advance Spain's national AI strategy and develop leading Spanish language AI models. This partnership, formalized through a Memorandum of Understanding, aims to promote the development and deployment of open, ethical, and responsible generative AI in Spain. It focuses on creating large and small language models proficient in Spanish and co-official languages, enhancing AI sustainability, reducing biases, and fostering an ecosystem of AI creators. The collaboration also intends to develop AI-enhanced techniques for the semiconductor industry and leverage IBM's AI framework for community contributions.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:45 pm

ENPH

David Ranhoff, EVP and Chief Commercial Officer of Enphase Energy, announced his intention to step down effective June 30, 2024, for personal reasons. He will transition to a part-time Commercial Advisor role on July 1, 2024. His responsibilities will be taken over by two senior vice presidents, in line with the company's succession plan. There are no disagreements between Ranhoff and the company.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:44 pm

IYF

IYG

JPM

JPMorgan Chase & Co. has reorganized its global banking division, appointing new leaders in key positions. Filippo Gori and Doug Petno will lead the merged commercial, corporate, and investment banking groups. Kevin Foley is named the global head of capital markets, and several other executives have been appointed to lead various banking sectors. The restructuring aims to streamline operations and enhance leadership within the bank's global banking unit. Investors can gain exposure to JPMorgan through IShares U.S. Financial Services ETF (IYG) and IShares U.S. Financial ETF (IYF). JPM shares saw a slight increase of 0.19% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 05, 2024 | 12:36 pm

TSLA

Tesla's Cybertruck, dubbed the Cyberbeast, has encountered electrical issues shortly after delivery, with reports of the vehicle becoming unresponsive within mere miles of use. CEO of Formula Monks, Brady Brim-DeForest, and Instagram user Nazila experienced significant malfunctions, sparking discussions about quality control. Despite these setbacks, notable figures like Brim-DeForest and tech reviewer Marques Brownlee remain optimistic about the vehicle's potential, comparing it to iconic cars.

Portfolio Pulse from Anan Ashraf

April 05, 2024 | 12:15 pm