Streetbeat News

Corporate Responsibility

DIS

Elon Musk publicly endorsed Nelson Peltz for a position on Walt Disney Co's (NYSE:DIS) board of directors, suggesting that Peltz's involvement would significantly improve Disney's share price. Musk's support was expressed via X, highlighting Peltz's track record of enhancing shareholder value. Additionally, Musk criticized the alleged leaking of early election returns in Disney's proxy contest with Peltz, suggesting it could manipulate the contest's outcome.

Portfolio Pulse from Benzinga Neuro

April 03, 2024 | 8:06 am

GK

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, criticized Tesla, Inc. (TSLA) CEO Elon Musk for the company's poor Q1 sales, attributing it to Musk's behavior. Gerber's firm holds 3,000 Tesla shares in its AdvisorShares Gerber Kawasaki ETF (GK), which has a 2.37% portfolio weighting in Tesla. Gerber has become bearish on Tesla, predicting analysts will lower EPS estimates for 2024 and 2025. He called for a new sales strategy and a shakeup of Tesla's board, criticizing its lack of independence and failure to address Musk's behavior. Tesla's stock fell 4.90% to $166.63.

Portfolio Pulse from Shanthi Rexaline

April 03, 2024 | 6:35 am

MIELF

MIELY

Mitsubishi Electric's subsidiaries have acquired French air conditioning manufacturer AIRCALO, aiming to strengthen and expand its hydronic HVAC systems business in Europe. The acquisition will allow Mitsubishi Electric to leverage AIRCALO's extensive product line and customization capabilities, catering to the growing demand for made-to-order products and environmental sustainability in the European market. Terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:28 am

MSFT

The Cyber Safety Review Board found Microsoft Corporation (NASDAQ:MSFT) had security lapses leading to a 2023 cyberattack by a China-linked group, Storm-0558. The attack exploited vulnerabilities in Microsoft's cloud security and information security culture, compromising US officials' accounts and nearly 60,000 emails from the US State Department.

Portfolio Pulse from Benzinga Neuro

April 03, 2024 | 6:03 am

CLZNF

IFF

IFF has successfully completed the sale of its cosmetics ingredients business to Clariant. This strategic move allows IFF to streamline its operations and focus on its core business segments.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:01 am

AAPL

Apple Inc. is alleged to have blocked Jon Stewart from interviewing FTC Chair Lina Khan on his podcast amid antitrust investigations into Apple's business practices. This incident highlights the tension between tech giants and regulatory bodies, with Apple defending its business strategies against a lawsuit accusing it of monopolizing the smartphone market.

Portfolio Pulse from Benzinga Neuro

April 03, 2024 | 3:01 am

TSLA

Elon Musk's social media network X is experiencing a significant increase in pornographic content, causing user discomfort. A Bloomberg report links this surge to reduced content moderation under Musk's ownership. X is exploring monetization of adult content despite risks, including potential criminal activities. Concerns about protecting minors from explicit material have been raised, with reports of teenagers as young as 12 being exposed. The situation is exacerbated by the proliferation of porn spambots, posing challenges for user and advertiser retention.

Portfolio Pulse from Benzinga Neuro

April 03, 2024 | 1:56 am

DIS

Vanguard Group, Disney's largest investor, has voted to re-elect the company's incumbent directors, opposing Trian Fund Management's efforts. This decision by Vanguard is significant due to its substantial stake in Disney, potentially influencing other investors and solidifying the current management's position. Trian Fund Management's attempt to influence Disney's board composition and strategic direction has thus faced a setback.

Portfolio Pulse from Charles Gross

April 02, 2024 | 8:59 pm

INTC

Intel Corp (NASDAQ:INTC) shares fell in after-hours trading following the announcement of a new financial framework for its foundry business, aimed at increasing cost discipline and returns. The new structure includes the Intel Foundry as a separate operating segment and anticipates foundry operating losses to peak in 2024, with a goal of reaching break-even operating margins by the end of 2030. Intel also appointed Lorenzo Flores as CFO of Intel Foundry.

Portfolio Pulse from Adam Eckert

April 02, 2024 | 8:39 pm

INTC

Intel's stock is trading lower following the announcement of a new financial reporting structure and the appointment of a new CFO for Intel Foundry. These changes are part of Intel's efforts to streamline operations and improve financial transparency.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:37 pm