Streetbeat News

Corporate Responsibility

J

UUGRY

Jacobs Engineering Group Inc. has been selected to join United Utilities' Strategic Solutions Team, providing support through 2035. This partnership aims to optimize future asset investment programs and enhance water infrastructure resilience in North West England.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:07 am

BRK

Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK) holds a cash reserve of $168 billion, reflecting a cautious investment strategy amidst market volatility. Buffett's approach, emphasizing patience and safety, contrasts with the current casino-like market behavior. Despite advising against excessive cash reserves in the past, Buffett's successful track record suggests his strategy may be prudent in the current climate.

Portfolio Pulse from Benzinga Neuro

March 18, 2024 | 8:05 am

LOGI

Logitech has announced the departure of CFO Chuck Boynton, with a successor yet to be announced. Despite this change in leadership, the company has reaffirmed its financial outlook for 2024.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 6:58 am

RTX

IAE International Aero Engines AG successfully tested the V2500 engine, used in A320ceo family aircraft and Embraer C-390 Millenium, with 100% sustainable aviation fuel (SAF) at MTU Maintenance Hannover, Germany. IAE is a consortium including Pratt & Whitney, a business of RTX (NYSE:RTX), among others.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 6:55 am

LH

Labcorp presented new research on the clinical impact of precision diagnostics in guiding biomarker-targeted therapies for patients with epithelial ovarian cancer, highlighting the value of biomarker testing.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 6:32 am

NVEI

Nuvei has acknowledged interest in privatization and has formed a special committee to evaluate strategic alternatives. This development indicates a significant shift in the company's strategy and could have implications for its future direction and stock price.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 6:02 am

JOAN

JOANN has entered into an agreement to reduce its debt by approximately $505 million and receive $132 million in new capital along with related financial accommodations. The company will continue its operations as usual, with stores and JOANN.com remaining open. Vendors, landlords, and other general unsecured creditors will not be impaired by this agreement. JOANN is implementing a prepackaged financial recapitalization plan on an expedited basis.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 5:56 am

TSLA

Elon Musk, CEO of Tesla and SpaceX, highlighted the White House's alleged influence on social media platforms ahead of a Supreme Court case, Murthy v Missouri. The case, set to be heard, centers on accusations of the Biden administration coercing social media companies to censor dissent, particularly during the Covid-19 pandemic. This follows a federal appeals court ruling suggesting government agencies likely infringed upon First Amendment rights by pressuring platforms to remove posts. Musk's comments come amid ongoing legal battles over online misinformation and free speech.

Portfolio Pulse from Ananya Gairola

March 18, 2024 | 4:24 am

NVDA

TSLA

Andrej Karpathy, former AI director at Tesla, mentioned that a few Tesla employees could afford yachts due to their stock grants, similar to Nvidia employees. He highlighted that most employees sell their stock grants early, but a few 'true believers' have held onto their shares, expecting further gains from Tesla's future achievements, particularly in fully autonomous driving. Both Nvidia and Tesla have seen significant stock price increases, making some employees millionaires. However, Tesla did not offer merit-based equity awards to some salaried employees in 2023, a deviation from its usual practice.

Portfolio Pulse from Anan Ashraf

March 18, 2024 | 3:52 am

META

MSFT

Elon Musk's xAI has open-sourced its AI model Grok, surpassing competitors like Meta's Llama 2 with 314 billion parameters. Grok is available under Apache License 2.0, excluding trademark rights and liability warranty. Despite its open-source status, full training data and real-time X data integration require a paid subscription. This move is seen as a strategic response to Musk's rivalry with OpenAI and a potential lawsuit, positioning xAI as a leading AI entity.

Portfolio Pulse from Ananya Gairola

March 18, 2024 | 1:59 am