Streetbeat News

Corporate Responsibility

AAPL

GS

MRAAF

TSM

Apple Inc, along with its suppliers Taiwan Semiconductor Manufacturing Co (TSMC) and Murata Manufacturing Co, are increasing their investment in a green initiative to $280 million. TSMC and Murata are contributing $50 million and $30 million, respectively, to the Restore Fund, managed by Climate Asset Management. This fund aims to support carbon removal through nature-based solutions. Additionally, Apple is advancing its chip technology with TSMC's 2-nanometer fabrication process. Despite a downturn in the consumer electronics market, TSMC's stock rose 58% last year, outperforming Apple's 14% increase.

Portfolio Pulse from Anusuya Lahiri

March 14, 2024 | 7:18 pm

ACB

Recent developments in cannabis legislation and market dynamics across Europe include France excluding cannabis flower from its medical marijuana program, the UK grappling with a booming illegal cannabis market estimated at $3.3 billion annually, and Germany facing calls to delay cannabis legalization. Aurora Cannabis (NASDAQ:ACB), a major player in the cannabis industry, has expressed concerns over the uncertainty caused by potential delays in Germany's cannabis legalization, emphasizing the need for legal clarity to ensure investment and planning security.

Portfolio Pulse from Nina Zdinjak

March 14, 2024 | 6:53 pm

INTC

SPY

President Biden and Commerce Secretary Gina Raimondo are set to announce a grant under the Chips Act for Intel in Arizona on March 20, according to Reuters sources.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 6:17 pm

AAPL

Apple has acquired the AI startup DarwinAI, incorporating dozens of DarwinAI's staff into its AI division, as part of its efforts to enhance its AI capabilities and add new features.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 5:10 pm

CLF

NISTF

X

President Joe Biden and Donald Trump have both expressed opposition to Nippon Steel Corp's (OTC:NISTF) acquisition of United States Steel Corporation (NYSE:X) for $14.1 billion, emphasizing the importance of keeping the company American-owned. U.S. Steel shares dropped 2.8% following the report. Cleveland-Cliffs Inc. (NYSE:CLF) had previously made a bid for U.S. Steel, which was rejected.

Portfolio Pulse from Nabaparna Bhattacharya

March 14, 2024 | 5:05 pm

AAPL

GOOG

META

SNAP

The U.S. House of Representatives passed a bill requiring TikTok's parent company, ByteDance, to divest its holdings or face a U.S. ban. This could benefit rival social media platforms like Meta Platforms, Alphabet's YouTube, and Snap Inc, as TikTok users may migrate to these platforms. The bill now moves to the Senate, and if passed, ByteDance has five months to comply. The potential ban could remove TikTok from Apple and Alphabet's app stores, affecting future downloads and updates. Several members of Congress, who own stock in these social media companies, voted in favor of the bill, raising conflict of interest concerns.

Portfolio Pulse from Chris Katje

March 14, 2024 | 5:03 pm

LAC

Lithium Americas Corp. (NYSE:LAC) shares rose after announcing a conditional commitment from the U.S. Department of Energy for a $2.26 billion loan to finance construction at Thacker Pass, aimed at producing 40,000 tonnes per year of lithium carbonate. This financing is part of the Advanced Technology Vehicles Manufacturing loan program, supporting the U.S. in leading global electrification and strengthening battery supply chains.

Portfolio Pulse from Erica Kollmann

March 14, 2024 | 4:16 pm

GM

LAC

Lithium Americas (NYSE:LAC) has received a $2.26 billion loan from the U.S. Department of Energy for its Thacker Pass project in Nevada, the largest lithium deposit in the U.S. This funding, part of the Inflation Reduction Act, aims to support the construction of a lithium carbonate processing plant crucial for electric vehicle batteries and renewable energy sources. General Motors (NYSE:GM) has invested $650 million in the project, securing exclusive access to its Phase 1 lithium production.

Portfolio Pulse from Stjepan Kalinic

March 14, 2024 | 4:02 pm

GTBIF

Green Thumb Industries Inc. (GTBIF) is expanding its operations in anticipation of recreational marijuana legalization in several states and is strategically managing its finances through share buybacks and debt repurchase. Despite a recent 13% decrease in stock price, the company's valuation remains above the industry average, reflecting investor confidence. The cannabis sector's future growth is tied to legislative changes and state-level market expansions.

Portfolio Pulse from Nicolás Jose Rodriguez

March 14, 2024 | 3:59 pm

RELL

Richardson Electronics, Ltd. (NASDAQ:RELL) has completed the first phase of the largest retrofit of ultracapacitors for pitch energy modules in North America, installing over 50,000 ULTRA3000® units. These modules, a replacement for toxic lead-acid batteries in wind turbines, offer environmental benefits and cost savings. The achievement supports the company's growth in the renewable energy market, with plans to expand globally.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 3:07 pm