Streetbeat News

Corporate Responsibility

BLDP

Ballard Power Systems has been awarded $40M by the U.S. Department of Energy as part of a $750 million initiative under the Bipartisan Infrastructure Law to advance the hydrogen industry. This funding aims to reduce clean hydrogen production costs, support over 1,500 new jobs, and assist disadvantaged communities. It's part of a broader effort to achieve the DOE's Hydrogen Shot goal of $1 per kilogram for clean hydrogen.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 4:40 pm

AAPL

Epic Games has filed a court document claiming that Apple is not complying with a court injunction related to the App Store's operations. This development could potentially impact Apple's App Store policies and its relationship with developers.

Portfolio Pulse from Happy Mohamed

March 13, 2024 | 4:24 pm

AAPL

TSM

Apple has expanded its innovative Restore Fund, a project aimed at combating climate change by investing in forestry projects, by partnering with TSMC and Murata. This expansion signifies a broader commitment from major tech companies to environmental sustainability and could influence investor perception positively.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:35 pm

GOOG

GOOGL

MSFT

Alphabet Inc's Google faces criticism for its AI system, Gemini, due to quality issues and biases. The launch was rushed to compete with OpenAI's ChatGPT, leading to controversies, including racially inaccurate image generations. Google has since suspended its image generating software and limited its chatbot from generating answers related to global elections this year. Critics argue Gemini and similar AI could influence user opinions and biases, raising concerns about AI's role in shaping thoughts and democracy.

Portfolio Pulse from Natan Ponieman

March 13, 2024 | 3:21 pm

LLY

NVO

The pharmaceutical industry is facing a 50% increase in crime due to a surge in counterfeit weight-loss drugs, notably Novo Nordisk's Ozempic and Wegovy, and Eli Lilly's products. Criminals are exploiting supply shortages and high demand, fueled by social media and Hollywood. Both companies are taking significant steps to combat this issue, with Novo Nordisk working with authorities and employing third-party monitors, and Eli Lilly taking legal action against entities selling fraudulent products.

Portfolio Pulse from Vandana Singh

March 13, 2024 | 2:31 pm

TSLA

Elon Musk announced on X that the Tesla Giga Berlin factory is back online, thanking the Tesla team and community support.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 2:23 pm

SHEL

Shell PLC (NYSE:SHEL) is reportedly planning to cut at least 20% of jobs in its deals team as part of a broader restructuring effort aimed at reducing costs and focusing on performance, discipline, and simplification. The cuts are part of a strategy to create more value with less emissions, involving portfolio high grading, new efficiencies, and a leaner organization. Shell's CEO Wael Sawan is committed to improving performance and boosting investor returns. SHEL shares rose 1.3% to $65.36.

Portfolio Pulse from Shivani Kumaresan

March 13, 2024 | 1:47 pm

UAVS

AgEagle Aerial Systems Inc. (NYSE:UAVS), a leading drone solutions provider, announced a shareholder letter from Chairman Grant Begley, highlighting the company's evolution, product offerings, and strategic accomplishments. Begley emphasized AgEagle's transition from a local agricultural drone provider to a global leader in drone technology with applications across various sectors. The letter mentioned the introduction of eBee VISION for defense and security, FAA certification, and the Defense Innovation Unit's endorsement. Recent achievements include leadership team expansions, sales to UT-Battelle and ADS Inc., and recognition as a top AI company in agriculture. Financially, AgEagle addressed its micro cap status, sales stagnation, and high expenses in 2023, but anticipates growth with the eBee VISION. A 20-to-1 reverse stock split was approved to attract more investors and support business growth.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:43 pm

DIS

Jamie Dimon has publicly endorsed Disney CEO Bob Iger in the ongoing proxy fight with Nelson Peltz's Trian Partners. This high-profile support could influence the outcome of the dispute, highlighting the significance of leadership and strategic direction in major corporations.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:23 pm

VCIG

VCI Global Limited (NASDAQ:VCIG) announced its strategic expansion by opening offices in New York and London and setting up an AI R&D Center in Frankfurt. This move aims to accelerate revenue growth and advance AI innovations. The New York and London offices will be led by Marco Baccanello, a Corporate Finance and Private Equity executive with experience in technology sector transactions. The Frankfurt AI R&D Center will be headed by Pascal Lauria, a veteran in AI and machine learning, aiming to nurture potential unicorn businesses.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:19 pm