Streetbeat News

Corporate Responsibility

KLAC

NVDA

TSM

KLA Corp (NASDAQ:KLAC), a semiconductor equipment company, is highlighted by fund manager Stephanie Niven as benefiting from the AI boom due to its role as a supplier to Taiwan Semiconductor (NYSE:TSM), which manufactures AI chips for NVIDIA Corp (NASDAQ:NVDA). KLA's focus on reducing manufacturing errors and wastage aligns with sustainability goals, contributing to its stock surge of 25% in 2024 and 89% over the past year. Despite concerns of a potential near-term drop due to its significant price increase, analysts remain bullish on KLA's fundamentals.

Portfolio Pulse from Benzinga Neuro

March 11, 2024 | 3:51 am

AAPL

Bloomberg's Mark Gurman revealed insights into the now-defunct Apple car project, highlighting its innovative designs and the challenges that led to its cancellation. The project aimed to disrupt the EV market with a unique combination of hardware, software, and services. Despite the potential to significantly boost Apple's revenue, disagreements on strategy and technological hurdles, among other issues, led to the project's demise. The designs, which evolved over time, included features like a glass sunroof, minimalist interior, and full Level 5 self-driving capability. However, Apple eventually scaled back to Level 2 autonomy, adding traditional car elements back into the design.

Portfolio Pulse from Shanthi Rexaline

March 10, 2024 | 6:23 pm

CAT

Caterpillar Inc. (NYSE:CAT) reportedly avoided a major federal tax evasion investigation's potentially severe consequences through strategic legal efforts and connections. The investigation, focusing on profit shifting to a Swiss subsidiary, was notably influenced when the Justice Department halted a key witness interview in 2018, coinciding with Donald Trump's nomination of William P. Barr as attorney general. Barr, alongside other connected lawyers, criticized the investigation, leading to a settlement with the IRS for less than a quarter of the initially claimed amount, without penalties. This raises concerns about the influence of high-profile legal representation on the justice system.

Portfolio Pulse from Bibhu Pattnaik

March 10, 2024 | 3:44 pm

AAPL

JPM

NVDA

TSLA

Barron's weekend stock picks include Nvidia, Tesla, and a mixed outlook on Apple. Nvidia experienced its largest market cap drop of $128 billion. Tesla's stock declined due to competition concerns and reduced delivery estimates. Boeing is linking employee bonuses to safety and quality metrics to address manufacturing problems. JPMorgan is outperforming amidst a struggling regional banking sector. Apple's stock price target is lowered due to sales challenges in China, though future prospects remain positive.

Portfolio Pulse from Justin Chan

March 10, 2024 | 1:02 am

MSFT

Elon Musk, founder of xAI, expressed surprise at AI researcher Jeffrey Ladish's criticism of OpenAI CEO Sam Altman, calling him 'deeply untrustworthy' and 'low in integrity'. Musk's criticism of Altman and OpenAI focuses on their refusal to open source AI technologies, alleging it violates founding principles and aims to maximize profits for Microsoft Corp. (NASDAQ:MSFT), OpenAI's biggest investor. Musk has also filed a lawsuit against OpenAI.

Portfolio Pulse from Rounak Jain

March 09, 2024 | 10:30 am

TSLA

Tesla Inc (NASDAQ:TSLA) announced the restart of production at its Berlin gigafactory next week after a temporary halt due to an arson attack. The attack, claimed by the 'Vulkan' group, caused a power outage but resulted in no injuries. CEO Elon Musk condemned the attack and emphasized Tesla's commitment to renewable energy. The factory aims to double its capacity for battery and car production.

Portfolio Pulse from Anan Ashraf

March 09, 2024 | 7:57 am

NNBR

NN, Inc. (NASDAQ:NNBR) announced a balance sheet optimization plan involving the sale and leaseback of three facilities for $16.8 million, aimed at repaying part of its term loan to reduce cash interest expenses. Additionally, NN reduced its corporate headquarters' footprint to lower operating costs. These steps are part of a 2024 plan to decrease capital costs and prepare for future refinancing. The transactions will not affect NN's EBITDA, employees, or customers.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 9:31 pm

TCNNF

The article highlights the achievements of 22 influential women in the cannabis industry, emphasizing their leadership, innovation, and contributions. It mentions their participation in the upcoming Benzinga Cannabis Capital Conference in Florida, April 2024. Key figures include Kim Rivers of Trulieve, who has led the company's growth through strategic mergers and acquisitions, and Nancy Whiteman of Wana Brands, recognized for her leadership and the brand's expansion under Canopy Growth Corp. The conference aims to celebrate these women's achievements and offer networking opportunities for cannabis entrepreneurs.

Portfolio Pulse from Abbey Higginbotham

March 08, 2024 | 9:25 pm

AAPL

JPM

MSFT

NFLX

NVDA

NYCB

The U.S. stock market reached record highs, influenced by Federal Reserve Chair Jerome Powell's hints at potential rate cuts. Nvidia's market cap hit $1 trillion rapidly, highlighting its growth in AI and semiconductors. New York Community Bancorp secured a $1-billion equity investment, causing dilution for current shareholders. Microsoft faced a security breach by Russian hackers. JPMorgan's AI tool significantly improved banking efficiency. Apple invested $1 billion in filmmaking to boost its streaming service, and Netflix ventured into live sports with a high-profile boxing match.

Portfolio Pulse from Piero Cingari

March 08, 2024 | 9:19 pm

EVRG

Evergy announced the retirement of Chairman Mark Ruelle. President and CEO David Campbell will take over as Chairman of the Board. This leadership change may influence the company's strategic direction and investor confidence.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 9:09 pm