Streetbeat News

Corporate Responsibility

CMCSA

SPY

Former President Donald Trump won the majority of states during Super Tuesday, leading to Nikki Haley suspending her campaign. Media outlets, including MSNBC, a Comcast Corporation unit, are debating how to cover Trump's speeches due to past misinformation. MSNBC aired part of Trump's speech before cutting away, sparking discussions on responsible coverage. Trump's comments on the stock market and his impact on the S&P 500 during his presidency were highlighted, contrasting with the market's performance under President Biden. The SPDR S&P 500 ETF Trust (SPY) saw significant gains during both presidencies.

Portfolio Pulse from Chris Katje

March 06, 2024 | 9:29 pm

SONY

Arrowhead, the developer behind Helldivers 2, has publicly denied rumors of being acquired by Sony Group Corp. (NYSE:SONY), emphasizing its status as an independent studio. Despite the game's success on PlayStation 5 and PC, and Sony Interactive Entertainment publishing it, Arrowhead's CEO Johan Pilestedt clarified the studio's independence in response to acquisition speculations. The article also mentions Sony's recent layoffs affecting about 900 employees across various PlayStation studios. Helldivers 2 has sold around three million copies, continuing to receive positive reviews and updates.

Portfolio Pulse from Franca Quarneti

March 06, 2024 | 9:07 pm

F

GM

HYMTF

STLA

VWAGY

Ford Motor (NYSE:F) reported a 10.5% increase in U.S. sales for February, driven by a surge in EV and hybrid vehicle sales. General Motors (NYSE:GM) announced a pilot program for developing hydrogen fuel trucks and an H2 microgrid. Stellantis N.V. (NYSE:STLA) revealed a record investment plan in South America, aiming for carbon net zero by 2038 and market dominance. Volkswagen (OTC:VWAGY) and Hyundai Motor Company (OTC:HYMTF) also made significant investments in the region.

Portfolio Pulse from Upwallstreet

March 06, 2024 | 8:26 pm

GDDY

GoDaddy shares are trading higher following the announcement of a long-term growth strategy and the issuance of guidance.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 8:24 pm

FXI

GOOG

GOOGL

SPY

The U.S. has indicted former Google software engineer Linwei Ding for allegedly stealing trade secrets related to artificial intelligence to aid Chinese companies. This development could have implications for Google's competitive edge in AI technology and may affect U.S.-China relations in the tech sector.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 8:15 pm

NYCB

Joseph Otting is set to become the CEO, and Alessandro DiNello will be named as Non-Executive Chairman of a well-capitalized national bank with over $100 billion in assets. The bank, which is undergoing a reconstitution of its board and management team, aims to deliver a diversified and de-risked business model.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:14 pm

NYCB

New York Community Bancorp, Inc. (NYCB) announced a significant equity investment exceeding $1 billion from a consortium led by Liberty Strategic Capital, Hudson Bay Capital, and Reverence Capital Partners. The investment is anchored by notable figures such as former U.S. Treasury Secretary Steven Mnuchin. This capital infusion is aimed at bolstering NYCB's balance sheet and liquidity, with the bank planning to add four new directors to its Board, including Mnuchin and former Comptroller of the Currency Joseph Otting, who will also serve as the new CEO. The move is seen as a positive endorsement of NYCB's turnaround strategy and is expected to position the bank for long-term profitability and growth.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:13 pm

INTC

Intel's CFO announced plans to cut an additional $5B to $7B in spending to enhance cash flow, as discussed at the Morgan Stanley Technology, Media, and Telecom Conference.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 6:54 pm

NYCB

New York Community Bancorp Inc (NYSE:NYCB) shares plummeted following reports the bank is seeking a capital infusion through a potential equity sale. The stock was halted multiple times after The Wall Street Journal reported the bank's efforts to shore up confidence. Concerns arose after weak financial results, a dividend cut, and fears over commercial real-estate loan losses. The situation worsened with Moody's downgrading the bank's ratings to junk and the replacement of its CEO and board director.

Portfolio Pulse from Adam Eckert

March 06, 2024 | 6:40 pm

AAPL

Apple announced its decision to exercise its court-determined right to terminate 'any or all' of Epic Games' units and affiliates at its discretion, citing 'past and ongoing' behavior by Epic. This follows a court ruling that Apple has the right to terminate Epic Games' developer account due to an 'egregious breach' of contractual obligations.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:29 pm