Streetbeat News

Corporate Responsibility

RILY

B. Riley Financial, Inc. (RILY) has announced that it is continuing to work with its auditors and maintains a perfected first lien security interest in the shares collateralizing its loan. This statement aims to clarify the company's current financial operations and security interests.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 5:56 pm

RILY

B. Riley stated that it was not contacted regarding the contents of a report by an author before its publication.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 5:56 pm

PLCE

Children's Place, Inc. (NASDAQ:PLCE) shares surged after Mithaq Capital disclosed ownership of approximately 54% of the company's shares, intending to nominate 11 board members at the 2024 annual meeting. The company is in talks with Mithaq regarding financing for liquidity needs but faces a potential default under its credit agreement due to this change of control. The stock's significant rise is also attributed to a high short interest combined with heavy trading volume.

Portfolio Pulse from Erica Kollmann

February 15, 2024 | 5:35 pm

AMZN

AVGO

GOOG

GOOGL

META

MSFT

Meta Platforms Inc (NASDAQ:META) is expanding its board with Broadcom Inc's (NASDAQ:AVGO) CEO, Hock E. Tan, and philanthropist John Arnold, following Sheryl Sandberg's departure. This move aligns with Meta's focus on artificial general intelligence (AGI) and efficiency. The tech sector, including Amazon (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), Microsoft Corp (NASDAQ:MSFT), and Meta, is shifting towards cost control and efficiency, with Meta's stock rising 2.77% recently.

Portfolio Pulse from Anusuya Lahiri

February 15, 2024 | 5:26 pm

AMD

AVGO

MSFT

NVDA

TSMWF

The AI 5, coined by Light Street Capital's Glen Kacher, highlights Nvidia, Microsoft, AMD, TSMC, and Broadcom as leading stocks in the AI-driven market. Nvidia excels in GPUs for AI, Microsoft invests heavily in AI with OpenAI, AMD introduces the MI300X chip for AI computations, TSMC leads in semiconductor manufacturing with advanced technologies, and Broadcom's semiconductor solutions support AI applications. Warren Buffett has invested in Apple and Amazon, part of The Magnificent Seven, but not directly in AI 5 stocks.

Portfolio Pulse from Stjepan Kalinic

February 15, 2024 | 5:19 pm

VOD

Competitors of Telecom Italia have expressed concerns to the government about the risk of Telecom Italia's service operations and future network unit maintaining a 'strong vertical mutual dependence', according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 5:14 pm

WFC

The Office of the Comptroller of the Currency (OCC) has terminated the 2016 consent order against Wells Fargo & Company (WFC) related to deficiencies and unsafe practices in risk management and sales practices. This termination signifies that Wells Fargo has complied with the enforcement action's requirements or that the issues have become outdated or irrelevant.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 4:36 pm

GM

At the Wolfe Research Conference, GM's CEO expressed belief in the growth of electric vehicles (EVs), albeit at a slower pace than previously anticipated.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 4:02 pm

INOD

Wolfpack Research has issued a report on Innodata Inc. (NASDAQ:INOD), criticizing its AI claims as 'smoke and mirrors' and highlighting its reliance on manual data-entry and offshore labor. The report details INOD's low R&D spend, financial struggles, and insider stock sales, suggesting the company's stock will revert to its historical levels due to its inability to pivot to AI. It contrasts INOD's performance and investment in AI with that of its competitors and major tech companies, concluding that INOD's AI claims are misleading.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:52 pm

BA

FAA's Whitaker has engaged with Boeing engineers and mechanics to gain insights into the safety culture at the Washington facility. Additionally, the FAA is concluding its enhanced oversight audit of Boeing's production and manufacturing quality systems within the next few weeks.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:48 pm