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Corporate Responsibility

TSLA

Elon Musk is scheduled to visit Tesla's German Gigafactory on Wednesday morning after it was targeted in an arson attack, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 11:13 am

ADM

Archer-Daniels-Midland (ADM) announced a correction of historical financial information for specific segments and a plan to remediate material weaknesses. This move aims to enhance financial transparency and accuracy.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 11:03 am

AAP

AZO

ORLY

Advance Auto Parts Inc (NYSE:AAP) has appointed three new independent directors to its board in a move to revitalize its performance, following a 40% share price decline over the past year. The appointments are part of a cooperation agreement with Third Point LLC and Saddle Point Management, L.P. This strategic realignment includes the sale processes for Worldpac and its Canadian business, aiming to enhance competitiveness against AutoZone Inc (NYSE:AZO) and O'Reilly Automotive Inc (NASDAQ:ORLY). The board will expand to 12 directors until the 2024 annual meeting, where 11 nominees, including the new directors, will stand for election.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 10:55 am

LHX

MMM

3M Co announced William M. 'Bill' Brown, former CEO of L3Harris Technologies, as its new CEO effective May 1, 2024, succeeding Michael Roman who will become Executive Chairman. Brown's extensive leadership experience in aerospace and defense at L3Harris and previously at Harris Corporation and United Technologies Corporation positions him well for this role.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 10:39 am

TSLA

Tesla Inc's German gigafactory, located near Berlin, has resumed operations after a week-long outage caused by an arson attack. The factory, which has an installed annual vehicle capacity of 375,000 Model Y vehicles, was forced to halt production due to the attack by the 'Vulkan' Group. The outage resulted in a production loss of approximately 1000 cars per day. Tesla has announced that production will return to full speed this week.

Portfolio Pulse from Anan Ashraf

March 12, 2024 | 10:32 am

VLVLY

Volvo Cars (OTC:VLVLY) has partnered with Breathe Battery Technologies to reduce EV charging times by up to 30%. The collaboration aims to enhance charging efficiency using Breathe's battery management software, which promises faster charging while maintaining battery health. This move is part of Volvo's broader strategy to transition to electric mobility, including adopting Tesla's North American charging standard and phasing out diesel cars by 2024.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 10:22 am

ABNB

Airbnb, Inc. (NASDAQ:ABNB) announced a global ban on indoor security cameras in listings to prioritize customer privacy. The updated policy also includes stricter guidelines for outdoor cameras and devices like noise monitors, while allowing doorbell cameras and noise decibel monitors. The policy change, effective April 30, aims to provide clearer rules for the Airbnb community. The company has seen a 40% share price increase over the past year and reported strong financial results for the fourth quarter, including $63 million in net cash from operating activities. Airbnb also initiated a $6 billion share repurchase program and forecasts first-quarter revenue between $2.03 billion and $2.07 billion, with expectations of a higher take rate and moderate nights booked growth.

Portfolio Pulse from Nabaparna Bhattacharya

March 12, 2024 | 9:47 am

GOOG

MSFT

The ongoing feud between Mark Cuban and Elon Musk extends to AI bias discussions, with Musk criticizing AI models like OpenAI's GPT-4 and Google's Gemini for bias, while Cuban argues that no AI can be bias-free and market preferences will dictate AI development. Musk has also been promoting his own AI, xAI's Grok, as unbiased. The debate includes concerns over AI content moderation filters and calls for open-sourcing AI technologies.

Portfolio Pulse from Rounak Jain

March 12, 2024 | 9:10 am

NYCB

New York Community Bancorp (NYCB) has successfully closed a $1 billion investment deal and introduced new leadership, including a former Treasury Secretary.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 6:47 am

HYZN

Hyzon Motors has launched a 200kW single stack fuel cell system and powertrain, integrated into a vehicle termed the Hyzon 200kW Prime Mover, aimed at providing zero-emissions alternatives for long-haul operators in Australia. This U.S. developed technology, unveiled at the Kangan Institute's Automotive Centre of Excellence in Melbourne, offers a smaller, lighter, and more fuel-efficient option for global applications.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 6:36 am