Streetbeat News

Corporate Responsibility

HUT

Hut 8 Mining Corp. has announced the closure of its Drumheller site as part of its efforts to streamline operations. This move is aimed at optimizing the company's operational efficiency and reducing costs.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 11:38 am

EL

TGT

Bloomberg reported that a chemical linked to cancer has been found in several acne creams, including brands like Proactiv, Clearasil, and products from Target Corp.'s Up & Up and Clinique. This discovery could potentially impact the reputation and sales of these brands.

Portfolio Pulse from Charles Gross

March 06, 2024 | 11:21 am

HMC

MZDAY

TM

Toyota Motor Corp (NYSE:TM) is expected to present a pay hike offer to its workers' union on March 13, amid ongoing wage negotiations without an initial offer. The union seeks a 7.6-month bonus and an undisclosed wage increase. This negotiation is part of Japan's annual spring wage talks, with significant implications for the country's economy and monetary policy. Honda Motor Co Ltd (NYSE:HMC) and Mazda Motor Corp (OTC:MZDAY) have already agreed to wage increases, aligning with Prime Minister Fumio Kishida's push for wage growth to surpass inflation.

Portfolio Pulse from Shivani Kumaresan

March 06, 2024 | 10:43 am

IBM

IBM has launched a new Cyber Response Training Facility in Washington DC, aimed at enhancing cybersecurity capabilities.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 10:31 am

MSFT

Elon Musk continues his criticism of OpenAI, urging the company to change its name due to its refusal to open-source its AI technology. This follows OpenAI's official response to Musk's lawsuit, which accuses the company and its CEO of prioritizing profits over open-source principles, specifically pointing to Microsoft Corp. (NASDAQ:MSFT) as a major investor benefiting from this strategy. Musk, who has founded his own AI startup, xAI, emphasizes the importance of adhering to OpenAI's founding open-source principles.

Portfolio Pulse from Rounak Jain

March 06, 2024 | 9:19 am

VSH

Vishay Intertechnology, Inc. (VSH) has acquired Nexperia's Newport Wafer Fab in South Wales, U.K. for $177 million in cash. The facility, an automotive-certified, 200mm semiconductor wafer fab, is the UK's largest, with a capacity of over 30,000 wafers per month. Vishay intends to transform the facility into a manufacturing excellence center focusing on Net Zero Transformation, emphasizing decarbonization and electrification.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:16 am

SSNC

Circulate Capital, an ESG investor, has appointed SS&C Technologies Holdings, Inc. (SSNC) as its fund administrator to further its environmental impact goals. This partnership aims to enhance the management and administration of funds dedicated to environmental sustainability.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:05 am

META

Meta Platforms Inc. (NASDAQ:META) employees are experiencing anxiety over potential layoffs as the company's 'Year of Efficiency' initiative becomes a permanent strategy. Despite recent financial successes, including a record-high stock price and increased bonuses, the fear of job cuts persists. Meta has already reduced its workforce by 22% in the past 18 months, and ongoing reorganizations could lead to further layoffs. Employees are given three months to find new positions within the company or face termination, with those receiving lower performance ratings offered severance to leave without a formal Performance Improvement Plan.

Portfolio Pulse from Ananya Gairola

March 06, 2024 | 5:55 am

DIS

Jim Cramer has advised investors to be cautious with Walt Disney Co (NYSE:DIS) stock, which has hit a 52-week high, due to concerns over the sustainability of its recent rally. Disney is currently facing a proxy battle with activist investor Nelson Peltz, and despite efforts to revitalize its film slate, Cramer suggests trimming positions in Disney stock.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 4:52 am

DIS

Nelson Peltz of Trian Fund Management is leading an activist battle against Walt Disney Co (NYSE:DIS), aiming to 'restore the magic' by addressing the company's underperformance. Trian's plan includes refining Disney Parks strategy, developing a direct-to-consumer strategy, improving accountability, and enhancing cost structure. Trian criticizes Disney's late entry into streaming, poor acquisitions, and suggests a CEO succession plan. Disney faces another activist challenge from Blackwells Capital, suggesting a spin-off of real estate holdings and investment in virtual/augmented reality. Disney's annual meeting on April 3 is highly anticipated amid these activist battles.

Portfolio Pulse from Chris Katje

March 05, 2024 | 11:52 pm