Streetbeat News

Corporate Responsibility

DSWL

Deswell Industries, Inc. (NASDAQ:DSWL) announced the unanimous election of Ms. Lau Wai Ming as Chairman of the Board, effective February 19, 2024. She was elected to the Board by shareholders at the 2023 Annual Meeting on February 6, 2024.

Portfolio Pulse from Charles Gross

February 26, 2024 | 6:02 pm

DIS

The Disney Board of Directors has issued a letter to shareholders, emphasizing the progress and fulfillment of promises as the company undergoes a strategic transformation. The board explicitly stated its non-endorsement of the Trian Group nominees, Nelson Peltz and Jay Rasulo, as well as the nominees from Blackwells.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:44 pm

KR

The FTC has blocked the proposed merger between Kroger Co. (KR) and Albertsons Companies, a decision Kroger argues will harm consumers and workers by preventing lower prices and more choices in groceries. Kroger contends that the merger would have led to significant investments in price reductions and store improvements, as well as increased wages and benefits for workers. The company also highlights its commitment to community support and argues that blocking the merger benefits larger, non-unionized retailers. Kroger plans to litigate the FTC's decision in court.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:41 pm

GOOGL

JPM

MSFT

SPY

In a CNBC interview, Jamie Dimon, CEO of JP Morgan, expressed significant optimism about the future of AI, indicating potential strategic directions for JP Morgan and possibly influencing the broader market's view on AI investments.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:21 pm

JPM

KBE

KRE

SPY

XLF

In a CNBC interview, Jamie Dimon of JP Morgan expressed concerns about future market conditions, despite a current rise in market confidence. He suggested that allowing smaller banks to merge could be beneficial.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:17 pm

BA

An independent panel has found a significant 'disconnect' between Boeing's senior management and its employees regarding the company's safety culture, according to a report cited by Reuters. This revelation could have implications for Boeing's reputation and operational practices moving forward.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:03 pm

AAPL

SSNLF

Steve Jobs initially envisioned the iPhone with an iPod-like flip design and clickwheel, inspired by Samsung's flip phone. This concept evolved into the iconic glass slab design with a touchscreen, revolutionizing the smartphone industry and leading Apple to become the world's biggest smartphone maker, surpassing Samsung.

Portfolio Pulse from Rounak Jain

February 26, 2024 | 4:35 pm

MSFT

Microsoft has announced its 'AI Access Principles' at the Mobile World Congress, committing to major investments, partnerships, and programs to foster innovation and competition in the AI economy. These principles guide Microsoft's operation of AI datacenter infrastructure and assets globally, aiming to empower organizations and individuals with broad technology access. The company has launched $5.6 billion in AI datacenter investments and AI skilling programs reaching over a million people, alongside public-private partnerships for responsible AI adoption and cybersecurity. Microsoft's partnership with OpenAI and the new partnership with France's Mistral AI are highlighted, emphasizing support for AI developers and ensuring choice and fairness in the AI economy. The principles also address societal responsibilities, including cybersecurity, responsible AI standards, AI skilling initiatives, and environmental sustainability of AI datacenters.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 4:32 pm

MRK

OGN

New York Attorney General Letitia James has requested the FDA to investigate the safety of the asthma and allergy medication Singulair (montelukast), particularly its neuropsychiatric side effects in children. Despite a 'black box' warning added in 2020, there are concerns about the adequacy of current warnings, especially for pediatric patients. Merck & Co Inc (MRK), the original manufacturer, and Organon Inc (OGN), which now markets Singulair, are highlighted due to the drug's significant revenue and the lawsuits alleging they downplayed psychiatric risks.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 3:56 pm

PDD

PDD Holdings' stock (NASDAQ:PDD) fell nearly 3% pre-market on Feb. 26 due to fears of a potential US import ban on its subsidiary Temu, amid allegations of forced labor connections in Xinjiang, China. Despite a 73% gain in 2023, PDD stock is down 12.7% this year. US lawmakers are considering adding Temu to the Uyghur Forced Labor Prevention Act violators list, which could significantly impact PDD's investment value and Temu's US market presence.

Portfolio Pulse from Surbhi Jain

February 26, 2024 | 3:31 pm