Streetbeat News

Corporate Responsibility

TSLA

SpaceX, owned by Elon Musk, has filed to change its incorporation location from Delaware to Texas, following a similar move by Neuralink. This decision comes after a Delaware court ordered Tesla to revoke Musk's 2018 pay package. Musk has been vocal about his dissatisfaction with the Delaware court and has urged other companies to relocate from Delaware. Neuralink recently moved its incorporation from Delaware to Nevada. Additionally, SpaceX announced a controlled descent of about 100 Starlink satellites due to a potential issue.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 1:04 am

ASTL

Algoma Steel announced the completion of repair work and the restart of its blast furnace, resuming steel production on February 11, 2024, after a structure collapse at its coke-making plant on January 20, 2024. The company has strengthened its operations through these essential repairs.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:05 pm

AMPE

Ampiolans announced plans to take immediate actions to preserve its cash to ensure it can fund any options identified by its Board. The company's management and Board are assessing both internal and external options.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:00 pm

TGL

Treasure Global announces plans to expand higher-margin revenue channels in the second half of 2024, indicating a strategic move to enhance profitability.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 10:05 pm

INTC

Intel is set to provide updates on its foundry business and process roadmap at the IFS Direct Connect event on Feb. 21 in San Jose, California. The event will feature a keynote by CEO Pat Gelsinger and other senior executives, with appearances by U.S. Secretary of Commerce Gina Raimondo and Microsoft CEO Satya Nadella. The focus will be on transforming the foundry industry for the AI era. The event will also include talks from leaders in the semiconductor and AI industries, including OpenAI CEO Sam Altman.

Portfolio Pulse from Happy Mohamed

February 14, 2024 | 9:44 pm

QS

QuantumScape, a leader in the development of solid-state lithium-metal batteries for electric vehicles, has announced the appointment of Siva Sivaram as its new CEO. Sivaram, who has a strong background in technology and innovation, is expected to steer QuantumScape through its next phase of growth and development.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 9:40 pm

GOOGL

OpenAI has developed a web search product, positioning itself as a competitor to Google in the search engine market. This move by OpenAI could potentially disrupt the dominance of Google in the search industry.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 9:36 pm

ATER

Aterian announced a fixed cost reduction plan, aiming to cut its workforce by 21 employees and 27 contractors, expecting to save around $4.0 million annually.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 9:33 pm

META

Meta Platforms announced the election of Hock E. Tan and John Arnold to its board of directors, aiming to leverage their expertise in silicon and energy infrastructure to advance its AGI ambitions. Tan brings extensive experience from Broadcom and other tech firms, while Arnold offers insights from his work in energy and public systems through Arnold Ventures and Grid United.

Portfolio Pulse from Happy Mohamed

February 14, 2024 | 9:24 pm

MS

Morgan Stanley (NYSE:MS) is planning to cut hundreds of jobs in its wealth management division, as part of cost-cutting measures by new CEO Ted Pick due to a slowdown in growth. The layoffs will target a mix of roles, including managing directors and non-client-facing staff. This move comes after the firm's major acquisitions, including E*Trade, and as the wealth management division, which manages around $5 trillion in assets and contributes to nearly half of Morgan Stanley's revenue, experiences stagnant growth and a decrease in net new assets.

Portfolio Pulse from Michael Cohen

February 14, 2024 | 9:24 pm