Streetbeat News

Corporate Responsibility

DELL

TSLA

Dell Technologies CEO Michael Dell toured Tesla's gigafactory in Texas, guided by Tesla CEO Elon Musk. The visit highlighted the Cybertruck and the impressive scale of Tesla's manufacturing hub. The two CEOs have a history of mutual respect and collaboration, dating back to 2013 when Musk attended Dell World.

Portfolio Pulse from Anan Ashraf

February 10, 2024 | 2:37 am

MSFT

SGAMY

Microsoft Corp. (NASDAQ:MSFT) has countered the Federal Trade Commission's (FTC) criticism regarding the 1,900 layoffs post-Activision acquisition, stating Activision was already planning significant layoffs prior to the merger. Microsoft criticized the FTC's claims as 'incomplete and misleading,' highlighting that the layoffs were part of pre-existing plans by Activision, aligning with broader industry trends. The tech giant also mentioned its readiness to reverse the acquisition if necessary, though deemed unlikely. The FTC's concerns are focused on antitrust issues rather than workforce implications.

Portfolio Pulse from Franca Quarneti

February 09, 2024 | 10:14 pm

SMH

The Biden-Harris Administration plans to invest over $5 billion in semiconductor-related R&D and workforce development, including in the National Semiconductor Technology Center (NSTC), as part of the CHIPS and Science Act. This investment aims to advance U.S. leadership in semiconductor R&D, reduce commercialization costs, bolster national security, and support semiconductor job creation. The NSTC, a public-private consortium, will focus on innovation, workforce development, and lowering R&D participation barriers. Additional investments include $200 million in a CHIPS Manufacturing USA Institute and up to $300 million in advanced packaging R&D.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 8:13 pm

JPM

META

MSFT

NVDA

The Biden Administration has initiated the U.S. AI Safety Institute Consortium (AISIC) with tech giants like Meta Platforms Inc, Microsoft Inc, Nvidia Corp, JPMorgan Chase, and Citigroup to establish safety standards for AI development and deployment. This consortium aims to protect the innovation ecosystem while managing risks associated with AI technologies. Key measures include watermarking AI-generated content, with companies like Meta already implementing such practices. This move aligns with global efforts to regulate AI, including the EU's guidelines to prevent AI-generated misinformation affecting democratic processes.

Portfolio Pulse from Neil Dennis

February 09, 2024 | 7:51 pm

SYBX

Synlogic Inc (NASDAQ:SYBX) stock plummeted by 48.4% to $1.78 after announcing the discontinuation of Synpheny-3, ceasing operations, and a workforce reduction of over 90%. The decision was based on an internal review suggesting the trial wouldn't meet its primary endpoint, not safety concerns. The company is exploring strategic options to enhance shareholder value, including potential acquisitions, mergers, or other transactions. Dr. Aoife Brennan, President and CEO, will leave, retaining only essential personnel for strategic review.

Portfolio Pulse from Henry Khederian

February 09, 2024 | 7:39 pm

CVE

CVX

EQNR

GOOG

MSFT

NIO

A significant milestone in nuclear fusion was achieved at the UK's Joint European Torus (JET) facility, generating a record 69 megajoules of energy. Despite the progress, practical application remains distant. The UK's future in European fusion research is uncertain post-Brexit, with plans to build the first fusion power plant. Companies like Chevron, Alphabet, Cenovus Energy, Microsoft, NIO, Eni SpA, and Equinor ASA have invested in nuclear fusion technology.

Portfolio Pulse from Vandana Singh

February 09, 2024 | 6:44 pm

CSCO

Cisco is reportedly planning to cut thousands of jobs as part of a restructuring plan, according to Reuters. This move is aimed at reducing costs and improving efficiency within the company.

Portfolio Pulse from Charles Gross

February 09, 2024 | 5:57 pm

CSCO

Cisco Systems Inc. is planning to cut thousands of jobs as part of a restructuring plan aimed at reducing costs and improving efficiency. The move is seen as a response to the changing demands of the market and the need to stay competitive.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 5:55 pm

BCS

Barclays PLC (NYSE:BCS) is set to halt direct financing of new oil and gas fields and limit lending to energy companies expanding fossil fuel production. This decision is part of its Transition Finance Framework, aimed at reducing emissions linked to bank lending and promoting greener alternatives. Barclays will also require energy sector corporate clients to present transition or decarbonization plans by January 2025, including methane reduction targets and commitments to end non-essential venting and flaring by 2030.

Portfolio Pulse from Lekha Gupta

February 09, 2024 | 5:09 pm

ABNB

BKNG

EXPE

TRIP

Travel stocks are trading lower following Expedia's Q4 results announcement and a CEO change, affecting the sector's overall performance.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 4:42 pm