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Corporate Responsibility

NIO

NIO Inc. (NYSE:NIO) shares dropped over 2% in premarket trading after a 12% gain in the previous session. The decline follows the resignation of director James Gordon Mitchell and the appointment of Eddy Georges Skaf and Nicholas Paul Collins as new directors. NIO reported a 18.2% year-over-year increase in vehicle deliveries for January 2024, with a total of 10,055 vehicles delivered. The company also announced strategic partnerships with JAC Group and Chery Automobile for battery swapping.

Portfolio Pulse from Nabaparna Bhattacharya

February 07, 2024 | 10:39 am

TSLA

Billionaire investor Leon Cooperman commented on Tesla CEO Elon Musk's compensation, calling him a genius but overcompensated following the Delaware Chancery Court's rescinding of Musk's 2018 compensation plan. Cooperman, whose hedge fund does not hold Tesla stock, criticized excessive executive compensation in general. Meanwhile, Ark Invest's Cathie Wood defended Musk's pay, and investor Gary Black suggested the dispute could lead to Musk gaining more control in Tesla. Tesla's stock rose 2.23% to $185.10.

Portfolio Pulse from Shanthi Rexaline

February 07, 2024 | 9:22 am

MSBHF

X

Mitsubishi Corp (OTC:MSBHF) shares reached a record high after announcing a $3.4B share buyback plan. The company's strong financial performance and strategic decisions, including ceasing automobile production in China, have contributed to its success. Warren Buffett's Berkshire Hathaway holds 8.3% of Mitsubishi's stock. The company is considering future investments in the U.S., influenced by the upcoming election.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 9:11 am

GM

GOOGL

A California judge recommended that GM's Cruise increase its settlement offer by 1.5x in a case involving a severe accident with a pedestrian by a Cruise autonomous taxi. The incident led to the suspension of Cruise's license by the California DMV, which accused Cruise of withholding information. The judge suggested a maximum penalty of $112,500, considering Cruise's initial offer of $75,000 as low. Meanwhile, Alphabet's Waymo is advancing with its robotaxi launch in Los Angeles.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 8:36 am

FCX

Freeport-McMoRan announced the appointment of Kathleen L. Quirk as President and Chief Executive Officer, effective June 11, 2024. This strategic leadership change is expected to guide the company into its next phase of growth and development.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:29 am

CRM

Salesforce Inc's (NYSE:CRM) top executive, Srini Tallapragada, has reportedly warned employees about potential financial consequences, including withholding stock grants and bonuses, if they fail to meet the 'ranger' rank on the company's internal training platform, Trailhead. Despite the company's ongoing layoffs as part of cost-cutting measures, 91.4% of employees have achieved the ranger status. This comes as Salesforce faces pressure from investors, including Elliott Management, to improve margins.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 5:15 am

DIS

Elon Musk has escalated his criticism of The Walt Disney Co (NYSE:DIS) over its diversity standards, alleging 'institutionalized racism and sexism' and offering legal aid to those discriminated against. The controversy stems from a leaked 'Inclusion Standards' memo, which Musk shared, detailing diversity criteria for Disney productions. Musk's critique follows his support for Gina Carano's legal battle against Disney and Lucasfilm, and his broader criticism of diversity and inclusion policies in various industries.

Portfolio Pulse from Ramakrishnan M

February 07, 2024 | 3:52 am

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, expressed concerns about Tesla Inc's (NASDAQ:TSLA) leadership and board, citing Elon Musk's alleged drug use and party culture as distractions for investors. These issues, according to Gerber, overshadow deeper execution problems at Tesla, such as underperforming stock and the need to deliver on promised initiatives. Despite Musk's denial of the allegations, Gerber believes these distractions could deter institutional investors and impact the company's progress.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 1:55 am

FEAM

HCC

LYSCF

MP

5E Advanced Materials supports adding boron to the U.S. Critical Mineral List, highlighting its strategic importance for energy and defense. Lynas Rare Earths ends discussions with MP Materials regarding a potential transaction. Warrior Met Coal publishes its 2023 sustainability report, showcasing significant improvements in safety and emissions reductions.

Portfolio Pulse from Austin DeNoce

February 06, 2024 | 11:44 pm

DIS

TSLA

Tesla Inc's CEO Elon Musk is supporting actress Gina Carano in her lawsuit against The Walt Disney Company and Lucasfilm after her firing from 'The Mandalorian' series. Carano's lawsuit, inspired by Musk's offer to fund legal representation for those fired over Twitter posts, comes ahead of Disney's Q1 earnings report and amidst an activist shareholder battle and issues with Florida Gov. Ron DeSantis. Musk has publicly encouraged joining the lawsuit against Disney, which has not commented on the matter.

Portfolio Pulse from Chris Katje

February 06, 2024 | 10:55 pm