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Corporate Responsibility

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Intel Corp (INTC) has received a favorable non-binding opinion from Advocate General Laila Medina of the EU's Court of Justice in its antitrust case against the EU. The opinion supports Intel's position that the EU failed to prove Intel abused its market dominance to hinder rivals like AMD. This follows a 2022 ruling that annulled a 2009 European Commission decision which fined Intel for illegal rebates to PC makers. The Commission has reimposed a minor fine on Intel, which Intel is appealing. The article also mentions meetings between EU regulators and executives from other Big Tech companies, including Apple (AAPL), Alphabet (GOOG, GOOGL), and Qualcomm (QCOM), to discuss regulatory compliance. Additionally, the EU is scrutinizing Big Tech mergers, such as Microsoft's (MSFT) support for OpenAI and Amazon's (AMZN) merger with iRobot (IRBT).

Portfolio Pulse from Anusuya Lahiri

January 18, 2024 | 2:49 pm

DIS

Activist investor Nelson Peltz has disclosed the sale of half of his stake in The Walt Disney Company at a price of $113 per share. This move comes amidst Peltz's ongoing efforts to secure a seat on Disney's board, which the company has resisted. The sale could signal a shift in Peltz's strategy or confidence in the company's direction.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:48 pm

DIS

Nelson Peltz, an activist investor, has criticized the Disney Board for their lack of significant share ownership, implying a lack of commitment to the company. Peltz's comments suggest he believes board members should have more at stake to align their interests with shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:32 pm

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The European Commission has sent data requests to 17 tech companies, including Apple, Amazon, Microsoft, and Meta, under the EU's Digital Services Act (DSA). These companies, categorized as very large online platforms (VLOP) and search engines, are required to provide information by Feb. 9 about measures taken to allow researcher access to data for EU and national elections and to combat illegal content and goods online. The DSA, effective since last year, mandates stricter actions against illegal content and public security threats. This is part of the EU's efforts to protect user data and promote fair competition, amidst increased antitrust scrutiny of big tech firms.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 2:31 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) has announced an upsized private placement offering, raising approximately $35 million through the sale of 8,158,510 units at $4.29 each. Each unit includes one common share and one warrant, either series A or B, which allows the holder to purchase additional shares at $4.83. The funds will be used to pay down debt, for working capital, and other corporate purposes. This follows a significant debt reduction and cost-cutting by the company since the start of fiscal 2023. The private placement is expected to close on January 19, 2024. Canopy's shares saw a pre-market drop of 2.78% to $4.55.

Portfolio Pulse from Jelena Martinovic

January 18, 2024 | 2:24 pm

DIS

Nelson Peltz, an activist investor, has commented that Disney's theme parks require additional capital investment due to intensifying competition in the industry. Peltz's statement suggests that he believes Disney needs to enhance its theme park offerings to maintain its competitive edge.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:22 pm

DIS

Nelson Peltz, an activist investor, has criticized Disney's board for underperforming the S&P 500 on every measure. Peltz is likely pushing for changes in the company's strategy or governance to enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:21 pm

DIS

Trian Fund Management has filed a preliminary proxy statement with the SEC for the nomination of Nelson Peltz and James A. Rasulo to the Disney board. This move indicates an active effort by Trian to influence the governance of Disney, potentially aiming for strategic changes at the company.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:19 pm

Citi has partnered with LuminArx Capital to launch a strategic private lending vehicle named Cinergy. LuminArx has committed over $2 billion of capital to support Cinergy. This initiative will enable Citi's Spread Products franchises to provide a wider range of asset-backed and corporate capital solutions to its global clients.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:09 pm

KIQ

Kelso Technologies Inc. is establishing a Phase-One production facility in West Kelowna, BC, Canada, through its subsidiary KIQ X Industries. The facility will convert heavy-duty vehicles using the Company's proprietary Automated Traction Optimization Method for Vehicle Suspension Systems, targeting customers operating in extreme terrain environments. The Method is a specialized ADAS software system for commercial wilderness applications and is now compliant for sales. The Phase-One facility, which does not require new capital, is expected to generate approximately $25 million of annual revenue starting in late 2024 and can scale up to $100 million per year. Kelso Technologies focuses on safety technology solutions for various wilderness-related industries.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:03 pm