Streetbeat News

Corporate Responsibility

GM

General Motors Co (NYSE:GM) CEO Mary Barra announced during the 2023 earnings call the company's plan to incorporate plug-in hybrid technology into select North American vehicles, alongside its commitment to eliminate tailpipe emissions from light-duty vehicles by 2035. Despite focusing on pure electric vehicles (EVs) for 2024, GM acknowledges the slowed pace of EV growth and is prepared to adjust production based on customer demand. The company had previously withdrawn its EV production target of 400,000 units for the period from 2022 to the first half of 2024.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 11:44 am

XOM

ExxonMobil announced its new MobilTM Lithium business, aiming to become a leading lithium producer for the EV market. The company plans to start production in southwest Arkansas by 2027, with a goal to supply lithium for 1M EVs per year by 2030. Their production approach promises fewer environmental impacts than traditional mining.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:34 am

HUT

Hut 8 announced the conclusion of managed services at Kearney, Nebraska, and Granbury, Texas in Q2, including a $13.57M payment made to the company. This development could indicate a strategic shift or a completion of a significant project for Hut 8, potentially impacting its financial performance and operational focus.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:34 am

PUBGY

Publicis Groupe SA (OTC:PUBGY) has agreed to a $350 million settlement over its alleged role in the opioid crisis, marking the first time an advertising firm has been held accountable in this context. The settlement, led by the New York and Colorado Attorneys General, involves eight other states and prohibits Publicis from taking on any future opioid-related projects. Publicis was accused of aiding Purdue Pharma in overprescribing opioids through misleading marketing campaigns.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 11:21 am

TSLA

Kim Dotcom claimed that the revocation of Elon Musk's $56 billion pay package by a Delaware judge is part of a campaign by the Biden government against Musk. Musk responded, acknowledging tough battles ahead. The judge ruled in favor of a Tesla shareholder who alleged fiduciary breaches in awarding Musk's pay package. Dotcom faces extradition to the U.S. over charges related to his site Megaupload.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 10:59 am

AMZN

Amazon (NASDAQ:AMZN) may continue layoffs despite strong Q4 financial results, as CFO Brian Olsavsky emphasizes cost-saving measures and careful investments. The company focuses on areas like AI, grocery, and healthcare, while also implementing significant layoffs in the past year, including in Amazon Pay and marketing divisions.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 10:23 am

META

During Meta Platforms Inc.'s (NASDAQ:META) Q4 2023 earnings call, CEO Mark Zuckerberg expressed confidence in Threads, despite its early popularity waning. He highlighted Meta's culture of experimentation and rapid learning, noting Threads now has more active users than at its launch peak. Zuckerberg also discussed Meta's focus on AI and the metaverse, mentioning upcoming broader rollouts of Meta AI, AI Studio, Business AIs, and Ray-Ban Meta smart glasses.

Portfolio Pulse from Ananya Gairola

February 02, 2024 | 8:48 am

ARKB

FBTC

KRE

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are trading higher amid fears of U.S. regional banking instability. The SPDR S&P Regional Banking ETF fell 3.12%, reflecting concerns over increased regulatory scrutiny for regional banks. Analysts predict a potential market peak for Bitcoin by October 2025, following historical trends of post-halving rallies. Cathie Wood of Ark Invest highlighted crypto assets' appreciation during banking crises as a hedge against fiat assets. Bitcoin ETFs, including ARKB and FBTC, continue to see significant volume despite recent market corrections.

Portfolio Pulse from Shivdeep Dhaliwal

February 02, 2024 | 6:28 am

AAPL

AMZN

META

TEAM

TSLA

Tech giants Apple, Meta Platforms, Amazon, Atlassian, and Tesla were in focus as U.S. stocks closed higher, driven by their earnings releases. Apple and Meta beat earnings expectations, Amazon reported a revenue increase, Atlassian surpassed earnings and sales forecasts but saw its stock decline, and Tesla announced a shareholder vote on moving its incorporation to Texas.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 3:15 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ: TSLA), has urged companies to change their state of incorporation from Delaware, citing the state's resistance to such changes as seen in the case of John Malone. Musk highlighted Delaware's attempt to prevent Malone from moving to Nevada and suggested companies consider Nevada or Texas instead. This comes after a Delaware judge revoked Musk's $56 billion pay package, leading to Musk's recommendation against incorporating in Delaware. Tesla is considering moving its state of incorporation to Texas, where it is physically headquartered, following a shareholder vote influenced by a Twitter poll.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 3:05 am