Streetbeat News

Corporate Responsibility

MNSO

MINISO has changed its fiscal year-end from June 30 to December 31 to improve financial alignment. This adjustment is expected to provide a more standardized comparison with peers and align with the calendar year, which could enhance financial reporting and planning.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 6:33 am

NKLA

TSLA

Tesla Inc's executive Rohan Patel criticized government incentives for hydrogen use, aligning with CEO Elon Musk's skepticism. Patel called it an 'illogical government addiction' influenced by industry lobbying, despite investments in clean hydrogen production. Musk has previously dismissed hydrogen as an energy storage method, while competitors like Nikola Corp. see it as a viable energy source.

Portfolio Pulse from Anan Ashraf

January 17, 2024 | 4:45 am

BTCUSD

XRPUSD

Ripple CEO Brad Garlinghouse criticized SEC Chair Gary Gensler's approach to crypto regulation at the World Economic Forum in Davos. Garlinghouse called Gensler a 'political liability' and expressed concerns about the U.S. falling behind in crypto regulation. He mentioned the possibility of an IPO for Ripple but stated it is not an immediate priority. Garlinghouse also commented on the approval of Bitcoin ETFs and the potential for other crypto-based ETFs.

Portfolio Pulse from Mehab Qureshi

January 17, 2024 | 3:54 am

META

Meta CEO Mark Zuckerberg has been ordered to participate in a deposition for a Texas court case concerning Meta's alleged misuse of facial recognition technology. The lawsuit, filed by Texas Attorney General Ken Paxton, claims Meta illegally collected biometric data of Texans without consent, violating the state's Deceptive Trade Practices Act. This follows previous controversies and settlements by Meta over biometric data issues.

Portfolio Pulse from Ananya Gairola

January 17, 2024 | 3:15 am

BA

BRK

Boeing Co's (NYSE:BA) recent grounding of 171 of its 737 Max 9 aircraft due to a door incident may negatively affect Precision Castparts, a subsidiary of Warren Buffett's Berkshire Hathaway Inc (NYSE:BRK). Precision Castparts, a key supplier to Boeing, has previously experienced production delays due to issues with Boeing's 737 Max and 787 programs. The ongoing problems with Boeing's aircraft could further strain its operations and relationships with suppliers like Precision Castparts.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 2:47 am

AAPL

Epic Games CEO Tim Sweeney plans to challenge Apple Inc.'s compliance plan following a Supreme Court ruling that requires Apple to allow alternative payment options in its App Store. Apple's new policy allows for alternative payment links but still requires in-app purchases through the App Store, with a commission of 27% for alternative platform purchases, slightly reduced from the previous 30%. Sweeney criticizes the policy as 'anticompetitive,' particularly the requirement for a generic browser session for purchases and the use of a 'scare screen' to deter users from alternative platforms.

Portfolio Pulse from Ananya Gairola

January 17, 2024 | 2:27 am

MSFT

NYT

OpenAI CEO Sam Altman has dismissed the need for substantial training data from publishers like The New York Times Co. (NYT) amidst a copyright infringement lawsuit. Altman stated that OpenAI does not want to train on NYT data and is instead seeking partnerships with publishers to provide current news to users. The lawsuit, which alleges damages in the billions, is one of several legal challenges OpenAI faces, including class-action lawsuits from various writers. Despite this, OpenAI has secured content deals with the Associated Press and Axel Springer SE.

Portfolio Pulse from Ananya Gairola

January 17, 2024 | 1:27 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), expressed his desire to increase his voting control in Tesla to around 25% to be more influential in advancing AI and robotics within the company. Musk currently owns 12.97% of Tesla shares and could own up to 20.6% with the exercising of options. His comments come amid concerns about potential conflicts of interest with his AI company, xAI, and discussions about his compensation at Tesla. Musk has sold Tesla shares in the past to fund the acquisition of Twitter, now called X. Analyst Daniel Ives of Wedbush views keeping AI initiatives within Tesla as crucial to the company's future.

Portfolio Pulse from Chris Katje

January 16, 2024 | 11:04 pm

WATT

Energous Corporation (NASDAQ:WATT), a leader in RF-based wireless power network solutions, has appointed Mallorie Burak as its new CFO effective January 15, 2024. She replaces Susan Kim van-Dongen, who stepped down from the interim CFO position on the same date.

Portfolio Pulse from Charles Gross

January 16, 2024 | 10:15 pm

DIS

The Walt Disney Company (NYSE:DIS) has announced its slate of 12 director nominees for election at its 2024 Annual Meeting of Shareholders. The Board of Directors unanimously recommends shareholders to vote for the listed nominees, which include prominent figures such as Mary T. Barra and Robert A. Iger. The announcement was made in preliminary proxy materials filed with the SEC.

Portfolio Pulse from Charles Gross

January 16, 2024 | 10:11 pm