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GOOGL

Google has partnered with Desarrollo País of Chile and Office of Posts and Telecommunications of French Polynesia to announce Humboldt, a new subsea cable route connecting Chile, French Polynesia, and Australia. This is the first direct connection between South America and the Asia-Pacific region. Humboldt will enhance digital connectivity across the Pacific, interconnecting with the South Pacific Connect initiative and supporting Chile's digital transformation strategy. The project reflects Google's commitment to digital infrastructure investment in Latin America, complementing other projects like the Google data center in Quilicura and the Curie subsea cable. The cable is expected to boost economic growth and job creation, with an estimated increase in GDP of $178 billion and 740,000 jobs in Latin America and the Caribbean by 2027.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 3:09 pm

SPY

TSLA

Tesla Inc (NASDAQ:TSLA) announced pay increases for U.S. production associates, material handlers, and quality inspectors, which sent its stock prices down. The exact raise amount was not disclosed. This follows pay increases by other nonunion automakers in the U.S. The United Auto Workers (UAW) has been attempting to organize Tesla and other manufacturers. Tesla has faced labor unrest and criticism from the UAW, and CEO Elon Musk has been critical of unions while emphasizing cost-cutting. Tesla's stock performance last year outpaced the SPDR S&P 500 ETF (SPY), but shares traded lower by 2.12% at $228.91 on Thursday.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 2:58 pm

VIAV

VIAVI Solutions has been awarded a $21.7 million grant from the U.S. National Telecommunications and Information Administration to fund its Automated Lab-as-a-Service for Open RAN over a three-year period. This grant is expected to support VIAVI's efforts in the development and deployment of Open RAN technologies.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:32 pm

COIN

ETCUSD

HPE

MSTR

RIOT

Ethereum Classic surged 34% following the SEC's approval of Bitcoin ETFs, outperforming BTC and ETH. The global electric vehicle market saw a 31% increase in sales in 2023. Cathie Wood discussed her personal Bitcoin holdings and the SEC's decision. Jim Cramer commented on the potential market reaction to the ETF approval. Crypto-related stocks like Riot Blockchain, Coinbase, and MicroStrategy are trending due to the Bitcoin Spot ETF spotlight. In other news, Trump discussed his potential 2024 running mate, and a study predicted a $1 trillion boost to the US economy from generative AI. Samsung, Apple, Amazon, and HP Enterprise made headlines in tech, while the electric vehicle and consumer sectors also featured notable updates.

Portfolio Pulse from Akanksha Bakshi

January 11, 2024 | 2:17 pm

TSLA

Tesla Inc. has increased the wages for its factory workers in the United States, a move that comes amid growing momentum for unionization efforts by the United Auto Workers (UAW). The pay raise is seen as a strategy to address workers' concerns and potentially mitigate the influence of the UAW, which has been gaining traction among Tesla employees. The decision to boost pay could improve employee satisfaction and retention, while also impacting labor costs for the company.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:12 pm

MA

Mastercard is developing an AI tool called Mastercard Small Business AI to provide personalized, real-time assistance to small business owners. The tool aims to offer mentorship and guidance, addressing the challenges faced by entrepreneurs. It will utilize Generative AI for a conversational experience and draw on diverse content sources, including a global media coalition with Blavity Media Group, Group Black, Newsweek, and TelevisaUnivision. The AI tool will be piloted in the U.S. and is planned to expand internationally. Mastercard's commitment to small businesses is reinforced by this initiative, which complements their suite of business solutions.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:12 pm

ESGL

ESGL Holdings Limited (NASDAQ:ESGL) has established a new subsidiary, ESG Chemicals Sdn Bhd, in Malaysia to expand its market presence in the ASEAN region. The subsidiary will focus on trading and distributing circular products manufactured by ESGL and is expected to bring cost savings and favorable exchange rates, positively impacting the company's bottom line. The move aligns with ESGL's commitment to environmental sustainability and corporate responsibility.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:10 pm

CHPT

ChargePoint Holdings Inc (NYSE:CHPT) announced a reorganization that includes a 12% workforce reduction, aiming for long-term growth. The company expects $14 million in restructuring charges but anticipates $33 million in annual operating expense savings. CEO Rick Wilmer emphasized a focus on execution, operational excellence, and efficiency. ChargePoint has $397 million in cash and equivalents and aims for positive non-GAAP adjusted EBITDA by Q4 2024. The stock rose 3.09% to $2.01 following the news.

Portfolio Pulse from Adam Eckert

January 11, 2024 | 2:10 pm

DLPN

Dolphin Entertainment, Inc. (NASDAQ:DLPN) has completed the formation of its 'Super Group' with the acquisition of Special Projects in Q4 2023. CEO Bill O'Dowd's letter to shareholders highlights the company's strategic initiatives, including accelerated synergies and cross-selling in core businesses, expansion into new verticals like skin care/cosmetics/beauty, and receiving equity stakes in marketed assets. Dolphin anticipates the premiere of the 'Blue Angels' documentary, the launch of a celebrity-partnered product, and the announcement of owned or co-owned live events. These ventures are expected to contribute to long-term growth and increased shareholder value without requiring cash investment from Dolphin.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:09 pm

CMG

HD

KR

LOW

TGT

WMT

Walmart Inc has temporarily closed around a dozen stores due to power outages from a severe winter storm on the East Coast. The storm has affected over 90 million people, causing power outages for 811,000 homes and businesses. Walmart reported minimal business impact as customers stocked up on essentials. Home Depot Inc experienced a brief closure at one store, Lowe's Companies Inc is operating some stores on backup power, and Chipotle Mexican Grill Inc adjusted store hours with isolated closures. Target Corp and Kroger Co have not reported significant operational impacts. Lowe's is dispatching critical supplies to affected areas. Walmart's stock is slightly down in premarket trading.

Portfolio Pulse from Shivani Kumaresan

January 11, 2024 | 2:05 pm