Streetbeat News

Corporate Responsibility

COST

KR

Costco Wholesale Corporation (NASDAQ:COST) announced Gary Millerchip as its new CFO, effective March 15, 2024. Millerchip, previously CFO of Kroger Co (NYSE:KR), is expected to lead Costco's financials, focusing on revenue and profitability improvements. Despite potential changes, the price of Costco's iconic $1.50 hot dog and soda combo is unlikely to change, maintaining its long-standing price point despite inflation. This decision reflects Costco's commitment to value, as highlighted by a story involving Costco's founder, Jim Sinegal. The article also hints at a possible membership fee increase, a significant move since the last hike in June 2017.

Portfolio Pulse from Chris Katje

February 06, 2024 | 5:06 pm

AAPL

APTV

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GM

GOOGL

GM's Cruise faces scrutiny in California after failing to fully disclose details of an October accident involving a pedestrian. The incident has raised concerns about the safety of autonomous vehicles (AVs), impacting the reputation of Cruise and the AV industry. The California Public Utilities Commission is investigating the matter. Additionally, the AV market faces challenges as companies like Ford, Volkswagen, and Aptiv dial back on AV plans, while Apple delays its AV launch.

Portfolio Pulse from Neil Dennis

February 06, 2024 | 4:49 pm

BA

The U.S. FAA Administrator announced that an external firm is reviewing the FAA's longstanding practice of delegating some aircraft certification tasks to Boeing. This review comes amid scrutiny over the safety and regulatory compliance of Boeing's aircraft certification processes.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 4:41 pm

BA

SPR

Spirit AeroSystems' CEO announced an expected repair plan for the latest defect in the 737 model within 72 hours, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 4:27 pm

META

Meta Platforms Inc. (NASDAQ:META) is set to introduce 'Imagined with AI' labels for AI-generated images on Facebook, Instagram, and Threads to combat misinformation, especially in the election year. The labels will also apply to content created with other companies' tools. Meta is developing capabilities to identify AI-generated content and plans to enforce disclosure of AI-generated video or audio by users, with penalties for non-compliance. This move comes amid growing concerns over AI-generated misinformation, highlighted by incidents such as an AI-generated impersonation of President Joe Biden.

Portfolio Pulse from Rounak Jain

February 06, 2024 | 4:24 pm

CTLT

LLY

NVO

A Lilly executive stated the company plans to hold Catalent accountable to their contract amid gaining more information on the Novo-Catalent deal, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 4:16 pm

SUNW

Sunworks Inc (NASDAQ:SUNW) shares plummeted 52.6% to $0.10 after the company announced it is ceasing operations and has filed for Chapter 7 bankruptcy. The bankruptcy filing in the District of Delaware will lead to the liquidation of the company's assets. CEO Mark Trout and all directors resigned on the same day. The company currently has no officers or board members.

Portfolio Pulse from Henry Khederian

February 06, 2024 | 3:58 pm

ASTS

BIGC

GSK

IEP

KR

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Jim Cramer shared his views on several stocks on CNBC's 'Mad Money Lightning Round'. He is bullish on GSK plc, citing its recent legal settlement and positive momentum. Cramer is cautious about AST SpaceMobile and Kroger, due to concerns about profitability and the CFO's departure, respectively. He praised Parker-Hannifin for its strong financial performance and guidance, while dismissing BigCommerce in favor of Amazon. Cramer also expressed uncertainty about Icahn Enterprises' holdings.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 3:56 pm

MAPS

The Brooklyn Nets and NY Liberty have become the first NBA and WNBA teams to enter a sponsorship deal with a CBD brand, Mynd Drinks, as the NBA relaxes its CBD regulations. This partnership, facilitated by BSE Global, marks a significant shift in sports towards embracing wellness and recovery products. The NBA's progressive stance on cannabis, including removing it from its anti-drug testing program, opens new marketing avenues for CBD brands despite advertising restrictions. Kevin Durant's partnership with WM Technology Inc (NASDAQ:MAPS) highlights the growing acceptance of cannabis in the athletic community.

Portfolio Pulse from Patricio Liddle

February 06, 2024 | 3:39 pm

JPM

Chase announced a multi-billion dollar investment to open over 500 new branches, renovate 1,700 locations, and hire 3,500 employees by 2027. The expansion aims to provide greater access to banking in new markets, including underserved communities, and will contribute to local economic growth through construction, community investments, and hiring. Marianne Lake, CEO of Consumer & Community Banking, emphasized the commitment to the financial and overall health of the communities served.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 3:02 pm