Streetbeat News

Corporate Responsibility

CHT

Chunghwa Telecom Co. anticipates a revenue increase of 2.4%-3.1% YoY for 2024, with expected revenues between NT$228.54B and NT$230.19B. The company projects an EPS of NT$4.60-NT$4.80. Operating costs are also expected to rise by 4.0%-4.6%, leading to a potential decrease in income from operations. Investments in 5G, data centers, submarine cables, and ESG practices are driving an increase in property, plant, and equipment acquisitions.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:12 am

SPGI

S&P Dow Jones Indices (S&P DJI) has been chosen by PenSam, a Danish pension provider, to create a custom climate-focused index using S&P DJI's beS&P Index service. This service allows clients to collaborate on index-based solutions tailored to their specific needs, incorporating proprietary exclusions and targeted exposures.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 8:09 am

BAC

IBM

IBM has issued a directive to its remote managers in the U.S. to either relocate to be within 50 miles of an office or client location and report to work at least three days a week or leave the company. The policy, which tracks office attendance through badge-in data, must be complied with by the start of August. This move reflects CEO Arvind Krishna's belief in the importance of on-site work and comes after IBM's announcement in May to replace nearly 8,000 jobs with AI, primarily in back-office roles. Bank of America Corp has implemented a similar policy regarding office attendance.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 7:46 am

F

U.S. House committees have requested the Biden administration to investigate four unnamed Chinese companies linked to Ford Motor's (NYSE:F) upcoming Michigan battery plant. Concerns involve ties to the Chinese military, the Chinese Communist Party, North Korea, and human rights issues in Xinjiang. The plant, announced in partnership with Chinese battery maker CATL, aims to strengthen Ford's position in the electric vehicle market despite recent challenges, including a UAW strike.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 7:37 am

AAPL

Apple Inc. (AAPL) is opposing UK government's proposed amendments to the Investigatory Powers Act, which could allow the Home Office to pre-approve or reject new security features, affecting global privacy and security. Apple has previously threatened to withdraw iMessage and FaceTime from the UK and joined other tech giants in opposing the Online Safety Bill. The amendments will be debated in the House of Lords.

Portfolio Pulse from Rounak Jain

January 30, 2024 | 7:34 am

HOLI

Hollysys Automation Technologies has rejected a takeover proposal from Dazheng Investment Group due to concerns over financing and instability in the consortium. The Special Committee of Hollysys endorses the deal with Ascendent, challenging the recommendations of proxy advisory firms ISS and Glass Lewis. Hollysys plans to release updated proxy materials detailing recent engagement with Dazheng.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 6:45 am

WMT

Walmart Inc (NYSE:WMT) is set to offer annual stock grants valued up to $20,000 to store managers, potentially pushing their total compensation above $525,000. This follows recent pay and bonus raises, with the new compensation structure starting February 1, raising the average base salary for U.S. store managers to $128,000. The maximum bonus has also increased, with a Supercenter manager able to earn up to $530,000 including bonuses and stock grants. Walmart's move aligns with tech industry trends of offering equity grants and follows their wage increase announcement last year. The company also expanded its drone delivery service but faced criticism over a gift card fraud network.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 2:39 am

AAPL

MSFT

SPOT

Microsoft's Xbox President, Sarah Bond, criticized Apple's new EU App Store rules, aligning with previous disapproval from Spotify and Epic Games. Apple's policy includes a 'Core Technology Fee' for apps using third-party app stores and retains a 17% commission for third-party payment processors. The European Commission will review Apple's changes in March, while the tech community has expressed concerns over the policies' impact on competition and openness.

Portfolio Pulse from Ananya Gairola

January 30, 2024 | 2:38 am

MSFT

OpenAI, backed by Microsoft Corporation (NASDAQ:MSFT), is facing charges of privacy law violations in Italy. The Italian privacy regulator has concluded that ChatGPT's data collection methods infringe upon the country's privacy laws. OpenAI has 30 days to respond to the findings. This adds to the existing privacy controversies surrounding ChatGPT. In March 2023, Italy banned ChatGPT over privacy concerns but provided conditions for resuming operations in April 2023. OpenAI experienced internal turmoil in November 2023 with the firing and reinstatement of CEO Sam Altman, and in December, introduced a 'Preparedness Framework' to grant the board authority over Altman's decisions.

Portfolio Pulse from Ananya Gairola

January 30, 2024 | 1:37 am

ICRT

Instacart (NASDAQ:ICRT) has integrated AI into its recipe generation, resulting in viral, often unappetizing outcomes. The AI-generated images and text for recipes on Instacart's website have been criticized for their odd appearances. Over 8,000 recipes have an AI disclosure. Despite a successful IPO and stock surge, partly due to acquisition speculation by Uber, this controversy could harm Instacart's image and user experience. The legal aspects of AI-generated imagery are also uncertain.

Portfolio Pulse from Ananya Gairola

January 30, 2024 | 1:29 am