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Corporate Responsibility

JPM

JPMorgan Chase & Co. (NYSE:JPM) faces 45 billion hacking attempts daily, a figure that has doubled since last year. CEO Mary Erdoes highlighted the bank's $15 billion annual technology spend and workforce of 62,000 technologists, emphasizing cybersecurity. CEO Jamie Dimon considers cyber attacks the biggest threat to the U.S. financial system, leading JPMorgan to employ more engineers than tech giants like Google or Amazon. Despite a correction stating the 45 billion figure includes all observed activity, the threat is taken seriously, especially after a massive data breach in 2014. Cyber insurance costs have also risen sharply, with rates increasing significantly in 2021 and 2022.

Portfolio Pulse from Caleb Naysmith

January 24, 2024 | 2:39 pm

AMZN

GOOGL

META

MSFT

NVDA

A leaked draft of the EU's AI Act suggests tight timelines and high compliance costs, potentially stifling innovation and disadvantaging startups. Intellectual property lawyers believe this could benefit US AI firms like Microsoft, Amazon, Nvidia, Facebook, and Google, which operate under a more lenient regulatory framework. The EU's first-mover approach in AI regulation may inadvertently strengthen the US's position in the AI industry.

Portfolio Pulse from Neil Dennis

January 24, 2024 | 2:37 pm

BITF

Bitfarms Ltd (NASDAQ:BITF) shares are trading higher after the company announced the purchase of land for a new 100 MW production facility in Yguazu, Paraguay. The facility, expected to be completed in the second half of 2024, aims to support Bitfarms' goal of achieving a corporate hashrate of 21 EH/s by the end of 2024. The project will utilize low-cost renewable hydropower, with over 85% of Bitfarms' portfolio to be powered by green energy. The company anticipates that the new facility will improve hashrate, energy efficiency, and cost per Bitcoin, positioning Bitfarms to benefit from potential Bitcoin price increases and the upcoming Halving event. Bitfarms shares were up 4.46% at $2.11 at the time of writing.

Portfolio Pulse from Adam Eckert

January 24, 2024 | 2:25 pm

BB

BlackBerry Ltd (NYSE:BB) stock is trading lower after the company announced a proposed private offering of $160 million in Convertible Senior Notes due 2029, aimed at qualified institutional investors. The company also plans to offer an option to purchase up to an additional $25 million of the notes. The proceeds are intended to repay or repurchase $150 million of outstanding debentures due next month, with any remainder for general corporate purposes. At the time of publication, BB shares were down 10.1% at $3.17.

Portfolio Pulse from Adam Eckert

January 24, 2024 | 2:15 pm

AAPL

Apple Inc. (AAPL) is set to charge fees for apps sideloaded on iPhones and iPads in Europe, in response to the EU's Digital Markets Act. This policy will allow sideloading but with Apple's oversight and fee collection from developers for non-App Store downloads. The move could stir further tension with developers and is seen as Apple's effort to maintain control over app sales.

Portfolio Pulse from Rounak Jain

January 24, 2024 | 2:14 pm

GD

General Dynamics Corp's CFO announced during a conference call that the company expects capital expenditures (Capex) to be between 2%-2.5% of sales next year and to stabilize closer to 2% in the following years.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 2:11 pm

HWH

HWH International Inc. (NASDAQ:HWH) provided an update on its business operations since becoming a public company. The update highlighted the stability and growth of its food and beverage division, particularly the Hapi Cafe brand, with outlets across Asia. HWH plans to expand its presence, launch membership sales with exclusive benefits, and seek collaborations for nutritious meal prep services. The Executive Chairman, Mr. Chan Heng Fai, expressed excitement for the future and upcoming promotions and events.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 2:11 pm

NEPT

Neptune Wellness Solutions Inc. (NASDAQ:NEPT) has appointed Stifel Nicolaus Canada Inc. as the exclusive financial advisor for its organic baby food and toddler brand, Sprout Organics. Stifel will provide financial advisory, investment banking services, and strategic advice for reviewing divestiture alternatives for Sprout Organics. Initially, Neptune had plans for a spinoff of Sprout Organics, but is now considering different strategies with Stifel's guidance to maximize shareholder value. Neptune is committed to keeping stakeholders informed throughout the process.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 2:08 pm

APEI

Graduate School USA (GSUSA) has been chosen for a pilot initiative aimed at training and upskilling financial managers across federal agencies. GSUSA provides over 200 courses designed to assist in the career development of 140,000 federal employees.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 2:05 pm

EQIX

Equinix, Inc. (NASDAQ:EQIX) has launched a fully managed private cloud service featuring NVIDIA DGX AI supercomputing infrastructure. This service is designed to help enterprises build and manage custom generative AI models. It includes NVIDIA's systems, networking, and AI Enterprise software platform, and is available in Equinix's IBX data centers globally. The service targets industries like biopharma, financial services, and retail, aiming to accelerate innovation and AI application development while ensuring data security and compliance.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 2:02 pm