Streetbeat News

Corporate Responsibility

WMS

Advanced Drainage Systems announced a collaboration with Rainwater Management Solutions (RMS) to advance sustainable stormwater solutions in the US and Canada. This partnership aims to enhance the development and implementation of eco-friendly water management practices.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 11:05 am

FEAM

FLR

5E Advanced Materials has chosen Fluor Corporation as the EPC contractor for process engineering work on the FEL-2 phase of its development. This selection is a step forward in the progress of 5E Advanced Materials' project.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 11:02 am

AAPL

AMZN

GOOG

GOOGL

META

Meta Platforms Inc. (META) has eliminated the technical program manager role at Instagram, affecting 60 employees, and is considering similar cuts across other departments. This aligns with CEO Mark Zuckerberg's 'Year of Efficiency' focus. Other tech giants like Amazon (AMZN), Google (GOOG/GOOGL), and Apple (AAPL) have also initiated layoffs, with Amazon cutting 5% of its 'Buy with Prime' staff, Google laying off over 1,000 employees, and Apple planning to dissolve a 121-member AI team in San Diego.

Portfolio Pulse from Rounak Jain

January 19, 2024 | 10:11 am

ARKK

JPM

Cathie Wood, CEO of ARK Invest, countered JPMorgan Chase CEO Jamie Dimon's negative remarks on Bitcoin, highlighting its robust hash rate and the significant computer network backing it. Despite Dimon's comparison of Bitcoin to a 'pet rock', Wood emphasized the strength of Bitcoin's technology and its market performance, with a surge of over 100% in the past year. Wood also disclosed that Bitcoin comprises at least 25% of her personal net worth, excluding her stakes in Ark and real estate.

Portfolio Pulse from Mehab Qureshi

January 19, 2024 | 6:06 am

TSLA

Elon Musk, CEO of Tesla and SpaceX, is set to visit the Auschwitz concentration camp to address antisemitism amid criticism over the spread of hateful content on his social media platform, X (formerly Twitter). The visit is part of a two-day event organized by the European Jewish Association, starting on Monday, with Musk also engaging in dialogue with Ben Shapiro in Krakow. Musk's acquisition of Twitter and the subsequent increase in antisemitic content on the platform have led to an advertising boycott by major companies.

Portfolio Pulse from Ananya Gairola

January 19, 2024 | 5:43 am

AAPL

AMZN

GOOG

Amazon's premium AI voice assistant project, 'Remarkable Alexa,' faces internal disputes and technical issues, leading to potential delays. Despite testing with 15,000 customers, Alexa's performance is underwhelming, often providing inaccurate or evasive responses. The project's viability is questioned internally, especially regarding the feasibility of a subscription model for Alexa. This comes as Alexa trails behind Google Assistant and Siri in user numbers. Amazon previously faced legal issues with Alexa, including a $30M settlement over privacy concerns and criticism for spreading false election information.

Portfolio Pulse from Ananya Gairola

January 19, 2024 | 5:14 am

AAPL

Apple Inc. is targeting the healthcare, aircraft repair, and education sectors with its upcoming mixed-reality headset, Vision Pro. Executives discussed its potential uses, such as improving surgical outcomes and providing high-quality training. Apple offers a 25% employee discount on Vision Pro and covers prescription lenses. The device has received FCC approval but won't support Wi-Fi 6E. Apple's expansion into various sectors with Vision Pro is part of its strategy to make mixed reality a significant revenue stream.

Portfolio Pulse from Ananya Gairola

January 19, 2024 | 4:55 am

AAPL

GOOG

GOOGL

META

NFLX

SPOT

YouTube (owned by Alphabet Inc.) and Spotify Technology SA have decided not to launch apps for Apple Inc.'s upcoming mixed-reality headset, Vision Pro. This follows Netflix Inc.'s earlier decision to not participate. Major apps like Disney+, HBO Max, Peacock, ESPN, and Amazon Prime Video will be available on Vision Pro. The lack of support from YouTube, Spotify, and Netflix could impact Apple's strategy for the device, which is focused on video and entertainment. The Vision Pro, priced at $3,499, is set to launch on Feb. 2 with pre-booking starting on Friday. The device recently received FCC approval but will not support Wi-Fi 6E.

Portfolio Pulse from Ananya Gairola

January 19, 2024 | 1:44 am

BEDU

Bright Scholar (NYSE: BEDU) announced the resignation of Hongru Zhou as CEO due to personal reasons. Zhou will continue as Chairperson. Ruolei Niu, previously CFO, has been appointed as the new CEO, and Hui Zhang, former financial director, is now the CFO, effective January 18, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 11:03 pm

WMT

Walmart has increased the average salary for U.S. store managers from $117,000 to $128,000 annually. This move reflects the company's commitment to investing in its workforce and retaining talent in a competitive labor market. The salary hike is part of Walmart's broader strategy to improve working conditions and benefits for its employees.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:55 pm