Streetbeat News

Corporate Responsibility

HUGE

GBB Drink Lab. Inc's lawsuit against FSD Pharma (NASDAQ:HUGE) for violating a Non-Disclosure Agreement and attempting to launch GBB's product without permission will proceed, as a federal court has refused to dismiss the case. The court recognized the economic value of GBB's trade secrets and the impact of FSD Pharma's actions on potential investors.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:17 pm

EBAY

eBay Inc. has agreed to pay a $3 million criminal penalty for a 2019 cyberstalking campaign against a Massachusetts couple and for obstructing the subsequent investigation. eBay was charged with stalking and obstruction of justice, and has entered into a deferred prosecution agreement. The company admitted to the facts and will have a corporate compliance monitor for three years. Seven former eBay employees or contractors were convicted, with sentences ranging from home confinement to 57 months in federal prison.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:43 pm

FSLR

First Solar, Inc. (NASDAQ:FSLR) shares dropped on Thursday despite the inauguration of its new 3.3 GW solar manufacturing plant in Tamil Nadu, India. The facility represents a $700 million investment and is the first fully vertically integrated solar manufacturing plant in India. It is also the world's first net-zero water withdrawal solar manufacturing facility. The plant will create approximately 1,000 jobs and produce Series 7 PV solar modules, optimized for the Indian market, using a tellurium-based semiconductor to reduce reliance on Chinese silicon supply chains.

Portfolio Pulse from Nabaparna Bhattacharya

January 11, 2024 | 5:11 pm

MSFT

Microsoft Corp. announced new generative AI and data solutions for retailers, enhancing the Microsoft Cloud for Retail. These solutions include copilot templates on Azure OpenAI Service for personalized shopping experiences, retail data solutions in Microsoft Fabric, copilot features in Dynamics 365 Customer Insights, and the launch of Retail Media Creative Studio. The AI tools aim to improve customer engagement, store associate productivity, and marketing campaign effectiveness. Canadian Tire Corp. plans to launch an AI shopping assistant using Azure OpenAI Service. Microsoft Experience Centers will also implement copilot templates for store associates. New features in Dynamics 365 Customer Insights and Retail Media Creative Studio will be available for preview in early 2024.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 4:01 pm

FMST

TMST

USAU

U.S. Gold Corp. (USAU) provided an update on its CK Gold Project, expecting permit approval and feasibility study completion in H1 2024, with the project being shovel-ready in H2 2024. The company anticipates environmental and economic benefits for Wyoming, and sees unrecognized asset value in Nevada and Idaho, with a positive market outlook for copper and gold. TimkenSteel (TMST) announced a rebranding to Metallus Inc., reflecting its growth commitment and vision for the future in the high-performance metals industry. Foremost Lithium (FMST) received a multi-year work permit for its Jean Lake Lithium/Gold Project, allowing for streamlined exploration and a 15-hole drilling program, aiming to advance resource development and enhance shareholder value.

Portfolio Pulse from Austin DeNoce

January 11, 2024 | 3:54 pm

ALK

EADSY

UAL

Boeing's 737 Max 9 (NYSE:BA) fleet is grounded again, affecting airlines United (NASDAQ:UAL) and Alaska (NYSE:ALK). This adds to Boeing's struggles since the market crash during Covid and the previous global grounding after two fatal crashes in 2019. Boeing's CEO emphasized the need for quality over quantity in an all-hands meeting. The FAA has rejected Boeing's inspection standards proposal, and the planes will remain grounded until new standards are set. Boeing's stock may dip further, but a successful resolution could make it a buy. Airbus (OTC:EADSY) stands to benefit if Boeing fails to resolve its issues as airplane demand grows.

Portfolio Pulse from Thrash Capital

January 11, 2024 | 3:13 pm

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