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Corporate Responsibility

AMZN

TSLA

The IF Metall union in Sweden has proposed a compromise to end the nearly three-month-long strike against Tesla Inc. by suggesting Tesla adopt a strategy similar to Amazon.com Inc's when it entered the Swedish market. The union recommends hiring a contractor with a pre-existing collective agreement. Despite the strike, Tesla's operations in Sweden have shown resilience with over 20,000 cars registered in the past year.

Portfolio Pulse from Benzinga Neuro

January 05, 2024 | 9:18 am

AAPL

Apple Inc.'s suppliers have spent $16 billion since 2018 to reduce reliance on Chinese manufacturing due to trade conflicts, COVID-19 disruptions, and energy issues. The diversification includes shifting production to India, Mexico, the U.S., and Vietnam. Despite these efforts, China remains a key production hub for iPhones, but Apple plans to increase iPhone production in India to over 50 million units annually within a few years. Chinese restrictions on Apple products are expanding, potentially affecting sales in China.

Portfolio Pulse from Ananya Gairola

January 05, 2024 | 8:53 am

005930.KS

TSLA

Samsung Electronics Co., Ltd. has announced a partnership with Tesla Inc. to integrate SmartThings Energy with Tesla's Powerwall, Solar Inverter, Wall Connector, and electric vehicles. The integration, facilitated by Tesla's open APIs, aims to enhance home energy management and monitoring through both Samsung devices and the Tesla app. This move aligns with Samsung's Net Zero Home project and is expected to launch in Q2 2024.

Portfolio Pulse from Benzinga Neuro

January 05, 2024 | 8:24 am

F

TSLA

Tesla CEO Elon Musk congratulated Ford CEO Jim Farley on Ford's 2023 EV sales achievements. Ford sold 72,608 EVs in the U.S., an 18% increase, with the Mustang Mach-E, F-150 Lightning, and E-transit van as key contributors. The F-150 Lightning became the best-selling electric truck, while the Mach-E is second in the SUV category after Tesla's Model Y. Ford's total U.S. vehicle sales reached nearly 2 million, a 7% increase, with hybrids up by 25%. Tesla sold 1.8 million EVs globally but did not break down regional sales.

Portfolio Pulse from Anan Ashraf

January 05, 2024 | 7:17 am

HMC

TSLA

Elon Musk, CEO of Tesla, suggested that Honda's recent recall of over 2.5 million vehicles due to a fuel pump failure received minimal media coverage due to Honda's substantial advertising budget. Musk's comments came in response to a Tesla enthusiast's remark on the disparity in media attention compared to Tesla's software update 'recall' for over 2 million vehicles. The financial figures for advertising expenses are not explicitly disclosed in the companies' income statements.

Portfolio Pulse from Anan Ashraf

January 05, 2024 | 5:46 am

SMG

Scotts Miracle-Gro Foundation has donated $100,000 to the ACHEM Freedom Initiative to support legal cannabis users. The initiative, led by ACHEM and in partnership with NABCL, aims to provide resources and training for healthcare and legal professionals to defend medical marijuana patients' rights. Scotts Miracle-Gro (NYSE:SMG) shares were slightly up following the news.

Portfolio Pulse from Joana Scopel

January 04, 2024 | 11:05 pm

ALVR

AlloVir's Board has approved a drastic workforce reduction of approximately 95% to cut costs and preserve capital, following the discontinuation of its three global Phase 3 posoleucel studies. The reduction is set to occur mainly in Q1 2024, with expected completion by April 15, 2024. AlloVir anticipates incurring about $13 million in restructuring charges due to employee termination costs, predominantly within Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 10:27 pm

RTX

RTX has announced leadership changes with Phil Jasper named as President of Raytheon, succeeding Wesley D. Kremer who will retire at the end of Q1 2024. Additionally, Troy Brunk and Heather Robertson have been appointed as president and COO of Collins Aerospace's Mission Systems, respectively, and Nathan Boelkins as president of Collins Aerospace's Avionics unit.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 10:16 pm

ANY

Sphere 3D has sold its subsidiary HVE to its former President Joseph O'Daniel for a nominal amount, aligning with its shift towards the cryptocurrency sector. This transaction led to O'Daniel's resignation and a revised compensation agreement, as disclosed in an SEC 8K filing.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:25 pm

ALLO

Allogene Therapeutics announced a refined approach of the 2024 Platform Vision, which includes a streamlined trial footprint and focused pipeline prioritization. This strategy will lead to a planned restructuring of resources in Q1 2024, aimed at reducing cash burn and extending the financial runway into 2026. The company will provide full 2024 guidance in its Q4/YE 2023 quarterly call.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:12 pm