Streetbeat News

Legal

MCHI

Chinese exporters at the Canton Fair are facing challenges despite China's 5.3% economic growth in Q1, including a decline in exports and producer prices. Increased economic and political tensions with the U.S., global trade slowdowns, and manufacturing overcapacity are key issues. Some sectors, like high-tech, remain optimistic due to government support. Trade tensions could worsen with potential U.S. tariffs and blacklisting of Chinese companies. The iShares MSCI China ETF (MCHI) saw a 1.02% dip.

Portfolio Pulse from Benzinga Neuro

April 17, 2024 | 12:58 pm

XPER

Xperi Inc. has issued a letter to its stockholders, urging them to vote for its five director nominees at the upcoming Annual Meeting on May 24, 2024. The letter highlights Xperi's transformation from a semiconductor IP licensing company to a consumer entertainment technology company, focusing on connected TV advertising, streaming television, and in-vehicle infotainment. Xperi's board and management have driven this change, notably through acquisitions like DTS and the merger with TiVo. The company has seen five consecutive quarters of year-over-year revenue growth and expects continued growth and margin expansion. Xperi is contesting Rubric Capital's campaign to replace two directors, arguing that Rubric's nominees lack relevant experience and could hinder the company's progress.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 12:35 pm

ANGI

DRCT

EA

GDC

T

The article highlights the top 5 oversold tech and telecom stocks in the communication services sector, based on their RSI values being near or below 30. These include Angi Inc. (ANGI), Direct Digital Holdings, Inc. (DRCT), AT&T Inc. (T), Electronic Arts Inc. (EA), and GD Culture Group Limited (GDC). The stocks have seen significant price drops over the past month, presenting potential buying opportunities for undervalued companies.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 12:20 pm

TSLA

Tesla Inc (NASDAQ:TSLA) is requesting its shareholders to re-vote on CEO Elon Musk's previously voided $47 billion pay package, following a Delaware court's decision to void it earlier this year. The board's proposals also include changing Tesla's state of incorporation from Delaware to Texas. The court had described Musk's compensation as 'an unfathomable sum,' but Tesla's board and some shareholders view the voiding as unfair, given Musk's significant contributions to the company's growth and stockholder value without compensation for the past six years.

Portfolio Pulse from Anan Ashraf

April 17, 2024 | 11:13 am

ADSK

Autodesk's shares dropped following the announcement that it will miss the deadline to file its Annual Report on Form 10-K for the fiscal year ended January 31, 2024. This delay is due to an ongoing internal investigation by the Audit Committee.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:10 am

CPRI

TPR

Capri Holdings shares are trading lower after reports emerged that the FTC is preparing to sue to block Tapestry's acquisition of the company. This legal challenge could potentially derail the takeover, affecting Capri Holdings' stock performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 10:41 am

CPRI

TPR

The Federal Trade Commission (FTC) is reportedly preparing to sue to block Tapestry's proposed $8.5 billion acquisition of Capri Holdings, a major fashion deal that could significantly impact the luxury fashion industry.

Portfolio Pulse from Charles Gross

April 17, 2024 | 10:37 am

F

Ford is recalling 456,565 vehicles in the U.S. due to a risk of losing drive power from an undetected low battery, as reported by Reuters and citing the National Highway Traffic Safety Administration (NHTSA).

Portfolio Pulse from Charles Gross

April 17, 2024 | 9:49 am

GOOG

GOOGL

Marc Andreessen criticized Google's internal issues, including employee protests and security breaches involving AI chip designs. He highlighted the risks of AI safety and the need for urgent regulatory measures. Elon Musk supported Andreessen's concerns, emphasizing the dangers of AI. Google faces internal dissent over its cloud contract with the Israeli government, affecting employee morale.

Portfolio Pulse from Rounak Jain

April 17, 2024 | 9:37 am

NAK

The U.S. Army Corps of Engineers (USACE) has declined to engage in the permit remand process for Northern Dynasty, following a veto by the Environmental Protection Agency (EPA).

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 7:33 am