Streetbeat News

Products Services

HYMTF

Hyundai Motor Group's Executive Chair Euisun Chung visited India to discuss the company's mid- to long-term mobility strategies, aiming to solidify its position as a leading mobility provider. The group plans to increase Hyundai Motor India's annual production to one million units by 2025 and, combined with Kia India, reach a total annual production capacity of 1.5 million units. The visit also focused on expanding the electrification strategy to strengthen leadership in the Indian EV market, including increasing local EV production and creating an EV ecosystem. A town hall meeting was held to share visions and strengthen trust with employees, attended by approximately 400 local employees in person and over 3,000 via video.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:18 am

AAPL

META

Mark Zuckerberg announced Meta's shift towards developing AI 'agents' over chatbots, emphasizing their ability to handle complex tasks. Gene Munster predicts Apple will pursue a similar AI strategy. Despite Meta's Q1 2024 revenue increase, its stock fell 17% post-announcement due to higher AI development costs. Meta's shares dropped 15.1% after hours.

Portfolio Pulse from kaustubh@benzinga.com

April 25, 2024 | 6:58 am

IBRX

ImmunityBio's QUILT 3.055 trial for ANKTIVA in combination with checkpoint inhibitors shows promising results in NSCLC patients, nearly doubling median overall survival compared to standard chemotherapy. The trial's success across PD-L1 negative and positive participants highlights ANKTIVA's potential as an immune cell enhancer. A meeting with the FDA is scheduled for June to discuss ANKTIVA's registration for NSCLC. Additionally, a $100 million non-dilutive cash infusion upon ANKTIVA's approval will boost the company's cash reserves to $240 million, aiding the launch in NMIBC and supporting its role in future clinical trials.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 6:57 am

DOOO

BRP's subsidiary, Juniper Re, has entered into a multi-year collaboration with ICEYE to enhance flood and wildfire data analysis. This partnership aims to improve risk assessment and disaster response through ICEYE's satellite technology.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 6:46 am

BYDDF

BYDDY

BYD, backed by Warren Buffett's Berkshire Hathaway, is entering the luxury EV market with the Denza Z9GT sedan, challenging luxury automakers like Mercedes-Benz. This move comes as BYD aims to compete with global leaders and increase profitability amidst a price war in the EV sector. The company has also unveiled a high-end electric supercar and its first electric pickup truck, marking significant steps in its strategy to redefine luxury in the EV space and move beyond its low-cost image.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 6:44 am

AAPL

SPOT

Spotify Technology SA's attempt to update its iOS app in the EU was blocked by Apple Inc. due to non-compliance with App Store rules, specifically the new regulations under the Digital Markets Act. Apple requires apps to accept the terms of the Music Streaming Services Entitlement for EEA storefronts, which Spotify's update failed to do. This comes after Spotify reported a 20% year-over-year increase in revenue for the first quarter of 2024, with significant margin improvements.

Portfolio Pulse from Ananya Gairola

April 25, 2024 | 6:43 am

AMZN

Jeff Bezos, founder of Amazon and Blue Origin, shared his unconventional approach to productivity on the Lex Fridman Podcast, emphasizing the importance of allowing his mind to wander during meetings to foster creativity and problem-solving. He believes in 'messy meetings' without strict schedules to enhance productivity, creativity, and happiness. This approach aligns with his innovative thinking and risk-taking, demonstrated by his financial success and strategic investments in 2023, including a significant increase in net worth and strategic stock sales.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 6:40 am

AAPL

Jim Cramer, host of CNBC's 'Mad Money,' has highlighted the potential of Apple Inc.'s Vision Pro to revolutionize the industrial sector, particularly through its application in digital twin technology. Despite a reduced sales forecast for the Vision Pro, Cramer believes its $3,500 price tag is undervalued given its potential to significantly reduce waste and improve efficiency in factory construction and other industrial applications. Cramer remains bullish on the product's success, citing Apple's ability to sell 400,000 units as a strong indicator.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 6:38 am

NVDA

Nvidia Corp. CEO Jensen Huang personally delivered the first DGX H200 GPU to OpenAI, symbolizing the strong partnership between Nvidia and OpenAI. The donation of the H200 GPU, announced alongside the GB200 AI super chip in March, is aimed at advancing AI, computing, and humanity. The H200 GPU is a significant upgrade over its predecessor, offering 1.8 times the memory and 1.4 times the bandwidth, while the GB200 AI superchip is vastly faster than the DGX-1 supercomputer donated in 2016.

Portfolio Pulse from Rounak Jain

April 25, 2024 | 6:32 am

SQ

Block Inc's CEO, Jack Dorsey, announced a new feature for Square merchants to automatically convert a percentage of their daily sales into Bitcoin. This feature, available in the U.S., allows conversions from 1-10% of sales into Bitcoin via the Cash App, with Block taking a 1% fee. The move expands Block's cryptocurrency offerings, following the launch of its Bitcoin wallet, Bitkey. However, this announcement follows a 10% workforce reduction at Block in January 2024.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 2:30 am