Streetbeat News

Products Services

XOM

Exxon Mobil Corp's CEO Darren Woods defended the company's investment in carbon capture technology at the COP28 climate summit, rejecting the IEA's claim that it's an 'illusion' for fighting climate change. Woods compared carbon capture's potential to that of electric vehicles and solar energy, emphasizing that no current solution is sufficient to solve the climate crisis alone. Exxon plans to invest $17 billion in low-carbon initiatives, including carbon capture, and maintains that fossil fuels will remain important through 2050. This marks Woods' first attendance at a U.N.-sponsored climate summit, indicating a shift in the oil and gas industry's approach to climate change.

Portfolio Pulse from Lekha Gupta

December 04, 2023 | 2:52 pm

GOOG

GOOGL

MSFT

TSLA

Larry Page and Elon Musk's friendship ended after a debate on AI's threat to humanity. Page, co-founder of Alphabet Inc., accused Musk, co-founder of Tesla Inc., of being a 'speciesist' for preferring humans over AI life forms. Musk, concerned about AI's potential to eliminate humanity, tried to prevent DeepMind's acquisition by Google but failed. He later co-founded OpenAI, backed by Microsoft Corp., but left due to similar concerns and has called for a pause in AI development.

Portfolio Pulse from Rounak Jain

December 04, 2023 | 2:49 pm

VALN

Valneva SE reported that 24 months after vaccination with a single dose of its chikungunya vaccine IXCHIQ, 97% of participants retained neutralizing antibodies. The vaccine was FDA approved in November 2023. The data supports long-term durability and supplements existing FDA approval and ongoing regulatory processes. No safety concerns were identified, and EMA and Health Canada are reviewing marketing applications. Valneva's stock (VALN) is down 3.69% at $11.08.

Portfolio Pulse from Vandana Singh

December 04, 2023 | 2:34 pm

GTBP

GT Biopharma has submitted an Investigational New Drug (IND) application for GTB-3650, a treatment targeting CD33+ leukemia. This submission marks a significant step in the development process, potentially leading to clinical trials and eventual FDA approval if successful.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:30 pm

CIFR

Cipher Mining's stock (CIFR) is trading higher following a production update for November. The increase is also attributed to a surge in Bitcoin prices over the weekend.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:28 pm

CIFR

Cipher Mining Inc (NASDAQ:CIFR) shares rose after the company reported mining 433 bitcoin in November, selling 391 and holding 558. With 70,000 rigs and a 7.2 EH/s hash rate, CEO Tyler Page highlighted operational improvements. The stock's rise also correlates with Bitcoin's price increase, up over 5% in the last 24 hours.

Portfolio Pulse from Adam Eckert

December 04, 2023 | 2:27 pm

CIFR

Cipher Mining reported its November 2023 operational update, revealing that the company mined 433 Bitcoin. Additionally, the average monthly network hash rate increased by approximately 6.5% month over month.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:27 pm

MCOM

Micromobility.com Inc. (NASDAQ:MCOM) CEO Salvatore Palella addresses shareholders, outlining strategic initiatives for profitability and market expansion. The company is pivoting to branded retail and profitable sharing services, with significant cost reductions in Q2. They are introducing Long-Term Rentals (LTR) in key cities and integrating fintech payment solutions, with plans to expand retail outlets in various U.S. cities. MCOM is negotiating a loan leveraging IP and pursuing M&A activities, focusing on profitable growth. The CEO acknowledges past challenges, particularly in the media business segment, and emphasizes a commitment to financial sustainability and shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:17 pm

HIMS

Hims & Hers Health, Inc. (NYSE:HIMS) has launched 'Weight Loss by Hims & Hers', a personalized and affordable weight management program. The program includes medication management, digital tracking tools, and educational content. Obesity medicine expert Dr. Craig Primack has joined as SVP of Weight Management. The program addresses nutrition, behavior, movement, and medical treatment, and offers a holistic approach to weight loss. It is the company's second major category expansion following the launch of Heart Health by Hims.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:16 pm

COIN

MARA

RIOT

Shares of Coinbase Global Inc (COIN), Marathon Digital Holdings Inc (MARA), and Riot Platforms Inc (RIOT) are rising due to an increase in Bitcoin's price over the weekend, surpassing $40,000. The crypto rally is driven by optimism for a potential spot Bitcoin ETF and expectations of a Federal Reserve rate cut in 2024. Coinbase shares are up nearly 9%, Marathon Digital's stock rose 13.6%, and Riot Blockchain's shares increased by 11.7%.

Portfolio Pulse from Adam Eckert

December 04, 2023 | 2:15 pm