Activist Investors Call on Apple to Address Youth Phone Addiction
Apple under fire after two Apple investors urged the company to step up and play a bigger role in managing smartphone overuse and addiction. David Benoit, Activism Reporter at The Wall Street Journal, was with us to discuss why Jana Partners has decided to push Apple to develop tools and research the effects of smartphone overuse by young people.
Benoit says the investors aren’t saying its necessarily Apple’s responsibility to monitor phone usage. Instead, he thinks they believe that Apple could play an important role in acknowledging that they aren’t sure what the impact of all this phone usage will be, but could score points by giving parents the option to monitor usage.
Activist investors typically focus on things like buybacks and acquisitions. Benoit says this move by Jana Partners to take a stance on corporate responsibility is very different. He thinks following Jana's advice could help protect Apple from potential backlash on teen iPhone usage. In addition, Benoit says goodwill could help drive future sales if consumers feel Apple made a phone that is safe for kids.
U.S. markets opened lower as disappointing Meta earnings dragged down the tech-heavy Nasdaq. Today, investors will be watching for Amazon's Q4 earnings report set for release after the market close. Greg Swenson, Founding Partner, Brigg Macadam joined Cheddar's Opening Bell to discuss.
Johan Grahn, Head of ETF Strategy at Allianz Investment Management, breaks down the major risks to the markets including how the FED may react to upcoming CPI data.
Markets opened mostly higher led by gains in the tech sector on strong Q4 earnings. It comes after a tumultuous January which saw stocks suffer one of their worst months since the early days of the pandemic. Jim Worden, Chief Investment Officer, Wealth Consulting Group joined Cheddar's Opening Bell to discuss early market activity.
Adam Coons, Portfolio Manager at Winthrop Capital Management, talks about the last jobs data, and breaks down the future of social media and tech platforms.
Women's health company Organon will give its over 9,000 employees a paid day off on International Women's Day.
The move comes as the company aims to recognize the growing health inequities women have faced during the Covid-19 pandemic. Kevin Ali, Chief Executive Officer, Organon joined Cheddar's Opening Bell to discuss.
CLMBR is hoping to become the next big thing in connected fitness. The brand offers a high intensity, low impact workout with on-demand, instructor-led classes. Avrum Elmakis, CLMBR's CEO and founder, joined Cheddar to discuss where the company is heading next.
