Streetbeat News

Corporate Responsibility

DATS

DatChat (NASDAQ:DATS) plans to spin off its Habytat AI Gaming platform business into a new standalone public company. DatChat, which owns about 75% of SmarterVerse, Inc., will distribute its shares to DatChat shareholders. The spin-off aims to focus on DatChat's core social media ecosystem, My Family Museum, and unlock shareholder value. The distribution is subject to SEC registration and regulatory approvals. DatChat recently launched HabyPets, an AI-powered game, and a developer program on its Habytat metaverse.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:01 pm

PROC

Procaps Group notified shareholders of incorrect online voting instructions for its General Meeting on January 22, 2024. A third party mistakenly stated that the Board recommended voting 'for' the proposals, which was not the case. The company is investigating and correcting the error.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:52 pm

ABBV

CCI

MPC

SYK

On CNBC's 'Halftime Report Final Trades,' analysts recommended Crown Castle Inc. (CCI), Marathon Petroleum Corporation (MPC), Stryker Corporation (SYK), and AbbVie Inc. (ABBV). CCI announced a review of its Fiber business and new board members. MPC appointed new executives. SYK received a higher price target from RBC Capital. ABBV announced a collaboration with Umoja Biopharma. CCI's stock was flat, while MPC, SYK, and ABBV saw gains in their last trading session.

Portfolio Pulse from Avi Kapoor

January 16, 2024 | 1:51 pm

VZ

Verizon Communications Inc. (NYSE:VZ) has agreed to a $100 million settlement in a class-action lawsuit regarding undisclosed 'Administrative and Telco Recovery Charges.' Eligible current and former Verizon subscribers can file claims on the settlement website until April 15, 2024, to receive compensation between $15 and $100. Verizon denies wrongdoing but has settled to avoid further litigation.

Portfolio Pulse from Rounak Jain

January 16, 2024 | 1:42 pm

DMTK

DermTech has decided to discontinue the optional TERT promoter mutation testing add-on for its melanoma test after the Trust 2 Study showed that the foundational gene expression assay alone has a negative predictive value (NPV) of 99.7%. The study indicated that adding TERT mutation testing did not significantly improve the test's sensitivity, NPV, or positive predictive value (PPV).

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:30 pm

COYA

Coya Therapeutics has expanded its pipeline for COYA 302 to include treatments for Frontotemporal Dementia and Parkinson's Disease, due to the shared inflammatory pathways and Treg cell dysfunction in these diseases. COYA 302 is a combination immunotherapy targeting multiple pathways, potentially overcoming the immune challenges in these conditions. The company reassures its cash runway into 2026 and provides a positive update on milestones and catalysts for 2024.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:27 pm

TIL

Instil Bio has entered into an agreement with a collaborator to conduct preclinical manufacturing feasibility studies for its ITIL-306 program. Additionally, the company has announced the closure of its manufacturing and clinical operations in the UK.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:26 pm

EGO

Eldorado Gold Corporation (NYSE:EGO) shares are trading lower in premarket after reporting Q4 gold production of 143,166 ounces and full-year production of 485,140 ounces, which met the midpoint of its guidance range. The company saw increased production in Canada and Turkiye, with a slight decrease in Greece. EGO will release full Q4 and FY23 results on February 22, 2024, and has recently appointed a new CFO, Paul Ferneyhough.

Portfolio Pulse from Lekha Gupta

January 16, 2024 | 1:18 pm

STLA

SIXT and Stellantis have announced a multi-billion euro agreement for SIXT to purchase up to 250,000 Stellantis vehicles by 2026 for its rental fleet in Europe and North America. The deal includes a variety of vehicle classes and propulsion types, including battery electric vehicles (BEVs), and aligns with both companies' decarbonization strategies. Deliveries will start in Q1 2024. The partnership also explores cooperation in data services and aims to enhance customer experience with connected vehicles and streamlined rental processes. Stellantis aims for a 100% BEV sales mix in Europe and 50% in the US by 2030, while SIXT targets a 70-90% electrified fleet in Europe by 2030.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:12 pm

AME

AMETEK, Inc. has announced the appointment of Dalip Puri as Executive Vice President and CFO, effective April 2, 2024. Puri will succeed William Burke, who currently holds the position. This executive transition is part of the company's leadership succession planning.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:03 pm