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Corporate Responsibility

BNGO

Bionano Genomics, Inc. (NASDAQ:BNGO) announced a peer-reviewed publication from a clinical study supporting optical genome mapping (OGM) as part of standard care in genetic disease testing. The study showed a 99.5% concordance rate for pathogenic variants against standard methods and an increased detection rate of 6% to 50% for pathogenic variants with OGM. The study suggests OGM could streamline workflows, reduce costs, and be considered a first-tier method for postnatal genetic disorders.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:04 pm

EMKR

EMCORE Corporation has entered into a cooperation agreement with Bradley L. Radoff and appointed Cletus C. Glasener as the new Chairman of the Board. Jeffrey J. Roncka also joins the board. Concurrently, Stephen L. Domenik stepped down, and the board size was increased to six members. Additionally, EMCORE will amend and restate the charter for its Strategy and Alternatives Committee.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:02 pm

Senate Commerce Committee Chair Cantwell expressed concerns about the FAA's oversight effectiveness regarding Boeing's airplane production for safe operation.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:47 pm

AMZN

BABA

GOOG

GOOGL

MSFT

SPY

Google has eliminated fees for customers migrating from Google Cloud to competitors like Amazon or Microsoft, a move that could prompt similar actions from these companies. This change comes amid regulatory scrutiny over switching penalties. Google's VP, Amit Zavery, noted that while these fees are a small part of total costs, they are a regulatory and customer concern. Google also aims to shift regulatory focus to Microsoft's practices that limit customers' ability to use Google Cloud. Google recently announced layoffs in its hardware and digital assistant teams and is reallocating resources to focus on priority investments. Additionally, Google is testing limits on cookie usage in Chrome, impacting the online advertising industry. Last year, Google's stock outperformed the SPDR S&P 500 ETF, Amazon, and Microsoft.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:21 pm

CVS

TGT

CVS Health plans to close several of its pharmacies located within Target stores between February and April. The decision is part of CVS Health's strategic adjustments to its retail pharmacy footprint.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 7:49 pm

HTZ

TSLA

UBER

Hertz Global Holdings Inc plans to reduce its global EV fleet by one-third, selling about 20,000 EVs to purchase more ICE vehicles in response to customer demand, lower margins, and higher damage costs associated with EVs. The decision follows Tesla's price cuts, which led to increased depreciation costs for Hertz. Despite the reduction, Hertz's collaboration with Uber remains successful, and the company expects the fleet adjustment to be a net positive.

Portfolio Pulse from Adam Eckert

January 11, 2024 | 7:44 pm

BLK

SCHW

Vanguard has decided against offering a U.S. spot Bitcoin ETF, citing the asset's volatility and its misalignment with the company's investment philosophy. This decision has led to criticism from crypto enthusiasts on social media. Vanguard's platform does not support the purchase of BlackRock's IBIT ETF, contrasting with other brokerages like Charles Schwab and Fidelity, which allow clients to buy new spot bitcoin ETFs. Vanguard's conservative stance has been met with negative reactions from some customers, with one announcing plans to transfer assets out of Vanguard.

Portfolio Pulse from Murtuza Merchant

January 11, 2024 | 7:32 pm

ENDPQ

Endo International (OTC:ENDPQ), a bankrupt generic drugmaker, has received court approval to solicit votes for its restructuring plan, which includes a $600 million trust to compensate various creditors affected by the opioid epidemic linked to its painkiller Opana ER. The plan is still under negotiation with U.S. agencies and proposes payments of up to $465 million over ten years. A group of states, tribes, and private institutions is supporting the vote solicitation, indicating progress in discussions with the U.S. Trustee and the Department of Justice.

Portfolio Pulse from Vandana Singh

January 11, 2024 | 7:09 pm

HUGE

GBB Drink Lab. Inc's lawsuit against FSD Pharma (NASDAQ:HUGE) for violating a Non-Disclosure Agreement and attempting to launch GBB's product without permission will proceed, as a federal court has refused to dismiss the case. The court recognized the economic value of GBB's trade secrets and the impact of FSD Pharma's actions on potential investors.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:17 pm

EBAY

eBay Inc. has agreed to pay a $3 million criminal penalty for a 2019 cyberstalking campaign against a Massachusetts couple and for obstructing the subsequent investigation. eBay was charged with stalking and obstruction of justice, and has entered into a deferred prosecution agreement. The company admitted to the facts and will have a corporate compliance monitor for three years. Seven former eBay employees or contractors were convicted, with sentences ranging from home confinement to 57 months in federal prison.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:43 pm