Streetbeat News

Corporate Responsibility

WBA

During a conference call, a Walgreens executive stated that the company is on track to achieve $1 billion in cost savings by fiscal 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:42 pm

ISPR

Ispire Technology Inc. (NASDAQ:ISPR) has announced that its Malaysian subsidiary received three ISO certifications for its manufacturing facility, which is expected to increase gross margins by avoiding tariffs and improving production efficiency. The certifications are anticipated to enhance product quality, customer satisfaction, and access to global markets, contributing to the company's gross-margin expansion strategy.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:42 pm

SRFM

Surf Air Mobility has entered into agreements with Safarilink and Yellow Wings to supply electric powertrains, supporting their goal to transition to all-electric fleets by 2027 and promote sustainable air travel in Africa.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:37 pm

SRRK

Scholar Rock, a biopharmaceutical company, has provided a corporate update for 2024, focusing on its antimyostatin pipeline for treating spinal muscular atrophy (SMA) and cardiometabolic disorders. The company has completed enrollment for its apitegromab Phase 3 SAPPHIRE trial in SMA patients, with topline data expected in Q4 2024. A Phase 2 trial for apitegromab in obesity is set to begin in mid-2024. Scholar Rock will also present new preclinical data on SRK-439, another myostatin inhibitor for obesity, at the Keystone Symposia in February. The company reports having approximately $280 million in cash and cash equivalents and will present at the 42nd Annual J.P. Morgan Healthcare Conference.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:30 pm

CXM

Sprinklr has appointed Trac Pham as interim COO and authorized a $100M stock buyback program. The company reaffirms its Q4 and FY24 financial guidance. Pham, former CFO of Synopsys and current Sprinklr board member, will focus on improving the go-to-market strategy while assisting in the search for a permanent President and COO. The buyback reflects Sprinklr's strong balance sheet and cash flow, aiming to enhance stockholder value. The repurchase plan will be conducted under SEC rules and is expected to be completed within 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:22 pm

FDMT

4D Molecular Therapeutics (4DMT) reported clinical pipeline progress, upcoming milestones, and organizational updates. The company remains well-capitalized with $300M in estimated cash, sufficient to fund operations into H1 2026. Key clinical advancements include progress in wet AMD, DME, and CF programs, with Phase 2 trial data for 4D-150 in wet AMD and DME expected in 2024. The company also announced a partnership with Arbor Biotechnologies for CNS diseases and appointed Noriyuki Kasahara as Chief Scientific Officer. Upcoming milestones include data presentations, trial updates, and IND filings across its ophthalmology, pulmonology, cardiology, and rare inherited retinal disorders portfolios.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:20 pm

C

GS

JPM

MS

Citigroup Inc. (C) is planning to launch a fully-owned investment banking unit in China by the end of the year, aiming to hire about 30 people initially and potentially expanding to nearly 100. The Chinese securities regulator approved the U.S. bank's application last month. Citi's move follows similar expansions by Goldman Sachs (GS), JP Morgan (JPM), and Morgan Stanley (MS) in China. The expansion is seen as risky due to China's slowing economic growth and evolving policies.

Portfolio Pulse from Nabaparna Bhattacharya

January 04, 2024 | 1:14 pm

GOOG

GOOGL

MSFT

Alphabet Inc.'s Google is reportedly preparing to launch a paid version of its AI chatbot, Bard, similar to Microsoft-backed OpenAI's ChatGPT. A cybersecurity enthusiast discovered hidden code on the Bard website indicating a three-month free trial for Google One subscribers, followed by a subscription fee. The code also hints at a new Bard Advanced service powered by Google's AI model, Gemini. The exact details of the subscription tiers are unclear, but the launch seems imminent as promotional content and pricing details are already present in the code.

Portfolio Pulse from Rounak Jain

January 04, 2024 | 1:14 pm

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), discussed the potential of lithium batteries and solar energy to power industries sustainably, dismissing concerns about material shortages. He highlighted the rapid growth of battery production and the importance of energy buffering for electrical grids. The conversation follows the discovery of a large lithium reserve in California and Tesla's report on the Powerwall's performance.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 1:14 pm

RWLK

ReWalk Robotics announced a cost optimization plan that includes a 15% reduction in its workforce, which was implemented at the end of 2023.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:11 pm