Streetbeat News

Corporate Responsibility

STT

State Street, at a Goldman Sachs conference, discussed the ongoing pricing pressure in the competitive financial services landscape. The company indicated that keeping up with market practices and pricing is becoming 'table stakes', suggesting that this pressure could negatively impact its profitability.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 4:05 pm

APO

XLV

U.S. Senators Chuck Grassley and Sheldon Whitehouse have initiated a bipartisan investigation into the role of private equity in the U.S. health care sector. They are examining the impact of private equity on patient care and hospital operations, focusing on Apollo Global Management's ownership of Ottumwa Regional Health Center and Leonard Green & Partners' former ownership of Prospect Medical Holdings. The inquiry is concerned with the financial strategies that prioritize profits over patient care, leading to increased costs, debt burdens, and potentially compromised health care quality.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 3:40 pm

IGMS

SNY

IGM Biosciences Inc (NASDAQ:IGMS) is shifting its focus towards treating colorectal cancer and autoimmune diseases, discontinuing all blood cancer-related studies. The company plans to file an IND application in 2024 for IGM-2644, aimed at treating autoimmune diseases. As part of the strategic change, IGM Biosciences will stop the development of several product candidates and reduce its workforce by 22%, extending its cash runway into Q2 2026. The company will maintain its collaboration with Sanofi SA (NASDAQ:SNY) on oncology, immunology, and inflammation products.

Portfolio Pulse from Vandana Singh

December 06, 2023 | 3:10 pm

CAH

Cardinal Health Inc has issued a recall for Nurse Assist products that are included within various kits and trays. The recall could potentially impact the company's reputation and financials due to the costs associated with the recall process and potential legal liabilities.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 2:57 pm

AAPL

GOOG

GOOGL

Senator Ron Wyden has raised concerns that Apple Inc and Alphabet Inc's Google may be inadvertently aiding global surveillance by providing data from push notifications to unidentified governments. Wyden's letter to the Department of Justice reveals that foreign officials have demanded such information, which could be used for tracking smartphone usage. Apple has stated it will update its transparency reports to include these requests, while the extent and duration of the surveillance are still under investigation.

Portfolio Pulse from Anusuya Lahiri

December 06, 2023 | 2:43 pm

MCD

McDonald's has set a goal to expand its global restaurant count to 50,000 by 2027. The company also aims to grow its loyalty program to 250 million 90-day active users and achieve $45 billion in annual system-wide sales to loyalty members by the same year.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 2:25 pm

MLGO

MicroAlgo's stock price is on the rise following the company's announcement of its intention to set up a postgraduate training practice base, signaling a potential investment in human capital and future growth.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 2:15 pm

GVA

International Directional Services (IDS), a subsidiary of Granite Company (NYSE:GVA), and Veracio, a mining technology firm, have announced a strategic partnership to advance drilling and downhole technologies in North America. The partnership will offer Veracio's suite of driller-operated tooling to IDS' clients, aiming to enhance mining lifecycle with advanced geological technologies. The collaboration is expected to reduce drilling costs, minimize errors and waste, and promote sustainable mining practices. Veracio's TruGyro and TruShot tools, known for precision and durability, will be distributed by IDS, with plans to expand offerings as Veracio introduces new products.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 2:07 pm

LILM

Lilium N.V. (NASDAQ:LILM) has announced the start of production of the Lilium Jet, an all-electric vertical take-off and landing (eVTOL) aircraft, marking a transition from design to industrialization. The first fuselage has arrived at Lilium's final assembly line in Wessling, Germany. The company's facilities, covering 175,000 square feet, include a testing & manufacturing center, propulsion & aerostructures facility, final assembly building, and a battery assembly building. Lilium's CEO and COO highlighted the milestone and the collaboration with tier one aerospace suppliers Aciturri and Aernnova, emphasizing the move towards sustainable regional aviation and the goal of achieving Type Certification with EASA.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 1:44 pm

TCNNF

YOURF

YourWay Cannabis Brands Inc. has terminated the agreement to sell Labtronix, Inc. after a surprise fire department inspection led to a cessation of Labtronix's operations. Shareholders were against the $3M sale, considering it below fair market value. A special meeting to vote on the sale was canceled. Carl Saling III, a significant shareholder, opposed the sale and nominated new directors. Trulieve Cannabis Corp. filed a complaint against YourWay Cannabis and others for alleged kickback schemes.

Portfolio Pulse from Jelena Martinovic

December 06, 2023 | 1:37 pm