Streetbeat News

Corporate Responsibility

GM

Over 60% of UAW workers at General Motors' Texas plant have voted in favor of a new contract, according to Reuters citing the union.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 3:27 pm

AAPL

GSAT

Apple has announced the extension of its Emergency SOS via satellite service for an additional free year for existing iPhone 14 users. The service, which allows users to text emergency services outside of cellular and Wi-Fi coverage, has been credited with saving lives. It is now available on iPhone 15 in 16 countries. Apple also introduced Roadside Assistance via satellite and other safety features like Crash Detection and Medical ID.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 3:19 pm

KNTE

Kinnate Biopharma Inc (NASDAQ:KNTE) shares surged after Foresite Capital Management and OrbiMed Advisors expressed interest in potentially acquiring the company. Kinnate, a clinical-stage precision oncology company, has been focusing on cancer-targeted therapies and recently prioritized certain programs while reducing its workforce by 70%. The company's cash reserves are expected to fund operations into Q2 2026. KNTE's stock price jumped 45.60% to $2.29.

Portfolio Pulse from Vandana Singh

November 15, 2023 | 3:02 pm

YNDX

Yandex NV (NASDAQ:YNDX), often referred to as 'Russia's Google', is considering a complete sell-off of its Russian assets. The Dutch holding company aims to finalize the deal by the end of the year and refocus on international business lines. The potential deal value is estimated to be around 560 billion roubles ($6.18 billion), with previous bids for half the company at $7 billion. Yandex has faced challenges due to geopolitical tensions and pressure from the Kremlin, leading to the sale of certain assets to VK and a corporate restructuring to depoliticize its operations. A board meeting in Dubai is scheduled for the end of November to discuss the deal, which requires shareholder and Russian government approval.

Portfolio Pulse from Vandana Singh

November 15, 2023 | 2:58 pm

AMGN

deCODE Genetics, a subsidiary of Amgen, published a study in the New England Journal of Medicine on actionable genotypes in the Icelandic population. The study found that 4% of Icelanders carry genotypes associated with serious diseases, which can significantly shorten lifespan. The Icelandic government is motivated by these findings to pursue a nationwide precision medicine effort. Amgen's deCODE has discovered genetic risk factors for many diseases and aims to improve disease diagnosis, treatment, and prevention.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:54 pm

CCF

KKR

Chase Corporation has announced that Lance Reisman will become the Chairman of the Board when a transaction is finalized. No further details about the transaction were provided in the news snippet.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:27 pm

KNTE

Kinnate Biopharma received a letter from funds affiliated with Foresite Capital Management and Orbimed Advisors, as disclosed in an SEC 8K filing on November 13.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:23 pm

ENVA

Enova International, Inc. (NYSE:ENVA) has settled with the CFPB for $15 million over consumer loan processing issues due to technical errors. The majority of issues were self-reported and have been addressed, with redress provided to affected customers. The settlement is not expected to materially impact Enova's operations. Enova has enhanced its payment processing and customer impact systems and discontinued its single payment payday loan product. The company remains focused on serving customers underserved by traditional banks.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:17 pm

DIS

Disney's streaming service Hotstar set a new record with over 51 million viewers for a cricket match between India and New Zealand, surpassing its previous record of 44 million. Despite losing over 23 million subscribers in 2022, Disney is offering free streaming of ICC World Cup cricket matches in India. CEO Bob Iger is exploring options to continue operations in India, where TV business is profitable. Disney is in talks with entities like Reliance for its India business. Meanwhile, Viacom18, backed by Mukesh Ambani, is increasing competition for Hotstar by drawing talent from Star India and investing in streaming rights.

Portfolio Pulse from Anusuya Lahiri

November 15, 2023 | 2:15 pm

ZKIN

ZK International Group Co., Ltd. (ZKIN) has been granted a temporary exception by the Nasdaq Hearings Panel to regain compliance with the Bid Price Rule. The company has until January 19, 2024, to effect a reverse stock split and demonstrate a closing bid price of $1 or more for ten consecutive trading sessions. The exception period extends until January 31, 2024. ZKIN is committed to transparency and regulatory compliance during this process and values its stakeholder relationships.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:15 pm