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Corporate Responsibility

PFE

Pfizer Inc (NYSE:PFE) is cutting 500 jobs at its Sandwich, Kent facility as part of a global cost-cutting initiative due to lower-than-expected COVID-19 vaccine and treatment sales. The pharmaceutical sciences small molecule operations will be discontinued, affecting primarily scientist roles and some administrative positions. The company plans to relocate these roles to other sites in Chennai, India, and Connecticut, US. Despite the job cuts, Pfizer's Q3 sales slumped 42%, and further details on the cost-cutting measures will be shared in the coming months.

Portfolio Pulse from Vandana Singh

November 14, 2023 | 5:15 pm

AAPL

AMZN

GOOG

GOOGL

META

MSFT

ZLNDY

Microsoft Corp (MSFT) and Alphabet Inc (GOOG, GOOGL) Google have agreed to comply with the EU's Digital Markets Act (DMA), which requires 'gatekeeper' services to make user access across services easier, including interoperability of messaging apps and freedom to choose pre-installed apps. The DMA affects other tech giants like Amazon (AMZN), Apple (AAPL), Meta Platforms (META), and ByteDance's TikTok. Companies have until November 16 to contest the regulations. Zalando (ZLNDY) and Amazon have challenged the related Digital Services Act (DSA). GOOG shares saw a 1.50% increase to $135.65.

Portfolio Pulse from Anusuya Lahiri

November 14, 2023 | 5:12 pm

AMZN

BTCUSD

ETHUSD

John Liu commented on the importance of projects that balance institutional needs with scalability and innovation, suggesting these are the ones getting it right. No specific companies or cryptocurrencies were discussed in detail.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 4:55 pm

AMZN

BTCUSD

ETHUSD

John Liu, the Head of Product for AWS Web3/Blockchain, has acknowledged the validity of cryptocurrencies as an efficient asset for diversification and payment processing. His comments were made in the context of Amazon Web Services and its involvement in the blockchain space.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 4:38 pm

LIVE

LL

Private equity firm F9 Investments, LLC has proposed to acquire LL Flooring Holdings Inc (NYSE:LL) for $3.00 per share, owning about 8.8% of the company. The offer is based on LL Flooring's poor Q3 2023 performance and is fully financed with cash and credit. F9's owner, Thomas Sullivan, plans to nominate three directors to LL Flooring's board in 2024. Previously, LL Flooring rejected F9's $5.76/share offer and Live Ventures Incorporated (NASDAQ:LIVE) proposed $5.85/share to acquire LL Flooring. LL shares rose 7.09% to $3.02.

Portfolio Pulse from Shivani Kumaresan

November 14, 2023 | 4:16 pm

PFE

Pfizer is set to discontinue some of its operations in Kent, leading to the loss of 500 jobs, as reported by SkyNews.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 3:20 pm

LNVGY

Lenovo has announced the ThinkSmart Bar 180, an AI-enabled video bar for small and medium meeting spaces, in collaboration with Jabra. It features a 180-degree field of view, three camera system, and intelligent microphones. The device integrates with Lenovo ThinkSmart Core and Controller and is certified for Microsoft Teams Rooms and Zoom Rooms. Lenovo also introduced Windows Autopilot support for its ThinkSmart devices. The ThinkSmart Bar 180 will be available in Q1 2024, with prices starting at $1,605 for the standalone device and $4,099 for a full room kit.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 3:05 pm