Streetbeat News

Corporate Responsibility

TERN

Terns Pharmaceuticals shares are trading lower following the announcement of CFO Mark Vignola's departure.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 4:23 pm

AMZN

Amazon projected its healthcare businesses to lose more than $1 billion in 2024, according to an internal document. The company is focusing on cost-cutting measures to achieve profitability in this segment.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 4:22 pm

WFC

Wells Fargo is being sued over drug costs in its employee health plan. The lawsuit was filed by former employees in a Minnesota federal court.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 4:18 pm

SPR

Spirit AeroSystems has announced that it currently has no plans for layoffs or furloughs, providing reassurance to its workforce and investors.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:26 pm

SPY

U.S. Treasury Secretary Janet Yellen stated that Vice President Kamala Harris supports not raising taxes on middle-income taxpayers. Harris has also been supportive of President Biden's initiatives to make child care more affordable and to make the expanded Child Tax Credit permanent.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:25 pm

AMZN

BABA

PDD

Temu, an online marketplace owned by PDD Holdings, faces supplier protests in China over its shift to a semi-managed model. This change aims to recruit Amazon merchants with goods in U.S. and EU warehouses to mitigate tax loophole risks and reduce delivery times. Alibaba and Amazon are mentioned as rivals.

Portfolio Pulse from Anusuya Lahiri

July 30, 2024 | 3:20 pm

BMY

PFE

A Pfizer executive expressed confidence in the company's ability to navigate the impact of the Inflation Reduction Act (IRA) on Eliquis, a key drug in its portfolio. The executive also mentioned that the financial impact of the IRA on Pfizer is somewhat muted and highlighted $1.5 billion in cost savings from the first phase of a multi-phase program.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:19 pm

SPY

U.S. Treasury Secretary Janet Yellen stated that President Biden aims to ensure that households earning under $400,000 do not see a tax increase. Biden also seeks tax fairness with higher taxes on the wealthy and corporations.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:10 pm

JBLU

JetBlue's executive announced that the company expects its total capital expenditures for the next year to be a few hundred million dollars lower compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:04 pm

JBLU

JetBlue's executive announced that the airline expects the average number of grounded aircraft in 2025 to be in the mid to high teens, with greater uncertainty in 2026 and beyond.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 2:34 pm