Streetbeat News

Corporate Responsibility

MSFT

Blizzard has canceled BlizzCon 2024, opting for smaller events and participation in trade shows like Gamescom. The decision follows a year of significant changes for Blizzard, including Microsoft's acquisition of the company and leadership shifts. Despite the cancellation, Blizzard plans to bring back BlizzCon in future years. The video game industry is currently facing challenges, highlighted by Microsoft's recent layoffs of 1,900 employees across Activision Blizzard and Xbox.

Portfolio Pulse from Franca Quarneti

April 26, 2024 | 8:41 pm

LHX

In a CNBC interview, L3Harris CEO Chris Kubasik discussed the company's decision to cut 5% of its workforce, stating it was the right move for the business. This strategic decision reflects the company's efforts to streamline operations and improve efficiency.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 8:40 pm

REPX

Riley Exploration Permian (REPX) announced the elimination of the positions of President and Executive Vice President. Bobby D. Riley will continue in his roles as CEO and Chairman of the Board. This decision was reported by Reuters, citing business intelligence sources.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 8:24 pm

BWB

Bridgewater Bancshares, Inc. (NASDAQ:BWB) announced Joe Chybowski's promotion to President, effective April 26, 2024, alongside other strategic leadership transitions. Chybowski, currently the CFO, will work closely with CEO Jerry Baack, aiming to drive strategic excellence and innovation. The company highlighted Chybowski's significant contributions since joining in 2013, including leading Bridgewater through its IPO and managing through macroeconomic challenges. Additional appointments include Mary Jayne Crocker as Chief Strategy Officer and Laura Espeseth as Chief Accounting Officer, marking a commitment to internal talent development and strategic growth.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 8:19 pm

CYTK

Cytokinetics announced the appointment of Sung H. Lee as Executive Vice President and CFO according to an SEC filing on April 23.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 8:08 pm

NWL

Newell Brands Inc is undergoing a restructuring and organizational realignment plan, with estimated charges between $75M-$90M, expected to be substantially incurred by the end of 2024, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 8:07 pm

BNTX

CVAC

GSK

PFE

Acuitas Therapeutics and CureVac NV settled a lawsuit over COVID-19 vaccine patent credits. Acuitas accused CureVac of omitting its scientists from patent applications for lipid nanoparticle technology. This settlement comes amid broader legal battles involving CureVac, Pfizer, BioNTech, and now GSK over mRNA vaccine patents. A German court recently invalidated a CureVac patent central to its case against BioNTech and Pfizer. GSK has also sued Pfizer and BioNTech for patent infringement.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 6:45 pm

ABBV

CI

CVS

Evernorth Health Services, a subsidiary of The Cigna Group (NYSE:CI), announced its Accredo arm will offer a Humira biosimilar with no out-of-pocket costs to patients. This initiative, starting in June, is expected to save patients an average of $3,500 annually. The biosimilar, produced for Quallent Pharmaceuticals, is priced about 85% lower than Humira, AbbVie Inc's (NYSE:ABBV) arthritis drug. Despite the introduction of biosimilars, AbbVie has retained over 98% of the Humira market. CVS Health Inc's (NYSE:CVS) pharmacy benefits unit has begun shifting prescriptions to biosimilars, impacting Humira's market share.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 6:41 pm

RIVN

Rivian has announced plans to open its fast-charging network to all electric vehicles (EVs) by late 2024. This move is expected to significantly enhance the EV charging infrastructure and make Rivian's network more accessible to a broader range of EV users, potentially increasing the utility and attractiveness of Rivian's charging solutions.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:15 pm