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AMZN

Amazon Web Services (AWS), a unit of Amazon.Com, Inc (NASDAQ:AMZN), is reducing its workforce in the Sales, Marketing, and Global Services organization, and the Physical Stores Technology team, affecting several hundred positions. The cuts are part of AWS's strategy to streamline operations and focus on critical areas, with a shift towards digital self-service and external partnerships. Despite the layoffs, AWS is still hiring for other parts of its business and aims to reposition affected employees. The job cuts are global, with significant impact expected in Seattle. Amazon has previously made substantial job cuts and seeks to save costs by reducing office space.

Portfolio Pulse from Anusuya Lahiri

April 03, 2024 | 4:28 pm

SPY

XLV

President Biden is delivering remarks focused on initiatives to lower health care costs for Americans. The speech is expected to outline plans and policies aimed at reducing the financial burden of health care on individuals and families.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 4:07 pm

ULCC

Frontier's Flight Attendants' Union has expressed opposition to the proposed overhaul of the airline's operation model, stating that any changes require dispute negotiations under the U.S. Railway Labor Act, according to a letter cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 3:46 pm

OCGN

Ocugen Inc (NASDAQ:OCGN) shares surged 14% to $1.58 after updating on its 2023 business activities and financial status. The company reported progress in gene therapy programs for blindness, with notable advancements in OCU400 and OCU410 trials. Ocugen is also advancing its vaccine and NeoCart® platform projects. Despite planning to restate 2022 financial statements due to errors, Ocugen's current funds are expected to support operations into Q4 2024. Shares have risen 80% over the past month following a favorable court ruling and a bylaw amendment to lower quorum requirements for shareholder meetings.

Portfolio Pulse from Henry Khederian

April 03, 2024 | 3:44 pm

TLRY

A new study by Tilray Medical, a division of Tilray Brands, Inc. (NASDAQ:TLRY) (TSX:TLRY), shows older patients increasingly choosing cannabis for treating chronic pain, arthritis, anxiety, and insomnia. The study, derived from the Canadian Cannabis Patient Survey 2021, included 2,697 patients with a mean age of 54.3. It highlights a significant reduction in the use of prescription opioids among these patients. This research, along with other studies, indicates a growing trend of cannabis consumption among seniors for medical purposes.

Portfolio Pulse from Jelena Martinovic

April 03, 2024 | 3:12 pm

BKR

SNMRY

Baker Hughes Company (NASDAQ:BKR) has been chosen by Snam SPA (OTC:SNMRY) to supply three turbocompressors with NovaLT12 gas turbines for the Adriatic Line pipeline project in Italy. This project aims to reduce carbon emissions by allowing up to 10% hydrogen blend with natural gas. The collaboration is part of Italy's efforts to decarbonize its gas network and is supported by the National Recovery and Resilience Plan and the REpowerEU Plan.

Portfolio Pulse from Akanksha Bakshi

April 03, 2024 | 3:11 pm

PESI

Perma-Fix Environmental Services, Inc. (PESI) shares surged following the announcement of successful pilot plant testing for the destruction of Per- and Polyfluorinated Substances (PFAS). This development marks a significant step in addressing environmental concerns related to PFAS, which are persistent pollutants.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 2:42 pm

DIS

Vanguard, Disney's largest shareholder, has announced its support for Disney's management in the upcoming board vote against activist investor Nelson Peltz. BlackRock, the second-largest shareholder, also supports the current board. The decision has drawn criticism from investor Bill Ackman regarding the early release of voting information. The outcome of the vote, with major investors backing CEO Bob Iger, could significantly impact Disney's future direction.

Portfolio Pulse from Benzinga Neuro

April 03, 2024 | 1:50 pm

ABAT

American Battery Technology Company (ABTC) has been awarded a $20M tax credit by the U.S. DOE to support its battery recycling facility's expansion in Nevada. This award, part of the Qualifying Advanced Energy Project Credits program, will fund capital expenditures and equipment for ABTC's commercial scale recycling operations. ABTC's innovative recycling process aims to recover battery materials efficiently and with a low environmental impact. This funding complements over $70M in previous U.S. DOE grants, furthering ABTC's efforts to establish a domestic battery metals supply chain and support workforce development in Nevada.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 1:17 pm

EDBL

EDBLW

Edible Garden AG Incorporated (NASDAQ:EDBL, EDBLW) announced the transition of its business to Edible Garden Heartland in Grand Rapids, Michigan, focusing on vertical integration. This move allows the company to shift potted herb production in-house, enhancing margins by reducing production costs. The integration includes advanced technologies and high-speed packing lines, aiming for increased efficiency and profitability.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 1:06 pm