Streetbeat News

Corporate Responsibility

JPM

JPMorgan Chase & Co CEO Jamie Dimon, at the Australian Financial Review business summit, defended individuals' rights to invest in Bitcoin while expressing skepticism about its regulatory future and the current bullish market trend. He compared investing in Bitcoin to smoking cigarettes, highlighting the importance of personal freedom despite his reservations. Dimon also speculated on the timing of a potential rate cut by the U.S. Federal Reserve, suggesting a cautious approach and a delay in the rate cut cycle to later in the year, emphasizing the need for a data-driven approach to monetary policy.

Portfolio Pulse from Murtuza Merchant

March 12, 2024 | 7:10 pm

SAVE

ULCC

At the J.P. Morgan Industrials Conference, Frontier's CEO dismissed the idea of re-engaging with Spirit Airlines for a deal, stating they don't have time or energy to consider it.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 5:52 pm

UNH

The Biden administration has urged UnitedHealth Group (NYSE:UNH) to address the fallout from a cyberattack on Change Healthcare, which has caused a national health payment crisis. The attack has led to financial instability among healthcare providers, affecting their ability to deliver care. UnitedHealth has been asked to expedite emergency funding for affected providers, with federal authorities also stepping in to offer support. Despite efforts, recovery is expected to take months, with criticisms over the sufficiency of aid for smaller healthcare organizations.

Portfolio Pulse from Vandana Singh

March 12, 2024 | 5:47 pm

JAZZ

Paige Figi, mother of Charlotte Figi who inspired the FDA-approved CBD medicine Epidiolex by Jazz Pharmaceuticals (NASDAQ:JAZZ), advocates for CBD access and regulation through her non-profit, Coalition for Access Now. Despite CBD's legalization under the 2018 Farm Act, the market remains unregulated, posing safety risks. Figi supports bills H.R. 1629 and S. 2451 to regulate CBD as a dietary supplement, emphasizing the urgency due to the wide-ranging benefits of CBD for various consumer groups.

Portfolio Pulse from Nina Zdinjak

March 12, 2024 | 5:44 pm

ILMN

Carl Icahn has decided not to pursue his previously considered plan to challenge the board of directors at Illumina, according to sources cited by Reuters. This development could signal a de-escalation in the potential conflict between the activist investor and the biotechnology company.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 5:37 pm

LHX

MMM

3M Company (NYSE:MMM) shares surged after announcing William M. Bill Brown as the new CEO, effective May 1, 2024. Brown, former CEO of L3Harris Technologies Inc (NYSE:LHX), succeeds Michael Roman, who becomes Executive Chairman. The Board also waived the mandatory retirement age for both Roman and Brown. MMM shares rose 4.41% to $98.20.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 5:05 pm

AMZN

FDIS

GOOG

MSFT

VCR

Amazon.Com Inc (NASDAQ:AMZN) has acquired a nuclear-powered data center in Pennsylvania, marking its first venture into nuclear energy. This move by Amazon Web Services to secure electricity from the Susquehanna nuclear power station for a decade underscores Amazon's commitment to clean, carbon-free energy. It aligns with growing public support for nuclear energy and a global pledge to increase atomic generation. This initiative places Amazon alongside other tech giants like Microsoft Corp (NASDAQ:MSFT) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, who are also diversifying their energy sources towards clean options. The move is expected to impact energy consumption patterns in the tech industry, known for its high power demands.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 4:34 pm

SNN

Smith & Nephew Plc (NYSE:SNN), a British MedTech firm, plans to overhaul its executive pay structure to align with U.S. standards, aiming to address high executive turnover and align compensation with its U.S. counterparts. This move is part of a broader trend among U.K. listed companies with significant overseas revenues, seeking to attract global talent and maintain competitiveness. The company has experienced four CEOs in the past five years due to executive compensation issues. SNN shares are up 0.37% at $28.04.

Portfolio Pulse from Vandana Singh

March 12, 2024 | 4:26 pm

ALK

JBLU

SAVE

At the J.P. Morgan Industrials Conference, Alaska Air's CEO commented that the judge's decision on the JetBlue-Spirit deal is beneficial for Alaska Air. He also noted that Alaska Air's agreement with Hawaiian Airlines is distinct from the JetBlue-Spirit merger.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:42 pm

BGXX

Bright Green Corp (NASDAQ:BGXX) has signed a $250M agreement with Dalsem Greenhouse Technologies BV to expand its drug production facility in New Mexico, adding 7M square feet of manufacturing space. The expansion, supported by $60M in financing, aims to enhance the production of Schedule I and II controlled substances, aligning with the 'Drugs Made in America' initiative. The project, benefiting from solar power and federal tax credits, positions Bright Green as a competitive, low-cost, carbon-neutral drug manufacturer in the U.S.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:02 pm