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Corporate Responsibility

JBLU

SAVE

JetBlue has officially terminated its merger agreement with Spirit Airlines, allowing it to concentrate on its organic growth strategy and path to profitability. This strategic shift marks a significant change in direction for JetBlue, potentially impacting its future operations and financial performance.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:31 pm

GOOG

GOOGL

A former Google engineer warned over five years ago about the inevitable threat AI posed to Google's search engine, a concern that has resurfaced with Google's mishandling of its Gemini AI chatbot. Despite the company's significant reliance on search revenue, which accounted for 56% of its total revenue in Q4 2023, Google's leadership has acknowledged issues with Gemini's quality control. The ongoing antitrust lawsuit against Google has brought to light internal emails from Eric Lehman, the engineer, predicting the rise of AI over traditional search methods.

Portfolio Pulse from Rounak Jain

March 04, 2024 | 1:28 pm

FTXL

MU

NVDA

PSI

SSNLF

Micron Technology, Inc (NASDAQ:MU) is involved in a corporate espionage case linked to Chinese state-sponsored theft, with a shift in strategy towards China amid US-China tensions. Despite a setback in a federal case against Fujian Jinhua, Micron is adapting by settling lawsuits, engaging diplomatically, and investing in China. Micron's products are chosen by Samsung Electronics (OTC:SSNLF) for the Galaxy S24 series and are used in Nvidia Corp's (NASDAQ:NVDA) H200 Tensor Core GPUs. Micron's stock rose 2.94% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

March 04, 2024 | 1:24 pm

INCY

Incyte announced its dermatology portfolio data will be presented at the 2024 American Academy of Dermatology Annual Meeting, including two late-breaking abstracts on ruxolitinib cream (Opzelura) for hidradenitis suppurativa and povorcitinib (INCB54707) for prurigo nodularis. The event will highlight Incyte's commitment to addressing unmet needs in dermatology. Key data presentations are scheduled for March 11, 2024. Opzelura is FDA-approved for nonsegmental vitiligo and atopic dermatitis, while povorcitinib is in Phase 2 trials for several conditions.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:24 pm

ORA

Ormat Technologies, Inc. (NYSE:ORA) has signed a 30-year Power Purchase Agreement (PPA) with Electricité de France for a new 10MW geothermal power plant in Guadeloupe, adding to its existing 15MW Bouillante plant. The project, owning a 63.75% equity interest by Ormat, is expected to be operational by end of 2025, enhancing Ormat's total Caribbean geothermal capacity to 35MW. This development, featuring state-of-the-art sea water-cooled binary system technology, underscores Ormat's commitment to sustainable energy and its strategic relationship with EDF.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:21 pm

ARQT

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) announced its participation in the 2024 American Academy of Dermatology annual meeting with five presentations on topical roflumilast, including late-breaking clinical data from the INTEGUMENT-PED trial on children with atopic dermatitis and data from two pooled Phase 3 trials (DERMIS-1 and DERMIS-2) on plaque psoriasis. The presentations will cover new efficacy and patient-reported outcomes for roflumilast cream and foam in treating various dermatological conditions.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:18 pm

PROC

Procaps Group (NASDAQ:PROC) is exploring strategic alternatives to maximize shareholder value, including potential M&A activities. The company has formed a strategic committee and retained BTG Pactual to assist in this process. This initiative is led by the new CEO, Jose Vieira, and aims to accelerate growth and optimize shareholder value. The outcome of this strategic review is uncertain, and Procaps will provide updates in compliance with disclosure obligations.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:17 pm

PRGO

Perrigo Company plc (NYSE:PRGO) has announced the commencement of shipments of Opill®, the first daily birth control pill available without a prescription in the U.S., to retailers nationwide. Opill® will be available for pre-order and in-store in the coming weeks. Approved by the FDA in July 2023, Opill® aims to improve accessibility and affordability of birth control, with prices ranging from $19.99 for a one-month supply to $89.99 for a six-month supply. Perrigo emphasizes the importance of this milestone in reproductive health and has also planned a cost-assistance program for low-income individuals.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:16 pm

NMIH

NMI Holdings, Inc. has announced the appointment of Aurora Swithenbank as its new Executive Vice President and Chief Financial Officer, effective May 1. This strategic move aims to strengthen the company's leadership team and financial management.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:15 pm

GRRR

Gorilla Technology Group Inc. (GRRR) and Lanner Electronics Inc. have announced a strategic partnership to develop AI-enabled cybersecurity products for the MENA region. This collaboration aims to enhance security solutions, offering seamless integration, enhanced performance, cost-effectiveness, and a comprehensive suite of cybersecurity features. Gorilla's involvement aligns with Egypt's Vision 2030 plan, emphasizing its commitment to economic growth and technological advancement in the region.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:12 pm