Streetbeat News

Corporate Responsibility

MRK

OGN

New York Attorney General Letitia James has requested the FDA to investigate the safety of the asthma and allergy medication Singulair (montelukast), particularly its neuropsychiatric side effects in children. Despite a 'black box' warning added in 2020, there are concerns about the adequacy of current warnings, especially for pediatric patients. Merck & Co Inc (MRK), the original manufacturer, and Organon Inc (OGN), which now markets Singulair, are highlighted due to the drug's significant revenue and the lawsuits alleging they downplayed psychiatric risks.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 3:56 pm

PDD

PDD Holdings' stock (NASDAQ:PDD) fell nearly 3% pre-market on Feb. 26 due to fears of a potential US import ban on its subsidiary Temu, amid allegations of forced labor connections in Xinjiang, China. Despite a 73% gain in 2023, PDD stock is down 12.7% this year. US lawmakers are considering adding Temu to the Uyghur Forced Labor Prevention Act violators list, which could significantly impact PDD's investment value and Temu's US market presence.

Portfolio Pulse from Surbhi Jain

February 26, 2024 | 3:31 pm

AMZN

EWW

Amazon Web Services (AWS) plans to invest over $5 billion in a new cluster of data centers in Queretaro, Mexico, over the next 15 years. This move is part of a growing demand for cloud services and comes amid the nearshoring trend. AWS aims to serve clients like Cinepolis, BIVA, Aeromexico, and local governments, potentially reducing their technology costs by around 20%. Amazon has already invested over $3.04 billion in Mexico since 2015.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:49 pm

TKUNF

Greece has made medical marijuana available in pharmacies, seven years after its legalization, for patients with specific conditions such as chemo-induced nausea and chronic pain. The first legal patient, Anna Paga, reported significant pain relief from using medical cannabis. The country has also seen the establishment of its first medical cannabis production plant by Tikun-Olam Cannbit's subsidiary, Tikun Europe. This move is part of broader efforts to regulate medical marijuana use and curb the illegal market.

Portfolio Pulse from Nina Zdinjak

February 26, 2024 | 2:20 pm

CBRL

KSS

LEG

Wall Street's most accurate analysts have provided their views on three consumer discretionary stocks with over 7% dividend yields: Leggett & Platt (LEG), Cracker Barrel Old Country Store (CBRL), and Kohl's Corporation (KSS). LEG reported disappointing Q4 results and issued weak FY24 guidance. CBRL appointed Carl T. Berquist as board Chairman after Sandra B. Cochran's early retirement. A hedge fund led by a former Canada Prime Minister is pushing KSS to sell itself. Analysts have adjusted their ratings and price targets for these stocks.

Portfolio Pulse from Avi Kapoor

February 26, 2024 | 2:14 pm

AMGN

Amgen has officially opened a new biomanufacturing site in Central Ohio, marking a significant expansion of its production capabilities.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:03 pm

RVSN

Rail Vision Ltd. (NASDAQ:RVSN) has received regulatory approval and certification for its Main Line system in the European Union, setting new safety standards for railway operations. This approval marks a significant milestone, allowing for the expansion and adoption of Rail Vision's technology across Europe, aiming to enhance railway safety and operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 1:52 pm

BABA

NVDA

RIVN

TSLA

Cryptocurrencies trade mixed as Dogecoin mirrors 2023 bull market patterns, and Bitcoin's potential post-halving correction could target $40K. Rivian rebounds in premarket trading. Analysts predict a pause in US stock rally and discuss potential impacts of a second Trump presidency. International tensions rise with US-China relations and covert operations in Ukraine. Tech sector sees Nvidia's upside potential and Alibaba's optimism, while electric vehicle companies like Tesla and Rivian make headlines. Broadcom nears a strategic sale, and financial deals include Ant Group's acquisition of Credit Suisse's China unit.

Portfolio Pulse from Akanksha Bakshi

February 26, 2024 | 1:46 pm

GILD

Gilead Sciences, Inc. (GILD) announced its participation in CROI 2024, presenting new data from its antiviral research programs, including studies on HIV, COVID-19, and viral hepatitis. Key highlights include findings on Biktarvy and investigational regimens like lenacapavir plus bictegravir, and the impact of Veklury on COVID-19 mortality. The presentations underscore Gilead's commitment to biomedical innovation and addressing global viral disease challenges.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 1:39 pm

FLUX

Flux Power, a company specializing in advanced battery technology, has announced the appointment of Kevin Royal as its new Chief Financial Officer. This strategic move is aimed at strengthening the company's financial leadership as it continues to grow and expand its market presence.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 1:38 pm