Streetbeat News

Corporate Responsibility

BIIB

IONS

Biogen Inc (NASDAQ:BIIB) is discontinuing its Aduhelm Alzheimer's drug and the ENVISION clinical study, shifting focus to other Alzheimer's treatments like Leqembi and new modalities such as BIIB080 and BIIB113. The decision is not due to safety or efficacy concerns but to reallocate resources within its Alzheimer's franchise. BIIB080 is licensed from Ionis Pharmaceuticals Inc (NASDAQ:IONS). Biogen took a $60 million charge for the program's close-out costs in Q4 2023 and terminated its license with Neurimmune, returning the rights to aducanumab to them. Biogen's shares rose 0.81% to $249.07.

Portfolio Pulse from Vandana Singh

January 31, 2024 | 5:10 pm

MNTS

Momentus Inc. has announced the completion of all requirements under its National Security Agreement (NSA), leading to the termination of the NSA by the Committee on Foreign Investment in the United States (CFIUS). This marks a significant step for the company, potentially removing a major regulatory hurdle that could have impacted its operations and partnerships.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:28 pm

BA

During a conference call, a Boeing executive stated that the company plans to allocate more engineers to work on the Max 7 aircraft.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:20 pm

EBAY

eBay has reached a settlement with the U.S. Department of Justice, agreeing to pay $59 million and enhance its monitoring and reporting processes for listings that violate its terms of service. This settlement resolves an inquiry related to laws overseen by the Drug Enforcement Administration. eBay has denied any allegations of wrongdoing.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:15 pm

BA

During a conference call, Boeing's CFO expressed that executives remain 'confident' in achieving the company's financial goals for 2025-2026, although they anticipate it may take longer within that time frame than initially expected.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 3:56 pm

ALK

BA

Boeing's CEO acknowledged the company's accountability for the recent incident, regardless of the NTSB investigation's findings. He also praised the Alaska Airlines crew's response to the situation, admitting Boeing's responsibility for the problem.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 3:41 pm

WMT

Walmart Inc. (NYSE:WMT) announced plans to build or convert over 150 stores in the next five years and remodel 650 stores in the next 12 months, creating jobs and investing in communities. Additionally, Walmart will conduct a 3-for-1 stock split to make share purchasing more attainable for its associates. The stock split was approved by the board and aligns with the company's growth and future plans, aiming to encourage associate participation in stock ownership.

Portfolio Pulse from Nabaparna Bhattacharya

January 31, 2024 | 3:37 pm

EDBL

WMT

Edible Garden has updated on its sustainability initiatives, including participation in Walmart's Project Gigaton, aiming to reduce waste and improve supply chain productivity. The company is a leader in Controlled Environment Agriculture and is committed to a Zero-Waste Inspired mission.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:39 pm

AAPL

Epic Games has filed a court document accusing Apple Inc. (AAPL) of not fully complying with a court order to allow developers to direct users to alternative payment options outside the App Store. Apple requires developers to apply for 'Link Entitlement' and has limited the use of alternative links to the US iOS and iPadOS App Store. Additionally, Apple has reduced its commission on purchases made through external links to 27% from 30%, but Epic Games disputes Apple's compliance and plans to seek relief from the court.

Portfolio Pulse from Rounak Jain

January 31, 2024 | 2:29 pm

BA

Boeing CEO Calhoun stated on CNBC that the company has the 'plug issue' completely under control, indicating a resolution to a previously identified problem.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:26 pm