Streetbeat News

Corporate Responsibility

SLGC

Madryn Asset Management, a significant shareholder of SomaLogic, has publicly opposed the proposed acquisition of Standard BioTools by SomaLogic. Madryn believes the transaction is not in the best interests of shareholders and has urged them to vote against it. The firm criticizes the deal's strategic rationale, financial terms, and potential impact on SomaLogic's future.

Portfolio Pulse from Bill Haddad

January 04, 2024 | 7:26 pm

MCD

QSR

WEN

YUM

McDonald's Corp (MCD) stock has seen a slight decline after CEO Chris Kempczinski released a letter on LinkedIn discussing potential business headwinds in the Middle East due to the war and associated misinformation. Kempczinski emphasized the local community connections of McDonald's franchises. Other fast-food companies such as Wendy's Co (WEN), Restaurant Brands International Inc (QSR), and Yum! Brands Inc (YUM) also experienced stock movements. McDonald's is set to report quarterly earnings soon, with analysts expecting $2.82 EPS on $6.44 billion revenue.

Portfolio Pulse from Adam Eckert

January 04, 2024 | 6:46 pm

CURLF

GTBIF

Otha Smith III, CEO of Tetragram, discusses the company's role in cannabis consumer data analytics since Maryland legalized medical marijuana. Tetragram provides a HIPAA-compliant app for users to journal cannabis experiences, focusing on terpenes and cannabinoids. The company collaborates with 40 Tons for diversity and justice, and has partnerships with Curaleaf Holdings Inc (CURLF) and Green Thumb Industries Inc (GTBIF). Smith emphasizes the importance of informed purchases over THC content and shares his personal shift from opioids to cannabis. Tetragram aims to expand research and include psychedelics on their platform.

Portfolio Pulse from Joana Scopel

January 04, 2024 | 6:23 pm

EVO

Evotec's stock price has declined following the announcement of a CEO transition. The change in leadership can lead to uncertainty about the company's future direction and performance, which may concern investors.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 6:16 pm

DCGO

DocGo's CEO has defended the company's performance on a contract for migrant care in New York City, asserting that the NYC pact aligns with their broader mission to enhance the accessibility of at-home healthcare services.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 5:34 pm

MCD

QSR

WEN

YUM

McDonald's President Chris Kempczinski shared a LinkedIn report discussing the company's innovation and growth strategy, 'Accelerating the Arches', which led to achievements in 2023 such as 150 million active loyalty users and expansion of products like McCrispy and Best Burger. Despite challenges from the war in the Middle East and associated misinformation, McDonald's remains committed to local communities and plans to continue innovating and expanding in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 5:24 pm

ACET

Adicet Bio's stock price is on the rise following the company's announcement of its 2024 goals, which include advancing allogeneic T cell therapy candidates for oncology and autoimmune diseases.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:55 pm

AAPL

FXI

Apple's suppliers, including Foxconn, have invested $16 billion since 2018 to diversify manufacturing away from China due to US/China trade tensions, COVID measures, and power supply issues. TD Cowen's research indicates Apple's revenues were impacted by over $30 billion during the pandemic. Reshoring efforts are aimed at reducing future production disruptions, with investments in India, Mexico, the US, and Vietnam. Apple's operating margins may benefit long-term, despite higher near-term costs. iPhone production remains largely in China, but India is emerging as a significant manufacturing hub. Vietnam is becoming a major hub for Mac and iPad production, potentially meeting 40% of US demand. The reshoring process is expected to take years, with challenges in establishing new plants and organizing supply chains.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:19 pm

HIVE

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) reported an increase in its Bitcoin (BTC) holdings and provided a production and corporate update for December 2023. The company produced 282.8 BTC, averaging 9.1 BTC per day, and ended the month with a mining capacity of 4.08 EH/s. HIVE's HODL position grew to 1,707 BTC. Additionally, HIVE announced the appointment of Luke Rossy as COO and Mario Sergi as CIO. The New Brunswick facility is expected to resume operations in January 2024 with a capacity of 2 EH/s. Bitcoin network difficulty increased by 6% in December, impacting gross profit margins for miners.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:12 pm

MCHP

Microchip Technology Incorporated (NASDAQ:MCHP) is set to receive $162 million in incentives from the U.S. Commerce Department to support the onshoring of its semiconductor supply chain. This investment aims to rebuild America's semiconductor supply chain, enhance security for the defense industrial base, reduce prices, and create over 700 jobs in Colorado and Oregon. The funding will be used to modernize and expand fabrication facilities in these states, nearly tripling the output of semiconductors and reducing reliance on foreign foundries.

Portfolio Pulse from Nabaparna Bhattacharya

January 04, 2024 | 4:09 pm