Streetbeat News

Legal

PFE

Pfizer Inc (NYSE:PFE) is expected to report a Q4 2023 EPS loss of $(0.22) and revenues of $14.25 billion. The company's FY24 revenue forecast includes contributions from the Seagen acquisition, with adjusted EPS guidance lower than consensus. Pfizer's obesity drug trial showed efficacy but had high dropout rates due to side effects. Additionally, a former Pfizer employee was convicted of securities fraud. PFE shares dropped 1.69% in premarket trading.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 2:26 pm

AAPL

FSR

GOOGL

LCID

NVDA

RIVN

TSLA

Tesla's Bitcoin reserves remain at $184M without buying or selling in Q4. Apple outperforms Huawei in China despite competition and ban. NVIDIA introduces AI-powered video and new GPU. Apple's iOS 17.3 allows pronoun sharing, and its headset exceeds sales expectations. Tesla reports downbeat results affecting EV stocks like Rivian, Lucid, and Fisker. Google's Alphabet dodges a $1.67B lawsuit. Tesla acknowledges EV adoption issues but won't increase ad spend. Elon Musk discusses regulations and Optimus bot deployment.

Portfolio Pulse from Akanksha Bakshi

January 25, 2024 | 1:54 pm

WINT

Windtree Therapeutics, Inc. (WINT) has reached an agreement with Deerfield Management Company to eliminate a $15M contingent liability related to milestone payments for AEROSURF®. In return, Windtree will issue 608,272 shares of common stock and make two $100,000 cash payments to Deerfield. The company believes this strengthens its financial position and simplifies its balance sheet. Windtree's lead asset, istaroxime, is in clinical trials for cardiogenic shock and acute heart failure, with a new license agreement with Lee's Pharmaceuticals.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:40 pm

XXII

22nd Century Group announced the mutual termination of the employment and retention agreements with CFO R. Hugh Kinsman, according to an SEC filing. Kinsman will continue to serve as the company's CFO on an at-will basis, and the termination is not expected to impact his role within the company.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:39 pm

FB

Meta Platforms Inc. (NASDAQ:FB) has introduced new safety measures for teenagers on Instagram and Facebook, restricting adults from messaging teens who don't follow them and limiting the type and number of DMs to non-followers. The changes also include disabling teens from receiving DMs from unknown contacts and requiring parental consent for supervised accounts to change this setting. These measures are in response to allegations against Meta for not adequately protecting young users from inappropriate content.

Portfolio Pulse from Rounak Jain

January 25, 2024 | 1:37 pm

TSLA

Elon Musk, CEO of Tesla, Inc. (NASDAQ:TSLA), expressed concerns about proxy advisory firms like Institutional Shareholder Services and Glass Lewis potentially voting him out as he aims to grow Tesla into a significant AI and robotics company. Musk seeks to have enough voting control to be influential but not full control, suggesting a 25% stake as ideal. Critics, including Jim Cramer, see this as a potential risk to Tesla's stock price. Tesla's AI and robotics are crucial for its future growth, particularly in self-driving technology and production efficiency. Musk currently owns just under 13% of Tesla and could increase his stake to over 20% through option exercises. Following these revelations, Tesla's stock dropped about 8% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

January 25, 2024 | 12:55 pm

NOK

Nokia Corporation (NYSE:NOK) anticipates growth in its network infrastructure business in H2 2023, alongside a €600 million share buyback over two years. Despite a challenging 2023 with lower net income and revenue, and ongoing patent litigation, Nokia forecasts a 2024 adjusted operating profit of €2.3-2.9 billion. CEO Pekka Lundmark acknowledges the tough environment may continue into early 2024. Nokia recently settled a patent dispute with Oppo and is close to resolving another. However, shares have fallen 25% over the past year.

Portfolio Pulse from Ananya Gairola

January 25, 2024 | 12:09 pm

TSLA

Ross Gerber, CEO of Kawasaki Wealth and Investment Management and a Tesla investor, criticized Elon Musk's leadership and Tesla's board, expressing concerns about the company's future. He highlighted Musk's controversial statements, alleged antisemitic content amplification, and Tesla's dynamic pricing model as negative factors impacting Tesla's stock, which has dropped 22% over six months. Despite this, Tesla's market cap remains around $655.3 billion.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 11:56 am

NTDOY

The Pokemon Company, funded by Nintendo ADR (OTC:NTDOY), is investigating 'Palworld' for potential intellectual property infringement. 'Palworld', developed by PocketPair, has been criticized for its resemblance to Pokemon, selling over 8 million copies since January 18. Despite controversy and threats to its developers, the game has seen significant success, even surpassing major titles in initial sales.

Portfolio Pulse from Ananya Gairola

January 25, 2024 | 10:19 am

AAPL

META

The EU's Digital Markets Act is pressuring tech giants like Meta Platforms Inc. and Apple Inc. to open up their messaging services to third-party chats. WhatsApp, owned by Meta, has already started restructuring to support this interoperability, as seen in the latest iOS beta version. Apple's iMessage may also have to comply, with a final verdict expected soon. Apple has announced plans to support the RCS standard, which could influence the EU's decision regarding iMessage's compliance with antitrust legislation.

Portfolio Pulse from Ananya Gairola

January 25, 2024 | 7:29 am