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GIL

Oakcliff Capital, a shareholder of Gildan Activewear Inc. (NYSE:GIL), has sent a letter to Gildan's Board of Directors expressing dissatisfaction with the firing of CEO Glenn Chamandy and the direction of the board. Oakcliff, which owns 0.4% of Gildan's shares, is calling for Chamandy's reinstatement and a change in the board's chairman, as well as the addition of two shareholder representatives. They believe these changes are urgent to resolve the uncertainty affecting Gildan's customer and employee relationships.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:17 pm

ILMN

Carl Icahn is intensifying his boardroom battle at Illumina Inc (NASDAQ:ILMN) by seeking to remove more directors after the company's decision to divest Grail Inc. Icahn, who successfully pushed for the ousting of former CEO Francis deSouza and the divestiture of Grail, now aims to remove 'legacy conflicted directors' whom he blames for poor decision-making and a significant drop in Illumina's share price. The activist investor's plans may change before the January 26 nomination deadline, with voting on nominees expected at the next annual general meeting.

Portfolio Pulse from Vandana Singh

December 19, 2023 | 12:58 pm

BIIB

TEVA

The European Commission has withdrawn marketing authorizations for generic versions of Biogen's multiple sclerosis drug Tecfidera, which is protected until February 3, 2025. This affects generics by Accord, Mylan, Neuraxpharm, Polpharma, and Teva. Biogen has taken legal steps to enforce its market exclusivity and confirms it can supply the entire European market with Tecfidera.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:38 pm

ATNM

Actinium Pharmaceuticals has been granted U.S. Patent #11844799, which covers a method for treating cancer by combining a BCL-2 inhibitor with an alpha-emitting radioimmunotherapeutic. This patent strengthens Actinium's intellectual property portfolio and could potentially enhance the company's therapeutic offerings in the oncology market.

Portfolio Pulse from Charles Gross

December 19, 2023 | 12:35 pm

BLK

EBIX

Ebix Inc. (NASDAQ:EBIX) has filed for bankruptcy in the U.S. due to debts over $600 million, casting doubt on the future of its Indian subsidiary, EbixCash, and its planned IPO. The bankruptcy stems from unpaid loans, increased interest expenses, a change in auditing firm, and a negative report from Hindenburg Research. CEO Robin Raina, the largest shareholder, and other major shareholders like BlackRock Inc. (NYSE:BLK) are affected. EbixCash's RBI license could be at risk, and there's controversy over Raina's $1.8 million bonus amid the financial crisis.

Portfolio Pulse from Shomik Sen Bhattacharjee

December 19, 2023 | 12:34 pm

TSLA

Senator Richard Blumenthal criticizes Tesla's recall of over 2 million vehicles for Autosteer issues as insufficient and urges the NHTSA to take stronger action. Blumenthal highlights safety concerns with Tesla's Autopilot and references Elon Musk's previous mocking of the NHTSA. The conflict between Musk and regulators is escalating, with Musk recently criticizing the FCC and alleging political targeting by the Biden administration. Despite direct sales bans in some states, Tesla opened a sales center in Connecticut on tribal land.

Portfolio Pulse from Anan Ashraf

December 19, 2023 | 12:13 pm

AMZN

DBX

MSFT

Dropbox Inc. (DBX) introduced an AI-powered search feature for subscribers, developed in partnership with OpenAI, backed by Microsoft Corp. (MSFT). The feature, enabled by default, raised privacy concerns among users, including Amazon.com Inc.'s (AMZN) CTO Werner Vogels. Dropbox CEO Drew Houston denied sharing user data with third parties, but the option to disable the AI search has been hidden, causing further controversy.

Portfolio Pulse from Rounak Jain

December 19, 2023 | 11:02 am

DADA

Dada Nexus has announced the immediate resignation of Lijun Xin as Chairman of the Board and member of the Nominating and Corporate Governance Committee. Ian Su Shan will take over the roles previously held by Mr. Xin.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:24 am

SONY

The Rhysida ransomware group leaked over 1TB of data from Sony Group Corp.'s Insomniac Games, including details on an unreleased Wolverine game for PlayStation 5. The leak occurred after Insomniac did not pay a $2 million ransom, resulting in 98% of the data being dumped online. This included files on the Wolverine game, Spider-Man 2, internal HR documents, and a publishing agreement for three X-Men games. Sony is investigating the breach, which highlights ongoing security vulnerabilities after a previous breach in October 2023.

Portfolio Pulse from Benzinga Neuro

December 19, 2023 | 9:52 am

F

TSLA

Sen. Joe Manchin is pushing to overturn the Treasury's exemption on EV tax credit rules, which he believes could benefit Chinese companies and increase U.S. reliance on China for EV battery and component supply chains. This could impact Ford and Tesla, as some of their EV models may not qualify for tax credits in the coming year. The Treasury's guidance restricts the use of Chinese content in batteries, with new regulations set to decrease U.S. reliance on China starting in 2024 and 2025.

Portfolio Pulse from Navdeep Yadav

December 19, 2023 | 9:42 am