Streetbeat News

Regulatory

AFYA

Afya Limited (NASDAQ:AFYA) has announced the acquisition of Unidom Participações S.A., including Unidompedro and Faculdade Dom Luiz, for R$660 million, adding 300 operational medical school seats in Brazil. The acquisition is structured with a mix of cash and installment payments, subject to the maintenance of seat authorizations. Afya expects an EV/EBITDA of 4.2x post-synergies, with significant revenue growth projected from the Medicine course by 2027. The deal's closure is contingent on antitrust regulator approval.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:44 pm

HRL

Hormel Foods has initiated a voluntary Class 1 recall for a limited number of PLANTERS 4 oz. Honey Roasted Peanuts and 8.75 oz. Deluxe Lightly Salted Mixed Nuts. These products were distributed to two retail locations across five states.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:22 pm

KIDS

OrthoPediatrics Corp. (NASDAQ:KIDS) announced receiving the FDA's "Breakthrough Device" designation for its eLLi Growing Rod System, aimed at treating Early Onset Scoliosis (EOS). This designation expedites the development and review of medical devices that offer more effective treatments for life-threatening or irreversibly debilitating diseases. The eLLi system provides a non-invasive means to extend growing rods with increased force, enhanced mechanical reliability, and superior distraction precision, addressing safety concerns of current technologies.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:12 pm

SPPL

SIMPPLE LTD. (NASDAQ:SPPL), a PropTech company, received a Nasdaq notification for not meeting the minimum bid price requirement. The company has until October 23, 2024, to regain compliance or face potential delisting. SIMPPLE is exploring options to address this issue and intends to regain compliance within the given timeframe.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:12 pm

LLY

NVO

In Britain, online pharmacies and slimming clinics are reducing prices for Novo Nordisk's Wegovy and Eli Lilly's Mounjaro due to easing supply shortages and increasing competition. This price reduction reflects the high demand for these weight-loss drugs. Despite the competitive pricing, concerns about patient care continuity persist. In Denmark, Novo Nordisk has lowered the price of its diabetes drug Ozempic following government subsidy restrictions. NVO shares dropped 4.02% to $124.02.

Portfolio Pulse from Vandana Singh

May 02, 2024 | 8:01 pm

ALK

BA

SPR

Boeing Co (NYSE:BA) shares rose despite another whistleblower's sudden death, amid broader market gains following the Fed's decision to maintain interest rates. The deceased, a former Spirit AeroSystems (NYSE:SPR) quality auditor, had raised safety concerns about Boeing's 737 Max, which previously faced scrutiny after an Alaska Air Group (NYSE:ALK) plane lost an emergency door. This incident adds to Boeing's ongoing safety and legal challenges, including a criminal investigation and potential DOJ penalties.

Portfolio Pulse from Natan Ponieman

May 02, 2024 | 7:37 pm

AEYE

ALKT

APP

CRWD

CWAN

Shares of software companies are trading higher following the Federal Reserve's decision to leave rates unchanged. Fed Chair Powell also mentioned that it is unlikely the next policy move would be a rate hike, contributing to market strength and optimism in the technology sector.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:28 pm

TD

TD Bank is under a Justice Department investigation for its role in laundering money from U.S. fentanyl sales, involving Chinese crime groups and drug traffickers. This probe, part of broader scrutiny into TD's anti-money laundering practices, has revealed instances of employee bribery and has already impacted TD's expansion plans, including a failed acquisition. TD has set aside $450 million for one inquiry and faces additional penalties, alongside a recent fine by a Canadian regulator for failing to report suspicious activities.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:25 pm

SQ

Block shares are experiencing a rebound after a decline on Wednesday due to reports that federal prosecutors are investigating the company's financial transactions.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:24 pm

IEF

SPTL

TLT

VGLT

The Federal Reserve's decision to keep interest rates unchanged while significantly reducing its quantitative tightening (QT) program has sparked diverse opinions on Reddit. Redditors debate the effectiveness of this decision, with some concerned about inflation and others viewing it as a move to prevent a financial crash and support the banking system. The reduction in QT is seen as potentially making long-term bonds more attractive, impacting investment strategies. ETFs like TLT, VGLT, SPTL, and IEF, which provide exposure to long-term Treasury bonds, could be affected by these changes.

Portfolio Pulse from Surbhi Jain

May 02, 2024 | 7:15 pm