Streetbeat News

Regulatory

JNJ

KVUE

The WHO is set to issue a global alert about contaminated Johnson & Johnson children's cough syrup, with tainted batches found in Nigeria. The issue traces back to a batch from South Africa, now under Kenvue Inc's purview after a spin-off. Despite the recall in six African countries, no adverse effects have been reported. Investigations are ongoing, with a focus on raw material sources and potential counterfeits. JNJ shares slightly rose by 0.35%.

Portfolio Pulse from Vandana Singh

April 19, 2024 | 2:17 pm

CAN

Canaan has filed a shelf registration statement with the SEC, emphasizing that it is a standard procedure to prepare for future strategic needs. The company clarifies that this does not necessarily mean they will offer or sell securities immediately, as the registration has not yet become effective. The terms of any offerings will depend on market conditions and will be detailed in future prospectus supplements.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:15 pm

RWOD

Redwoods Acquisition Corp. (RWOD) shares surged after shareholders approved a merger with Anew Medical, changing its name to Anew Medical post-transaction. The deal, valued at $94 million, is expected to provide $54 million in cash proceeds. RWOD's stock has declined over 22% in the past year but jumped 53.80% to $12.30 recently. Last year, RWOD received a delinquency notice from Nasdaq for not filing its Q1 report on time.

Portfolio Pulse from Nabaparna Bhattacharya

April 19, 2024 | 2:09 pm

BMY

GILD

JNJ

LEGN

NVS

TSVT

The FDA mandates boxed warnings for all CAR-T-based blood cancer therapies, including those by Bristol Myers Squibb, Johnson & Johnson, and others, due to risks of secondary cancers. Updates to labels and lifelong monitoring for secondary malignancies are required.

Portfolio Pulse from Vandana Singh

April 19, 2024 | 1:28 pm

LKNCY

NYKHF

SBUX

Nayuki Holdings Ltd. (OTC:NYKHF) faces increased competition as it slows store openings and tweaks its franchising model. The premium tea seller, known for its bubble tea, is adjusting its strategy to boost presence in smaller cities. Meanwhile, at least five major rivals, including industry leader Mixue and newly listed Chabaidao, have filed for IPOs in Hong Kong, increasing competition for investor attention. Nayuki's P/S ratio of 0.72 contrasts with Chabaidao's 1.4, indicating investor wariness towards the sector. Nayuki's stock has declined significantly, reflecting skepticism and challenges ahead, including quality control and margin pressure in franchising.

Portfolio Pulse from The Bamboo Works

April 19, 2024 | 1:23 pm

META

The Dutch Privacy Watchdog has advised government organizations to cease using Facebook due to privacy concerns, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:06 pm

GOOG

GOOGL

The U.K.'s Information Commissioner’s Office (ICO) has expressed concerns over Google's Privacy Sandbox, suggesting it may not adequately protect consumer privacy. This initiative aims to phase out third-party cookies by the second half of 2024, raising issues about potential impacts on competition in the digital advertising sector. The ICO's findings and dialogue with the Competition and Markets Authority (CMA) highlight regulatory scrutiny over Google's privacy measures and their implications for the online advertising industry.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 1:04 pm

SGBX

Safe & Green Holdings Corp (SGBX) announced a delay in filing its 10-K for the year ended Dec. 2023 due to complexities in its audit, including the spin out of Safe & Green Development Corp. The company is finalizing its audit and plans to report its financial results soon.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:02 pm

DJT

Trump Media & Technology Group's shares are experiencing increased trading activity due to ongoing volatility. The company has communicated with Nasdaq, expressing concerns over suspected short selling of its shares.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:02 pm

DJT

Trump Media & Technology Group issued a letter to Nasdaq on April 18, addressing concerns about naked short selling of its stock and potential market manipulation.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:56 pm