Streetbeat News

Regulatory

TFX

Teleflex announced the availability of its Titan SGS Stapler, designed for gastric tissue and sleeve pouch creation in bariatric procedures, now with staple line reinforcement. The product received FDA 510(k) clearance on October 6, 2023, and is currently available for pre-order.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:39 am

CRRFY

PEP

PepsiCo Inc (NASDAQ:PEP) clarified that it initiated the breakup with Carrefour (OTC:CRRFY), contrary to previous reports. The split is due to a deadlock in contract negotiations over price increases. PepsiCo's decision to stop supplying Carrefour's European stores is a response to Carrefour's announcement to stop selling PepsiCo products in France, Italy, Spain, and Belgium. The dispute is significant as it involves approximately 0.25% of PepsiCo's global revenue and occurs amidst French government pressure on suppliers to lower prices due to high food inflation.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 11:37 am

EMBC

Embecta Corp. has submitted a 510(k) premarket notification to the FDA for a new proprietary disposable insulin delivery system. This submission is a significant step for Embecta in expanding its product portfolio in the diabetes care market.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:02 am

BAC

Bank of America Corp (BAC) anticipates a $1.6 billion non-cash, pretax charge in Q4 FY23 due to the phase-out of a Bloomberg interest rate benchmark. The charge is expected to be recouped into interest income mostly by 2026 as BSBY-indexed loans transition to SOFR. The one-time charge has reduced BAC's CET1 ratio by eight basis points. BAC's Q4 FY23 results will be reported on January 12, 2024. BAC shares dropped 0.50% in premarket trading.

Portfolio Pulse from Lekha Gupta

January 09, 2024 | 10:51 am

LIXT

Lixte Biotechnology has been granted a U.S. patent (#11866444) for oxabicycloheptane prodrugs. This patent strengthens the company's intellectual property portfolio and could potentially enhance its market position by protecting its novel drug developments. The patent grant is a positive development for Lixte Biotechnology, as it may provide a competitive edge in the biotech industry and could lead to partnerships or licensing deals in the future.

Portfolio Pulse from Charles Gross

January 09, 2024 | 10:36 am

GRFS

Grifols has responded to allegations made by Gotham City Research about the company's accounting and financial disclosure practices, categorically denying any wrongdoing. Grifols emphasizes its commitment to transparency and ethical conduct, stating that all significant transactions are fully disclosed and audited by a big-four firm, which has consistently issued unqualified audit reports.

Portfolio Pulse from Charles Gross

January 09, 2024 | 10:27 am

EWT

FXI

SPY

Taiwan's Defense Ministry issued an apology for a false emergency alert sent to cellphones, which mistakenly identified a Chinese satellite launch as a missile flyover in Taiwan's airspace.

Portfolio Pulse from Charles Gross

January 09, 2024 | 10:17 am

VGK

The Eurozone unemployment rate for November came in at 6.4%, which is lower than the estimated 6.5% and also below the prior rate of 6.5%.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:01 am

C

HSBC

JPM

SCBFF

Saudi Arabia has issued $12 billion in debt, its largest foreign borrowing since 2017, contributing to the $25 billion of bonds issued by developing countries this year. The move aims to cover more than half of the nation's fiscal deficit for the year. Citigroup Inc. (C), JPMorgan Chase & Co. (JPM), HSBC Holdings Plc (HSBC), and Standard Chartered Plc (SCBFF) were the main banks handling the sale. Despite this borrowing, Saudi Arabia's total funding requirements are only partially met, but the country's debt stock remains low, allowing for further capital raising. Additionally, Saudi Arabia has cut oil prices significantly, impacting crude oil markets.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 8:58 am

META

NVDA

Goldman Sachs analyst Peter Oppenheimer predicts a new economic 'super cycle' driven by AI and decarbonization. The cycle differs from the one that began in the 1980s, as it won't rely on declining interest rates or globalization. AI's influence on productivity and decarbonization efforts are seen as new growth drivers. Last year, AI advancements led to significant gains for companies like Nvidia and Meta. Despite a rocky start to 2024, Wall Street is optimistic about AI's market impact. Decarbonization is also expected to stimulate economic growth as economies modernize in response to climate change. Goldman Sachs refuted AI bubble fears in 2023, projecting AI investment to reach $200 billion globally by 2025.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 8:28 am