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Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, is considering testifying in his criminal fraud trial. He is accused of stealing billions from FTX customers and using the funds for speculative venture investments, political donations, and repaying lenders to his hedge fund, Alameda Research. Bankman-Fried has pleaded not guilty, arguing that he never intended to defraud anyone.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 2:40 pm

HSY

Consumer Reports has urged Hershey's to remove heavy metals from its chocolate products. The advocacy group has raised concerns about the potential health risks associated with these substances.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 2:14 pm

Morgan Stanley (NYSE:MS) released a research note predicting the outcomes of the upcoming FOMC meeting and press conference. The bank expects the FOMC statement to acknowledge economic expansion and labor market strength, and to highlight the Israel-Hamas conflict's implications for the U.S. economy. Morgan Stanley also anticipates a softer guidance from September and no change in the Fed's balance sheet normalization plans. The bank does not foresee the U.S. economy entering a recession before H1 2025.

Portfolio Pulse from surbhi@benzinga.com

October 25, 2023 | 1:50 pm

SCU

Sculptor Capital Management has announced that it is uncertain when a consortium would be ready to execute a transaction, or if an agreement can be reached. As of October 24, the consortium's $13.50 proposal must be evaluated on a risk- and timing-adjusted basis, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:36 pm

RITM

SCU

Sculptor Capital Management Consortium has made a non-binding proposal to acquire a company at a price of $13.50 per share. However, the proposal is not considered superior to the Rithm transaction, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:35 pm

ADI

AMD

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ENPH

GFS

INTC

LHX

NXPI

QCOM

The Biden administration has selected 31 tech hubs across the U.S. as part of the CHIPS and Science Act, which appropriates $56 billion to renationalize strategically important parts of the semiconductor supply chain. The tech hubs, composed of private companies, local governments, universities, labor unions, and non-profits, will be able to compete for grants of up to $75 million to boost their research and production capacities. Among the top semiconductor makers in the U.S. are Intel Corp., L3Harris Technologies, Inc., Qualcomm Inc., Amkor Technology Inc., NXP Semiconductors USA, Inc., GlobalFoundries Inc., Enphase Energy, Advanced Micro Devices Inc., and Analog Devices, Inc.

Portfolio Pulse from Natan Ponieman

October 25, 2023 | 1:33 pm

ABAT

American Battery Technology Company (ABTC) (NASDAQ:ABAT) is advancing its commercial-scale hydrometallurgical battery recycling facility in Nevada. The facility, which has been designated as a regional 'innovation and technology hub' by the Biden Administration, has the capacity to process over 20,000 metric tonnes per year of battery feedstock materials. Strategic partnerships have been announced with BASF, Nanotech, and FedEx for sourcing and off-take of recycled products. The company's operations and commercial scale-up of this recycling facility is further de-risked by having been awarded several competitive grants from the U.S Department of Energy (DOE).

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:19 pm

SAVA

Cassava Sciences, Inc. (NASDAQ:SAVA) announced a significant safety finding based on interim MRI brain data from Alzheimer's patients enrolled in a Phase 3 clinical trial of simufilam. The data suggests that simufilam is not associated with amyloid-related imaging abnormalities (ARIA), a known risk factor for Alzheimer's patients taking anti-amyloid antibody drugs. The safety finding is based on an independent, interim neuroradiological evaluation of brain MRIs taken at week 40 in a blinded sub-study of 180 Alzheimer's patients.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:17 pm

EDSA

Health Canada has approved Edesa Biotech's proposal to harmonize clinical trial designs in the U.S. and Canada for an ongoing Phase 3 study of EB05 (paridiprubart).

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:15 pm

TLSI

TriSalus Life Sciences (NASDAQ:TLSI) will present new data from its clinical development pipeline at the Society for Immunotherapy of Cancer (SITC) 38th Annual Meeting. The presentations will include data on liver metastases and pancreatic cancer, and will feature the company's novel delivery technology integrated with immunotherapy.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:09 pm