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Elon Musk's acquisition of Twitter (now X) has reportedly lost 90% of its value. General Motors' wage offer has been branded as 'insulting' by UAW President Shawn Fain. Stellantis has opened its first Battery Technology Center in Italy. Kroger and Albertsons have agreed to sell select assets to C&S Wholesale Grocers for $1.9 billion. Kroger also reported a Q2 sales decline and reached a settlement for opioid claims. UK's NICE has endorsed Eli Lilly's diabetes medication, Mounjaro. Hooker Furnishings reported a Q2 sales decline. PVH Corp's subsidiary, Calvin Klein, has signed a licensing deal with Revman. Apple has responded to the discovery of zero-day exploits. Workers at Chevron's LNG projects in Australia have gone on strike. Zoom has engaged with regulators over Microsoft's perceived anticompetitive behavior. Google has cut ties with Joshua Wright over sexual harassment allegations. Goldman Sachs is preparing for another round of job cuts. Spotify plans to offer free audiobooks to its paying subscribers. Carl Icahn has shown support for Illumina's new CEO.

Portfolio Pulse from Vandana Singh

September 08, 2023 | 2:32 pm

KR

Kroger's CEO has stated that sustained inflation, reduced government benefits including SNAP, and higher interest rates have put pressure on customer spending.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 2:07 pm

SPY

USA Wholesale Trade Sales for July increased by 0.8%, beating the estimated -0.2% and improving from the prior -0.8%.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 2:00 pm

RENT

Rent The Runway expects its Q3 revenue to be between $72M and $74M, which is lower than the estimated $84.74M.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:05 pm

RENT

Rent The Runway has projected its FY23 revenue to be at least $296.4 million.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:05 pm

GOL

Gol Linhas Aereas has released its preliminary traffic figures for August, showing a 21.7% year-on-year increase in total seats and a 17.8% year-on-year increase in the number of departures.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 11:36 am

AZN

Verge Genomics has announced a four-year collaboration with Alexion, a unit of AstraZeneca, to develop drug targets for rare neurodegenerative and neuromuscular diseases. Verge will receive up to $42M upfront with a potential deal value of $840M plus royalties.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 11:12 am

IMOS

ChipMOS Technologies reported a revenue of $57.5M in August 2023, a 6.9% YoY increase but a 0.2% decrease from July 2023. The company attributes the growth to stabilization in loading levels of its DDIC high-end test platform and improvements in its Memory business.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 10:03 am

NAAS

NaaS Technology Inc has reaffirmed its FY23 revenue guidance of $69M-$83M, representing a year-over-year increase of 5 to 6 times, based on the current market conditions.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 9:38 am

AAPL

FXI

Morgan Stanley has stated that China's increasing restrictions on the iPhone will at most impact Apple's revenues by 4%. The firm also believes that the recent 2-day stock sell-off on Apple due to China's actions is overdone.

Portfolio Pulse from Charles Gross

September 08, 2023 | 9:29 am