Benzinga
- Florida Governor Ron DeSantis quietly signed legislation prohibiting abortions after the first six weeks of pregnancy within the state on Thursday.
- DeSantis signed the measure, which would likely weigh on his 2024 presidential bid, just hours after the legislature passed it in the afternoon but announced it late in the evening on his Twitter account.
- "We are proud to support life and family in the state of Florida," DeSantis said.
Elon Musk To Host Exclusive Twitter AMAs, Spaces Sessions For Subscribers
- Elon Musk, the most followed person on Twitter, is ready to engage with netizens relatively more regularly — but there's a catch.
- On Friday, the tech billionaire and entrepreneur announced that he would be hosting an exclusive ask-me-anything session "once every few weeks" for subscribers.
- At this point, it is unclear whether Musk is referring to Twitter Blue subscribers or his subscribers — who can subscribe for his "content" by availing of the new " Subscriptions " feature as it is unavailable in all the regions around the world.
PayPal's Outgoing CEO Dan Schulman Got A Significant Pay Cut for FY22, Down 32% To $22M
- PayPal Holdings Inc PYPL granted $22.0 million to CEO Dan Schulman as CEO pay for FY22, down from $32.1 million a year ago.
- In February, Dan Schulman shared his plans to retire as CEO at year-end. The board has formed a CEO search committee and retained a search firm to help identify Schulman's successor.
Amazon Seeks First Incentives For Virginia Headquarters
- Amazon.Com Inc AMZN sought its first round of economic incentive payments from Virginia for its new Arlington headquarters.
- The incentive could imply over $152 million in state money paid to the tech giant by late 2026.
- The state promised up to $750 million for Amazon's new Northern Virginia offices, the first phase of which will likely open in June.
Elon Musk's SpaceX Holds Up Transporter-7 Launch Again As Weather Plays Spoilsport
- Elon Musk's SpaceX has postponed the launch of Transporter-7 to April 14 at around midnight Pacific Time, citing unfavorable weather conditions.
- SpaceX is now looking to launch the Transporter-7 mission on Friday, April 14 at 11:47 p.m. PT from California, the company said on its website.
- Transporter-7 is the rocket manufacturer's seventh dedicated smallsat rideshare mission. Initially expected to be launched on April 11, it was postponed to April 13 and now again to April 14.
Palantir-Backed Faraday Future Delays Deliveries Of Flagship EV Again, Seeks Funding
- California-based EV firm Faraday Future Intelligent Electric Inc FFIE further postponed the delivery timeline of its FF 91 vehicles after certain suppliers flagged its inability to meet the company's timeline.
- Faraday Future will commence reservations for its FF 91 vehicles in late May, the company said in a statement on Thursday. Those who reserve will take possession of the vehicle in the second phase of the three-phase delivery process, expected to commence at the end of the second quarter.
Wells Fargo Q1 Results Beat Expectations, Net Interest Income Jumps 45%
- Wells Fargo & Co WFC shares are up 3% premarket Friday following its solid first-quarter results that beat Street expectations.
- WFC reported first-quarter FY23 revenue growth of 17% year-over-year to $20.73 billion, beating the consensus of $20.07 billion.
- Q1 Net interest income was $13.3 billion (+45% Y/Y), and noninterest income was $7.4 billion (-13% Y/Y).
- JPMorgan Chase & Co JPM reported Q1 net revenue (managed) of $39.3 billion, up 25% Y/Y, beating the consensus of $36.2 billion. Reported revenue was $38.35 billion, up 21.4% Y/Y.
- Noninterest revenue stood at $18.5 billion, up 5% Y/Y, on higher CIB Markets noninterest revenue.
- Noninterest expense increased 5% Y/Y to $20.1 billion due to higher structural costs and ongoing investments.
- Private Equity EQT is discussing a possible takeover offer of a U.K. veterinary pharmaceutical company Dechra Pharmaceuticals Plc DCHPF DPHAY, sending shares gaining over 30% on Friday morning in response.
- Dechra Pharmaceuticals confirmed that it has entered into discussions with the Swedish private equity giant about a possible all-cash offer.
- The bid would value Dechra, listed on the FTSE 250, at roughly £4.6 billion.
FDA Strikes Down Eli Lilly's Application Seeking Approval For Ulcerative Colitis Drug
- The FDA has issued a complete response letter for Eli Lilly And Co's LLY mirikizumab biologic license application (BLA) for ulcerative colitis (UC).
- In the letter, the FDA cited issues related to the proposed manufacturing of mirikizumab, with no concerns about the clinical data package, safety, or label for the medicine.
- In January, the FDA issued a complete response letter for the accelerated approval submission of Eli Lilly's donanemab for early symptomatic Alzheimer's disease due to the limited number of patients with at least 12 months of drug exposure data provided in the submission.
BP Starts Pumping Crude At Argos Platform In The Gulf Of Mexico
- BP plc BP has started oil production at its Argos offshore platform in the Gulf of Mexico.
- Argos has a gross production capacity of up to 140,000 barrels of oil daily. It is BP's fifth platform in the Gulf of Mexico and the region's first new BP-operated production facility since 2008.
- Argos is expected to increase BP's gross operating production capacity in the Gulf of Mexico by 20%.
CNBC
Did Jim Cramer Just Jinx Boeing With His 'Really Incredible' Comment?
- CNBC Mad Money host Jim Cramer is notorious for his calls that invariably go wrong, so much so that an Inverse Cramer Tracker ETF has recently been launched to capitalize on his bets that go awry.
- Cramer was at it again late Thursday when he tweeted about aerospace giant Boeing Co BA. "Boeing's really incredible," he said.
- Arlington, Virginia-based Boeing said Thursday that production issues would impact deliveries of a significant number of 737 Max jets, multiple media reports said, citing the company.
Bloomberg
- WW International Inc WW or WeightWatchers snapped telemedicine company Sequence in March after scanning through 30 different startups that prescribe obesity medications, CEO Sima Sistani said.
- Sistani credited Sequence for building a superior tech stack in Thursday's Bloomberg Radio interview. Sequence's preauthorization engine helped ease the challenges of health insurance reimbursement for the costly obesity drugs, Sistani said.
Long COVID-Fatigue Impacts 50M People - Axcella Health Seeks Funding To Support Drug Development
- Axcella Health Inc AXLA is reportedly looking for funding to support its advanced trial of a drug initially found to improve fatigue in long Covid patients.
- An early-stage trial of the drug, dubbed AXA1125, with the University of Oxford, found that participants given the treatment significantly improved fatigue compared with those in the placebo arm, according to the results published Friday in the Lancet eClinical Medicine journal.
- Axcella has the U.S. and the U.K. regulatory authorization to proceed with advanced trials, and the company plans to enroll about 300 people once funding is secured.
Wall Street Journal
Subway Sandwiches: The Latest Menu Item on Billionaire Investors' Plates
- A bidding war has started for the auction of the sandwich chain, Subway, with suitors heading toward the second round of bidding.
- There are over ten possible suitors, including some big private equity companies.
- Subway is seeking a valuation of $10 billion or more. The company's advisors have eliminated several interested parties for offering a low valuation in the first pool of bids last month.
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