Latest news for CSPC Pharma Gr (OTC:CSPCY) Stock

CSPC Pharmaceutical Group listed on the Hong Kong Stock Exchange in 1994 and is one of the largest pharmaceutical companies in China. Its biggest business segment is the finished drugs segment which accounts for nearly 80% of its total revenue. Now it has a diversified pipeline portfolio in seven therapeutic areas including nervous system diseases, oncology, anti-infective to cardiovascular disease, respiratory system disease, and metabolism. CSPC also has a bulk drug product segment including vitamin C, antibiotics, and a caffeine series.

Penny Stocks

CSPCY

Key Takeaways:


	CSPC Pharmaceutical beat market forecasts with double-digit growth in first-quarter revenues and profits, driven by rising sales of drugs to treat strokes and dementia 
	The company has dozens of candidate drugs in the pipeline, under the direction of a reconfigured management team 


By Ken Lo 

CSPC Pharma Weighs Up Diet Drug For Bigger Bottom Line

Key Takeaways:


	BenQ Hospital has filed to list in Hong Kong, reporting its revenue rose 15% last year to 2.69 billion yuan 
	China’s largest private hospital operator will use its IPO funds to expand and upgrade its existing facilities


By Lau Chi Hang

BenQ Hospital Files For IPO As Business Looks Stable, But With Few Growth Spots

Government

News

Regulations

Media

BNTX

MRNA


	Chinese health authorities approved CSPC Pharmaceuticals Group Ltd&#39;s (OTC: CSPCY) messenger RNA (mRNA) COVID-19 vaccine for emergency use authorization.


China&#39;s First mRNA Vaccine: Drugmaker CSPC Wins China&#39;s Approval For COVID-19 Vaccine

CSPC PHARMS GRP U/ADR by CSPC Pharmaceuticals Group Ltd.

CSPC Pharmaceutical Group Ltd

Commencing with its&nbsp;first quarter&nbsp;of fiscal year 2025, the company will report its financial results based on two new reportable segments:&nbsp;Communication Services&nbsp;and&nbsp;Defense and Advanced Technologies.

VSAT

Reported Earlier, Viasat Streamlines Reporting Segments To Better Reflect Diverse Markets, Focuses On Communication Services And Defense

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) to report quarterly earnings at $1.63 per share on revenue of $11.55 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Bristol-Myers Squibb shares fell 0.4% to $45.10 in after-hours trading.</li>
<li>Deckers Outdoor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) reported better-than-expected results for the first quarter. The company said it still expects net sales to increase approximately 10% year-over-year in fiscal year 2025 to $4.7 billion. Deckers Outdoor shares jumped 10.2% to $927.00 in the after-hours trading session.</li>
<li>Analysts are expecting 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) to post quarterly earnings at $1.68 per share on revenue of $5.88 billion. The company will release earnings before the markets open. 3M shares rose 0.01% to $103.40 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Skechers U.S.A., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) <a href="https://www.benzinga.com/news/earnings/24/07/39972642/skechers-reports-q2-results-heres-the-details">posted downbeat earnings</a> and sales results for its second quarter. However, the company raised its FY 2024 sales guidance and reported a new $1 billion share repurchase program. Skechers shares gained 2% to $65.01 in the after-hours trading session.</li>
<li>Analysts expect Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) to post quarterly earnings at $7.98 per share on revenue of $13.59 billion before the opening bell. Charter Communications shares gained 0.8% to close at $315.23 on Thursday.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/07/39965370/wall-streets-most-accurate-analysts-say-hold-these-3-utilities-stocks-with-over-5-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Say Hold These 3 Utilities Stocks With Over 5% Dividend Yields</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

Markets

Trading Ideas

CHTR

DECK

Bristol-Myers Squibb, Deckers Outdoor And 3 Stocks To Watch Heading Into Friday

Elon Musk&#8216;s rocket manufacturing company SpaceX is gearing up to resume launch operations after a two-week-long pause. 
What Happened: SpaceX launched Falcon 9 with 20 Starlink satellites from California on July 11. However, the Starlink satellites were deployed in a <a href="https://www.benzinga.com/news/24/07/39766325/starlink-satellites-from-thursdays-launch-will-fully-demise-in-earths-atmosphere-says-elon-musks-spa">lower-than-intended orbit </a>owing to an issue with the rocket's second-stage engine. The company&#8217;s launch operations have been on hold since. 
The company subsequently conducted an investigation with oversight from the Federal Aviation Administration (FAA) and has identified the most probable cause of the mishap, it said on Thursday. Necessary design changes have also been deployed to prevent a recurrence of the issue.
&#8220;Safety and reliability are at the core of SpaceX's operations. It would not have been possible to achieve our current cadence without this focus, and thanks to the pace we've been able to launch, we're able to gather unprecedented levels of flight data and are poised to rapidly return to flight, safely and with increased reliability,&#8221;&nbsp;SpaceX said.
The company is now looking to resume launch activities, starting as soon as Saturday, July 27. 
As for the Starlink satellites that were deployed in a lower-than-intended orbit on the last launch, they <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948582/cat-in-a-dogs-world-outsmarts-dogecoin-shiba-inu-emerges-as-top-coin-for-the-week-whats-go">re-entered Earth&#8217;s atmosphere</a> and were fully demised upon reentry, SpaceX said. No debris has been reported to date, it added. 
Why It Matters:&nbsp;SpaceX&nbsp;<a href="https://www.benzinga.com/news/24/07/39612042/elon-musks-spacex-launches-67-missions-in-first-half-of-2024-trailing-own-targets" target="_blank" rel="noreferrer noopener">completed 67 missions</a>&nbsp;using its Falcon launch vehicles as of the end of the second quarter, with Falcon 9 alone accounting for 66 launches.&nbsp;&nbsp;The company is looking to launch 144 times in 2024, averaging twelve times per month.
The two-week-long pause poses a major threat to SpaceX&#8217;s launch targets, with the company having launched only three missions in July thus far.
On its upcoming flight planned for July 27, the company is looking to launch 23 Starlink satellites to low-Earth orbit aboard a Falcon 9 launch vehicle from Florida. 
Starlink is the satellite internet segment of Musk's SpaceX. It achieved a&nbsp;<a href="https://www.benzinga.com/news/23/11/35583773/spacex-ceo-elon-musk-says-starlink-business-has-achieved-breakeven-cash-flow-is-an-ipo-on-the-cards" target="_blank" rel="noreferrer noopener">breakeven cash flow</a>&nbsp;in November.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39950408/elon-musk-agrees-with-former-executive-who-thinks-everyone-has-strong-opinions-on-tesla-unlike-in-th" target="_blank" rel="noreferrer noopener">Elon Musk Agrees With Former Executive Who Thinks ‘Everyone&#8217; Has ‘Strong&#8217; Opinions On Tesla Unlike In The Case Of Eli Lilly And LVMH</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

Tech

Elon Musk's SpaceX To Resume Launch Operations Two Weeks After Mishap Involving 20 Starlink Satellites

Buenaventura Mining Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) reported quarterly earnings of $0.28 per share which missed the analyst consensus estimate of $0.29 by 3.45 percent. This is a 1033.33 percent increase over losses of $(0.03) per share from the same period last year. The company reported quarterly sales of $277.10 million which beat the analyst consensus estimate of $257.17 million by 7.75 percent. This is a 59.90 percent increase over sales of $173.30 million the same period last year.

Buenaventura Mining Co Q2 EPS $0.28 Misses $0.29 Estimate, Sales $277.10M Beat $257.17M Estimate

3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) will release its financial results for the second quarter, before the <a href="https://www.benzinga.com/quote/MMM/earnings">opening bell on Friday, July 26.</a>
Analysts expect the Saint Paul, Minnesota-based company to report quarterly earnings at $1.68 per share, down from $2.17 per share in the year-ago period. 3M is expected to post revenue of $5.88 billion, compared to $7.87 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On July 16, 3M completed a strategic investment in Ohmium International, a developer of electrolyzer systems for green hydrogen production.
3M shares rose 0.1% to close at $103.39 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/MMM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Barclays analyst Julian Mitchell maintained an Overweight rating and raised the price target from $118 to $120 on July 10. This analyst has an accuracy rate of 77%.</li>
<li>Wells Fargo analyst Joe O'Dea maintained an Equal-Weight rating and increased the price target from $100 to $110 on July 10. This analyst has an accuracy rate of 81%.</li>
<li>B of A Securities analyst Andrew Obin upgraded the stock from Neutral to Buy and boosted the price target from $105 to $120 on June 7. This analyst has an accuracy rate of 71%.</li>
<li>Vertical Research analyst Jeffrey Sprague upgraded the stock from Hold to Buy and raised the price target from $92 to $140 on May 16. This analyst has an accuracy rate of 79%.</li>
<li>Citigroup analyst Andrew Kaplowitz maintained a Neutral rating and increased the price target from $98 to $100 on May 1. This analyst has an accuracy rate of 86%.</li>
</ul>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/07/39965370/wall-streets-most-accurate-analysts-say-hold-these-3-utilities-stocks-with-over-5-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Say Hold These 3 Utilities Stocks With Over 5% Dividend Yields</a></li>
</ul>

Price Target

Analyst Ratings

3M Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Epic Games has announced that its flagship game, Fortnite, will soon be available for download on Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhones and iPads <a href="https://www.benzinga.com/news/24/07/39654022/apple-approves-epic-games-marketplace-app-in-europe-amid-ongoing-feud">in the EU</a>. However, the company has also decided to pull out its game from Samsung Electronics&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) Galaxy Store.
What Happened: On Thursday, the Fortnite maker announced this latest development adding that the company plans to expand the availability of its mobile games, including Fortnite, to other app stores.
&#8220;We will be ending distribution partnerships with mobile stores that serve as rent collectors without competing robustly and serving all developers fairly, even if those stores offer us a special deal for our own games,&#8221; Epic said in a press release.
Epic also announced that its mobile games will be accessible on AltStore, a third-party store that permits side-loading, on iOS in the EU. The company also intends to extend support to at least two other third-party stores.
See Also: <a href="https://www.benzinga.com/news/24/07/39879895/if-youre-a-lawyer-for-crowdstrike-youre-probably-not-going-to-enjoy-the-rest-of-your-summer-say-dan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8221;If You&#8217;re A Lawyer For Crowdstrike, You&#8217;re Probably Not Going To Enjoy The Rest Of Your Summer&#8217;</a>
Meanwhile, the company&#8217;s move to exit the Samsung Galaxy Store comes as a protest against the smartphone maker&#8217;s decision to prevent side-loading by default on Android devices.
&#8220;In sad news, we are today announcing that Fortnite and our other games will be leaving the Samsung Galaxy Store in protest of Samsung&#8217;s anticompetitive decision to&nbsp;block side-loading&nbsp;by default on Samsung Android devices,&#8221; Epic stated.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The latest development comes amid the company&#8217;s ongoing legal battle with Apple. The gaming company has been challenging the high commissions on in-app purchases and the restriction on users to download apps only <a href="https://www.benzinga.com/news/24/07/39646883/fortnite-maker-epic-games-accuses-apple-of-blocking-its-game-store-launch">through the App Store</a>.
Earlier in July,&nbsp;Apple had approved Epic Games&#8217;&nbsp;marketplace app&nbsp;for&nbsp;iPhones and iPads in Europe. This came after <a href="https://www.benzinga.com/general/gaming/24/03/37517484/apple-terminates-epic-games-developer-account-in-ongoing-feud-over-app-store-fees">Epic accused the company</a> of obstructing its efforts to launch a game store on Apple devices.
The Epic Games Store will be launched globally on Android and iOS in the EU. The timeline for this, however, remains unspecified. Last month, Epic announced that the company&#8217;s marketplace and Fortnite will be <a href="https://www.benzinga.com/general/gaming/24/06/39340107/epic-games-store-and-fortnite-coming-to-ios-in-japan-by-late-2025">accessible on iOS in Japan</a> by late 2025.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39926076/mark-zuckerberg-slams-tim-cooks-apple-after-cupertino-reportedly-rejected-its-iphone-ai-partnership?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Slams Tim Cook's Apple After Cupertino Reportedly Rejected Its iPhone AI Partnership Proposal: ‘They Wanted To Put Us In A Box…'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Gaming

AAPL

SSNLF

Fortnite Is Coming Back To Apple's iPhones, Including Alternative App Stores, But There's A Catch

Community Healthcare Trust increased its common stock cash dividend for the quarter ended&nbsp;June 30, 2024. This dividend, in the amount of&nbsp;$0.4625&nbsp;per share, is payable on&nbsp;August 23, 2024&nbsp;to shareholders of record on&nbsp;August 9, 2024. This dividend rate equates to an annualized dividend of&nbsp;$1.85&nbsp;per share. Community Healthcare Trust Incorporated has increased its dividend every quarter since its Initial Public Offering.

Dividends

CHCT

Reported Earlier, Community Healthcare Trust Increased Its Second Quarter Dividend To $0.4625 From $0.46 In Prior Quarter, Payable August 23, 2024

Peoples Financial Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFIS#NASDAQ">PFIS</a>) reported quarterly earnings of $0.59 per share which beat the analyst consensus estimate of $0.52 by 13.46 percent. This is a 54.96 percent decrease over earnings of $1.31 per share from the same period last year. The company reported quarterly sales of $22.46 million which missed the analyst consensus estimate of $23.50 million by 4.44 percent. This is a 12.44 percent decrease over sales of $25.65 million the same period last year.

PFIS

Reported Thursday, Peoples Financial Servs Q2 Adj. EPS $0.59 Beats $0.52 Estimate, Sales $22.46M Miss $23.50M Estimate

CREV

Reported Earlier, Carbon Revolution Teams Up With GM Providing Carbon Fiber Wheels For Chevrolet Corvette ZR1

Jersey City mayor Steven Fulop announced allocating a portion of the city's pension fund to <a href="https://www.benzinga.com/topic/bitcoin-etf">Bitcoin spot exchange-traded funds</a> (ETF,) becoming just the second pension fund after Wisconsin to get exposure to the price moves of the apex cryptocurrency.
What Happened: The mayor informed Thursday that the pension fund is updating paperwork with the Securities and Exchange Commission (SEC) to invest in the investment vehicles that have been trading on US stock markets since early January. 
Fulop, however, didn't mention which ETF the funds will be allocated to, or the exact allocation percentage. He said that the allocation would be in line with the 2% allocation done by the Wisconsin Pension Fund in May.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Notable: the Mayor of Jersey City here announcing the pension is making an allocation to Bitcoin ETFs.. this would be the second pension after Wisconsin to report ownership. <a href="https://t.co/4J8qbprmj4">https://t.co/4J8qbprmj4</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1816555277900218600?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In a clear endorsement of cryptocurrencies, Fulop remarked, "I've been a long time believer (through ups/downs) in crypto but Broadly, beyond crypto I do believe blockchain is amongst the most important new technology innovations since the internet."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39922885/peter-schiff-polls-hodlers-asks-if-theyll-sell-if-bitcoin-slips-below-15k-heres-how-they-r">Peter Schiff Polls HODLers, Asks If They&#8217;ll Sell If Bitcoin Slips Below $15K &#8211; Here&#8217;s How They Responded</a>
Why It Matters: The announcement by the Jersey City mayor comes two months after the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38821194/wisconsin-invests-nearly-100m-in-blackrocks-spot-bitcoin-etf">State of Wisconsin Investment Board's $160 million investment </a>in Bitcoin ETFs.&nbsp;
The board bought shares worth $99 million in BlackRock's iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) and approximately $64 million in Grayscale's Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>).
Notably, since the purchase, IBIT shares have plunged more than 6%, while GBTC has popped 4.7%.
The ETFs were approved this January, allowing equity investors to gain exposure to the price movements of bitcoin. Since launch, the 11 ETFs have raked in more than $17.54 billion in net inflows, <a href="https://sosovalue.xyz/assets/etf/us-btc-spot">according </a>to SoSo Value.
Price Action: At the time of writing, Bitcoin was trading at $66,945.99, up 4.15% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/07/39976208/bitcoin-etfs-in-japan-franklin-templeton-partners-with-sbi-holdings-to-launch-digital-asset-manageme">Bitcoin ETFs In Japan: Franklin Templeton Partners With SBI Holdings To Launch Digital Asset Management Company</a></li>
</ul>
Photo courtesy: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

GBTC

IBIT

Jersey City Pension Fund To Follow Wisconsin's Lead With Bitcoin ETF Investment: 'I've Been A Long Time Believer In Crypto,' Says Mayor Fulop

Immix Biopharma, Inc. (&quot;ImmixBio&quot;, &quot;Company&quot;, &quot;We&quot; or &quot;Us&quot;, &quot;IMMX&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMX#NASDAQ">IMMX</a>), a clinical-stage biopharmaceutical company trailblazing cell therapies in AL Amyloidosis and autoimmune disease, today announced that the California Institute for Regenerative Medicine (CIRM) has awarded Immix Biopharma cell therapy division Nexcella an&nbsp;$8 million&nbsp;CLIN2 grant award to support clinical development of chimeric antigen receptor T-cell (CAR-T) therapy NXC-201 for the treatment of relapsed/refractory AL Amyloidosis.

IMMX

Reported Earlier, Immix Biopharma Secures $8M Funding From California Institute For Regenerative Medicine For CAR-T NXC-201 Trial In AL Amyloidosis

A former janitor at Frito-Lay has filed a lawsuit against the company, saying that he was the mastermind behind the creation of the iconic Flamin&#8217; Hot Cheetos. The ex-employee, Richard Montañez, claims that his career suffered a significant setback after the company discredited his role in the snack&#8217;s inception.
What Happened: Montañez, who rose to the position of VP of sales at Frito-Lay, has taken legal action against the company and its parent, PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>), for allegedly distorting the history of Flamin&#8217; Hot Cheetos, <a href="https://www.washingtonpost.com/nation/2024/07/25/flamin-hot-cheetos-janitor-lawsuit/">reported</a> The Washington Post.
The lawsuit, filed in the San Bernardino Superior Court, accuses the companies of providing false information to the Los Angeles Times, which published an article undermining Montañez&#8217;s claim to the snack&#8217;s creation.
Montañez contends that this article led to a decline in his career as a public speaker and consultant, roles he took up after retiring from his 43-year tenure at Frito-Lay and PepsiCo in 2019. He alleges that the companies&#8217; &#8220;open racism and blatant lies&#8221; have severely impacted his professional opportunities.
"I created Flamin' Hot Cheetos not only as a product but as a movement and as a loyal executive for PepsiCo," Montañez said.&nbsp;
PepsiCo and Frito-Lay did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/news/24/07/39931967/nvidia-mcdonalds-and-2-other-stocks-insiders-are-selling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia, McDonald&#8217;s And 2 Other Stocks Insiders Are Selling</a>
Why It Matters: The Flamin&#8217; Hot Cheetos controversy has been a topic of debate for several years. Montañez, who claims to have invented the snack in the 1980s, has been celebrated for his rags-to-riches story, which was even adapted into a biopic. 
However, in 2018, a former Frito-Lay employee disputed Montañez&#8217;s account, sparking an internal investigation by the company. This investigation, as reported by the Los Angeles Times in 2021, found no evidence of Montañez&#8217;s involvement in the product&#8217;s development.
Despite the controversy, Flamin&#8217; Hot Cheetos have remained a billion-dollar brand for Frito-Lay and PepsiCo, inspiring a range of chile-flavored snacks and even influencing pop culture. 
The lawsuit comes at a time when PepsiCo is facing multiple challenges. Recently, the company reported weaker-than-expected revenue for the <a href="https://www.benzinga.com/news/earnings/24/07/39754325/these-analysts-slash-their-forecasts-on-pepsico-after-weak-revenue">second quarter of FY24</a>, with sales growth of just 0.8% year-on-year, missing analyst estimates. Despite this, the company managed to beat earnings expectations, with an adjusted EPS of $2.28.
Additionally, PepsiCo has been making strides in sustainability. The company recently partnered with Yara International ASA to <a href="https://www.benzinga.com/news/24/07/39795521/pepsico-teams-up-with-yara-to-reduce-crop-emissions-in-europe">reduce crop emissions</a> across Europe, aiming to decarbonize its food value chain.
Moreover, the company has faced setbacks in its North American market, particularly with its Quaker Foods North America division, which <a href="https://www.benzinga.com/news/earnings/24/07/39734040/pepsico-q2-earnings-beat-soft-qfna-results-hurt-stock">experienced product recalls</a>. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39898236/jeff-bezos-era-downstream-impact-losing-its-mojo-amazon-ceo-andy-jassy-is-reportedly-rethinking-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos-Era &#8216;Downstream Impact&#8217; Losing Its Mojo? Amazon CEO Andy Jassy Is Reportedly Rethinking Alexa Devices Business Model Resulting In Billions Worth Of Losses</a></li>
</ul>
Photo courtesy: Frito-Lay
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Legal

Former Frito-Lay Janitor Says He Invented Flamin' Hot Cheetos, Sues Company For Defamation: Alleges 'Open Racism And Blatant Lies' Have Set Back His Career

If the Company is unable to regain compliance by January 15, 2025, the Company may, under certain circumstances, be eligible for an additional 180 calendar day period to demonstrate compliance with the minimum bid price requirement. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180 calendar day period, then Nasdaq will notify the Company of its determination to delist the ordinary shares, at which point the Company would have an opportunity to appeal the delisting determination to a Hearings Panel.

THCH

Reported Earlier, Tim Hortons China Exclusive Operator TH International Faces Nasdaq Delisting Threat Over Minimum Bid Price

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Tokyo Core Consumer Price Index (YoY) For July 2.2% Vs. 2.2% Est.; 2.1% Prior

Tesla and SpaceX CEO Elon Musk and renowned author Stephen King have once again <a href="https://www.benzinga.com/news/23/11/35583364/stephen-king-thinks-twitter-rebranded-as-x-is-sh-but-elon-musks-tongue-in-cheek-reply-in-favor-of-it">engaged in a witty banter</a> on social media. This time it was a joke-off, where they both took turns telling jokes.
What Happened: On Thursday, the King of Horror, as the author is sometimes called, initiated the banter, jesting about an Italian chef&#8217;s demise and questioning Musk&#8217;s ability to match his humor.
&#8220;The Italian chef died. You could say he pasta-way. Can Elon tell jokes like that? I&#8217;m thinking no,&#8221; he posted on X, formerly Twitter.
In response, Musk posted a couple of jokes of his own. &#8220;What do you call a Great Dane eating a small piece of ham in a little village? Hamlet eating hamlet in a hamlet,&#8221; he posted.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What do you call a Great Dane eating a small piece of ham in a little village? Hamlet eating hamlet in a hamlet.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1816568052596580476?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/07/39902838/broadcom-to-challenge-nvidia-dominance-analyst-says-jensen-huang-led-chip-giants-competitor-is-catch?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Broadcom To Challenge Nvidia Dominance? Analyst Says Jensen Huang-Led Chip Giant&#8217;s Competitor Is &#8216;Catching Up&#8217;</a>
The tech mogul shared another joke, &#8220;My roommate says I'm a delusional schizophrenic. Jokes on him, I don't have a roommate!&#8221;
This humorous exchange came a day after King ribbed Musk about his acquisition of the social media platform. &#8220;Twitter-Twitter-Twitter. Sorry, Elon. You bought it. You&#8217;re stuck with it.&#8221;
At the time, Musk responded, &#8220;It hurts our feelings when you deadname.&#8221; The tech billionaire acquired Twitter for $44 billion in October 2022 and soon after rebranded the <a href="https://www.benzinga.com/markets/equities/23/09/34840454/formerly-twitter-fiasco-musks-x-faces-identity-crisis-on-apples-app-store">social media platform as X</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It hurts our feelings when you deadname &#x1f622;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1816211874012098692?ref_src=twsrc%5Etfw">July 24, 2024</a></blockquote>
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Why It Matters: This is not the first time Musk and King have engaged in social media exchanges. Last year, the two had a <a href="https://www.benzinga.com/news/23/07/33144100/elon-musk-and-stephen-king-engage-in-witty-twitter-exchange-over-mark-zuckerberg-rivalry">witty exchange</a> over the rivalry between Musk and Mark Zuckerberg. 
Earlier this month, Musk also reacted to <a href="https://www.benzinga.com/news/24/07/39667176/elon-musk-reacts-after-king-of-horror-says-its-time-for-biden-to-announce-he-will-not-run-for-re-ele">King&#8217;s post suggesting</a> that President Joe Biden should not run for re-election.
Musk <a href="https://www.benzinga.com/news/23/04/31929220/verified-denied-elon-musk-handpicks-twitter-blue-check-recipients-leaves-trump-bill-gates-and-others">personally covers the cost</a> of the X Blue subscription, which includes a blue checkmark for King, despite the latter's prior strong opposition to paying for it.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39926076/mark-zuckerberg-slams-tim-cooks-apple-after-cupertino-reportedly-rejected-its-iphone-ai-partnership?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Slams Tim Cook&#8217;s Apple After Cupertino Reportedly Rejected Its iPhone AI Partnership Proposal: &#8216;They Wanted To Put Us In A Box…&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

TSLA

Elon Musk And Stephen King Entangle Again On X: This Time Horror King Challenges Techno King To A Joke-Off

In a massive endorsement for the world&#8217;s largest cryptocurrency, presidential candidate Robert F. Kennedy Jr. said he&#8217;d make the U.S. government buy Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) equivalent to the country&#8217;s gold reserves.
What Happened: Kennedy, who is running as an independent, expressed during an interview, his intent to persuade the federal government to amass Bitcoin until its holdings equaled the nation&#8217;s gold reserves.
It&#8217;s worth noting that the U.S. has the largest gold reserves of any country in the world, worth nearly $579 billion, <a href="https://www.gold.org/goldhub/data/gold-reserves-by-country">according </a>to the World Gold Council. This is equivalent to 43% of Bitcoin&#8217;s current global market cap.
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<iframe loading="lazy" title="The Real Bitcoin Candidate: Kennedy's Vision For The Future Of Bitcoin" width="500" height="281" src="https://www.youtube.com/embed/sDQ30-3REW4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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It&#8217;s worth noting that 
In the interview moderated by YouTuber Scott Melker, Kennedy described Bitcoin as an &#8216;honest currency,&#8217; praising its decentralized nature for embodying democratic principles. He also dubbed that currency an &#8220;offramp to the inflationary highway.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39923307/senator-cynthia-lummis-slams-biden-administrations-dangerous-scheme-to-impose-30-tax-on-bi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Senator Cynthia Lummis Slams Biden Administration&#8217;s &#8216;Dangerous Scheme&#8217; To Impose 30% Tax On Bitcoin Mining, Call It &#8216;Blatant Attack&#8217; On American Excellence</a>
Why It Matters: These remarks come amid <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39914148/donald-trump-to-announce-a-strategic-bitcoin-reserve-crypto-bettors-think-its-unlikely-but">considerable speculations</a> that Republican presidential nominee Donald Trump will announce Bitcoin as a strategic reserve asset during the ongoing Bitcoin Conference 2024. Interestingly, Kennedy is also slated to speak at the marquee event.
Kennedy's pro-cryptocurrency stance is not new. Earlier in March, he blamed big banks for turning Congress members against Bitcoin and emphasized the need for transactional freedom.
Kennedy has also <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39103888/robert-kennedy-jr-applauds-trumps-crypto-commitment-expresses-hope-for-bidens-alignment">praised Trump&#8217;s pivot to a pro-cryptocurrency stance</a> during the Consensus 2024 conference in May.
Price Action: At the time of writing, Bitcoin was exchanging hands at $67,150.49, jumping 4.5% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Memecoin themed on RFK, Kennedy Coin (CRYPTO: BOBBY) plunged 4.65% in the last 24 hours.
Photo by Ringo Chiu on Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39968581/could-a-bitcoin-treasury-fix-the-us-national-debt-one-trader-details-how-bitcoin-fixes-thi">Could A Bitcoin Treasury Fix The US National Debt? One Trader Details How &#8216;Bitcoin Fixes This&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

$BTC

Robert Kennedy Jr. Proposes Bitcoin Purchase To Match US Gold Reserves: 'An Offramp To The Inflationary Highway'

Japan&#8217;s SBI Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBHGF#OTC">SBHGF</a>) has teamed up with U.S. investment firm Franklin Resources Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>) subsidiary Franklin Templeton to establish a digital asset management company. This venture aims to prepare for the potential approval of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and cryptocurrency exchange-traded funds in Japan.
What Happened: The new company, in which SBI will hold a 51% stake and Franklin Templeton the remaining 49%, is set to launch as early as this year. With approximately $1.6 trillion in assets under management, Franklin Templeton is the world&#8217;s seventh-largest asset manager, <a href="https://asia.nikkei.com/Spotlight/Cryptocurrencies/Franklin-Templeton-and-SBI-team-up-to-bring-bitcoin-ETFs-to-Japan">reported</a> Nikkei on Friday.
While Franklin Templeton has traditionally focused on asset classes such as stocks and bonds, it has recently expanded into digital assets. 
The firm was among the first to venture into spot Bitcoin ETFs after they were approved by the U.S. Securities and Exchange Commission in January. The cumulative inflows into these ETFs have surpassed $16 billion in just over six months.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39923307/senator-cynthia-lummis-slams-biden-administrations-dangerous-scheme-to-impose-30-tax-on-bi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Senator Cynthia Lummis Slams Biden Administration&#8217;s &#8216;Dangerous Scheme&#8217; To Impose 30% Tax On Bitcoin Mining, Call It &#8216;Blatant Attack&#8217; On American Excellence</a>
Japan is yet to approve Bitcoin ETFs, but the new company is poised to launch crypto ETF products as soon as the Financial Services Agency gives the green light. The joint venture is also expected to offer digital asset securities, an area where Franklin Templeton has already made significant headway.
Why It Matters: The collaboration between SBI Holdings and Franklin Templeton comes at a time when the cryptocurrency market is experiencing significant developments globally. 
In January, the SEC approved a Bitcoin ETF, marking a pivotal moment in the history of cryptocurrencies. This decision has been seen as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36792534/exclusive-secs-green-light-to-bitcoin-etf-is-2024-a-new-era-for-cryptocurrencies">major step towards mainstream acceptance</a> and could potentially unlock a new wave of institutional investment in the crypto sector.
In June, Australia saw the listing of its first-ever Bitcoin spot ETF on <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39404023/first-ever-bitcoin-spot-etf-start-trading-on-australias-main-stock-market-investors-get-ex">its main stock market</a>, further boosting the cryptocurrency sector. The VanEck Bitcoin ETF, with a seed investment of nearly $657,000, made its debut on the Australian Securities Exchange.
Additionally, in July, Hong Kong launched Asia&#8217;s first <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39883795/hong-kong-launches-asias-first-bitcoin-futures-inverse-product">Bitcoin futures inverse product</a>, marking a new milestone in the evolution of crypto-based financial instruments in the region. 
With the approval of Bitcoin ETFs, investors can now include this digital asset in their portfolios through traditional brokerage accounts, similar to how they invest in stocks or bonds. For <a href="https://benzinga.com/money/best-spot-bitcoin-etfs">those looking to diversify</a>, options include Fidelity Wise Origin Bitcoin Fund Common Shares of Beneficial Interest (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>), ProShares Bitcoin Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITO#NYSE">BITO</a>), Valkyrie Bitcoin and Ether Strategy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTF#NASDAQ">BTF</a>), VanEck Bitcoin Trust Common Shares of Beneficial Interest (BATS:<a class="ticker" href="https://www.benzinga.com/stock/HODL#BATS">HODL</a>), ARK 21Shares Bitcoin ETF Common Shares of Beneficial Interests (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>), Franklin Templeton Digital Holdings Trust Shares of Franklin Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/EZBC#BATS">EZBC</a>), and iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>).
Price Action: Bitcoin traded at $67,027.60 today, up 1.87%. Year to date, Bitcoin has increased by $22,855.60, or 51.74%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39947663/peter-schiff-says-americans-are-broke-points-to-fords-dismal-q2-profit-they-cant-afford-to-buy-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Americans Are Broke&#8217; — Points To Ford&#8217;s Dismal Q2 Profit: &#8216;They Can&#8217;t Afford To Buy New Cars&#8217; Due To Interest Rates</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Asia

Global

ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

ARKB

BITO

Franklin Bitcoin ETF Franklin Bitcoin ETF

EZBC

Fidelity Wise Origin Bitcoin Fund Fidelity Wise Origin Bitcoin Fund

FBTC

HODL

SBHGF

Bitcoin ETFs In Japan: Franklin Templeton Partners With SBI Holdings To Launch Digital Asset Management Company

Visa Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) has successfully leveraged artificial intelligence and machine learning to prevent $40 billion in fraudulent activities, according to a company executive.
What Happened: James Mirfin, global head of risk and identity solutions at Visa, <a href="https://www.cnbc.com/2024/07/26/ai-and-machine-learning-helped-visa-combat-40-billion-in-fraud-activity.html">informed</a> CNBC that the company has utilized AI and machine learning to combat fraudulent activities, which have nearly doubled from the previous year.
Visa has managed to prevent $40 billion in fraudulent activities from October 2022 to September 2023, which is almost twice the amount from the previous year, Mirfin said.
He explained that fraudsters use AI to generate primary account numbers (PAN) and repeatedly test them. This method, known as an enumeration attack, results in $1.1 billion in fraud losses annually.
&#8220;We look at over 500 different attributes around [each] transaction, we score that and we create a score –that&#8217;s an AI model that will actually do that. We do about 300 billion transactions a year,&#8221; Mirfin told CNBC.
Visa assigns a real-time risk score to each transaction to detect and prevent enumeration attacks in transactions processed remotely without a physical card via a card reader or terminal.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39947663/peter-schiff-says-americans-are-broke-points-to-fords-dismal-q2-profit-they-cant-afford-to-buy-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Americans Are Broke&#8217; — Points To Ford&#8217;s Dismal Q2 Profit: &#8216;They Can&#8217;t Afford To Buy New Cars&#8217; Due To Interest Rates</a>
&#8220;Every single one of those [transactions] has been processed by AI. It&#8217;s looking at a range of different attributes and we&#8217;re evaluating every single transaction,&#8221; Mirfin said.
Visa also uses AI to assess the likelihood of fraud for token provisioning requests and has invested $10 billion in technology to reduce fraud and increase network security over the last five years.
Why It Matters: The significance of Visa&#8217;s achievement in preventing $40 billion in fraudulent transactions is underscored by the alarming rise in cybercrime. According to Charles Lobo, Visa&#8217;s Regional Risk Officer for Central and Eastern Europe, Middle East, and Africa, cybercrime could rival the world&#8217;s top economies by 2025, with projected costs <a href="https://www.benzinga.com/markets/equities/24/07/39913436/visa-warns-cybercrime-could-rival-worlds-top-economies-by-2025-reportedly-defends-against-40b-in">reaching $10.5 trillion annually</a>.
Additionally, the use of AI-generated fake IDs to bypass Know Your Customer (KYC) checks on cryptocurrency exchanges has become <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/36950776/ai-generated-fake-ids-bypass-crypto-exchange-kyc-checks-okx-says-industry-wide-issue">a widespread issue</a>. OnlyFake, an online service, has been creating counterfeit IDs that successfully pass KYC checks, raising significant security concerns.
Moreover, the use of deepfake technology in scams is on the rise. In one instance, fraudsters used deepfake technology to impersonate a company&#8217;s CFO during a video call, resulting in a $25 million loss, as reported by <a href="https://www.benzinga.com/news/24/02/36930090/fraudsters-use-deepfake-tech-to-steal-25-million-in-sophisticated-corporate-scam">Hong Kong police</a>.
Furthermore, the Hong Kong Securities and Futures Commission recently warned about a <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38895127/elon-musk-deepfake-scam-used-to-promote-fraudulent-crypto-trading-platform-hong-kongs-fina">fraudulent cryptocurrency trading platform</a> called &#8220;Quantum AI,&#8221; which used deepfakes of Elon Musk to lure victims, highlighting the growing use of AI in committing fraud, particularly in Asia.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39922826/elon-musk-agrees-with-dogedesigner-funding-for-trump-supporting-super-pac-is-far-below-45m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees with DogeDesigner: Funding For Trump-Supporting Super PAC Is &#8216;Far Below&#8217; $45M A Month So Far</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Visa Leverages AI To Prevent $40B In Fraud: How Machine Learning Is Combatting The Surge In Cybercrime And AI-Driven Scams

Chris Lehane, a leading Democratic strategist and former member of the Bill Clinton White House, is set to join the board of directors at leading cryptocurrency exchange Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).
What Happened: Coinbase, which is the largest digital asset trading platform in the U.S., announced Thursday that Lehane, who is recognized for his significant role in technology and politics, will be joining the board.
For the curious, Lahane was a a former policy chief for Airbnb Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) and went on to join ChatGPT-maker OpenAI as a senior executive. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today we announce that Chris Lehane, Paul Clement, and Christa Davies are joining Coinbase's Board of Directors. They each have different political philosophies and career paths but all have arrived at the same conclusion: crypto is a powerful tool to update the system. <a href="https://t.co/bQyEtO6thl">pic.twitter.com/bQyEtO6thl</a>
&mdash; Coinbase &#x1f6e1;&#xFE0F; (@coinbase) <a href="https://twitter.com/coinbase/status/1816570153792049643?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
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His association with the cryptocurrency space is not new <a href="https://www.benzinga.com/markets/cryptocurrency/23/05/32371165/coinbase-fills-new-advisory-council-with-former-us-lawmakers">as he was also part of Coinbase's Global Advisory Council</a>, floated to help the company &#8220;navigate the complex and evolving landscape of the industry.&#8221;
Along with Nahane, Paul Clement, former U.S. solicitor general, and Christa Davies, chief financial officer for Aon PLC. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) also joined the board. Coinbase stated, &#8220;They each have different political philosophies and career paths but all have arrived at the same conclusion: cryptocurrency is a powerful tool to update the system.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39968581/could-a-bitcoin-treasury-fix-the-us-national-debt-one-trader-details-how-bitcoin-fixes-thi">Could A Bitcoin Treasury Fix The US National Debt? One Trader Details How &#8216;Bitcoin Fixes This&#8217;</a>
Why It Matters: Lehane&#8217;s appointment comes at a time when the political landscape in the U.S. has been shifting in favor of cryptocurrencies. Investment bank Citi upgraded <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39923754/bidens-exit-spurs-bullish-outlook-citi-upgrades-coinbase-amid-favorable-crypto-regulatory-">shares of Coinbase from neutral to buy</a>, anticipating an improved regulatory landscape for cryptocurrency assets. 
Experts believe the Democratic Party <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39875949/democrats-have-huge-opportunity-to-win-back-chunk-of-crypto-vote-after-bidens-exit-from-20">has a significant opportunity to win back a large portion of the cryptocurrency vote</a> in the upcoming elections with the withdrawal of President Joe Biden from the presidential race. 
Anthony Scaramucci, a former Donald Trump aide, voiced his support for presumptive Democratic presidential nominee Kamala Harris, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948413/trump-era-white-house-official-anthony-scaramucci-says-kamala-harris-is-capable-and-has-a-">expressing anticipation for her future policies on cryptocurrency</a>.
Price Action: Shares of Coinbase are up 1.81% in after-hours trading, after closing 5.53% lower during Thursday&#8217;s regular trading session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo by rafapress on Shutterstock
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</ul>

Politics

General

ABNB

COIN

Clinton White House Staffer And OpenAI Executive Chris Lehane Joins Coinbase Board

CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) CEO George Kurtz has confirmed that more than 97% of the company&#8217;s Windows sensors are back online following a global outage.
What Happened: The outage was caused by a faulty software update from the cybersecurity firm, which led to a global system crash on Microsoft Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows operating system. The incident occurred last week, affecting over 8.5 million Windows devices.
Kurtz, however, has announced that the recovery process has been significantly improved, thanks to the development of automatic recovery techniques and the mobilization of all resources to support affected customers.
&#8220;Our recovery efforts have been enhanced thanks to the development of automatic recovery techniques and by mobilizing all our resources to support our customers,&#8221; Kurtz said in a&nbsp;<a href="https://www.linkedin.com/posts/georgekurtz_falcon-content-update-remediation-and-guidance-activity-7222323091652108289-19Xv?utm_source=share&amp;utm_medium=member_desktop" target="_blank" rel="noreferrer noopener">post</a> on LinkedIn.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39972036/nasdaq-100-falls-to-7-week-lows-marks-worst-2-day-drop-in-nearly-2-years-as-tech-rout-rages-on">Nasdaq 100 Falls To 7-Week Lows, Marks Worst 2-Day Drop In Nearly 2 Years As Tech Rout Rages On</a>
Why It Matters: The outage, which began on Jul. 19, was attributed to a flawed security update from CrowdStrike&#8217;s Falcon platform. The issue originated from the Rapid Response Content, a dynamic protection mechanism, which inadvertently caused a system crash due to an <a href="https://www.benzinga.com/news/24/07/39930356/crowdstrike-blames-error-with-test-software-for-taking-down-8-5m-windows-computers-globally-says-a-n">undetected error in the update</a>. 
CrowdStrike has since reverted the defective update and emphasized that Mac and Linux hosts remained unaffected. 
In response to the disruption, CrowdStrike offered a $10 Uber Eats gift card to its <a href="https://www.benzinga.com/markets/equities/24/07/39948973/crowdstrike-offers-10-uber-eats-gift-card-as-apology-for-its-outage-that-took-down-8-5m-windows-">partners as an apology</a>. However, some users reported issues redeeming the vouchers, which were flagged as fraud due to high usage rates. 
Interestingly, less than two months ago, Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; had praised CrowdStrike, expressing confidence in the company&#8217;s stability. However, the recent events have shown the <a href="https://www.benzinga.com/startups/24/07/39963188/to-no-ones-surprise-jim-cramer-praised-crowdstrike-less-than-two-months-ago-i-dont-think-that-domino">unpredictability of the stock market</a>, even for seasoned experts. 
The faulty update not only disrupted everyday operations but also significantly impacted <a href="https://www.benzinga.com/trading-ideas/24/07/39903295/how-a-faulty-cybersecurity-update-from-crowdstrike-unleashed-chaos-on-global-infrastructure-while-m">critical infrastructure globally</a>, including major airlines, financial institutions, and emergency services. U.S. airlines experienced groundings and over 1,500 flight cancellations. Similar issues occurred in Germany and Spain. 
Price Action: CrowdStrike&#8217;s stock closed at $254.15 on Thursday, down 1.55% for the day. In after-hours trading, the stock increased 0.30%. Year to date, the stock has risen by 2.94%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39951461/markets-are-sounding-an-alarm-peter-schiff-warns-federal-reserve-should-cut-rates-b?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Markets Are Sounding An Alarm:&#8217; Peter Schiff Warns Federal Reserve Should Cut Rates Before Recession Hits</a></li>
</ul>
Image Via Shuttestock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

CRWD

MSFT

CrowdStrike CEO George Kurtz Announces Over 97% Of Windows Sensors Back Online After Global Outage

Corbus Pharma surges after early Phase 1 data for tumor candidate

Corbus Pharma reverses gains on common stock offering

Moderna rival CSPC cleared to study RSV shot in China

CHJTF

CRBP

CSPC Pharma Gr

<h4>Key Takeaways:</h4>

<ul>
	<li>CSPC Pharmaceutical beat market forecasts with double-digit growth in first-quarter revenues and profits, driven by rising sales of drugs to treat strokes and dementia&nbsp;</li>
	<li>The company has dozens of candidate drugs in the pipeline, under the direction of a reconfigured management team&nbsp;</li>
</ul>

By Ken Lo&nbsp;

It&nbsp;can already fill pharmacy shelves with a wide range of approved drugs for the treatment of strokes, cancer, respiratory infections, diabetes, ulcers and hypertension.&nbsp;&nbsp;

But&nbsp;China&rsquo;s&nbsp;CSPC Pharmaceutical Group Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/CSPCY#OTC">CSPCY</a>) is seeking to add even more medicines to its product list, including its own version of a weight-loss drug that has been racking up huge global sales.

In the pharmaceutical business, research to develop candidate drugs is never guaranteed to pay off, as products can fail to make it through three sets of clinical trials. Investors may get a better sense of a company&rsquo;s value by tracking sales of packaged drugs that have already made it onto the market.

In the case of CSPC Pharmaceutical,&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0527/2024052700135.pdf">earnings</a>&nbsp;figures released last week send positive signals.&nbsp;&nbsp;Revenues rose 11.5% in the first quarter to&nbsp;8.98 billion yuan ($1.24 billion) from the same period a year earlier, with sales of so-called finished drugs accounting for 84.2% of the income. Higher margins on the drugs business pushed net profits up 12.9% to 1.61 billion yuan.

The revenue and profit figures both exceeded market expectations. The company also reaffirmed its prediction of double-digit revenue growth&nbsp;for the whole year, expecting total sales of its&nbsp;10 types of&nbsp;marketed&nbsp;drugs&nbsp;to reach&nbsp;$3 billion.

<h3>Accelerating&nbsp;Growth&nbsp;</h3>

Aside from drugs, CSPC Pharmaceutical sells vitamins, antibiotic products and food supplements, categorized in its accounts as bulk and functional food items.

In the&nbsp;first&nbsp;quarter,&nbsp;the company&rsquo;s&nbsp;revenues&nbsp;from finished drugs surged&nbsp;17.7% year on year to 7.56 billion yuan. The figure marked a 20% rise from the prior quarter, reversing a weakening growth trend seen in recent years. On an annual basis, drugs revenue from 2021 to 2023 came in at 22.68 billion yuan, 24.52 billion yuan and 25.64 billion yuan, translating into decelerating growth rates of 11.2%, 8.1% and 4.6% for the three-year period.

In the first quarter, drug revenue rose in all&nbsp;therapeutic areas except for respiratory products, with a strong performance by some of the more recently launched medicines. Drugs targeting the nervous system, for conditions such as strokes or dementia, surged&nbsp;27.4%&nbsp;to become the biggest selling product line, contributing&nbsp;35.8% of the total.

One of the company&rsquo;s key drugs,&nbsp;butylphthalide, benefited from a price review last year by China&rsquo;s medical insurance system. An increased price for the drug, which is used to treat stroke patients, offers fresh scope for revenue growth going forward. In the past, price limits for many such&nbsp;flagship drugs had raised&nbsp;the opportunity costs of&nbsp;R&amp;D for pharmaceutical companies, weakening incentives to innovate.

The other two parts of the business,&nbsp;bulk&nbsp;products&nbsp;and&nbsp;functional food&nbsp;items, both logged lower sales than in the first quarter of last year, together&nbsp;accounting for less than 16% of total revenue. Falling demand for vitamin C and antibiotic products pushed revenues in the bulk business down 8% to 935 million yuan. A lower price for caffeine products&nbsp;drove a&nbsp;21% drop in&nbsp;sales for functional food and other businesses, which brought in revenues of&nbsp;486 million yuan.

<h3>Multiple Pipelines For New Drugs</h3>

The company is also investing in a host of drug pipelines across various technologies, diversifying the risk of any one avenue hitting a dead end. Its research areas include nano particles, AI-assisted drug design,&nbsp;long-acting injections, monoclonal antibodies, dual antibody therapies, antibody drug conjugates&nbsp;(ADC) and mRNA, siRNA and PROTAC technologies.&nbsp;

In the first quarter&nbsp;it spent&nbsp;1.17 billion yuan&nbsp;on R&amp;D, 16% more than the same period last year and&nbsp;equivalent to about&nbsp;15.5% of&nbsp;its drug revenue. More than 60 drugs&nbsp;under development&nbsp;have entered clinical trials or are at the registration stage.&nbsp;&nbsp;Marketing applications have been submitted for seven drugs and 20 have entered a pivotal stage of clinical trials, the company said in its earnings release.

The company is also vying with other Chinese pharmaceutical firms to tap the massive potential of the diet drug market, after the runaway success of slimming injections pioneered by global pharma giants.&nbsp;In March, Chinese medical authorities gave the green light for&nbsp;CSPC Pharmaceutical&nbsp;to begin clinical trials of a&nbsp;semaglutide&nbsp;injection based on the same active ingredient as the weight-loss treatment sold by&nbsp;Danish drugmaker&nbsp;Novo Nordisk&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>).

The company has made headway with drug approvals since the start of the year, according to a regulatory update in the earnings release. One of its existing drugs has been approved to treat further conditions, while 16&nbsp;clinical trial approvals have come through. Two generic drugs were approved for&nbsp;&nbsp;registration in China and two innovative drugs were cleared for clinical trials in North America.

Cheered by the quarterly numbers, analysts were broadly upbeat about the prospects for the full year. UBS&nbsp;raised its 2024 revenue growth forecast&nbsp;to 9.8%&nbsp;from an&nbsp;initial&nbsp;6.8%, saying drugs revenue would exceed expectations. The investment bank also increased its earnings per share&nbsp;(EPS)&nbsp;forecasts for the period 2024 to 2026 by 6%, 7%&nbsp;and 8%. UBS also restated&nbsp;its &ldquo;buy&rdquo; rating and raised its target price for the company&rsquo;s stock to HK$10.1.

A revised management line-up will be in charge of delivering on those expectations, as the company seeks to expand into new areas of medicine. CSPC Pharmaceutical&nbsp;recently announced the retirement of two executive directors, Wang Qingxi and&nbsp;Chak&nbsp;Kin Man. They are to be replaced by&nbsp;Yao Bing and Cai&nbsp;Xin, the son of chairman and major shareholder Cai&nbsp;Dongchen.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

<h4>Key Takeaways:</h4>

<ul>
	<li>BenQ Hospital has filed to list in Hong Kong, reporting its revenue rose 15% last year to 2.69 billion yuan&nbsp;</li>
	<li>China&rsquo;s largest private hospital operator will use its IPO funds to expand and upgrade its existing facilities</li>
</ul>

By Lau Chi Hang

Cancer treatment private hospital operator&nbsp;Concord Healthcare&nbsp;thought it had just the right medicine for investors when it listed in Hong Kong early this year, boasting an A-list of backers including CICC, CITIC and&nbsp;CSPC Pharmaceutical Group&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/CSPCY#OTC">CSPCY</a>). That optimism was shattered when its shares tumbled over 30% on their debut day. But investors quickly changed their minds and began bidding up the stock, which is now 60% above its listing price.

That ebb and flow reflects both the fears and high hopes for private hospital and clinic operators in a huge Chinese healthcare market where such facilities are still relatively rare, though regulatory oversight is also very strict.&nbsp;

With outlook for private hospital stocks now on the mend, Taiwan-invested&nbsp;BenQ BM Holding Cayman Corp.&nbsp;is looking to follow Concord Healthcare to the Hong Kong Stock Exchange with its&nbsp;<a href="https://www1.hkexnews.hk/app/sehk/2024/106348/documents/sehk24040302216.pdf">listing application</a>&nbsp;filed earlier this month. A successful IPO would make it the first comprehensive private hospital to list in Hong Kong.

<h3>Two Grade-A Hospitals</h3>

BenQ has two hospitals, Nanjing BenQ Hospital, a Grade-A Class 3 facility that opened in 2008; and Suzhou BenQ Hospital, a Class 3 general hospital that opened in 2013. The two facilities currently have 1,850 beds in a total operating area of about 380,000 square meters, with a team of more than 900 doctors. Last year they recorded more than 2 million outpatient visits and more than 20,000 inpatient operations.

BenQ&rsquo;s majority shareholder is Taiwan-listed&nbsp;Qisda, which was founded in 1984 and is a global leader in liquid crystal displays and projectors. Integrated medical services provider&nbsp;Sharehope Medicine&nbsp;also holds a small stake in the company.

BenQ&rsquo;s revenue has risen steadily over the last three years, from 2.22 billion yuan ($307 million) in 2021 to 2.69 billion yuan last year. Its profit has grown even quicker, rising from 69.1 million yuan to 167 million yuan over the same period.

Its relatively long tenure in a Chinese market dominated by state-owned hospitals has earned it a strong reputation in East China. According to third-party data in the listing document, it was the biggest private for-profit general hospital group in East China in 2022 by medical service revenue and was ranked fifth nationwide. It also ranked first in terms of average revenue per registered bed.

<h3>Growing Healthcare Market&nbsp;</h3>

The landscape for private hospitals in China is steadily improving in tandem with the healthcare market&rsquo;s steady expansion. Total healthcare expenditure in China is expected to reach 12 trillion yuan in 2026, growing 9.1% annually from 2022 to 2026, according to third-party data in the listing document. The market is expected to grow further still to 16.2 trillion yuan in 2030.

Private hospitals are still relatively small players but are growing faster than the overall market. Their revenue grew from 319.1 billion yuan in 2017 to 607.4 billion yuan in 2022, representing annual growth of 13.7%. The group&rsquo;s growth rate is expected to further accelerate to 15.9% between 2022 and 2026 and will reach an estimated value of 1.09 trillion yuan in 2026.

With the fast-growing Chinese healthcare market as its base, including its home in the Yangtze Delta area that includes Shanghai, BenQ has laid a solid foothold for its future in East China. But it lacks a major growth story beyond its two main hospitals to win over Hong Kong investors amid a general slump in the local stock market.

While cutting-edge drug stocks offer infinite room for investor imagination due to the big potential of China&rsquo;s vast market of 1.4 billion people, private healthcare institutions lack such magnitude due to their geographic constraints. Even the stronger&nbsp;Hygeia Healthcare&nbsp;(2453.HK) has a market value of just HK$17.9 billion ($2.28 billion) and a price-to-earnings (P/E) ratio of 23 times.

<h3>No Expansion Plans</h3>

BenQ&rsquo;s revenue comes mainly from inpatient and outpatient services. Average spending per visit for the former dropped from 19,142 yuan in 2021 to 17,042 yuan last year, while the latter was more stable, rising from 571 yuan in 2021 to 599 yuan in 2022, before falling to 584 yuan last year. With revenue per patient mostly flat or falling, the company&rsquo;s overall revenue growth last year came from increasing patient visits.&nbsp;

But the company already operates close to its existing capacity, meaning its business is unlikely to expand much further without building new hospitals. In has steadily added beds over the last three years, taking the total from 1,600 in 2021 to the latest 1,850, though that venue for growth is limited by a shrinking amount of space still available in its two hospitals. Average bed turnover days dropped from 9.4 days in 2021 to 8.2 days last year, as hospitals tried to see more patients by discharging them more quickly.

The company&rsquo;s gross margin isn&rsquo;t so attractive, although it increased from 15.3% in 2021 to 18.9% last year on efforts to operate more efficiently. It remains to be seen whether there&rsquo;s room for further improvement. But BenQ&rsquo;s figure now is well below the 25.8% gross margin for&nbsp;Kangning Hospital&nbsp;(2120.HK) and even further behind the 31.6% for Hygeia Healthcare.

BenQ said it would use funds from the IPO to expand its existing hospitals, or consider using some for investing in or acquiring other hospitals, as well as for upgrading existing &ldquo;smart hospitals&rdquo;. That appears to show the company is mostly focused on its existing facilities, without plans to build any new hospital.

Of course, we&rsquo;re well aware of the difficulties involved in building new hospitals, especially in the complex China market. In addition to securing funds, hiring medical professionals is also quite challenging. And operators need to comply with a wide range of rules and requirements in different parts of China. But BenQ&rsquo;s stock may fail to generate much investor excitement unless it can find a more visionary plan, especially in the current sluggish Hong Kong stock market.&nbsp;
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

<ul>
	<li>Chinese health authorities approved&nbsp;CSPC Pharmaceuticals Group Ltd&#39;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/CSPCY#OTC">CSPCY</a>) messenger RNA (mRNA) COVID-19 vaccine for emergency use authorization.</li>
	<li>CSPC&#39;s mRNA became China&#39;s first domestically developed mRNA shot as COVID cases decline across the country after a resurgence, Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/healthcare-pharmaceuticals/china-approves-its-first-mrna-vaccine-domestic-drugmaker-cspc-2023-03-22/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reports</a>.</li>
	<li>CSPS said its vaccine trials demonstrated incidents of adverse effects were substantially lower in an elderly group than an adult group.</li>
	<li>CSPS said its independently developed mRNA vaccine SYS6006 targets some major Omicron variants. Its booster dose exhibited a good neutralization effect against Omicron subvariants BA.5, BF.7, BQ.1.1., XBB.1.5, and CH.1.1. in clinical trials.</li>
	<li>CSPC has built a manufacturing practice-compliant production plant for the vaccine. CSPC also produces critical raw materials and excipients.</li>
	<li>The vaccine could be stored at 2-8 degrees Celsius for a long time.</li>
	<li>In a study of 4,000 participants from December 10 - January 18, when China was going through a surge in infections, the vaccine showed an efficacy of 85.3%, 14 to 28 days after&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/02/g30892247/clover-launches-covid-19-booster-vaccine-in-the-peoples-republic-of-china" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">booster vaccination</a>.</li>
	<li>CSPC also reported an 8.7% growth in 2022 net profit on Wednesday, backed by several newly launched generic drugs in China&#39;s national drug procurement program.</li>
	<li>China has declined to use global&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/03/31435256/moderna-wants-to-charge-about-130-per-covid-19-vaccine-dose" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">mRNA vaccines</a>, and China&#39;s vaccines were deemed less effective than the&nbsp;Moderna, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) and&nbsp;Pfizer, Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)-BioNTech SE&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29114210/moderna-says-no-to-chinas-request-to-handover-covid-19-vaccine-technology-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">mRNA shots</a>.</li>
	<li>Price Action:&nbsp;MRNA shares traded higher by 0.85% at $153.39 on the last check Wednesday.</li>
	<li>Image by Spencer Davis from Pixabay</li>
</ul>

China's First mRNA Vaccine: Drugmaker CSPC Wins China's Approval For COVID-19 Vaccine

During Friday&#39;s morning trading, 93 companies set new 52-week highs.

<h3>Intriguing Points:</h3>

<ul>
	<li>The largest company by market cap to set a new 52-week high was PBS Holding (OTC:<a class="ticker" href="/stock/PBHG#OTC">PBHG</a>)</li>
	<li>PaperFree Medical (OTC:<a class="ticker" href="/stock/PFMS#OTC">PFMS</a>) was the smallest firm based on market cap to set a new 52-week high</li>
	<li>WEC Energy Group (NYSE:<a class="ticker" href="/stock/WEC#NYSE">WEC</a>) slumped the most, hitting a new 52-week high but then dropping 0.83%.</li>
</ul>

Here are all the stocks that set new 52-week highs as of 10am on Friday:

<ul>
	<li>PBS Holding (OTC:<a class="ticker" href="/stock/PBHG#OTC">PBHG</a>) stock on Friday broke to a yearly high of $0.0004. Shares traded up 66.67%.</li>
	<li>Lockheed Martin (NYSE:<a class="ticker" href="/stock/LMT#NYSE">LMT</a>) stock made a new 52-week high of $386.66 Friday. The stock was down 0.12% for the day.</li>
	<li>NextEra Energy (NYSE:<a class="ticker" href="/stock/NEE#NYSE">NEE</a>) shares hit $222.00 on Friday morning, setting a new 52-week high for a change of up 0.84%.</li>
	<li>American Tower (NYSE:<a class="ticker" href="/stock/AMT#NYSE">AMT</a>) shares were up 0.79% on Friday to hit a new 52-week high of $229.07 for a change of up 0.79%.</li>
	<li>Intuit (NASDAQ:<a class="ticker" href="/stock/INTU#NASDAQ">INTU</a>) shares broke to $290.38 on Friday, setting a new 52-week high with a change of up 5.72%.</li>
	<li>Public Storage (NYSE:<a class="ticker" href="/stock/PSA#NYSE">PSA</a>) shares reached a new 52-week high of $263.03 on Friday morning, moving up 0.68%.</li>
	<li>Xcel Energy (NASDAQ:<a class="ticker" href="/stock/XEL#NASDAQ">XEL</a>) stock on Friday broke to a yearly high of $63.42. Shares traded up 0.49%.</li>
	<li>Tokyo Electron (OTC:<a class="ticker" href="/stock/TOELY#OTC">TOELY</a>) shares set a new 52-week high of $45.52 on Friday, moving up 0.01%.</li>
	<li>Altice USA (NYSE:<a class="ticker" href="/stock/ATUS#NYSE">ATUS</a>) shares were up 0.04% on Friday to hit a new 52-week high of $27.82 for a change of up 0.04%.</li>
	<li>Essex Property Trust (NYSE:<a class="ticker" href="/stock/ESS#NYSE">ESS</a>) shares hit a yearly high of $321.24. The stock traded up 0.16% on the session.</li>
	<li>Eversource Energy (NYSE:<a class="ticker" href="/stock/ES#NYSE">ES</a>) stock set a new 52-week high of $80.00 Friday morning. Over the session, the stock traded up 0.4%.</li>
	<li>Hartford Financial Servs (NYSE:<a class="ticker" href="/stock/HIG#NYSE">HIG</a>) shares were up 0.35% for the day, having made a 52-week high of $59.69.</li>
	<li>American Water Works Co (NYSE:<a class="ticker" href="/stock/AWK#NYSE">AWK</a>) shares hit $125.36 on Friday morning, setting a new 52-week high for a change of up 0.38%.</li>
	<li>Sino Biopharmaceutical (OTC:<a class="ticker" href="/stock/SBHMY#OTC">SBHMY</a>) shares were up 2.19% on Friday to hit a new 52-week high of $27.25 for a change of up 2.19%.</li>
	<li>W.P. Carey (NYSE:<a class="ticker" href="/stock/WPC#NYSE">WPC</a>) shares set a new 52-week high of $89.28 on Friday, moving up 0.83%.</li>
	<li>Mid-America Apartment (NYSE:<a class="ticker" href="/stock/MAA#NYSE">MAA</a>) shares hit a new 52-week high of $127.19. The stock traded down 0.09% on the session.</li>
	<li>DexCom (NASDAQ:<a class="ticker" href="/stock/DXCM#NASDAQ">DXCM</a>) shares hit $175.75 on Friday morning, setting a new 52-week high for a change of up 0.42%.</li>
	<li>MarketAxess Holdings (NASDAQ:<a class="ticker" href="/stock/MKTX#NASDAQ">MKTX</a>) stock hit a yearly high price of $395.09. The stock was up 0.03% for the day.</li>
	<li>Centrais Eletricas (NYSE:<a class="ticker" href="/stock/EBR#NYSE">EBR</a>) shares hit a new 52-week high of $11.58. The stock traded up 1.69% on the session.</li>
	<li>Martin Marietta Materials (NYSE:<a class="ticker" href="/stock/MLM#NYSE">MLM</a>) shares reached a new 52-week high of $257.69 on Friday morning, moving up 0.41%.</li>
	<li>CMS Energy (NYSE:<a class="ticker" href="/stock/CMS#NYSE">CMS</a>) shares broke to $62.39 on Friday, setting a new 52-week high with a change of up 0.34%.</li>
	<li>Entergy (NYSE:<a class="ticker" href="/stock/ETR#NYSE">ETR</a>) stock made a new 52-week high of $111.97 Friday. The stock was up 0.49% for the day.</li>
	<li>Alliant Energy (NASDAQ:<a class="ticker" href="/stock/LNT#NASDAQ">LNT</a>) shares set a new 52-week high of $52.34 on Friday, moving up 0.42%.</li>
	<li>Sun Communities (NYSE:<a class="ticker" href="/stock/SUI#NYSE">SUI</a>) shares reached a new 52-week high of $148.41 on Friday morning, moving up 0.72%.</li>
	<li>ENN Energy Holdings (OTC:<a class="ticker" href="/stock/XNGSY#OTC">XNGSY</a>) shares achieved a new 52-week high on Friday morning, hitting $43.88 with a daily change of up 7.03%.</li>
	<li>Equity Lifestyle Props (NYSE:<a class="ticker" href="/stock/ELS#NYSE">ELS</a>) shares reached a new 52-week high of $137.15 on Friday morning, moving up 0.41%.</li>
	<li>HCP (NYSE:<a class="ticker" href="/stock/HCP#NYSE">HCP</a>) shares were up 0.81% for the day, having made a 52-week high of $34.76.</li>
	<li>Southern (NYSE:<a class="ticker" href="/stock/SO#NYSE">SO</a>) shares hit a yearly high of $58.79. The stock traded up 0.31% on the session.</li>
	<li>CSPC Pharmaceutical Group (OTC:<a class="ticker" href="/stock/CSPCY#OTC">CSPCY</a>) shares set a new 52-week high of $8.00 on Friday, moving up 4.58%.</li>
	<li>Experian (OTC:<a class="ticker" href="/stock/EXPGF#OTC">EXPGF</a>) stock made a new 52-week high of $31.49 Friday. The stock was up 0.54% for the day.</li>
	<li>National Retail Props (NYSE:<a class="ticker" href="/stock/NNN#NYSE">NNN</a>) shares were up 0.52% on Friday morning to hit a new 52-week high of $55.99.</li>
	<li>Hershey (NYSE:<a class="ticker" href="/stock/HSY#NYSE">HSY</a>) shares hit a new 52-week high of $158.92. The stock traded up 0.22% on the session.</li>
	<li>Evergy (NYSE:<a class="ticker" href="/stock/EVRG#NYSE">EVRG</a>) shares broke to $65.45 on Friday, setting a new 52-week high with a change of up 0.31%.</li>
	<li>Ceridian HCM Holding (NYSE:<a class="ticker" href="/stock/CDAY#NYSE">CDAY</a>) shares were up 0.56% on Friday to hit a new 52-week high of $58.49 for a change of up 0.56%.</li>
	<li>Anglogold Ashanti (NYSE:<a class="ticker" href="/stock/AU#NYSE">AU</a>) shares were up 1.44% for the day, having made a 52-week high of $21.92.</li>
	<li>Tyler Technologies (NYSE:<a class="ticker" href="/stock/TYL#NYSE">TYL</a>) shares hit a new 52-week high of $259.67. The stock traded up 0.22% on the session.</li>
	<li>Rumo (OTC:<a class="ticker" href="/stock/RUMOF#OTC">RUMOF</a>) stock made a new 52-week high of $5.49 Friday. The stock was flat% for the day.</li>
	<li>Swiss Prime Site (OTC:<a class="ticker" href="/stock/SWPRF#OTC">SWPRF</a>) shares broke to a new 52-week high of $101.00 on Friday. Shares of the company traded up 1.61%.</li>
	<li>Insulet (NASDAQ:<a class="ticker" href="/stock/PODD#NASDAQ">PODD</a>) shares broke to a new 52-week high of $156.41 on Friday. Shares of the company traded up 1.04%.</li>
	<li>Harmony Gold Mining Co (NYSE:<a class="ticker" href="/stock/HMY#NYSE">HMY</a>) stock hit a yearly high price of $3.38. The stock was up 3.15% for the day.</li>
	<li>HubSpot (NYSE:<a class="ticker" href="/stock/HUBS#NYSE">HUBS</a>) shares hit $204.66 on Friday morning, setting a new 52-week high for a change of up 0.76%.</li>
	<li>Omega Healthcare (NYSE:<a class="ticker" href="/stock/OHI#NYSE">OHI</a>) shares were up 1.74% for the day, having made a 52-week high of $40.32.</li>
	<li>Chandra Asri (OTC:<a class="ticker" href="/stock/PTPIF#OTC">PTPIF</a>) shares broke to a new 52-week high of $0.55 on Friday. Shares of the company traded up 5.77%.</li>
	<li>Idacorp (NYSE:<a class="ticker" href="/stock/IDA#NYSE">IDA</a>) shares were up 0.06% on Friday morning to hit a new 52-week high of $108.94.</li>
	<li>US Foods Holding (NYSE:<a class="ticker" href="/stock/USFD#NYSE">USFD</a>) shares set a new 52-week high of $40.43 on Friday, moving up 0.17%.</li>
	<li>First Industrial Realty (NYSE:<a class="ticker" href="/stock/FR#NYSE">FR</a>) shares set a new yearly high of $39.06 this morning. The stock was down 0.18% on the session.</li>
	<li>Grand Canyon Education (NASDAQ:<a class="ticker" href="/stock/LOPE#NASDAQ">LOPE</a>) shares achieved a new 52-week high on Friday morning, hitting $131.52 with a daily change of down 0.83%.</li>
	<li>Americold Realty Trust (NYSE:<a class="ticker" href="/stock/COLD#NYSE">COLD</a>) stock made a new 52-week high of $36.79 Friday. The stock was up 0.05% for the day.</li>
	<li>Portland General Electric (NYSE:<a class="ticker" href="/stock/POR#NYSE">POR</a>) shares broke to a new 52-week high of $56.84 on Friday. Shares of the company traded up 0.16%.</li>
	<li>Spirit Realty Capital (NYSE:<a class="ticker" href="/stock/SRC#NYSE">SRC</a>) shares hit a new 52-week high of $46.74. The stock traded down 0.11% on the session.</li>
	<li>Switch (NYSE:<a class="ticker" href="/stock/SWCH#NYSE">SWCH</a>) shares reached a new 52-week high of $16.54 on Friday morning, moving up 0.3%.</li>
	<li>WEC Energy Group (NYSE:<a class="ticker" href="/stock/WEC#NYSE">WEC</a>) shares hit a new 52-week high of $93.45. The stock traded up 0.54% on the session.</li>
	<li>KB Home (NYSE:<a class="ticker" href="/stock/KBH#NYSE">KBH</a>) shares reached a new 52-week high of $28.69 on Friday morning, moving up 0.95%.</li>
	<li>Generac Hldgs (NYSE:<a class="ticker" href="/stock/GNRC#NYSE">GNRC</a>) shares set a new yearly high of $76.45 this morning. The stock was down 0.27% on the session.</li>
	<li>LivePerson (NASDAQ:<a class="ticker" href="/stock/LPSN#NASDAQ">LPSN</a>) shares were down 0.27% for the day, having made a 52-week high of $40.74.</li>
	<li>Zai Lab (NASDAQ:<a class="ticker" href="/stock/ZLAB#NASDAQ">ZLAB</a>) shares set a new 52-week high of $37.98 on Friday, moving up 1.3%.</li>
	<li>QIWI (NASDAQ:<a class="ticker" href="/stock/QIWI#NASDAQ">QIWI</a>) shares were up 2.2% on Friday to hit a new 52-week high of $23.92 for a change of up 2.2%.</li>
	<li>NexPoint Residential (NYSE:<a class="ticker" href="/stock/NXRT#NYSE">NXRT</a>) shares hit a new 52-week high of $46.71. The stock traded up 0.02% on the session.</li>
	<li>Bandwidth (NASDAQ:<a class="ticker" href="/stock/BAND#NASDAQ">BAND</a>) shares were up 1.03% for the day, having made a 52-week high of $89.54.</li>
	<li>Entertainment One (OTC:<a class="ticker" href="/stock/ENTMF#OTC">ENTMF</a>) stock made a new 52-week high of $6.36 Friday. The stock was up 39.05% for the day.</li>
	<li>Cargojet (OTC:<a class="ticker" href="/stock/CGJTF#OTC">CGJTF</a>) shares broke to a new 52-week high of $79.94 on Friday. Shares of the company traded up 17.94%.</li>
	<li>John B Sanfilippo &amp; Son (NASDAQ:<a class="ticker" href="/stock/JBSS#NASDAQ">JBSS</a>) shares were up 1.29% for the day, having made a 52-week high of $88.84.</li>
	<li>Dundee Precious Metals (OTC:<a class="ticker" href="/stock/DPMLF#OTC">DPMLF</a>) shares were up 0.32% for the day, having made a 52-week high of $4.15.</li>
	<li>Spirent Communications (OTC:<a class="ticker" href="/stock/SPMYY#OTC">SPMYY</a>) shares reached a new 52-week high of $8.84 on Friday morning, moving up 1.89%.</li>
	<li>Taylor Morrison Home (NYSE:<a class="ticker" href="/stock/TMHC#NYSE">TMHC</a>) shares were down 0.08% on Friday morning to hit a new 52-week high of $23.78.</li>
	<li>SBA Communications (NASDAQ:<a class="ticker" href="/stock/SBAC#NASDAQ">SBAC</a>) shares achieved a new 52-week high on Friday morning, hitting $263.06 with a daily change of up 1.12%.</li>
	<li>Formula Systems (1985) (NASDAQ:<a class="ticker" href="/stock/FORTY#NASDAQ">FORTY</a>) shares achieved a new 52-week high on Friday morning, hitting $64.80 with a daily change of up 1.71%.</li>
	<li>Aerojet Rocketdyne Hldgs (NYSE:<a class="ticker" href="/stock/AJRD#NYSE">AJRD</a>) shares broke to $51.98 on Friday, setting a new 52-week high with a change of down 0.27%.</li>
	<li>Cincinnati Financial (NASDAQ:<a class="ticker" href="/stock/CINF#NASDAQ">CINF</a>) shares hit a new 52-week high of $111.33. The stock traded up 0.22% on the session.</li>
	<li>NextCure (NASDAQ:<a class="ticker" href="/stock/NXTC#NASDAQ">NXTC</a>) shares set a new 52-week high of $30.88 on Friday, moving up 1.78%.</li>
	<li>Legacy Acquisition (NYSE:<a class="ticker" href="/stock/LGC#NYSE">LGC</a>) shares set a new 52-week high of $10.21 on Friday, moving up 0.39%.</li>
	<li>Intelligent Systems (AMEX:<a class="ticker" href="/stock/INS#AMEX">INS</a>) shares set a new 52-week high of $55.64 on Friday, moving down 0.73%.</li>
	<li>PennyMac Financial Servs (NYSE:<a class="ticker" href="/stock/PFSI#NYSE">PFSI</a>) shares were up 0.04% on Friday morning to hit a new 52-week high of $28.69.</li>
	<li>Wendy&#39;s (NASDAQ:<a class="ticker" href="/stock/WEN#NASDAQ">WEN</a>) shares hit a yearly high of $21.36. The stock traded up 0.76% on the session.</li>
	<li>Megaport (OTC:<a class="ticker" href="/stock/MGPPF#OTC">MGPPF</a>) shares hit a new 52-week high of $5.90. The stock traded up 3.51% on the session.</li>
	<li>High Liner Foods (OTC:<a class="ticker" href="/stock/HLNFF#OTC">HLNFF</a>) shares were up 4.22% on Friday morning to hit a new 52-week high of $8.44.</li>
	<li>Independence Realty Trust (NYSE:<a class="ticker" href="/stock/IRT#NYSE">IRT</a>) stock set a new 52-week high of $13.92 Friday morning. Over the session, the stock traded up 1.16%.</li>
	<li>China VTV (OTC:<a class="ticker" href="/stock/CVTV#OTC">CVTV</a>) shares broke to a new 52-week high of $6.87 on Friday. Shares of the company traded flat%.</li>
	<li>American States Water (NYSE:<a class="ticker" href="/stock/AWR#NYSE">AWR</a>) shares were up 0.89% on Friday to hit a new 52-week high of $89.04 for a change of up 0.89%.</li>
	<li>Great Bear Resources (OTC:<a class="ticker" href="/stock/GTBDF#OTC">GTBDF</a>) shares reached a new 52-week high of $4.97 on Friday morning, moving up 5.19%.</li>
	<li>Hebron Tech Co (NASDAQ:<a class="ticker" href="/stock/HEBT#NASDAQ">HEBT</a>) stock made a new 52-week high of $2.99 Friday. The stock was up 2.44% for the day.</li>
	<li>Lipocine (NASDAQ:<a class="ticker" href="/stock/LPCN#NASDAQ">LPCN</a>) stock made a new 52-week high of $2.81 Friday. The stock was up 1.46% for the day.</li>
	<li>Eastern Platinum (OTC:<a class="ticker" href="/stock/ELRFF#OTC">ELRFF</a>) shares were up 6.13% for the day, having made a 52-week high of $0.23.</li>
	<li>Trxade Group (OTC:<a class="ticker" href="/stock/TRXD#OTC">TRXD</a>) shares set a new yearly high of $1.10 this morning. The stock was flat% on the session.</li>
	<li>Lighthouse Bank Ca (OTC:<a class="ticker" href="/stock/LGHT#OTC">LGHT</a>) shares were up 0.93% on Friday morning to hit a new 52-week high of $25.99.</li>
	<li>Talisker Resources (OTC:<a class="ticker" href="/stock/TSKFF#OTC">TSKFF</a>) shares broke to $0.15 on Friday, setting a new 52-week high with a change of flat%.</li>
	<li>Fuwei Films (Holdings) Co (NASDAQ:<a class="ticker" href="/stock/FFHL#NASDAQ">FFHL</a>) shares hit a yearly high of $3.70. The stock traded up 179.19% on the session.</li>
	<li>Blackrock Gold (OTC:<a class="ticker" href="/stock/BKRRF#OTC">BKRRF</a>) stock set a new 52-week high of $0.15 Friday morning. Over the session, the stock traded up 8.44%.</li>
	<li>Pure Nickel (OTC:<a class="ticker" href="/stock/PNCKF#OTC">PNCKF</a>) shares broke to a new 52-week high of $0.05 on Friday. Shares of the company traded up 2.92%.</li>
	<li>Benz Mining (OTC:<a class="ticker" href="/stock/BENZF#OTC">BENZF</a>) stock made a new 52-week high of $0.09 Friday. The stock was up 75.0% for the day.</li>
	<li>China Dongsheng (OTC:<a class="ticker" href="/stock/CDSG#OTC">CDSG</a>) shares hit a yearly high of $0.06. The stock traded up 184.36% on the session.</li>
	<li>Worldwide Resources (OTC:<a class="ticker" href="/stock/ECNRF#OTC">ECNRF</a>) shares set a new yearly high of $0.04 this morning. The stock was up 0.29% on the session.</li>
	<li>PaperFree Medical (OTC:<a class="ticker" href="/stock/PFMS#OTC">PFMS</a>) shares broke to a new 52-week high of $0.01 on Friday. Shares of the company traded up 32.08%.</li>
</ul>

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CSPC Pharma Gr

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Latest news for CSPC Pharma Gr (OTC:CSPCY) Stock

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