Latest news for Shanghai Fosun (OTC:SFOSF) Stock

Shanghai Fosun Pharmaceutical (Group) Co Ltd is engaged in the development, manufacture, and sale of pharmaceutical products and medical equipment, the import and export of medical equipment, and the provision of related and other consulting services and investment management. Its business segments are Pharmaceutical manufacturing, Healthcare Services, Medical devices, and medical diagnosis. It generates the majority of its revenue from the Pharmaceutical manufacturing segment. The company considers merger and acquisition investment as a potential component of its operational growth for expanding its research, development, manufacturing, and marketing capabilities. Its geographic areas are the Chinese mainland, Regions outside the Chinese mainland, and other countries.

Biotech

News

Health Care

General

BNTX

SFOSF

Taiwan Puts BioNTech Vaccine Deal On Hold Due To Pressure From China: Bloomberg

Penny Stocks

Retail Sales

Media

Millions of doses of Pfizer Inc (NYSE: PFE) and BioNTech SE’s  (NASDAQ: BNTX) COVID-19 vaccine will be administered in China alongside home-made options, Bloomberg 

China Secures 100M Doses Of Pfizer-BioNTech COVID-19 Vaccine For 2021

MRNA

NVAX

The whole world is coming together in the fight against COVID-19. The quest for a vaccine is revolutionizing the controversial Big Pharma. Nearly 200 vaccine candidates are in development, 39 in human clinical trials and nine in Phase III trials.

Big Pharma&#39;s Vaccine Race – A Chance For Redemption

Shanghai Fosun Pharmaceutical (Group) Co Ltd Class H

Shanghai Fosun Pharmaceutical (Group) Co 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

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

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Shanghai Fosun

<ul>
	<li>An attempt by Taiwan to secure five million doses of&nbsp;Pfizer Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/pfe#NYSE" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">PFE</a>) /&nbsp;BioNTech SE&rsquo;s&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/bntx#NASDAQ" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">BNTX</a>) COVID-19 vaccine failed &ldquo;at the final step&rdquo; of negotiations because of &ldquo;political pressure,&rdquo; revealed Taipei&rsquo;s health minister Chen Shih-Chung, during a radio interview,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2021-02-17/taiwan-concerned-china-may-have-blocked-vaccine-purchase?sref=TBDibEcD" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">Bloomberg reports</a>.</li>
	<li>Interference by &ldquo;external forces&rdquo; upset arrangements, Chen said. &ldquo;There are some people that don&rsquo;t want Taiwan to be too happy.&rdquo;</li>
	<li>Taiwan&rsquo;s government is still talking with BioNTech, according to Presidential Office spokeswoman Kolas Yotaka. Inoculation in Taiwan has not yet started, but Chen said efforts to procure them from overseas continue, with the first vaccinations expected to start by mid of this year.</li>
	<li>BioNTech signed a deal with Chinese firm&nbsp;Shanghai Fosun Pharmaceutical Group Co Ltd&nbsp;(OTC:<a class="ticker" href="/stock/SFOSF#OTC">SFOSF</a>) to exclusively develop and commercialize COVID-19 vaccine products using BioNTech&rsquo;s mRNA technology in mainland China, Hong Kong, Macau, and Taiwan.</li>
	<li>BioNTech and Fosun did not immediately respond to a request for comment.</li>
	<li>In December last year, Taiwan agreed to buy almost 20 million doses of the COVID-19 vaccine, including 10 million from&nbsp;AstraZeneca plc&nbsp;(NASDAQ:<a class="ticker" href="/stock/AZN#NASDAQ">AZN</a>), with the rest coming from the COVAX global vaccine program.</li>
	<li>In December,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/20/12/18809547/china-secures-100m-doses-of-pfizer-biontech-covid-19-vaccine-for-2021" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">China agreed to purchase</a>&nbsp;around 100 million doses of Pfizer/BioNTech shot by 2021.</li>
	<li>Price Action:&nbsp;PFE is up 0.03% at $34.7, and BNTX is up 0.5% at $115 in premarket hours on the last check Wednesday.</li>
</ul>

Millions of doses of Pfizer Inc (NYSE:<a class="ticker" href="/stock/PFE#NYSE">PFE</a>) and BioNTech SE&rsquo;s&nbsp; (NASDAQ:<a class="ticker" href="/stock/BNTX#NASDAQ">BNTX</a>) COVID-19 vaccine will be administered in China alongside home-made options, Bloomberg <a href="https://www.bloomberg.com/news/articles/2020-12-16/china-secures-100-million-doses-of-biontech-shot-to-boost-supply?sref=TBDibEcD" style="text-decoration-line:none">reported</a> Tuesday.

What Happened: Local pharmaceutical firm Shanghai Fosun Pharmaceutical (Group) Co, Ltd (OTC:<a class="ticker" href="/stock/SFOSF#OTC">SFOSF</a>) &mdash;&nbsp; which signed an agreement with BioNTech in March &mdash; will pay the German company $300 million (EUR 250 million) for an initial 50 million doses, according to Bloomberg.

Pfizer&rsquo;s German partner will supply no less than 100 million doses to China by 2021, Fosun informed the Hong Kong Stock Exchange, as per Bloomberg.

Meanwhile, COVID-19 vaccines made by China National Biotec Group Co and Sinovac Biotech Ltd are reportedly close to approval by drug regulators in China and 1.6 billion doses are expected to be manufactured in 2021.

Why It Matters: Since the Chinese vaccines require two doses and President Xi Jinping has also stated the country&rsquo;s commitment to making available successful vaccines to the developing world, there is a need for additional vaccines, noted Bloomberg.

AstraZeneca plc (NYSE:<a class="ticker" href="/stock/AZN#NYSE">AZN</a>) and its local partner will also reportedly supply the former&rsquo;s vaccine to the East Asian country.

Pfizer is not involved in the deal with China even though it is a co-developer of the vaccine, as per Reuters.

The New York-based drugmaker told the United States this month <a href="https://www.benzinga.com/general/biotech/20/12/18687865/pfizer-tells-us-it-cant-provide-substantial-extra-doses-before-june-as-other-countries-have-alrea" style="text-decoration-line:none">it cannot provide extra doses</a> before June as other countries have already secured supplies, the Washington Post reported.

Price Action: Pfizer shares closed almost 1.3% lower at $38.71 on Tuesday and fell 0.52% in the after-hours session. On the same day, BioNTech shares closed nearly 2.7% higher at $111.20 and rose 0.85% in the after-hours session. Fosun OTC shares closed 0.21% lower at $4.74.

See Also:&nbsp;<a href="https://www.benzinga.com/general/biotech/20/12/18762366/pfizer-biontech-gets-fda-nod-for-emergency-use-of-coronavirus-vaccine-deliveries-to-begin-immedia">Pfizer-BioNTech Gets FDA Nod For Emergency Use Of Coronavirus Vaccine; Deliveries To Begin Immediately</a>

The whole world is coming together in the fight against COVID-19. The quest for a vaccine is revolutionizing the controversial Big Pharma. Nearly 200 vaccine candidates are in development, 39 in human clinical trials and nine in Phase III trials.

<h4>Cooperation</h4>

Perhaps the most unexpected aspect of this unprecedented pandemic has been the wholehearted embrace of collaboration in the pharmaceutical industry, which was characterized as everything but a collective spirit.

We&#39;ve seen traditional pharma giant AstraZeneca (NYSE:<a class="ticker" href="/stock/AZN#NYSE">AZN</a>) joining forces with a legendary academic institution such as University of Oxford to compensate for the effect it was not a major player in vaccines. We&#39;ve seen rivals snuggle up in pairs such as Sanofi (NASDAQ:<a class="ticker" href="/stock/SNY#NASDAQ">SNY</a>) and GSK (NYSE:<a class="ticker" href="/stock/GSK#NYSE">GSK</a>) and international collaborations galore: Germany&#39;s BioNTech (NASDAQ:<a class="ticker" href="/stock/BNTX#NASDAQ">BNTX</a>), for instance, is testing one novel messenger RNA vaccine with giant Pfizer (NYSE:<a class="ticker" href="/stock/PFE#NYSE">PFE</a>), in New York, and a second with Shanghai Fosun Pharmaceutical (OTC:<a class="ticker" href="/stock/SFOSF#OTC">SFOSF</a>).

<h4>Moderna, Innovio, Pfizer and BioNTech</h4>

Clinical-stage biotech companies like Moderna (NASDAQ:<a class="ticker" href="/stock/MRNA#NASDAQ">MRNA</a>) and Inovio Pharmaceuticals (NASDAQ:<a class="ticker" href="/stock/INO#NASDAQ">INO</a>) have also rapidly entered into clinical trials which has led them to dramatic share-price gains. Moreover, Moderna&#39;s investigational candidate was the first to enter human trials, and Inovio followed quickly. Moderna&#39;s shares have gained 258% this year, while Inovio has climbed 256%.

A big Pharma player could also be near the finish line as Pfizer partnered with Germany&#39;s BioNTech in March. Both Moderna and the Pfizer/BioNTech team are developing messenger RNA (mRNA) vaccines that instruct the body&#39;s cells to produce proteins that will prevent infection unlike traditional that stimulate immunity by exposing the organism to a weaker form of the virus.

<h4>Key areas</h4>

Results from a phase 1 trial of the Pfizer candidate show promise in key areas: neutralizing antibodies that protect against their infection and safe and effective performance in the elderly which have been among the most vulnerable.

<h4>Supply</h4>

As for manufacturing, AstraZeneca seems to be leading in that &quot;game&quot;. Its planned supply covers nearly 3 billion doses whereas Pfizer plans to deliver as many as 1.3 billion doses by the end of next year. Pfizer&#39;s capacity remains greater than that of its closest biotech rival in terms of timeline, Moderna. Its range is between 500 million and 1 billion doses annually starting next year.

<h4>Late-comers : Novavax and JNJ</h4>

Two very different drugmakers have recently joined the late-stage testing landscape. Johnson &amp; Johnson (NYSE:<a class="ticker" href="/stock/JNJ#NYSE">JNJ</a>) phase 3 clinical study of JNJ-78436735, also known as Ad26.COV2.S, began in late September, gathering 60,000 people whereas Novavax (NASDAQ:<a class="ticker" href="/stock/NVAX#NASDAQ">NVAX</a>) started a phase 3 test of its COVID-19 vaccine candidate in the U.K. the following day. J.P. Morgan analysts think that Novavax&#39;s NVX-CoV2373 could be the best of the leading COVID-19 vaccines in development as it already sealed big deals with both the U.S., the U.K. and Canada.

Novavax was behind Johnson &amp; Johnson in moving forward with a late-stage study of its coronavirus vaccine candidate in the U.S but it expects to begin a phase 3 trial in the U.S. this month but as of Monday, Johnson &amp; Johnson trial has been paused due to an unexplained illness. Although Johnson &amp; Johnson is definitely less risky than Novavax, the latter has much greater growth prospects especially if its NanoFlu, the nanoparticle-based influenza vaccine gets approved by FDA as it could generate peak annual sales of around $1.7 billion.

<h4>A chance for redemption</h4>

On a bright note, drugmakers are joining forces like never before to fight the coronavirus. The benefits could last well beyond the pandemic. The pharmaceutical industry was the most disliked sector in the US according to Gallup&#39;s polling but COVID-19 has provided the Big Pharma with an opportunity for redemption. Their response to the pandemic has reminded many of their capacities and how they can be helpful to the world. The only question is can they rise to the challenge as there is no guarantee that even these late-stage clinical trials will be successful.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full <a href="https://iamnewswire.com/disclaimer-disclosure/">disclosure</a> . IAM Newswire does not hold any position in the mentioned companies. Press Releases &ndash; If you are looking for full Press release distribution contact: <a href="mailto:press@iamnewswire.com">press@iamnewswire.com</a> Contributors &ndash; IAM Newswire accepts pitches. If you&#39;re interested in becoming an IAM journalist contact: <a href="mailto:contributors@iamnewswire.com">contributors@iamnewswire.com</a>

The post <a href="https://iamnewswire.com/2020/10/15/the-big-pharma-race-a-chance-for-redemption/" rel="nofollow">The Big Pharma Race &ndash; A Chance for Redemption</a> appeared first on <a href="https://iamnewswire.com" rel="nofollow">IAM Newswire</a>.

Big Pharma's Vaccine Race – A Chance For Redemption

Since the beginning of the pandemic, AstraZeneca (NYSE:<a class="ticker" href="/stock/AZN#NYSE">AZN</a>) was among the front-runners in the COVID-19 vaccine race. The company has joined forces with the University of Oxford to develop its candidate, AZD1222.

But investors recently got a bitter reminder of the difficulties and risks of clinical trials. AstraZeneca had to pause its trial after a patient showed serious neurological symptoms on September 8th. Although the trial resumed&nbsp;after a few days, it was a wake-up call for investors who are looking to profit from these efforts.

Although halts are quite common in clinical trials, especially of this magnitude, it was still enough for its stock to drop about 8 percent. Fortunately, AstraZeneca&#39;s stock rebounded relatively swiftly the next day as it became clear that the initial news wasn&#39;t as damaging to the entire program as it initially seemed.

<h4>Competitive landscape</h4>

AstraZeneca was fast out of the gate and was one of the first to start a phase 2/3 clinical trial back in May. It was seen as a promising candidate by both the U.S. government and the European Union.

Only a few companies in this race received such support, such as the ongoing trial from Pfizer Inc (NYSE:<a class="ticker" href="/stock/PFE#NYSE">PFE</a>), BioNTech (NASDAQ:<a class="ticker" href="/stock/BNTX#NASDAQ">BNTX</a>) and Fosun Pharmaceutical (OTC:<a class="ticker" href="/stock/SFOSF#OTC">SFOSF</a>) or the leading candidate from Johnson &amp; Johnson (NYSE:<a class="ticker" href="/stock/JNJ#NYSE">JNJ</a>), which just launched its Phase III in Europe. The program from Sanofi (NASDAQ:<a class="ticker" href="/stock/SNY#NASDAQ">SNY</a>) and GlaxoSmithKline plc (NYSE:<a class="ticker" href="/stock/GSK#NYSE">GSK</a>) plans to finalize its last stage by the end of the year.

<h4>The strength of AstraZeneca</h4>

AstraZeneca&#39;s stock has benefitted from its vaccine development as its shares are up 7.7% year to date, though the company was doing more than fine before the pandemic struck. Over the trailing-12-month period, its sales were $25.7 billion resulting in a net income of $2.15 billion from multiple products and programs in its pipeline.

<h4>Competitors</h4>

By contrast, the success of Inovio Pharmaceuticals (NASDAQ:<a class="ticker" href="/stock/INO#NASDAQ">INO</a>) and Moderna (NASDAQ:<a class="ticker" href="/stock/MRNA#NASDAQ">MRNA</a>) greatly depends on the outcome of their COVID-19 efforts.

Inovio&#39;s stock is up by 202.4% year to date. Moreover, its market cap skyrocketed from $325.37 million on January 2nd to $1.67 billion. The vaccine will literally make or break Inovio as these gains have been almost entirely driven by its efforts to develop a vaccine for COVID-19. Its stock could easily burn in flames if any sort of obstacle arises. Moderna is in the same boat. Its shares are up by 199.1%, expanding its market cap from $6.47 billion to $23.11 billion in the same timeframe. Moreover, its cap seems too high for a clinical-stage biotech company, so its stock could just as easily fall off a cliff if its efforts are unsuccessful.

<h4>A wake-up call</h4>

Leading U.S. and European pharma giants have pledged to keep safety as their priority while they develop their candidates. CEOs of nine biopharmaceutical companies pledged of scientific integrity. Putting it bluntly, they promised they will not succumb to political pressures to rush the process as the WHO&#39;s chief referred to AstraZeneca&#39;s pause as a &lsquo;wake up call&#39;.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full <a href="https://iamnewswire.com/disclaimer-disclosure/">disclosure</a> . IAM Newswire does not hold any position in the mentioned companies. Press Releases &ndash; If you are looking for full Press release distribution contact: <a href="mailto:press@iamnewswire.com">press@iamnewswire.com</a> Contributors &ndash; IAM Newswire accepts pitches. If you&#39;re interested in becoming an IAM journalist contact: <a href="mailto:contributors@iamnewswire.com">contributors@iamnewswire.com</a>

The post <a href="https://iamnewswire.com/2020/09/17/is-astrazeneca-still-a-safe-bet/" rel="nofollow">Is AstraZeneca Still a Safe Bet?</a> appeared first on <a href="https://iamnewswire.com" rel="nofollow">IAM Newswire</a>.

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