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How much a stock&#39;s price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.

FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks.

If You Invested $1000 in Micron 10 Years Ago, This Is How Much You&#39;d Have Now

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Toshiba&#39;s delisting and the shift to private ownership will now be under the scrutiny of the Japanese government, as the company is deemed crucial to national security and employs around 106,000 people.

End Of An Era: Toshiba Delisted From Tokyo Stock Exchange After 74 Years

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Weekly Jobless Claims Unexpectedly Fall 20K To 201K

Weekly Jobless Claims Unexpectedly Fal, Google Ditches Broadcom In Favor of Marvell Chips, Hollywood Strike Might End: Today&#39;s Top Stories

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How much a stock&#39;s price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.
FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks.
What if you&#39;d invested in Micron (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mu#NASDAQ">MU</a>) ten years ago? It may not have been easy to hold on to MU for all that time, but if you did, how much would your investment be worth today?
Micron&#39;s Business In-Depth
With that in mind, let&#39;s take a look at Micron&#39;s main business drivers.
Idaho-based Micron Technology has established itself as one of the leading worldwide providers of semiconductor memory solutions. 
Through global brands, namely Micron, Crucial and Ballistix, Micron manufactures and markets high-performance memory and storage technologies including Dynamic Random Access Memory, NAND flash memory, NOR Flash, 3D XPoint memory and other technologies. Its solutions are used in leading-edge computing, consumer, networking and mobile products. 
A major portion of the revenues is derived from DRAM sales. The company&#39;s mission is to be the most efficient and innovative global provider of semiconductor memory solutions. 
Micron reported revenues of $15.54 billion in fiscal 2023. The company has four reportable segments: 
Compute and Networking Business Unit (CNBU): The unit comprises of DRAM and NOR Flash products that are sold to the computer, networking, graphics, and cloud server markets, and NAND Flash products which are sold into the networking market. CNBU delivered revenues of $5.71 billion (37% of total revenues) in fiscal 2023. 
Mobile Business Unit (MBU): The unit comprises Micron&#39;s discrete DRAM, discrete NAND and managed NAND (including eMMC and universal flash storage&nbsp;solutions) products that are sold to smartphone and other mobile-device markets. MBU generated revenues of $3.63 billion (23%) in fiscal 2023. 
Storage Business Unit (SBU): The unit accounts for solid state drives (SSDs) and component-level solutions sold into enterprise and cloud, client and consumer storage markets as well as other discrete storage products sold in component and wafer forms to the removable storage markets. SBU&#39;s revenues grossed $2.55 billion (16%) in fiscal 2023. 
Embedded Business Unit (EBU): The unit includes Micron&#39;s discrete DRAM, discrete NAND, managed NAND and NOR products, which are sold to the automotive, industrial and consumer markets. EBU&#39;s revenues logged $3.64 billion (24%) in fiscal 2023. 
The company struggles with intense competition from Intel (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>), Samsung Electronics (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssnlf#OTC">SSNLF</a>), SK Hynix (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hxscf#OTC">HXSCF</a>), Toshiba Memory&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) and Western Digital Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wdc#NASDAQ">WDC</a>).
Bottom Line
Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. So, if you had invested in Micron a decade ago, you&#39;re probably feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in June 2014 would be worth $4,432.63, or a gain of 343.26%, as of June 10, 2024, and this return excludes dividends but includes price increases.
Compare this to the S&amp;P 500&#39;s rally of 174.28% and gold&#39;s return of 74.31% over the same time frame.
Analysts are forecasting more upside for MU too.
Micron is benefiting from improved market conditions, robust sales executions and strong growth across multiple business units. The positive impact of inventory improvement in the data center, as well as stabilization in other markets, such as automotive, industrial and others, is contributing to top-line growth. It anticipates the pricing of DRAM and NAND chips to increase next year, thereby improving its revenues. The pricing benefits will primarily be driven by rising AI servers, causing a scarcity in the availability of cutting-edge DRAM and NAND supply. Also, 5G adoption in the Internet of Things devices and wireless infrastructure is likely to spur demand for memory and storage. The stock has outperformed the S&amp;P 500 year to date. However, the United States and China&#39;s tit-for-tat trade war is a major threat to the company.
Over the past four weeks, shares have rallied 8%, and there have been 1 higher earnings estimate revisions in the past two months for fiscal 2024 compared to none lower. The consensus estimate has moved up as well.
<a href="https://www.zacks.com/stock/news/2285802/if-you-invested-1000-in-micron-10-years-ago-this-is-how-much-you-d-have-now?cid=CS-BENZ-FT-tale_of_the_tape|investing_$1000-2285802">To read this article on Zacks.com click here.</a>

If You Invested $1000 in Micron 10 Years Ago, This Is How Much You'd Have Now

Japanese tech giant Toshiba Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TOSBF#OTC">TOSBF</a>), (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TOSYY#OTC">TOSYY</a>) concluded its 74-year presence on the Tokyo stock exchange on Wednesday, bringing an end to a tumultuous decade marked by scandals and a substantial $14 billion buyout.
What Happened: The tech behemoth will now shift to private ownership under a consortium led by Japan Industrial Partners (JIP) and including Orix Corp, Chubu Electric Power Co. Inc., and Rohm Co Ltd, as reported by Reuters.
This change comes in the wake of a sequence of controversies and overseas investor disputes that heavily impacted the company&#8217;s operations. The future of Toshiba under its new ownership is not yet clear, but it is expected that CEO Taro Shimada will focus on high-profit digital services.
See Also: <a href="https://www.benzinga.com/news/23/12/36272048/mary-trump-exposes-possible-motive-behind-donald-trumps-missing-intelligence-binder-he-would-never-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mary Trump Exposes Possible Motive Behind Donald Trump&#8217;s Missing Intelligence Binder: &#8216;He Would Never See</a>
The board of Toshiba will be joined by four executives from JIP, one representative each from Orix and Chubu Electric, and a senior advisor from Sumitomo Mitsui Financial Group Inc, the main lender for Toshiba.
Under the new ownership, Toshiba has already partnered with investor Rohm to invest $2.7 billion in manufacturing facilities for power chip production.
Why It Matters: Toshiba was valued at $16 billion in the<a href="https://www.benzinga.com/news/22/10/29382650/toshiba-bags-16b-valuation-in-takeover-bid"> takeover bid in October 2022</a>. 
In September 2023, the <a href="https://www.benzinga.com/markets/equities/23/09/34787210/toshiba-confirms-14b-jip-takeover-success-set-to-go-private">$14 billion tender offer from JIP</a> was successful, enabling the troubled tech conglomerate to go private. The successful completion of the tender offer was confirmed with the tendering of 340.46 million shares exceeding the minimum required.
Toshiba&#8217;s delisting and the shift to private ownership will now be under the scrutiny of the Japanese government, as the company is deemed crucial to national security and employs around 106,000 people.
Read Next: <a href="https://www.benzinga.com/markets/equities/23/12/36279965/trump-says-record-high-stock-market-just-making-rich-people-richer-blasts-bidens-inflation-catas?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says Record-High Stock Market Just &#8216;Making Rich People Richer,&#8217; Blasts Biden&#8217;s &#8216;Inflation Catastrop</a>
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Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/34790544/weekly-jobless-claims-unexpectedly-fall-20k-to-201k" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Weekly Jobless Claims Unexpectedly Fall 20K To 201K</a>
<ul>
<li>Weekly Initial Jobless Claims&nbsp;were 201,000, a decrease of 20,000 from the previous week&#39;s revised level, according to data the Labor Department released on Thursday.</li>
<li>The number is below the average economist estimates of 225,000 and lower than the previous week&#39;s revised level.</li>
<li>The previous week&#39;s level was revised up by 1,000 from 220,000 to 221,000.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/09/34790161/splunk-gets-acquired-by-cisco-stock-shoots-higher" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Cisco to Acquire Splunk, Stock Shoots Higher</a>
<ul>
<li>Cisco Systems Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csco#NASDAQ">CSCO</a>) agreed to acquire&nbsp;Splunk Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/splk#NASDAQ">SPLK</a>) for $157 per share in cash, representing approximately $28 billion in equity value, triggering a rally in Splunk&#39;s stock prices. Meanwhile, Cisco stock prices fell.</li>
<li>The purchase price implies a premium of 31.3% on Splunk&#39;s September 20 closing of $119.59.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/09/34787337/biden-administration-restarts-distribution-of-free-at-home-covid-19-tests-after-suspending-for-year" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Biden Administration Restarts Distribution Of Free At Home COVID-19 Tests, After Suspending For Year</a>
<ul>
<li>The Biden administration declared that it would recommence offering free at-home COVID tests to American households starting next Monday in response to the escalating spread of the virus nationwide.</li>
<li>Last September, the federal government suspended its offer of free at-home COVID-19 tests.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34783759/feeling-the-brew-starbucks-announces-a-juicy-dividend-hike" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Feeling The Brew! Starbucks Announces A Juicy Dividend Hike</a>
<ul>
<li>Starbucks Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbux#NASDAQ">SBUX</a>) said its Board of Directors approved a 7.5% increase in the company&#39;s quarterly cash dividend from $0.53 to $0.57 per share.</li>
<li>This raises the company&#39;s annual dividend rate to $2.28 per share.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34786213/keurig-dr-pepper-stirs-things-up-picks-consumer-packaged-goods-veteran-tim-cofer-as-next-ceo" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Keurig Dr Pepper Stirs Things Up: Picks Consumer Packaged Goods Veteran Tim Cofer As Next CEO</a>
<ul>
<li>Keurig Dr Pepper Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kdp#NASDAQ">KDP</a>) has appointed Tim Cofer as Chief Operating Officer, effective Nov.6, 2023, reporting to Chairman &amp; CEO Bob Gamgort.</li>
<li>Cofer will assume the Chief Executive Officer role in the second quarter of 2024.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34790922/kraft-heinz-in-meltdown-83-800-cases-of-singles-recalled-as-consumers-choke-on-plastic-stuck-to-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Kraft Heinz In Meltdown: 83,800 Cases Of Singles Recalled As Consumers Choke On Plastic Stuck To Cheese Slices</a>
<ul>
<li>The Kraft Heinz Company&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/khc#NASDAQ">KHC</a>) voluntarily recalled approximately 83,800 cases of individually wrapped Kraft Singles American processed cheese slices owing to the choking hazard of some of its wrappers.</li>
<li>The said batch of Kraft Singles American processed cheese slices was shipped to a limited number of customers.</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/34787271/googles-power-move-broadcom-ditched-in-favor-of-marvell-amid-ai-chip-wars" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Google&#39;s Power Move: Broadcom Ditched in Favor of Marvell Amid AI Chip Wars</a>
<ul>
<li>Broadcom Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>) stock is trading lower Thursday amid reports of&nbsp;Alphabet Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/goog#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOG</a>) (NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>)&nbsp;Google&nbsp;dropping the supplier of artificial intelligence chips by 2027.</li>
<li>Meanwhile,&nbsp;Marvell Technology Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mrvl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MRVL</a>) stock started gaining amid reports of Google working since 2022 to replace Broadcom with chipmaker Marvell for an advanced chip internally code-named Granite Redux.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/23/09/34778555/nio-races-past-tesla-with-900-smartphone-launch-to-turbocharge-ev-rivalry" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nio Races Past Tesla With $900 Smartphone Launch To Turbocharge EV Rivalry</a>
<ul>
<li>Nio Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) has entered the smartphone arena to set itself apart from competitors in China&#39;s fiercely competitive electric vehicle market.</li>
<li>Nio&#39;s CEO,&nbsp;William Li, introduced the&nbsp;Nio Phone&nbsp;in Shanghai, China&#39;s commercial hub, unveiling its unique features, such as the ability to control multiple cars with a single device and unlock a car even when switched off.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34787210/toshiba-confirms-14b-jip-takeover-success-set-to-go-private" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toshiba Confirms $14B JIP Takeover Success, Set To Go Private</a>
<ul>
<li>Toshiba Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tosbf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TOSBF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tosyy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TOSYY</a>) announces that the $14 billion tender offer from Japan Industrial Partners (JIP) succeeded, allowing the troubled conglomerate to go private.</li>
<li>The Tender Offer has been successfully completed since the total number of shares tendered, which amounted to 340.46 million shares, exceeded the minimum required.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34785078/unilever-ropes-in-morgan-stanley-to-launch-bid-for-sale-of-its-non-core-beauty-brands-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Unilever Ropes In Morgan Stanley To Launch Bid For Sale Of Its Non-Core Beauty Brands</a>
<ul>
<li>Unilever plc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ul#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UL</a>) has reportedly roped in investment banks&nbsp;Morgan Stanley&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ms#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MS</a>) and&nbsp;Evercore Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/evr#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EVR</a>) to sell some of its non-core beauty and personal care brands.</li>
<li>The brands under consideration also include Q-Tips and Impulse, which the company had previously considered for dilution two years ago.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34786012/ubs-slashes-70-of-credit-suisses-hk-research-staff-post-integration-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UBS Slashes 70% Of Credit Suisse&#39;s HK Research Staff Post-Integration</a>
<ul>
<li>UBS Group AG&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ubs#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UBS</a>) has reportedly terminated around 70% of the Hong Kong-based staff headcount at&nbsp;Credit Suisse&#39;s&nbsp;securities research unit soon after the two Swiss banking giants moved ahead with the integration of operations.</li>
<li>More than 15 equity researchers were informed earlier this week about the dismissals in Hong Kong.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/09/34789740/vinfast-aims-to-ship-evs-to-europe-by-2023-end-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VinFast Aims To Ship EVs To Europe By 2023 End</a>
<ul>
<li>Vietnamese electric vehicle manufacturer&nbsp;VinFast Auto Ltd&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/vfs#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VFS</a>) reportedly plans to ship its first batch of EVs to Europe this year after regulatory approval.</li>
<li>The company intends to ship about 3,000 of its VF8 crossovers to France, Germany, and the Netherlands in the fourth quarter.</li>
</ul>
&nbsp;
CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/34785041/breakthrough-in-hollywood-writers-and-producers-close-to-ending-100-day-strike" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Breakthrough In Hollywood: Writers, Producers Close To Ending 100-Day Strike</a>
<ul>
<li>Paramount Global&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/para#NASDAQ">PARA</a>) and&nbsp;Warner Bros. Discovery Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/wbd#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">WBD</a>) stocks are trading higher Thursday amid reports of Hollywood writers and producers nearing a deal to end the strike.</li>
<li>Negotiations to end the Writers Guild of America (WGA) strike have advanced significantly, with writers and producers meeting face-to-face on Wednesday.&nbsp;</li>
<li>The two sides are near an agreement and aim to finalize a deal by Thursday.</li>
</ul>
&nbsp;
Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/34783161/instacart-and-arms-stock-decline-sparks-concerns-over-tech-sector-ipos" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Instacart and Arm&#39;s Stock Decline Sparks Concerns Over Tech Sector IPOs</a>
<ul>
<li>Investors in recently listed tech companies&nbsp;Arm Holdings Plc&nbsp;</li>
<li>(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/arm#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ARM</a>) and&nbsp;Instacart&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cart#NASDAQ">CART</a>) are expressing concerns as both stocks have seen significant declines from their initial highs.&nbsp;</li>
<li>This development raises questions about the environment for new IPOs in the tech sector.</li>
<li>Arm CEO&nbsp;Rene Haas&nbsp;also acknowledged&nbsp;that Arm&#39;s growth in China primarily revolves around data centers and the automotive sector.</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/09/34785167/transparency-concerns-arise-as-doj-limits-access-to-key-google-antitrust-evidence" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Transparency Concerns Arise as DOJ Limits Access to Key Google Antitrust Evidence</a>
<ul>
<li>The U.S. Department of Justice (DOJ) has made a contentious move by removing public access to crucial evidence in its antitrust lawsuit against&nbsp;Alphabet Inc&nbsp;NASDAQ: GOOG) (NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>)&nbsp;Google.</li>
<li>This decision has raised concerns about transparency in the landmark case.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/09/34791439/ev-competition-kia-motors-launches-its-cheapest-ev-in-south-korea" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EV Competition: Kia Motors Launches Its Cheapest EV In South Korea</a>
<ul>
<li>Hyundai Motor Company&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) owned&nbsp;Kia Corp&nbsp;has launched its cheapest electric vehicle in South Korea, the Ray, which can seat only one person.</li>
<li>The least expensive battery-powered light passenger vehicle of the company has a starting price of about $20,000.</li>
</ul>
&nbsp;
Earnings
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/09/34782454/homebuilder-kb-homes-q3-earnings-beat-14-topline-decline-lower-average-selling-price-more" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Homebuilder KB Home&#39;s Q3: Earnings Beat, 14% Topline Decline, Lower Average Selling Price &amp; More</a>
<ul>
<li>KB Home&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/kbh#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">KBH</a>) reported a third-quarter FY23 sales decline of 13.9% year-on-year to $1.59 billion, beating the analyst consensus of $1.48 billion.</li>
<li>Homes delivered in the quarter decreased 7% to 3,375, and the average selling price fell 8.3% to $466,300.</li>
<li>KB Homes sees FY23 housing revenue of $6.31 billion, up from the prior view of $5.80 billion-$6.20 billion.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/09/34790744/darden-restaurants-q1-earnings-beat-affirmed-fy24-outlook-new-board-chair-more" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Darden Restaurants Q1: Earnings Beat, Affirmed FY24 Outlook, New Board Chair &amp; More</a>
<ul>
<li>Darden Restaurants Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/dri#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">DRI</a>) reported first-quarter FY24 sales growth of 11.6% year-on-year to $2.73 billion, beating the analyst consensus estimate of $2.71 billion.</li>
<li>The sales growth was driven by a blended same-restaurant sales increase of 5.0% and sales from the addition of 77 company-owned Ruth&#39;s Chris Steak House restaurants and 46 other net new restaurants.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/09/34789195/factset-research-q4-marginal-revenue-beat-misses-on-bottomline-dull-fy24-outlook-more" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FactSet Research Q4: Marginal Revenue Beat, Misses On Bottomline, Dull FY24 Outlook &amp; More</a>
<ul>
<li>FactSet Research Systems Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/fds#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FDS</a>) reported fourth-quarter FY23 sales growth of 7.3% year-on-year to $535.797 million, marginally beating the consensus of $535.280 million.&nbsp;</li>
<li>FactSet is providing its outlook for fiscal 2024. The company sees FY24 Adjusted EPS of 15.65-$16.15. The Street view stands at $16.65.</li>
</ul>

Weekly Jobless Claims Unexpectedly Fal, Google Ditches Broadcom In Favor of Marvell Chips, Hollywood Strike Might End: Today's Top Stories

Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) announces that the $14 billion tender offer from Japan Industrial Partners (JIP)&nbsp;<a class="editor-rtfLink" href="https://www.global.toshiba/ww/ir/corporate.html" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">succeeded</a>, allowing the troubled conglomerate to go private.
The Tender Offer has been successfully completed since the total number of shares tendered, which amounted to 340.46 million shares, exceeded the minimum required.
Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32775809/toshiba-board-urges-shareholders-to-approve-14b-takeover-report" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Toshiba Board Urges Shareholders To Approve $14B Takeover: Report</a>
In March, Toshiba agreed to a buyout offer that assessed the worth of the industrial conglomerate at 2 trillion yen (~$13.5 billion). While certain shareholders expressed dissatisfaction with the price, Toshiba contended that there were no indications of a better offer or competing bid in sight,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/jip-gains-7865-stake-toshiba-through-tender-offer-2023-09-20/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported Reuters</a>.
Toshiba is set for delisting from the stock exchange as early as December.
The company expressed its deep gratitude to numerous shareholders for their understanding of the company&#39;s situation in this regard. With new ownership, Toshiba Group is poised to take a significant step towards a new future.
Price Action:&nbsp;TOSYY shares closed lower by 0.06% at $15.44 on Wednesday.

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Toshiba Confirms $14B JIP Takeover Success, Set To Go Private

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/07/33243116/us-tech-embargo-has-pushed-beijing-for-self-sufficiency-drives-local-chip-equipment-firms-to-double" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Tech Embargo Has Pushed Beijing for Self-Sufficiency, Drives Local Chip Equipment Firms to Double Profits</a>
<ul>
<li>Chinese chip equipment makers&nbsp;Advanced Micro-Fabrication Equipment Inc&nbsp;and&nbsp;Naura Technology Group Co&nbsp;expect a doubling in profits after the U.S. tech embargo forced manufacturers to seek domestic alternatives.</li>
<li>Advanced Micro-Fab said net income for the first half likely grew 110% - 120%. Naura reported on Friday a 121% - 156% growth in profit to as much as 1.93 billion yuan ($270 million) during the same period.</li>
<li>Chinese chipmaking gear leaders, much smaller than&nbsp;Applied Materials Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/amat#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMAT</a>) or&nbsp;Lam Research Corp&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/lrcx#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">LRCX</a>), are amid initiatives to replace equipment involving American components or technology.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33246851/blackrock-plans-to-add-proxy-voting-choice-to-its-largest-etf" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BlackRock Plans To Add Proxy Voting Choice To Its Largest ETF</a>
<ul>
<li>BlackRock Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) plans to expand its Voting Choice program to its largest ETF &ndash; the iShares Core S&amp;P 500 ETF (IVV) with $305 billion in assets under management (AUM), subject to iShares Board approval.</li>
<li>Over three million IVV shareholder accounts and more than half of BlackRock&#39;s index equity AUM will be able to participate in Voting Choice.</li>
<li>This proposed expansion of BlackRock Voting Choice is expected to be in effect for the 2024 proxy voting season.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/07/33244461/whats-going-on-with-alibaba-stock-monday" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Alibaba Shares Are Down After China&#39;s Q2 GDP Misses Consensus</a>
<ul>
<li>Alibaba Group Holding Limited&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) stock is trading lower Monday as China&#39;s second-quarter GDP missed the consensus estimates.</li>
<li>China&#39;s GDP rose 6.3% year-over-year in Q2, trailing the 7.3% growth estimated by economists. The GDP grew by 4.5% in Q1.</li>
<li>The industrial output growth revved from 3% in the first quarter to 3.8% in the year&#39;s first half.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/07/33247076/whats-going-on-with-ford-stock" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Ford Motor Announces Price Cuts For F-150 Lightning Truck</a>
<ul>
<li>Ford Motor Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) shares are trading lower. The company on Monday announced price cuts for its F-150 Lightning truck.</li>
<li>Ford said it cut prices on the F-150 Lightning due to increased plant capacity, continued work on scaling production, and improved raw material costs for batteries.</li>
<li>Ford cut prices on its least expensive model by $9,979. Several other trim packages were cut between $8,479 and $9,479, and its most expensive platinum trim model was cut by just over $6,000.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33245692/virgin-galactic-reveals-crew-of-first-private-astronaut-mission-galactic-02" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Virgin Galactic Reveals Crew Of First Private Astronaut Mission&#39; Galactic 02&#39;</a>
<ul>
<li>Virgin Galactic Holdings Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spce#NYSE">SPCE</a>) has announced the crew of its seventh spaceflight and second commercial spaceflight, &#39;Galactic 02.&#39;</li>
<li>Galactic 02 will fly three private passengers to space.</li>
<li>VSS Unity will carry 80-year-old Jon Goodwin, Olympian, and early Virgin Galactic ticket holder.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/23/07/33244273/rocket-lab-plans-to-launch-mix-of-nasa-and-commercial-satellites" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Rocket Lab Plans To Launch Mix Of NASA And Commercial Satellites</a>
<ul>
<li>Rocket Lab USA Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rklb#NASDAQ">RKLB</a>) is preparing to launch a mix of satellites for NASA and commercial satellite constellation operators in a mission called &quot;Baby Come Back.&quot;</li>
<li>The mission is scheduled for lift-off between 11:30&ndash;13:30 NZST on July 18. Baby Come Back will be Rocket Lab&#39;s seventh Electron launch of 2023, the 39th Electron launch overall, and the company&#39;s second recovery mission this year.&nbsp;</li>
<li>The mission will launch seven satellites to a sun-synchronous orbit for three customers: NASA, Space Flight Laboratory, and Spire Global.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/07/33243718/acumen-pharmas-stock-doubles-in-one-session-heres-why" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Acumen Pharma&#39;s Experimental Alzheimer&#39;s Drug Passes Early Safety Test, Shares Double</a>
<ul>
<li>Acumen Pharmaceuticals Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abos#NASDAQ">ABOS</a>) presented topline results from the Phase 1 INTERCEPT-AD trial of ACU193, the first clinical-stage amyloid beta oligomers (A&beta;O) targeting antibody therapy in early AD, at the Alzheimer&#39;s Association International Conference (AAIC) 2023.</li>
<li>Topline results demonstrated that ACU193 was generally well-tolerated, meeting the primary objective of the Phase 1 study in both single and multiple doses in 60 participants with early AD.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/gaming/23/07/33241929/call-of-duty-stays-in-playstation-arsenal-as-sony-microsoft-reportedly-strike-10-year-deal" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">&#39;Call of Duty&#39; Stays In PlayStation Arsenal As Sony, Microsoft Reportedly Strike 10-Year Deal</a>
<ul>
<li>Sony Group Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sony#NYSE">SONY</a>) and&nbsp;Microsoft Corporation&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) have reportedly reached a 10-year agreement to keep &quot;Call of Duty&quot; games on&nbsp;PlayStation&nbsp;consoles after the U.S. software giant completes its takeover of&nbsp;Activision Blizzard&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atvi#NASDAQ">ATVI</a>).</li>
<li>&quot;We are pleased to announce that Microsoft and PlayStation have signed a binding agreement to keep Call of Duty on PlayStation following the acquisition of Activision Blizzard,&quot; Microsoft Gaming CEO&nbsp;Phil Spencer&nbsp;said on Twitter on Sunday.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33244517/proximus-buys-majority-stake-in-indias-route-mobile-for-eur643m" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Proximus Buys Majority Stake In India&#39;s Route Mobile For EUR643M</a>
<ul>
<li>Proximus SA&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/bgaof#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BGAOF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/bgaoy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BGAOY</a>) inked a deal to acquire a 58% stake in Route Mobile for INR 59.224 billion (around EUR 643.0 million) through its subsidiary, Proximus Opal.&nbsp;</li>
<li>Route Mobile specializes in offering CPaaS services in India, with a market capitalization of EUR1.1 billion.&nbsp;</li>
<li>With this deal, Proximus boosted a significant presence in the CPaaS and DI market, with combined annual revenue of around EUR 900 million for Route Mobile and Telesign.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33245455/entain-buys-angstrom-sports-boosting-betmgms-us-sports-betting-offering" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Entain Buys Angstrom Sports, Boosting BetMGM&#39;s US Sports Betting Offering</a>
<ul>
<li>Entain PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/gmvhf#OTC">GMVHF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gmvhy#OTC">GMVHY</a>) plans to acquire Angstrom Sports for a total consideration of &pound;81 million plus contingent payments totaling a maximum of &pound;122 million, payable over three years.</li>
<li>Angstrom Sports offers sports modeling, forecasting, and data analytics across sports betting products and markets in the U.S.</li>
<li>The acquisition is expected to boost Entain&#39;s position, having a comprehensive suite of analytics, risk, and pricing capabilities for U.S. Sports betting products.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33243590/h-m-forays-into-brazilian-market-boosting-latin-american-presence" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">H&amp;M Forays Into Brazilian Market, Boosting Latin American Presence</a>
<ul>
<li>Hennes &amp; Mauritz AB&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hnnmy#OTC">HNNMY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hmrzf#OTC">HMRZF</a>) disclosed launching its online and offline stores in Brazil by 2025.</li>
<li>The fashion retailer aims to expand its presence in Latin America by initially entering major cities in Southeast Brazil and partnering with Dorben Group.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33245528/american-jetblue-begin-steps-to-cease-the-northeast-alliance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">American, JetBlue Begin Steps To Cease The Northeast Alliance</a>
<ul>
<li>American Airlines Group Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/aal#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAL</a>) and&nbsp;JetBlue Airways Corp&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/jblu#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">JBLU</a>) have initiated the process of dissolving the pro-competitive, pro-consumer Northeast Alliance.</li>
<li>They collaborated to stay competitive in the heavily trafficked U.S. Northeast during the COVID-19 pandemic-induced economic uncertainty.</li>
<li>The collaboration was called the Northeast Alliance, allowing the two airlines to share bookings, routes, and passengers.</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/07/33240937/united-airlines-pilots-reach-labor-agreement-with-up-to-40-raise" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">United Airlines Pilots Reach Labor Agreement With Up To 40% Raise</a>
<ul>
<li>United Airlines Holdings Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) and its pilots have reached a labor agreement with a substantial pay raise.</li>
<li>According to the new four-year agreement, the pilots will get a cumulative 34.5% to 40.2% increase in pay raises, Reuters reported.&nbsp;</li>
<li>Due to a shortage of pilots in the industry, United pilots gained increased negotiation leverage. Despite high inflation, consumers have continued to spend on travel, exacerbating the issue.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/07/33244249/moonlakes-potential-sale-stock-price-up-fivefold-since-public-debut-in-2022" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MoonLake&#39;s Potential Sale: Stock Price Up Fivefold Since Public Debut In 2022</a>
<ul>
<li>MoonLake Immunotherapeutics&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mltx#NASDAQ">MLTX</a>) has reportedly engaged an investment bank as the Swiss company looks for a potential sale.</li>
<li>The company focuses on developing antibody-derived treatments for inflammatory skin conditions.</li>
<li>The is in preliminary talks with pharmaceutical companies interested in a potential acquisition. Citing the sources, Reuters emphasized that a deal isn&#39;t guaranteed and wished to remain anonymous.&nbsp;</li>
</ul>
&nbsp;
Nikkei&nbsp;
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33245589/toshiba-plans-to-build-supply-chain-for-offshore-wind-turbines-in-japan-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toshiba Plans To Build Supply Chain For Offshore Wind Turbines In Japan</a>
<ul>
<li>Japan&#39;s&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) reportedly plans to establish a supply chain for offshore wind power equipment in the country with U.S. manufacturer&nbsp;General Electric Company&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ge#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GE</a>).</li>
<li>The partners will develop components for production, soliciting smaller companies in Japan&#39;s northwest (including Akita and Niigata prefectures) that have conditions suited for offshore wind power.</li>
<li>Orders for a project in Akita prefecture are due to start as early as 2028.</li>
</ul>
Photo via Wikimedia Commons

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Ford Motor Cuts Prices For F-150 Lightning Truck, Microsoft-Sony Sign Agreement for 'Call of Duty,' Alibaba Stock Slips on China's Q2 GDP Sentiment: Today's Top Stories

Japan&#39;s&nbsp;Toshiba Corp.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) reportedly plans to establish a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32964374/ge-aerospace-hindustan-aeronautics-ink-mou-to-make-jet-engines-for-indian-air-force" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">supply chain for offshore wind power</a>&nbsp;equipment in the country with U.S. manufacturer&nbsp;General Electric Company&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ge#NYSE">GE</a>).
The partners will develop components for production, soliciting smaller companies in Japan&#39;s northwest (including Akita and Niigata prefectures) that have conditions suited for offshore wind power, Nikkei&nbsp;<a class="editor-rtfLink" href="https://asia.nikkei.com/Business/Energy/Toshiba-builds-Japanese-supply-chain-for-offshore-wind-turbines" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported</a>.
Orders for a project in Akita prefecture are due to start as early as 2028, the report noted.&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32919430/general-electric-to-quit-gas-turbine-services-in-russia-report" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">General Electric To Quit Gas Turbine Services In Russia: Report</a>
Toshiba is targeting 2026 for domestic production of wind turbines, bringing together a supply chain for nacelles, Nikkei added. A nacelle is a streamlined container for aircraft parts (engines, fuel, equipment, among others).
Nikkei added that companies competent in delivering nacelle components will be appointed, with procurement to start in fiscal 2025.
Toshiba expects to coordinate with about 100 smaller suppliers, the report read.&nbsp;
Price Action:&nbsp;GE shares are trading lower by 0.02% to $110.26 in the premarket session on the last check Monday.

Toshiba Plans To Build Supply Chain For Offshore Wind Turbines In Japan: Report

HSBC Holdings, Plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsbc#NYSE">HSBC</a>) looks to test an advanced&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/03/26138073/banks-fear-swift-will-be-next-russian-cyberattack-target" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">data-security system</a>&nbsp;run by U.K. telecom giant&nbsp;BT Group Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/btgof#OTC">BTGOF</a>),&nbsp;Amazon.com Inc&rsquo;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) AWS cloud and Japan&rsquo;s&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>).
The quantum essential distribution type of cyber defense could mark an important part of the defense strategy for companies like HSBC, helping help protect trillions of dollars of transactions from increasingly sophisticated hackers, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-07-04/hsbc-tests-quantum-tech-in-london-to-guard-against-future-hacks?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reports</a>.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/33003252/hsbc-will-exit-canary-wharf-set-up-new-hq-in-an-effort-to-reduce-real-estate-costs" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HSBC Will Exit Canary Wharf, Set Up New HQ In An Effort To Reduce Real Estate Costs</a>
&ldquo;As technology develops and current methods begin to be defeated, we have to make sure we have the most up-to-date robust encryption and security standards,&rdquo; HSBC CEO for Europe Colin Bell said in an interview.
Participating in the trial involves the bank installing equipment to send test data 62 kilometers (38.5 miles) between its headquarters in London&rsquo;s Canary Wharf financial district and a data center in the neighboring county Berkshire.&nbsp;
HSBC said the trial would help it better analyze threats and determine how to protect data.
Quantum key distribution allows two remote parties to agree on a shared secret key to encrypt and decrypt data.&nbsp;
In 2022,&nbsp;JP Morgan Chase &amp; Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) acknowledged demonstrating the ability of the newly developed QKD network to instantly detect and defend against eavesdroppers as part of a system also involving Toshiba.
Price Action:&nbsp;HSBC shares traded lower by 0.75% at $39.65 premarket on the last check Wednesday.

AMZN

BTGOF

HSBC

HSBC Turns to Quantum Essential Distribution for Enhanced Data Security, Explores New Cyber Defense Strategies

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32773072/balancing-profitability-and-entertainment-amazon-considers-launching-ad-supported-prime-video-tier" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Balancing Profitability and Entertainment: Amazon Considers Launching Ad-Supported Prime Video Tier</a>
<ul>
<li>Amazon.Com Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) looks to launch an advertising-supported Prime Video streaming service tier to build its ad business further and generate more entertainment revenue.</li>
<li>Advertising has been an area of continued growth for Amazon, growing by 21% year over year to $9.5 billion in the first quarter.</li>
<li>Advertisers expressed interest in Amazon offering an ad tier for Prime Video service, likely to inspire other streaming platforms, including&nbsp;Netflix Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) and&nbsp;Walt Disney Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>).</li>
<li>Specifically, ad buyers claimed more access to premium movies and programs that have mainly remained ad-free.</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32775746/dilemma-of-ad-transparency-google-and-microsoft-face-backlash-for-ad-inclusion-in-ai-trials" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Dilemma of Ad Transparency: Google and Microsoft Face Backlash for Ad Inclusion in AI Trials</a>
<ul>
<li>Alphabet Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>)&nbsp;Google&nbsp;and&nbsp;Microsoft Corp&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) inserting of ads into AI trials without any opt-out option has irked some brands.</li>
<li>Microsoft is testing ads in the Bing AI chatbot by migrating some traditional search ads and inserting them into the AI responses.</li>
<li>Both companies are in the early stages of testing ads in generative AI features in their race to revamp their search engines with AI capable of written responses to open-ended queries.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32774599/blackrock-seeks-7b-for-new-global-renewable-power-fund-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BlackRock Seeks $7B For New Global Renewable Power Fund</a>
<ul>
<li>BlackRock Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) plans to raise up to $7 billion for its fourth Global Renewable Power Fund.</li>
<li>The fund, which focuses on projects in Organisation for Economic Co-operation and Development nations, might invest in wind and solar power and other green technology like batteries and grid infrastructure.</li>
<li>The U.S. and the European Union introduced significant financial backing for clean energy to help curb carbon emissions in the fight against global warming, which has fueled the movement.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32775809/toshiba-board-urges-shareholders-to-approve-14b-takeover-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toshiba Board Urges Shareholders To Approve $14B Takeover</a>
<ul>
<li>Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) board reportedly recommends shareholders take up a tender offer from a group led by Japan Industrial Partners.</li>
<li>The $14 billion buyout will take the Japanese conglomerate private. The tender offer is expected to launch in late July.</li>
<li>In light of unfavorable circumstances, such as the sluggish leveraged loan market and increased interest rates, the board concluded on Thursday that the price was &quot;fair and reasonable,&quot; with no prospects of a better offer or rival bid.</li>
</ul>
&nbsp;
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32775465/airbus-records-34-growth-in-may-deliveries" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Airbus Records 34% Growth In May Deliveries</a>
<ul>
<li>Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>) delivered 63 airplanes to 36 customers in May, up 34% year-over-year. The total number of deliveries this year totaled 244 airplanes to 70 customers. For May 2023, gross orders were 17.</li>
<li>The company has recently received a firm order for 43 helicopters from business aviation operator Air Corporate in Italy.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/06/32776205/fda-signals-support-for-eisai-biogen-alzheimers-drug-data-confirms-benefits-for-complete-approval" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FDA Signals Support for Eisai-Biogen Alzheimer&#39;s Drug Data Confirms Benefits For Complete Approval</a>
<ul>
<li>FDA Peripheral and Central Drugs Advisory Committee is meeting Friday (June 9) to discuss a supplemental marketing application for Leqembi (lecanemab) submitted by&nbsp;Eisai Co Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/esaly#OTC">ESALY</a>) for Alzheimer&#39;s disease, initiated in patients with mild cognitive impairment or mild dementia stage of the disease.</li>
<li>Wednesday, the FDA released briefing documents ahead of the meeting that appears to support a full FDA approval for Leqembi.</li>
<li>In the study, Leqembi was tested against a placebo in patients with mild cognitive impairment due to Alzheimer&#39;s or mild Alzheimer&#39;s dementia.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/23/06/32775143/novartis-sandoz-foresees-rapid-growth-post-spin-off-in-generics-market-amid-upcoming-patent-expira" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Novartis&#39; Sandoz Foresees Rapid Growth Post-Spin-Off in Generics Market Amid Upcoming Patent Expirations</a>
<ul>
<li>Novartis AG&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvs#NYSE">NVS</a>) generics unit Sandoz tells investors it can add $3 billion in annual sales over the next five years from launching new products after it spins out of its parent company later this year.</li>
<li>Sandoz says the biosimilar pipeline has trebled in size over recent years, with 24 products, on top of a core generic pipeline of more than 400 products.</li>
<li>Novartis confirmed it expected Sandoz to generate mid-single-digit net sales growth this year and anticipated that the growth rate would remain in this range between 2024 - 2028.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32773742/blackrock-boosts-global-credit-business-with-kreos-capital-buyout" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BlackRock Boosts Global Credit Business With Kreos Capital Buyout</a>
<ul>
<li>BlackRock Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) announced a deal to acquire&nbsp;Kreos Capital&nbsp;for undisclosed terms.</li>
<li>Kreos offers growth and venture debt financing to companies in the technology and healthcare industries.</li>
<li>Kreos is headquartered in London, and its 45-person team will join BlackRock as part of the transaction.</li>
<li>The acquisition will complement BlackRock&#39;s Global Credit business and enhance its position as a global credit asset manager.</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32773385/amid-industry-trend-microsoft-markets-times-square-offices-for-sublease" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amid Industry Trend, Microsoft Markets Times Square Offices for Sublease</a>
<ul>
<li>Microsoft Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) prepared to sublease offices in Manhattan&#39;s Times Square as peers pared back real estate.</li>
<li>The tech firm is marketing over 42,000 square feet (3,900 square meters) of offices at 11 Times Square.</li>
<li>Microsoft, which has been downsizing its workforce, reduced its real estate presence, including abandoning plans for a new office complex in London.</li>
</ul>
&nbsp;
Techcrunch
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32773833/uber-launches-peer-to-peer-car-sharing-in-north-america-marking-sustainability-efforts" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Uber Launches Peer-to-Peer Car Sharing in North America, Marking Sustainability Efforts</a>
<ul>
<li>Uber Technologies Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uber#NASDAQ">UBER</a>) disclosed plans to bring peer-to-peer car sharing to North America, starting with Toronto and Boston, at its Go-Get product event in London Thursday.&nbsp;</li>
<li>It marks the company&#39;s sustainability move and part of its effort to curb emissions&mdash; goals it repeatedly mentioned during the event.</li>
<li>Customers in Uber Carshare cities can use the app to browse and reserve vehicles, which will be available for rent by the hour or the day.&nbsp;</li>
</ul>
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Amazon Considers Launching Ad-Supported Prime Video Tier, Google & Microsoft Face Backlash For Ad Inclusion In AI Trials, Airbus Records One-Third Jump In May Deliveries: Today's Top Stories

Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) board reportedly recommends shareholders take up a tender offer from a group led by Japan Industrial Partners.
The $14 billion buyout will take the Japanese conglomerate private. The tender offer is expected to launch in late July.
In March, Toshiba accepted a buyout offer from the group. The bidding group led by Japanese fund Japan Industrial Partners (JIP) Inc&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/23/02/31085897/toshibas-15b-buyout-deal-in-trouble-foreign-investors-might-drop" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">includes domestic firms</a>.
In light of unfavorable circumstances, such as the sluggish leveraged loan market and increased interest rates, the board concluded on Thursday that the price was &quot;fair and reasonable,&quot; with no prospects of a better offer or rival bid,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/toshiba-board-recommends-shareholders-support-tender-offer-by-jip-led-consortium-2023-06-08/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported Reuters</a>.
The industrial conglomerate&#39;s value was put at 2 trillion yen ($14.31 billion) by the takeover bid, which the board felt that the offer price of 4,620 yen per share was too low to encourage shareholders to submit their shares, added the report.
Further, the report noted Toshiba believes the buyout would help build &quot;a stable management base to implement a consistent business strategy to reform and grow the company over the medium to long term.&quot;
Price Action:&nbsp;TOSYY shares closed lower by 0.62% at $16.10 on Wednesday.

Toshiba Board Urges Shareholders To Approve $14B Takeover: Report

<ul>
<li>The $15 billion buyout of&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) may end up purely as a Japanese deal, as most foreign buyers may opt-out.</li>
<li>Talks to bring&nbsp;Blackstone Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bx#NYSE">BX</a>),&nbsp;BPEA EQT, and&nbsp;CVC Capital Partners&nbsp;on as equity investors have stalled, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-02-28/toshiba-15-billion-deal-leaves-global-buyout-firms-on-sidelines?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported</a>&nbsp;citing people familiar with the matter.</li>
<li>The bidding group led by Japanese fund&nbsp;Japan Industrial Partners (JIP) Inc&nbsp;presently includes domestic firms.</li>
<li>Most recently, Japanese chipmaker&nbsp;Rohm Co Ltd&nbsp;announced its plans to join&nbsp;the Toshiba&nbsp;buyout proposal.</li>
<li>The chipmaker plans to contribute about&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29742961/chipmaker-rohm-plans-joining-jip-for-toshiba-takeover-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">&yen;300 billion</a>&nbsp;from the proposed &yen;2.2 trillion acquisition.</li>
<li>The report added that private equity investors are concerned about the deal&#39;s valuation, complexity, and political nature. The Japanese bidding consortium also wants to avoid triggering Chinese antitrust scrutiny by bringing in foreign investors.</li>
<li>The report points out the difficulty for Japanese stakeholders and overseas investors to align, especially where national security is a concern.</li>
<li>The Bloomberg report added that no final decisions had been made, and some funds could still find ways to back the deal, such as providing financing.</li>
<li>Earlier this month, Toshiba&nbsp;<a class="editor-rtfLink" href="https://www.global.toshiba/content/dam/toshiba/ww/ir/corporate/news/20230209_1.pdf" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">confirmed</a>&nbsp;receiving a proposal from the JIP Consortium.</li>
<li>Toshiba deal is valued at about &yen;2 trillion, including bank financing worth about &yen;1.4 trillion. The JIP-led group has been in talks for a further &yen;1 trillion of financing from around&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29382650/toshiba-bags-16b-valuation-in-takeover-bid" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">20 potential co-investors</a>.</li>
</ul>

Toshiba's $15B Buyout Deal In Trouble, Foreign Investors Might Drop

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29564469/musks-twitter-cost-cut-plot-could-impact-google-cloud-services-as-he-orders-to-cut-infra-costs-by-1b" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Musk&#39;s Twitter Cost Cut Plot Could Impact Google Cloud Services As He Orders To Cut Infra Costs By $1B</a>
<ul>
<li>Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) CEO Elon Musk has ordered Twitter Inc&#39;s teams to find up to $1 billion in annual infrastructure cost savings raising concerns that Twitter could go down during high-traffic events like the U.S. midterm elections.</li>
<li>Twitter must find between $1.5 million - $3 million a day in savings from servers and cloud services, Reuters reported citing Muck&#39;s Slack message, which referred to the project as the &quot;Deep Cuts Plan.&quot;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/11/29568309/vonage-bows-down-before-ftc-directive-to-pay-a-100m-penalty" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Vonage Bows Down Before FTC Directive; To Pay A $100M Penalty</a>
<ul>
<li>Communications firm Vonage agreed to pay $100 million to resolve a Federal Trade Commission (FTC) lawsuit.</li>
<li>FTC prosecuted Vonage for failing to provide a simple method for customers to cancel their telephone services and imposed &quot;junk fees,&quot; the agency said.</li>
<li>Vonage also agreed to offer clear disclosures about recurring charges and a simple method to stop recurring payments or avoid increased costs.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29567848/nissan-renault-talk-about-restructuring-their-ev-partnership" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nissan, Renault Talk About Restructuring Their EV Partnership</a>
<ul>
<li>Nissan Motor Co, Ltd&#39;s (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/nsanf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NSANF</a>) (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/nsany#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NSANY</a>) discussions with Renault SA (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/rnlsy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RNLSY</a>) (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/rnsdf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RNSDF</a>) on revamping their alliance focused on competitiveness as equal partners and getting value from their investment in electric cars.</li>
<li>Nissan CEO Makoto Uchida said the goal was to improve the automakers&#39; ability to compete during economic uncertainty and as the industry shifted to electric vehicles.</li>
<li>But, over the years, Nissan executives have had issues over the unequal ownership structure, with Renault owning 43% of Nissan and the Japanese automaker holding only a 15% non-voting stake in Renault.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/11/29565704/toshiba-buyouts-japan-industrial-partners-led-bidder-for-may-miss-deadline-to-secure-financing" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toshiba Buyout&#39;s Japan Industrial Partners-Led Bidder For May Miss Deadline To Secure Financing</a>
<ul>
<li>A consortium led by Japan Industrial Partners Inc might miss the November 7 deadline to secure financing for Toshiba Corp (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tosbf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TOSBF</a>) (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tosyy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TOSYY</a>) at a valuation of about &yen;2.4 trillion ($16.1 billion).</li>
<li>Four banks, including Sumitomo Mitsui Banking Corp, were considering whether to issue loans to the consortium. They have decided not to proceed before the cutoff date set by Toshiba, the people said. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/11/29566536/boeings-jeppesen-unit-sees-potential-ransomware-attack-causes-flight-planning-disruptions" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Boeing&#39;s Jeppesen Unit Sees Potential Ransomware Attack, Causes Flight Planning Disruptions</a>
<ul>
<li>Boeing Co&#39;s (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ba#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BA</a>) unit Jeppesen was impacted by a cyber incident affecting access to its flight planning software.</li>
<li>Jeppesen, a U.S.-based firm, provides analytical services to air carriers.</li>
<li>&quot;Our subsidiary, Jeppesen, experienced a cyber incident affecting certain flight planning products and services,&quot; Boeing spokesman Yukui Wang said in an email. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29564202/lyft-to-let-go-of-13-of-workforce-divest-vehicle-business-to-beat-slowdown" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Lyft To Let Go Of 13% Of Workforce, Divest Vehicle Business To Beat Slowdown</a>
<ul>
<li>Lyft Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/lyft#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">LYFT</a>)said it would cut 13% of staff, equivalent to 683 employees.</li>
<li>The ride-hailing company chose to downsize as it struggled to cope with a complex economic backdrop.</li>
<li>Lyft will also divest its first-party vehicle service business and expects the buyer will offer workers in that division positions.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/22/11/29564015/apple-lures-china-iphone-customers-with-deep-discounts-but-sales-stutter-amid-domes" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Lures China iPhone Customers With Deep Discounts But Sales Stutter Amid Domestic Weakness</a>
<ul>
<li>Apple Inc&#39;s (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) iPhone 14 sales in China are taking a hit as consumers tighten their purse strings amid economic uncertainties.</li>
<li>iPhone 14 sales in China, since its launch on Sept 7, have declined about 33% compared to the sales of iPhone 13 models in a comparable timeframe, Jefferies analyst Edison Lee said in a recent note. The high-end iPhone 14 models &mdash; Pro and Pro Max &mdash; have also seen a dip in sales, the analyst said.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/11/29563417/dogecoin-sinks-10-as-elon-musks-twitter-reportedly-suspends-work-on-crypto-wallet" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Dogecoin Sinks 10% As Elon Musk&#39;s Twitter Reportedly Suspends Work On Crypto Wallet</a>
<ul>
<li>Twitter is reportedly halting its plan to launch a cryptocurrency wallet, days after Elon Musk announced a plethora of changes since taking over the microblogging platform. The news appears to have significantly dented Dogecoin (DOGE/USD).</li>
<li>According to Platformer, a recently revealed plan to build a cryptocurrency wallet for Twitter appears to be on pause. As a result, DOGE tumbled 10.86% in the last 24 hours.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29564315/alibaba-comes-back-strong-against-us-sanctions-to-power-20-operations-by-in-house-cpus-by-2025" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Alibaba Comes Back Strong Against US Sanctions; To Power 20% Operations By In-House CPUs By 2025</a>
<ul>
<li>Alibaba Group Holding Limited (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/baba#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BABA</a>) plans to power 20% of its operations with its homebrew CPUs by 2025.</li>
<li>Alibaba showcased its Yitian 710 server-class CPU in 2021. In early 2022 the operation started trials of the devices and offered more info about their specs. </li>
<li>The features included 128 Armv9-compatible CPU cores, a clock speed of up to 3.2GHz, eight DDR5 channels, and 96 PCIe 5.0 lanes, all cooked up on a 5nm process.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/11/29564931/illuminas-q3-profits-hit-by-impairment-of-almost-4b-cuts-annual-guidance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Illumina&#39;s Q3 Profits Hit By Impairment Of Almost $4B, Cuts Annual Guidance</a>
<ul>
<li>Illumina Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ilmn#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ILMN</a>) posted Q2 revenue of $1.12 billion, up 1% Y/Y and up 3% on a constant currency basis, almost in line with the consensus.</li>
<li>Non-GAAP diluted earnings per share of $0.34 compared to $1.45 a year ago, beating the consensus of $0.30.</li>
<li>During the quarter, GAAP diluted loss per share of $(24.26) includes a goodwill impairment of $3.91 billion related to the GRAIL segment.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/11/29564732/amgen-reports-q3-higher-profit-despite-slight-fall-in-topline-growth" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amgen Reports Q3 Higher Profit, Despite Slight Fall In Topline Growth</a>
<ul>
<li>Amgen Inc&#39;s (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/amgn#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMGN</a>) Q3 revenue reached $6.65 billion, down 1% Y/Y, due to 8% volume growth offset primarily by a 5% lower net selling price and a 2% negative impact from foreign exchange. Analysts estimated sales of $6.56 billion.</li>
<li>The company reported Q3 adjusted EPS of $4.70, up 15%, beating the consensus of $4.44.</li>
<li>For FY22, Amgen narrowed its adjusted EPS outlook to $17.25-$17.85 on revenue of $26-$26.3 billion.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/11/29567808/hersheys-beat-on-q3-earnings-expects-sweetened-holiday-season-boosts-annual-guidance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Hershey&#39;s Beat On Q3 Earnings, Expects Sweetened Holiday Season, Boosts Annual Guidance</a>
<ul>
<li>Hershey Co (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/hsy#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HSY</a>) has reported Q3 sales of $2.73 billion, an increase of 15.6%, beating the consensus of $2.61 billion.</li>
<li>The company reported adjusted EPS of $2.17, beating the consensus of $2.10.</li>
<li>Hershey expects full-year 2022 net sales to grow between 14%-15%, compared to the previous forecast of 12% to 14% growth.</li>
</ul>

Biotech

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Musk Reportedly Suspends Twitter Work On Crypto Wallet, Boeing's Jeppesen Hit By Potential Ransomware Attack, Lyft Cuts Workforce: Top Stories Friday, Nov. 04

<ul>
<li>Last week, a consortium led by&nbsp;Japan Industrial Partners Inc&nbsp;(JIP) explored a takeover of&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) at a valuation of&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29382650/toshiba-bags-16b-valuation-in-takeover-bid" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">about &yen;2.4 trillion ($16.1 billion)</a>.</li>
<li>The deal could be Asia&rsquo;s biggest deal this year.</li>
<li>The consortium might miss the November 7 deadline to secure financing, Bloomberg reported&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-11-04/toshiba-s-preferred-bidder-is-said-set-to-miss-finance-deadline?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">citing</a>&nbsp;people familiar with the matter.</li>
<li>Four banks, including&nbsp;Sumitomo Mitsui Banking Corp, were considering whether to issue loans to the consortium. They have decided not to proceed before the cutoff date set by Toshiba, the people said.&nbsp;</li>
<li>One of the people said that the banks have not yet made a formal decision as the potential bidding groups have not finalized details, such as deciding on the lineup of their equity partners.</li>
<li>JIP&rsquo;s consortium is reportedly seeking about &yen;1.4 trillion from banks.</li>
<li>The group continues to work on the takeover proposal, the people said.</li>
<li>Leading rival group&nbsp;Japan Investment Corp&nbsp;(JIC) received approval to increase the fund side to &yen;900 billion from &yen;200 billion</li>
<li>The increase came after JIC informed METI it would need to contribute at least &yen;500 billion to a Toshiba takeover because of METI&rsquo;s requirement that the investor contributes a minimum of 50% of the equity in the bid.</li>
</ul>

Financing

Toshiba Buyout's Japan Industrial Partners-Led Bidder For May Miss Deadline To Secure Financing

<ul>
<li>A consortium led by Japan Industrial Partners Inc explored a takeover of&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) at a valuation of about 2.4 trillion yen ($16.1 billion).</li>
<li>The preferred bidder plans to provide 1 trillion yen in cash while seeking financing totaling 1.4 trillion yen from banks along with a committed line of credit of 200 billion yen in working capital,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-10-24/toshiba-said-to-be-valued-at-16-billion-by-jip-in-takeover-bid?srnd=technology-vp&amp;leadSource=uverify%20wall&amp;sref=TBDibEcD" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Bloomberg&nbsp;</a>reports.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/10/29248752/toshiba-shares-increase-on-reports-of-potential-19b-takeover-bid" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Toshiba Shares Gain On Reports Of Potential $19B Takeover Bid</a></li>
<li>In its regular meeting with banks, including Sumitomo Mitsui Banking Corp. on October 20, Toshiba informed them that JIP is valuating the company at around 2.4 trillion yen and&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/10/29232360/toshiba-picked-japan-industrial-partners-led-group-as-preferred-bidder" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">sought financing support</a>.</li>
<li>Shares of Toshiba have risen about 17% this year, giving the conglomerate a market value of approximately $15.7 billion.&nbsp;</li>
<li>The report specified that a bid at 2.4 trillion yen would be worth about 5,541 yen per share.</li>
<li>The consortium led by JIP and a rival group led by state-backed investment fund Japan Investment Corp will find it hard to meet a November 7 deadline to line up commitment letters.</li>
<li>Toshiba could still explore certain asset sales instead of a complete business sale.</li>
<li>The report added that JIP explored collaboration with domestic companies, including Orix Corp. and Chubu Electric Power Co, and global investment firms, such as Baring Private Equity Asia and CVC Capital Partners.</li>
<li>Investors, including Bain Capital and MBK Partners, have discussed involvement in JIC&rsquo;s rival bid group.</li>
<li>Price Action:&nbsp;TOSYY shares traded higher by 0.41% at $18.29 on the last check Monday.</li>
<li>Photo Via Company</li>
</ul>

Toshiba Bags $16B Valuation In Takeover Bid

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29229693/joe-biden-talks-tough-on-saudi-arabia-says-theres-going-to-be-some-consequences-for-what-theyve-done" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Joe Biden Says Saudi Arabia Will Face&#39; Consequences For What They&#39;ve Done With Russia&#39;</a>
<ul>
<li>President Joe Biden has reportedly said there would be &quot;consequences&quot; for Saudi Arabia for collaborating with Russia to trim oil production, indicating that cracks have appeared in the relationship between the two long-time allies.</li>
<li>In an interview broadcast on Tuesday night, Biden told CNN&#39;s Jake Tapper, &quot;there&#39;s going to be some consequences for what they&#39;ve done with Russia.&quot;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29230197/apple-samsung-smartphone-users-could-access-5g-by-december-via-software-upgrade" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple, Samsung Smartphone Users Could Access 5G By December Via Software Upgrade</a>
<ul>
<li>Apple Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) and Samsung Electronics Co Ltd (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ssnlf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SSNLF</a>) agreed to upgrade software for their 5G-enabled phones in India by December following a government push.</li>
<li>Apple looks to push software upgrades to recent models, including the iPhone 14, 13, 12, and iPhone SE, which do not yet support the network.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29230366/toyota-motor-opens-myanmar-plant-after-coup-induced-pause-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toyota Opens Myanmar Plant After Coup-Induced Pause</a>
<ul>
<li>Toyota Motor Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TM</a>) has started operations at a new plant in Myanmar after a hiatus following the military coup.</li>
<li>The Myanmar plant operations were paused for over nineteen months due to the coup and the coronavirus pandemic.</li>
<li>The automaker has started to assemble one to two Hilux trucks per day.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/10/29232360/toshiba-picked-japan-industrial-partners-led-group-as-preferred-bidder" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toshiba Picked Japan Industrial Partners Led Group As Preferred Bidder</a>
<ul>
<li>Toshiba Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) granted a Japan Industrial Partners Inc led consortium preferred bidder status for its buyout.</li>
<li>Private equity firm JIP looked to acquire Toshiba in partnership with multiple domestic companies, including Orix Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ix#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">IX</a>) and Chubu Electric Power (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/chuef#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CHUEF</a>).</li>
<li>Toshiba considered that a sale to JIP would keep the company as one entity.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29229398/intel-eyeing-big-job-cuts-as-early-as-this-month-to-navigate-through-tough-pc-market-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Intel Eyes Massive Job Cuts As Early As This Month To Sail Through PC Market Slump</a>
<ul>
<li>The PC slowdown is beginning to bite chipmakers. Intel Corporation (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/intl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">INTL</a>) is reportedly eyeing massive job cuts to tide over the current malaise.</li>
<li>Intel plans to announce a major headcount reduction, running into thousands, as early as this month. </li>
<li>The announcement could come around the release of the chipmaker&#39;s third-quarter results on Oct. 27. Divisions, including sales and marketing, will likely see about 20% of the jobs being eliminated.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/10/29231734/coal-miners-peabody-coronado-explore-merger-to-boost-production" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Coal Miners Peabody, Coronado Explore Merger To Boost Production</a>
<ul>
<li>Coronado Global Resources Inc (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/codql#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CODQL</a>) <a class="editor-rtfLink" href="https://clients3.weblink.com.au/pdf/CRN/02581080.pdf" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">confirmed </a>merger discussions with Peabody Energy Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/btu#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BTU</a>).</li>
<li>The merger could lead to a new global giant worth some $6 billion, depicting how the coal-price surge that followed Russia&#39;s invasion of Ukraine is transforming the sector&#39;s fortunes.</li>
<li>A tie-up with Coronado would boost Peabody&#39;s production of metallurgical coal.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29231287/us-judge-refuses-to-block-booz-allen-hamiltons-acquisition-of-rival-cybersecurity-company" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Judge Refuses To Block Booz Allen Hamilton&#39;s Acquisition Of Rival Cybersecurity Company</a>
<ul>
<li>A federal judge in Maryland declined to halt Booz Allen Hamilton Holding Corp&#39;s (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/bah#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BAH</a>) acquisition of a competing cybersecurity company EverWatch, scoring a victory against the Department of Justice.</li>
<li>Booz Allen in March moved to acquire EverWatch, a company it had been competing against to win a five-year contract to support the National Security Agency&#39;s mission of collecting foreign communications.</li>
<li>The DOJ prosecuted in June, alleging that the acquisition would drive up prices for the U.S. government and create a monopoly supplier for critical national-security services.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29232080/nike-lays-out-plan-to-prevent-bot-purchases-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nike Lays Out Plan To Prevent Bot Purchases</a>
<ul>
<li>Nike Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/nke#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NKE</a>) plans to cancel orders placed with automated ordering software or technology on its website or apps.</li>
<li>The sneaker maker intends to charge restocking fees, reject refunds, or suspend accounts if it determines the purchase is made for resale.</li>
<li>Also, orders exceeding purchase limits are likely to be rejected.</li>
</ul>

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29232788/us-health-official-says-updated-covid-19-boosters-should-offer-protection-amid-tracking-emerging-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Health Official Says Updated COVID-19 Boosters Should Offer Protection Amid Tracking Emerging Variants</a>
<ul>
<li>The U.S. health officials are tracking several coronavirus omicron subvariants that more easily evade immunity, rendering many treatments ineffective.</li>
<li>But the new booster shots should provide protection, said Dr. Ashish Jha, head of the White House Covid task force.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/22/10/29229800/after-metas-connect-2022-analyst-says-metaverse-vision-remains-distant-so-this-take" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Meta Analyst Says Quest Pro Uptake Likely To Be Slow Due to These 2 Reasons</a>
<ul>
<li>Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) held its Meta Connect 2022 on Tuesday, showing off its metaverse product slate, announcing additional partnerships, and releasing its next-gen Quest Pro headset.</li>
<li>Following the event, KeyBanc Capital Markets analyst Justin Patterson maintained an Overweight rating and a $196 price target for Meta shares.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/10/29231905/cameco-brookfield-renewable-come-together-to-buy-one-of-largest-nuclear-services-businesses" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Cameco, Brookfield Renewable Come Together To Buy One Of the Largest Nuclear Services Businesses</a>
<ul>
<li>A consortium of Cameco Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ccj#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CCJ</a>) and Brookfield Renewable Partners LP (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/bep#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BEP</a>), together with its institutional partners, has <a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/10/b29227426/cameco-and-brookfield-renewable-form-strategic-partnership-to-acquire-westinghouse-electric-compan" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">agreed to acquire</a> Westinghouse Electric Company from Brookfield Business Partners LP (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/bbu#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BBU</a>).</li>
<li>Brookfield Renewable will own a 51% stake in Westinghouse, and Cameco will own 49%.</li>
<li>The total enterprise <a class="editor-rtfLink" href="https://www.sec.gov/Archives/edgar/data/1009001/000119312522260824/d576470dex992.htm" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">value</a> of Westinghouse is $7.875 billion. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29230975/philips-warns-weaker-quarterly-sales-profit-hit-by-sleep-device-write-down" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Philips Warns Weaker Quarterly Sales, Profit Hit By Sleep Device Write-down</a>
<ul>
<li>Koninklijke Philips NV (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/phg#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PHG</a>) said it expects third-quarter group sales to <a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/10/tr29229359/philips-provides-update-on-its-financial-performance-in-q3-2022" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">be approximately &euro;4.3 billion</a> with a comparable sales decline of approximately 5%.</li>
<li>Due to the lower sales, Group Adjusted EBITA for the quarter is expected to be around &euro;210 million or around 5% of sales.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29231278/pepsico-posts-q3-earnings-above-street-view-raises-guidance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PepsiCo Boosts Annual Guidance Following Solid Q3 Beat</a>
<ul>
<li>PepsiCo Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>) reported third-quarter FY22 sales growth of 8.8% year-on-year to $21.97 billion, beating the consensus of $20.81 billion.</li>
<li>The gross profit increased 8% Y/Y to $11.7 billion, and the profit margin fell 40 basis points Y/Y to 53.1%.</li>
<li>The operating margin contracted 30 basis points to 15.3%, and operating income for the quarter climbed 6.1% to $3.4 billion.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29230275/mercedes-benz-partners-with-microsoft-to-enhance-car-production-efficiency" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Mercedes-Benz Connects Passenger Car Plants To Microsoft Cloud - What&#39;s The Benefit?</a>
<ul>
<li>Mercedes Benz Group ADR (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/mbgyy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MBGYY</a>) has partnered with Microsoft Corp (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/msft#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MSFT</a>) for efficient, resilient, and sustainable vehicle production.</li>
<li>Through the MO360 Data Platform, Mercedes-Benz will connect its 30-passenger car plants worldwide to the Microsoft Cloud.</li>
<li>The move is expected to enhance transparency and predictability across the luxury car maker&#39;s digital production and supply chain.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29232543/general-motors-invests-69m-in-australian-mining-company" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GM Invests $69M In Australian Mining Company - What&#39;s The Benefit?</a>
<ul>
<li>General Motors Co (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/gm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GM</a>) has invested in Queensland Pacific Metals of Australia to secure a new source of nickel and cobalt for Ultium battery cells.</li>
<li>As part of the agreement, GM is expected to invest up to $69 million in Queensland Pacific Metals to develop its proposed Townsville Energy Chemicals Hub (TECH) Project in Northern Australia.</li>
<li>The TECH Project is expected to begin construction in 2023.</li>
</ul>

Government

Commodities

CHUEF

CODQL

INTL

MERCEDES-BENZ UNSP / ADR by Mercedes Benz Group AG

MBGYY

Joe Biden Vows Consequences Against Saudi Arabia, Philips Warns Lower Sales & Profit, Intel Explores Substantial Job Cuts: Top Stories Wednesday, Oct. 12

<ul>
<li>Toshiba Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tosbf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TOSBF</a>) (TOSYY) granted a&nbsp;Japan Industrial Partners Inc&nbsp;led consortium preferred bidder status for a buyout of the iconic Japanese firm.</li>
<li>Private equity firm JIP looked to acquire Toshiba in partnership with multiple domestic companies, including&nbsp;Orix Corp&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ix#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">IX</a>) and&nbsp;Chubu Electric Power&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/chuef#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CHUEF</a>),&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-10-12/toshiba-chooses-jip-led-group-as-preferred-bidder-for-buyout?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg</a>&nbsp;reports.</li>
<li>Toshiba considered that a sale to JIP would keep the company as one entity.</li>
<li>Other bidders remain interested in the assets.</li>
<li>Toshiba sought strategic proposals for its future, including potential buyout bids. It had targeted second-round offers by the end of September.</li>
<li>State-backed investment fund Japan Investment Corp is leading a rival group to JIP, with other investors like Bain Capital and MBK Partners in talks to be involved in its bid.</li>
<li>JIP will likely have a month to negotiate with Toshiba.</li>
<li>Until June, potential buyers were ready to cough up 7,000 yen ($51.41) per share, valuing Toshiba at $22 billion, representing&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/06/27824129/bidders-for-toshiba-consider-offers-valuing-the-company-about-22b-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">a 27% premium</a>.</li>
<li>Toshiba faced an operational crisis since 2015 when it disclosed accounting malpractice.</li>
<li>Price Action:&nbsp;TOSYY shares traded at $17.40 in the premarket on the last check Wednesday.</li>
</ul>

Toshiba Picks Japan Industrial Partners Led Group As Preferred Bidder

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Benzinga Before The Bell: Roe vs Wade Ruling Effect, Airbnb's Ban on Parties, JetBlue's Modified Proposal And Other Top Financial Stories Tuesday, June 28

<ul>
<li>Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>)<a class="editor-rtfLink" href="https://www.global.toshiba/content/dam/toshiba/ww/ir/corporate/news/20220628_2.pdf" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;(</a>OTC: TOSYY)&nbsp;<a class="editor-rtfLink" href="https://www.global.toshiba/content/dam/toshiba/ww/ir/corporate/news/20220628_2.pdf" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported results from the shareholders&#39; meeting</a>, where members from activist hedge funds were elected to the board.</li>
<li>Elliott Management&#39;s Nabeel Bhanji and Farallon Capital Management&#39;s Eijiro Imai were elected as board members,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/toshiba-board-gains-two-directors-activist-hedge-funds-2022-06-28/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters reported</a>.</li>
<li>Akihiro Watanabe, an executive from investment bank Houlihan Lokey, becomes the board chairman.</li>
<li>The report added that external director Mariko Watahiki, who opposed the election of activist investors, resigned after the vote.</li>
<li>The inclusion assumes significance as the multinational corporation explores proposals for privatization.</li>
<li>Recently, Toshiba&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/06/27517512/toshiba-receives-eight-privatization-proposals" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">said it had received eight buyout proposals</a>&nbsp;to go private.</li>
<li>Price Action:&nbsp;TOSYY shares closed lower by 0.61% at $21.08 on Monday.</li>
<li>Photo Via Wikimedia Commons</li>
</ul>

Management

Toshiba Shareholders Vote Activist Investors To Board

<ul>
<li>Japanese multinational&nbsp;Toshiba Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>)&nbsp;<a class="editor-rtfLink" href="https://www.global.toshiba/content/dam/toshiba/ww/ir/corporate/news/20220602_1.pdf" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">has received eight proposals</a>&nbsp;for privatization and two to form capital alliances that would make it remain listed.</li>
<li>The company&rsquo;s board of directors and a special committee have previously sought proposals for strategic alternatives after the shareholders voted against a proposed restructuring plan.</li>
<li>The proposals received are not legally binding ones.</li>
<li>Toshiba said it would evaluate the proposals and call the selected ones for a final process after its annual shareholders meeting on June 28, 2022.</li>
<li>KKR &amp; Co. Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kkr#NYSE">KKR</a>),&nbsp;Blackstone Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bx#NYSE">BX</a>), Bain Capital,&nbsp;Brookfield Asset Management Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bam#NYSE">BAM</a>), MBK Partners, Apollo Global Management, and CVC Capital Partners were considering bids,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/toshiba-receives-10-initial-proposals-including-8-go-private-2022-06-02/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters reported</a>.</li>
<li>Price Action:&nbsp;PVH shares closed higher by 0.74% at $71.40 on Wednesday.</li>
<li>Photo Via Wikimedia Commons</li>
</ul>

Toshiba Gets Privatization Proposals - Guess How Many Are Interested

<ul>
<li>Carrier Global Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/carr#NYSE">CARR</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/02/n25442204/carrier-signs-agreement-to-acquire-toshibas-global-vrf-and-light-commercial-hvac-business" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">agreed to acquire&nbsp;</a>Toshiba Corp&#39;s&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>) 55% stake in Toshiba Carrier Corporation (TCC), a variable refrigerant flow (VRF) and light commercial HVAC joint venture. The enterprise value for 55% of TCC shares is around &yen;100 billion (~$870 million).</li>
<li>Toshiba Carrier was established in 1999, which Toshiba and Carrier own 60% and 40%, respectively.</li>
<li>The transaction will include all of TCC&#39;s advanced research &amp; development centers and global manufacturing operations, product pipeline, and the long-term use of Toshiba&#39;s iconic brand.</li>
<li>Related: <a href="https://www.benzinga.com/news/22/02/25443347/heres-how-toshiba-looks-to-restructure-itself">Here&#39;s How Toshiba Looks To Restructure Itself</a></li>
<li>This acquisition strengthens Carrier&#39;s position in one of the fastest-growing HVAC segments and scales its global VRF product platform.</li>
<li>Carrier Global held&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/10/n23693613/carrier-reports-third-quarter-2021-results" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">cash and cash equivalents of $2.67 billion</a>&nbsp;as of September 30, 2021.</li>
<li>The acquisition is expected to close by the end of Q3. Toshiba will retain a 5% ownership stake in TCC, and Carrier will consolidate over $2 billion in unconsolidated revenue.</li>
<li>Price Action:&nbsp;CARR shares closed lower by 0.87% at $45.84, and TOSBF lower by 1.47% at $41.50 on Friday.</li>
</ul>

CARR

Carrier Agrees To Acquire Toshiba's 55% Stake In TCC Joint Venture For ~$870M

Toshiba Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosyy#OTC">TOSYY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tosbf#OTC">TOSBF</a>)&nbsp;CEO Nobuaki Kurumatani has resigned from his position amid reports of a $20 billion buyout offer of the Japanese company by the private equity firm CVC Capital and a growing lack of internal support for his leadership.
What Happened: According to a Reuters <a href="https://www.reuters.com/article/us-toshiba-m-a/controversial-toshiba-ceo-steps-down-shares-jump-on-bidding-war-expectations-idUSKBN2C033M">report</a> that cited unnamed &quot;people familiar with the matter,&quot; Toshiba&#39;s board had planned the replacement due to growing dissatisfaction with his leadership.
Kurumatani, who was formerly a CVC president before taking the Toshiba leadership role three years ago, saw his support within the company erode. A Bloomberg <a href="https://www.bloomberg.com/news/articles/2021-04-14/toshiba-s-ceo-to-step-down-after-losing-employee-support">report</a> that also cited unnamed &quot;people familiar with the matter&quot; stated that an internal poll of Toshiba employees in January found less than 60% had confidence his Kurumatani, down from more than 90% last year, while more than 20% voiced a specific a lack of confidence in his leadership, up from less than 5% in the previous year.
What&#39;s Next: Toshiba Chairman Satoshi Tsunakawa will return to the CEO position he previously held on an interim basis.
CVC&#39;s buyout offer was made public on April 6. Another private equity firm, KKR &amp; Co.. is also reportedly exploring its own bid for Toshiba.
TOSSY closed 11.6% higher at $23.28 and TOSBF closed 10.9% up at $44.83 on Tuesday.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/21/04/20613196/chip-shortage-improving-gm-shortens-downtime-at-its-key-tennessee-plant">Chip Shortage Improving? GM Shortens Downtime At Its Key Tennessee Plant</a>
Photo Courtesy:&nbsp;ジミオン&nbsp;via <a href="https://commons.wikimedia.org/wiki/File:NOBUAKI_KURUMATNI.png">Wikimedia</a>

Events

Toshiba CEO Nobuaki Kurumatani Resigns: What You Need To Know

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Another AI Category To Take Notice Of: High Band Memory Chip Manufacturers

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