Top Stories Tuesday, Sep 12: DraftKings Apologizes For 9/11 'Never Forget' Parlay Promotion, Apple Set For Selling 'Made In India' iPhone 15 on Launch Day, MGM Resorts Faces Ongoing Cyber Incident - Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN)

Benzinga

DraftKings Inc DKNG has apologized for a parlay that the app featured on Sunday night.
DraftKings shares featured parlays on its app, such as the current offerings of the "Shay Shay Parlay," which includes three betting picks from Shannon Sharpe, or the "Hard Knocks" parlay, which includes four different bets on the Jets ahead of the Monday Night Football game.

MGM Resorts International MGM had pulled the plug on several computer systems, including its website, stemming from a "cybersecurity issue."
"We quickly began an investigation with assistance from leading external cybersecurity experts," MGM said in a post on X.
The discontinuation weighed on nearly every aspect of the casino operator's business.
However, the report mentioned that the company's gaming floors were back online on Monday evening. Still, MGM has not further updated its reservation and room booking systems.

WestRock Company WRK shares are gaining in premarket trading today after the company and Smurfit Kappa Group Plc SMFKY said they are merging to create Smurfit WestRock, a sustainable packaging company with scale, quality, product and geographic diversity.
Under the terms of the agreement, for each share of common stock, stockholders will receive one new Smurfit WestRock share and $5.00 in cash.

The U.S. Food and Drug Administration approved and authorized updated COVID-19 vaccines by Moderna Inc MRNA and partners Pfizer Inc PFE and BioNTech SE BNTX aimed at better countering circulating viral strains, including the omicron variant XBB.1.5.
Shares of Novavax Inc NVAX, a company also in the race to update its COVID-19 vaccine, fell almost 13% after the approval of Pfizer's and Moderna's vaccines. Novavax's vaccine uses protein-based technology and is still awaiting FDA approval.

GlobalFoundries Inc GFS has unveiled its $4 billion expansion fabrication plant (fab) in Singapore, solidifying its presence in the semiconductor manufacturing sector.
The 23,000-square-meter facility is set to create 1,000 high-value jobs in Singapore, focusing on equipment technicians, process technicians, and engineers, contributing to the country's vision of becoming a global hub for advanced manufacturing by 2030.

Amazon.Com Inc AMZN has invested for the first time in direct air capture climate technology by agreeing to purchase 250,000 metric tons of carbon dioxide removal (CDR) credits over ten years.
STRATOS will enable the CDR credits for Amazon, 1PointFive's first commercial-scale DAC plant, currently under construction in Texas.
Under the 10-year agreement with Amazon, the captured CO2 underlying the CDR credits will be stored in saline reservoirs not associated with oil and gas production.

Acelyrin Inc SLRN announced topline results from Part B of a Phase 2b/3 trial evaluating izokibep for moderate-to-severe Hidradenitis Suppurativa.
The primary endpoint of HiSCR75 at week 16 did not meet statistical significance.
However, response rates for izokibep showed early HiSCR100 responses, a clear dose effect supported by both pharmacokinetic exposures and HiSCR responses favoring 160 mg weekly dosing, and no evidence of safety or tolerability limitation.

Reuters

General Motors Company GM, Ford Motor Company F, and Stellantis N.V STLA are only three days away from a possible strike by UAW, with 146,000 autoworkers.
The United Auto Workers union President Shawn Fain reportedly said the talks between the union and the Detroit Three automakers have made some headway, but an agreement has not been reached.

Bloomberg

Apple Inc AAPL will likely break new ground by making its India-built iPhone 15 available on the global launch day, a significant shift in Apple's supply chain strategy as U.S.-China geopolitical tensions escalate.
Traditionally, China manufactured the majority of iPhones. Still, with the introduction of the iPhone 15, Apple plans to offer India-assembled devices on the first day of sale, marking a milestone for Indian production.

Arm Ltd CEO Rene Haas is preparing for the year's most significant initial public offering, emphasizing a strategic shift, potentially putting it in competition with its chipmaker customers.
Haas stated in a video presentation for prospective investors, "We made a significant shift in our strategy." Historically, Arm's primary focus has been designing chips for smartphones and other electronic devices, selling this technology inexpensively to companies like Qualcomm Inc QCOM.

According to Anirudh Devgan, CEO of Cadence Design Systems Inc CDNS, semiconductor packaging is the key to U.S. leadership in emerging technologies like artificial intelligence. While sophisticated chip packaging has helped companies like Nvidia Corp NVDA develop AI accelerators, a limited number of suppliers are now causing bottlenecks.
As computational demands increase and advanced chips become more expensive due to smaller transistors, working with three-dimensional structures and overcoming physical limitations is essential.

CNBC

United Parcel Service Inc UPS management reportedly stated that the expenses related to the recent Teamsters contract are lower than the amount asserted by the union.
UPS's CEO Carol Tome said that the costs incurred by the company for the new Teamsters contract are less than the" $30 billion in new money" touted by the union, as the company aims to sell investors on the agreement.

DraftKings Apologizes For 9/11 'Never Forget' Parlay Promotion, Apple Set For Selling 'Made In India' iPhone 15 on Launch Day, MGM Resorts Faces Ongoing Cyber Incident: Today's Top Stories