WE - Bitcoin's ETF Approval Rumor Pfizer Slashes Annual Outlook Activist Shareholder Shakes Up News Corp's Status Quo: Today's Top Stories | Benzinga
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Bitcoin Spiked On False ETF Approval Rumor
- Bitcoin (BTC/USD), the ace cryptocurrency, spiked on unverified reports of the approval of an iShares Bitcoin ETF.
- BlackRock said the information is false, according to Fox Business journalist Eleanor Terrett.
- The company's Bitcoin ETF application is still under review, BlackRock, which owns iShares, told Fox.
Albemarle Backs Out Of Acquisition Offer For Australia's Liontown Resources
- Mining giant Albemarle Corporation (NYSE: ALB) said it will not pursue a binding agreement to purchase Liontown Resources Ltd (OTC: LINRF) and has withdrawn its non-binding offer to Liontown's Board of Directors.
- The decision comes as Albemarle nears the end of its exclusive due diligence process.
- Albemarle cited the growing complexities associated with the proposed transaction as a factor in its decision.
- Friday, Pfizer Inc (NYSE: PFE) slashed its full-year earnings and revenue guidance, citing decreasing demand for its COVID-19 products.
- The company now expects 2023 sales of $58 billion-$61 billion, down from its previous guidance of $67 billion-$70 billion versus consensus of $66.0 billion.
- BioNTech SE (NASDAQ: BNTX) flagged write-downs of up to €900 million, reflecting similar charges to Pfizer.
Drug Retailer Rite Aid Grappling With Lawsuits Files For Bankruptcy
- Rite Aid Corporation (NYSE: RAD) filed for Chapter 11 bankruptcy protection in New Jersey and said it would begin restructuring to reduce its debt. Elixir Insurance is not included in the Chapter 11 process.
- Rite Aid is evaluating its store portfolio, and in connection with the court-supervised process, the company will close additional underperforming stores.
- Rite Aid also said lenders agreed to provide $3.45 billion in new funding to "provide sufficient liquidity" as it embarks on its restructuring plan.
AstraZeneca's Tagrisso-Chemo Combo Under FDA Priority Review For The Most Common Form Of Lung Cancer