WE - Bitcoin's ETF Approval Rumor Pfizer Slashes Annual Outlook Activist Shareholder Shakes Up News Corp's Status Quo: Today's Top Stories | Benzinga

October, 16 2023 02:35 PM WeWork Inc. Class A

Benzinga

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.

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(NYSE: ALB) said it will not pursue a binding agreement to purchase Liontown Resources Ltd (OTC: LINRF) and has withdrawn its non-binding offer to Liontown's Board of Directors.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.

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.