Top Stories Friday, Jan. 06 – Bed Bath & Beyond (NASDAQ:BBBY), Salesforce (NYSE:CRM)

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Twitter Hackers Stole More Than 200M Emails That Could Lead To Lot Of ‘Targeted Phishing And Doxxing,’ Says Security Researcher

  • Twitter suffered a data breach in which hackers stole over 200 million email addresses and posted them on an online hacking forum, according to a security researcher.
  • Details of the hacking were shared by Alon Galco-founder and CTO of Israeli cybersecurity monitoring firm Hudson Rock in a LinkedIn post first noted on Reuters.

Free Wi-Fi On Your Next Flight? – Delta Taps T-Mobile To Offer Free Wi-Fi

  • Delta Air Lines Inc DAL shared plans to offer fast, free Wi-Fi in partnership with T-Mobile US Inc TMUS to all customers on board most domestic mainline flights beginning February 1.
  • Delta will offer the service on more than 700 ViaSat, Inc VSAT-equipped aircraft by the end of 2023.
  • Delta also announced plans to bring free Wi-Fi on international and regional aircraft by the end of 2024.

Samsung Sees Q4 Profit Plunge 69% As Pandemic Correction And Macro Headwinds Weigh

  • Samsung Electronics Co,Ltd SSNLF shared the guidance for its fourth quarter.
  • The ace chipmaker expects consolidated sales of approximately 70 trillion Korean won, down 8.6% year-on-year.
  • Samsung saw a consolidated operating profit of approximately 4.3 trillion Korean won.

Shell To Pay $2B As A Part Of Windfall Tax In European Union In Q4

  • shell plc SHEL announced the Q4’22 earnings impact of recently announced additional taxes in the EU, and the deferred tax impact from the increased UK Energy Profits Levy is expected to be around $2 billion.
  • These impacts will be reported as identified items and, therefore, will not impact Q4’22 adjusted earnings and will have limited cash impact in Q4’22, given the expected timing of payments.
  • Shell Q4 FY adjusted loss of $(550)-$(750) million.

Peloton Settles Treadmill Recall Incident And Violation With $19.1M Penalty

  • Peloton Interactive, Inc PTON agreed to pay a $19.1 million civil penalty to the US Consumer Product Safety Commission (CPSC).
  • CPSC charged that Peloton purposely failed to immediately report to CPSC regarding its Tread+ treadmill defect that could create a substantial product hazard and create an unreasonable risk of serious injury to consumers.
  • Beginning in December 2018 and 2019, Peloton received reports of incidents associated with pull-under and entrapment in the rear of the treadmills.
  • By the time Peloton filed a report with the Commission, there were more than 150 reports of people, pets, and objects, including the death of a child and 13 injuries.

Roche’s Investigational Lymphoma Candidate Goes Under FDA Priority Review

  • The FDA has accepted Roche Holdings AG’s RHHBY Biologics License Application (BLA) and granted priority review for glofitamab for relapsed or refractory (R/R) large B-cell lymphoma (LBCL) after two or more lines of systemic therapy.
  • The FDA is expected to decide on the approval of this novel cancer immunotherapy by July 1, 2023.

Stellantis Establishes New ‘Mobilisights’ Independent Business Unit

  • Stellantis NV has established a business unit, Mobilisightsto grow its data as a service (DaaS) business.
  • The unit will also develop and license innovative B2B products, applications, and services.
  • Mobilisights products will be available to various entities, including private enterprises, public-sector utilities, and education & research institutions, fostering data-driven decision-making.


Bed Bath & Beyond Plans To File For Bankruptcy Within Weeks

  • Retail store chain Bed Bath & Beyond Inc BBBY is planning to file for bankruptcy in the coming weeks, sooner than expected.
  • The latest development follows the company’s inability to survive the competition and mounting debts.
  • The company on Thursday said it is exploring strategic alternatives, including obtaining relief under the US Bankruptcy Code.

Pfizer Mulls Strategic Options For Some Early-Stage Rare Disease Candidates

  • Pfizer Inc PFE is reportedly exploring options for some early-stage candidates for rare diseases, including developing new viral-based gene therapies.
  • The US pharma giant said these options included collaborations with other drug developers for these medicines or establishing a new company, with an aim to focus on “high-impact” medicines and vaccines.

Stellantis CEO Warns Of More Plant Closures

  • Stellantis NV STLA Chief Executive Officer Carlos Tavares warned of more auto plant closures in the year.
  • Tavares said automakers would be pushed to shut shops if high electric vehicle prices made vehicle markets shrink.
  • The remark comes as EV manufacturers in the US have raised prices to counter inflation.
  • Stellantis closed the assembly plant in Belvidere, citing high EV costs.


Salesforce’s Downsizing Plans Hit Its Tableau Division Most

  • Salesforce Inc’s CRM panel unit was hit harder than other units in the company’s largest-ever round of jobs cuts this week, signaling the futility of the $15.7 billion acquisition.
  • Salesforce fired Tableau CEO Mark Nelson and more senior staff in December as part of its downsizing plans.
  • Job reductions at Tableau were more significant, proportionally than the company at large thus far.


Genesis Billionaire-Backed Crypto Lender Axes 30% Of Jobs Months After Laying Off 20% Of Staff

  • As the crypto lending industry faces increasing financial pressure, Genesis Tradinga subsidiary of Digital Currency Group (DCG), announced a 30% reduction in its workforce.
  • The move followed the layoff of 20% of Genesis staff last year and the replacement of its CEO. The total number of job cuts now stands at 145.
  • The decision came after Genesis hired bankruptcy professionals following the collapse of FTX and Alameda Research, a significant company client. In response to the crisis, Genesis frozen redemptions for all clients and was said to have sought an emergency loan of $1 billion.

Photo by Gerd Altmann from Pixabay

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