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That came after short-seller Hindenburg Research revealed last month it had taken a short position in the company, citing "fresh evidence of accounting manipulation." Cassava Sciences — The biotech company fell 11% after agreeing to pay $40 million to settle a case with the Securities and Exchange Commission. Wynn Resorts — The stock rose about 6% thanks to an upgrade to overweight from equal weight at Morgan Stanley. Amgen — The biotech's shares rose 2% after Cantor Fitzgerald initiated research coverage with an overweight rating. — The aerospace and defense stock added 16% following a price target increase from KeyBanc Capital Markets, which retained an overweight investment rating.
Persons: Bristol Myers, Hindenburg, Morgan Stanley, Amgen, Cantor Fitzgerald, Olivia Brayer, Michael Leshock, — CNBC's Sean Conlon, Alex Harring, Yun Li, Hakyung Kim, Samantha Subin, Pia Singh Organizations: Bristol Myers Squibb, Food and Drug Administration, Bristol, Nordisk —, JPMorgan, Wall, Costco Wholesale, Revenue, Wall Street Journal, Justice Department, Hindenburg Research, Securities and Exchange Commission, Wynn Resorts, UAE, HP Inc, Bank of America, KeyBanc Locations: Nordisk — U.S, Danish, Las Vegas
To receive the U.S. Cyber Trust Mark, companies will have to follow cybersecurity standards set by the National Institute of Standards and Technology (NIST), such as requiring strong passwords and software updates. Other agencies across the executive branch also plan to get involved in making connected devices more secure, according to the announcement. For example, the Department of Energy will collaborate with National Labs and industry to create cybersecurity labeling standards for smart meters and power inverters. And the Department of State plans to engage allies in syncing up cybersecurity labeling standards and creating international recognition of such labels. Once completed, the FCC could choose to use the standards to apply the new label to these products as well.
Persons: Biden Organizations: U.S, U.S . Cyber, Federal Communications Commission, Google, LG Electronics, Logitech, Samsung, National Institute of Standards, Technology, NIST, FCC, Infrastructure Security Agency, Department of Energy, National Labs, Department of State, CNBC, YouTube Locations: cyberattacks, U.S
Analyst Jamie Franklin initiated coverage of the steel producer known for its pipes business at a buy rating. His price target of $41.80 for U.S.-listed shares implies upside of 46.6%. U.S.-listed shares were up nearly 3% on Thursday. But international pricing is improving, and the company had nearly 40% of sales outside of North America in 2022, according to Jefferies. Franklin said Tenaris has a remarkable operational delivery record, with EBITDA margins over 20% on average in the last decade.
Persons: Tenaris, Jefferies, Jamie Franklin, Franklin, — CNBC's Michael Bloom Organizations: Services, TEN, Jefferies, Vallourec S.A Locations: U.S, Tenaris, Milan ., North America
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