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Reckitt Benckiser Group (OTC:RBGPF) Stock, Chaîne d'Options

Reckitt Benckiser was formed in 1999 through the merger of the British firm Reckitt & Colman and Dutch-based Benckiser. Recently rebranded under the corporate name Reckitt, it sells a portfolio that includes a variety of household and consumer health brands, such as Lysol, Finish, Durex, and Mucinex, many of which hold the number-one or -two positions in their categories globally. Reckitt has repositioned its portfolio and has entered the infant formula market through the acquisition of Mead Johnson in 2017, expanded its consumer health presence by acquiring Schiff Nutrition, K-Y, and Biofreeze, and has exited the food industry. The firm operates in 60 countries and sells products in more than 200, generating around 35% of sales from emerging markets.

RECKITT BENCKISER GRP ORD by Reckitt Benckiser Group Plc.

Reckitt Benckiser Group PLC

On Thursday, the FDA proposed removing oral phenylephrine from the list of approved active ingredients for over-the-counter (OTC) nasal decongestants, citing concerns over its effectiveness.
After reviewing available data, the agency <a href="https://www.fda.gov/news-events/press-announcements/fda-proposes-ending-use-oral-phenylephrine-otc-monograph-nasal-decongestant-active-ingredient-after" target="_blank" rel="noreferrer noopener">determined</a> that oral phenylephrine does not provide the expected relief for nasal congestion despite its widespread use in many OTC drug products.
This proposed order is based solely on concerns about effectiveness, not safety, and will not impact nasal spray products containing phenylephrine.
Currently, oral phenylephrine is found in various OTC products, either as a standalone ingredient or in combination with other drugs such as acetaminophen or dextromethorphan.
New York Times <a href="https://www.nytimes.com/2024/11/07/health/fda-decongestant-over-the-counter.html" target="_blank" rel="noreferrer noopener">adds</a> that the ingredient has been used alone and in combination with other painkillers, cough suppressants, and agents meant to ease cold and flu symptoms in medications like Kenvue Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>) Tylenol, Reckitt Benckiser Plc&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBGLY#OTC">RBGLY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBGPF#OTC">RBGPF</a>) Mucinex, and Benadryl.
However, phenylephrine in these combinations does not affect the efficacy of other active ingredients for treating cold or allergy symptoms.
Patrizia Cavazzoni, director of the FDA's Center for Drug Evaluation and Research (CDER), emphasized that the agency's role is to ensure drugs are both safe and effective.
She noted that, after a comprehensive review of historical and recent clinical data, it became clear that oral phenylephrine does not meet the effectiveness criteria for nasal decongestion.
This conclusion is supported by the FDA's advisory committee, which last year unanimously agreed that the current scientific data does not support oral phenylephrine's use as a nasal decongestant.
In addition to the review, the FDA held a meeting of the Nonprescription Drug Advisory Committee to evaluate new evidence regarding phenylephrine's effectiveness.
Based on the committee's recommendations and additional data, the agency is moving forward with this proposed order. While the FDA has issued a proposal, it has yet to issue a final order, which would determine the future availability of products containing oral phenylephrine as a nasal decongestant.
The FDA is seeking public comments on this proposed change and will consider feedback before issuing a final decision.
If the FDA concludes that oral phenylephrine is ineffective, manufacturers must reform or remove their products from the market.
Read Next:<a href="https://www.benzinga.com/news/earnings/24/11/41848168/icahn-enterprises-hits-rough-patch-with-q3-earnings-miss-dividend-cut-eyes-larger-stake-in-cvr-energy" target="_blank" rel="noreferrer noopener">Icahn Enterprises Hits Rough Patch With Q3 Earnings Miss, Dividend Cut; Eyes Larger Stake In CVR Energy</a>
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News

Health Care

General

KVUE

RBGLY

RBGPF

FDA Wants To Pull Popular OTC Decongestant Used For Common Cold Over Effectiveness Concerns

European consumer giant Reckitt Benckiser Group Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBGLY#OTC">RBGLY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBGPF#OTC">RBGPF</a>) has reportedly kickstarted preliminary talks with potential buyers regarding the sale of its homecare division, which features well-known brands such as Air Wick, Mortein, Calgon, and Cillit Bang.
In July, Reckitt <a target="_blank" href="https://www.reckitt.com/media-landing/press-releases/2024/reckitt-to-sharpen-its-portfolio-and-simplify-organisation-for-accelerated-growth-and-value-creation/" rel="noreferrer noopener">announced</a> initiatives aimed at reshaping the company into a leading global player in the consumer health and hygiene sectors.
The company announced its plans to streamline its brand portfolio and simplify its organizational structure.
Reckitt said it will focus on its top-performing &#8220;Powerbrands,&#8221; which are highly popular with consumers and dominate market categories with substantial growth potential.
Reckitt said it will divest its home care brands—collectively generating roughly $2.52 billion (1.9 billion pounds) in net revenue in FY2023—by the end of 2025.
The company will explore all options to optimize shareholder returns in the process.
According to the Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-17/reckitt-said-to-start-talks-on-6-billion-homecare-assets-sale" rel="noreferrer noopener">report</a>, the deal could be valued at more than 6 billion pounds ($7.93 billion), and it has garnered interest mostly from financial investors and some consumer companies.
Additionally, Reckitt considers its Mead Johnson Nutrition business, including the Enfamil and Nutramigen baby formula brands, non-core and will evaluate strategic alternatives.
The company is working with Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) to evaluate options.
Reckitt&#8217;s infant formula division, established through a massive $17 billion purchase of Mead Johnson in 2017, has proven challenging for the company. Reckitt has incurred approximately 9 billion pounds in charges related to the unit, including losses from selling its Chinese operations.
The report also noted that CEO Kris Licht admitted that the infant formula business has not always aligned well with the rest of the company.
In January, the company initiated a massive recall of hypoallergenic infant formula due to concerns over potential bacteria contamination. The recall involves approximately 675,000 <a target="_blank" href="https://www.benzinga.com/news/24/01/36445997/reckitts-mead-johnson-initiates-massive-recall-of-675k-cans-of-hypoallergenic-baby-formula-over-bact" rel="noreferrer noopener">cans of infant formula</a>.
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</ul>

Media

Consumer Giant Reckitt Seeks Help From Investment Banks To Evaluate Options For Homecare Brands, Baby Formula

Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) is set to face trial on Monday over allegations that its formula for preterm infants used in neonatal intensive care units causes a potentially deadly bowel disease known as necrotizing enterocolitis (NEC).
This is the second trial out of hundreds of similar lawsuits in the U.S.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/06/39233852/class-action-against-abbotts-glucerna-products-proceeds-in-federal-court" rel="noreferrer noopener">Class Action Against Abbott&#8217;s Glucerna Products Proceeds in Federal Court</a>.
Lawyers for Abbott and Illinois resident Margo Gill will make their opening statements to jurors in St. Louis, Missouri, with the trial expected to last most of the month.
Gill claims her premature infant developed NEC after being fed Abbott&#8217;s products for premature babies, which causes the death of bowel tissue, primarily affects newborns, and has a fatality rate of 15% to 40%.
Although Gill&#8217;s child survived, they now suffer from long-term health problems.
Reuters noted Abbott&#8217;s response, stating that Gill&#8217;s child &#8220;suffered from a traumatic brain injury in utero and at birth, long before she was fed any Abbott products,&#8221; and argued that &#8220;no one is to blame&#8221; for her condition.
Close to 1,000 lawsuits have been filed in federal or state courts against Abbott and Enfamil formula maker Reckitt Benckiser Group Plc&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBGLY#OTC">RBGLY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBGPF#OTC">RBGPF</a>), alleging that cow&#8217;s milk-based formula products for premature infants caused NEC.
More than 500 cases are centralized in an Illinois federal court, with others pending in Illinois, Missouri, and Pennsylvania.
The lawsuits claim the companies failed to warn that infants given their products are at a higher risk of NEC than those breastfed or given donor milk or human milk-derived formula.
The first lawsuit to go to trial, against Reckitt in Illinois, ended with a $60 million jury verdict in March. Reckitt appealed the verdict, arguing that the plaintiff&#8217;s case relied on <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/03/37755685/whats-going-on-with-abbott-laboratories-stock-on-friday" rel="noreferrer noopener">unsound expert testimony</a>.
These NEC lawsuits are separate from ongoing litigation against Abbott over the shutdown of its Sturgis, Michigan, plant and subsequent recall of baby formula batches for possible contamination, which contributed to a nationwide formula shortage in 2022. No trials have been <a target="_blank" href="https://www.benzinga.com/general/biotech/22/02/25712474/abbott-recalls-baby-formula-manufactured-at-michigan-facility" rel="noreferrer noopener">held for these cases yet</a>.
Price Action: ABT shares are down 1.48% at $102.48 at the last check on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/news/large-cap/24/02/37133493/cardiologys-quantum-leap-fdas-advisory-panel-gives-thumbs-up-to-abbotts-minimally-invasive-heart-v" target="_blank" rel="noreferrer noopener">Cardiology&#8217;s Quantum Leap: FDA&#8217;s Advisory Panel Gives Thumbs Up To Abbott&#8217;s Minimally Invasive Heart Valve Repair Device</a>.</li>
</ul>
Photo via Wikimedia Commons

Large Cap

Legal

Similac Baby Formula Maker Abbott And Reckitt Face Hundreds Of Baby Formula Lawsuits

An Illinois jury has issued a verdict compelling&nbsp;Reckitt Benckiser Group Plc&#8217;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBGLY#OTC">RBGLY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBGPF#OTC">RBGPF</a>)&nbsp;Mead Johnson&nbsp;to pay $60 million to the mother of a premature infant who tragically succumbed to necrotizing enterocolitis (NEC) after being fed the company&#8217;s Enfamil baby formula.&nbsp;
The jury found Mead Johnson negligent for failing to warn of the risks associated with NEC, a disease that mostly affects premature newborns, with a mortality rate ranging from 15% to 40%.&nbsp;
The verdict signifies the opening of a legal floodgate, with hundreds of similar lawsuits pending against Mead Johnson and&nbsp;Abbott Laboratories Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) regarding their infant formulas.
In a statement, Reckitt&nbsp;<a target="_blank" href="https://reckitt.com/media-landing/press-releases/2024/reckitt-stands-by-the-safety-of-its-infant-formula-products/" rel="noreferrer noopener">said</a>, &#8220;While we continue to offer our deepest condolences to Ms. Watson, we strongly disagree with the jury&#8217;s decision to fault Mead Johnson and award damages. We continue to believe that the allegations from the plaintiff&#8217;s lawyers in this case were not supported by the science or experts in the medical community. This was underscored during the trial by a dozen neonatologists.&#8221;
Reuters&nbsp;<a target="_blank" href="https://www.reuters.com/legal/reckitt-unit-hit-with-60-million-verdict-enfamil-baby-formula-case-illinois-2024-03-14/" rel="noreferrer noopener">highlighted</a>&nbsp;that over 400 NEC lawsuits against Mead Johnson and Abbott are pending in federal court in Chicago, and others, like Watson&#8217;s, are in state courts.
Citing the jury, Bloomberg noted, &#8220;The jury&#8217;s finding confirms what Mead Johnson folks already knew – that its formula dramatically increases the NEC risk. This is the first verdict in the US, but won&#8217;t be the last unless baby formula makers accept responsibility for their misdeeds.&#8221;
Reuters reported that the NEC lawsuits are&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/23/05/32549547/is-there-collusion-in-the-baby-formula-industry-ftc-scrutinizes-state-contracts-bidding-process" rel="noreferrer noopener">distinct from the legal proceedings</a>&nbsp;against Abbott concerning the closure of its Sturgis, Michigan facility and the recall of baby formula batches due to potential contamination.&nbsp;
These actions by Abbott led to a shortage of formula&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/22/02/25712474/abbott-recalls-baby-formula-manufactured-at-michigan-facility" rel="noreferrer noopener">across the United States in 2022</a>.
Price Action: ABT shares are down 4.59% at $113.40 on the last check Friday.
Photo by Studio952 via Shutterstock

Movers

What's Going On With Abbott Laboratories Stock On Friday?

Reckitt Benckiser Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBGLY#OTC">RBGLY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RBGPF#OTC">RBGPF</a>) is leveraging the popularity of livestream shopping in China to sell condoms, a move that could be challenging due to strict regulatory oversight.
What Happened: The British consumer goods company, which owns the Durex brand, is testing the waters of livestreaming as a sales channel for condoms in China, Reuters reported. This initiative is part of Reckitt&#8217;s strategy to expand its share of the $5 billion-plus condom market in China.
Livestreaming has been a driving force behind the e-commerce boom in China, generating sales of $238 billion in 2022. This figure is expected to exceed $300 billion by 2025, according to research firm eMarketer.
Reckitt has already experienced success with livestreaming household products in China. However, selling condoms through this platform may prove more challenging due to the stringent regulation of sex-related content online.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37318123/amgens-upcoming-catalysts-in-2024-set-to-unlock-multi-billion-dollar-markets-says-g?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amgen&#8217;s Upcoming Catalysts In 2024 Set To Unlock Multi-Billion Dollar Markets, Says Goldman Sachs</a>
Despite these challenges, the potential of the Chinese condom market is estimated to reach $5.2 billion in 2024, according to the China Business Research Institute. It is a compelling opportunity for Reckitt. The company currently holds a 40% market share&nbsp;as of 2020, according to Daxue Consulting.
&#8220;There is no clear definition of what vulgar content is &#8211; that&#8217;s up to the regulator to decide and the system is quite socially conservative,&#8221; said Kendra Schaefer, head of tech policy at China-focused research firm Trivium. &#8220;So how do you talk about sexual health without tripping the &#8216;vulgar&#8217; issue? It&#8217;s a delicate line to walk.&#8221;
Arjun Purkayastha, who oversees Reckitt&#8217;s business in Greater China, stated that livestreaming accounts for a significant portion of the company&#8217;s sales in China. Reckitt began live streaming select Durex products on Douyin, the local version of TikTok, last summer and plans to expand its offerings in the future.
&#8220;It&#8217;s just a matter of time that we learn to do it in a classy manner without offending anyone&#8221; in China, Purkayastha said, according to the report.
Why It Matters: China&#8217;s population is aging, a trend that could potentially boost healthcare and wellness-related industries. China&#8217;s population is expected to have declined for the second consecutive year, with <a href="https://www.benzinga.com/markets/asia/24/01/36576782/as-chinas-population-declines-in-2023-will-aging-demographics-boost-healthcare-stocks">deaths surpassing births</a> for the first time in over 60 years. This demographic shift is expected to drive increased demand for healthcare and wellness products, creating opportunities for companies like Reckitt.
However, the declining population in China has also been a cause for concern. Billionaire Elon Musk has warned of a potential <a href="https://www.benzinga.com/news/23/01/30433976/elon-musk-serves-another-population-collapse-warning-as-chinas-latest-numbers-cause-alarm-massive-da">global population collapse</a>, citing China&#8217;s shrinking population as a significant risk to civilization. Best-selling author Jim Rickards has also warned of the disastrous consequences of <a href="https://www.benzinga.com/government/23/01/30455673/jim-rickards-says-chinas-population-decline-just-the-start-this-will-be-an-epic-collapse-1">China&#8217;s declining population</a>, terming it an &#8220;epic collapse.&#8221;
Despite these concerns, China&#8217;s economy continues to show strong growth potential. A report from the Centre for Economics and Business Research (CEBR) suggests that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36930207/china-could-leapfrog-us-as-top-economy-by-2037-but-another-asian-powerhouse-could-r">China could become the world&#8217;s top economy by GDP as soon as 2037</a>, with India also forecasted to experience significant growth.
Read Next: <a href="https://www.benzinga.com/general/biotech/24/02/37367720/why-is-covid-19-vaccine-maker-novavax-stock-plunging-on-wednesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Is Novavax Stock Trading Lower Today?</a>
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Durex Owner Reckitt Benckiser Taps Into China's Livestreaming Trend To Sell Condoms Online

According to FDA panel&nbsp;<a class="editor-rtfLink" href="https://www.fda.gov/media/171915/download" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">experts</a>&nbsp;who reviewed the latest research on the long-questioned phenylephrine, a drug ingredient used in several leading decongestants used by millions of Americans looking for relief from a stuffy nose, is likely no better than a dummy pill.
&quot;We believe that these new clinical pharmacology and clinical data are consistent, substantial, and believable, and they confirm that orally administered [phenylephrine] is not effective at any dose that can be developed and still provide a reasonable margin of safety,&quot; the agency&#39;s reviewers wrote in their report.
Advisers to the FDA voted unanimously against the effectiveness of the phenylephrine found in popular versions of Benadryl, Mucinex, Tylenol, and other medications stocked on store shelves.
For the panel&#39;s recommendations, three oral decongestant ingredients, phenylpropanolamine (PPA), pseudoephedrine (PSE), and phenylephrine hydrochloride, were included.
PPA was removed from OTC use due to safety issues.
After the Combat Methamphetamine Epidemic Act of 2005, PSE became regulated as &#39;behind-the-counter,&#39; limiting its use in the OTC setting and leaving PE as the only remaining OTC oral decongestant.
If the FDA follows through on the panel&#39;s recommendations,&nbsp;Johnson &amp; Johnson&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>) recent spinoff&nbsp;Kenvue Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kvue#NYSE">KVUE</a>), Bayer AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bayry#OTC">BAYRY</a>),&nbsp;GSK Plc&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsk#NYSE">GSK</a>) spinoff&nbsp;Haleon Plc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hln#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HLN</a>), and&nbsp;Procter &amp; Gamble Company&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/pg#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PG</a>),&nbsp;Reckitt Benckiser Group&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/rbgly#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RBGLY</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/rbgpf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RBGPF</a>) and other drugmakers could be required to pull their oral medications containing phenylephrine from store shelves.&nbsp;
The manufacturers and pharmacy retailers could also see some impact if the FDA deems phenylephrine ineffective.
Wall Street Journal, citing Research firm IRI,&nbsp;<a class="editor-rtfLink" href="https://www.wsj.com/health/healthcare/decongestant-cold-medicine-ineffective-f68df3f7?mod=hp_lead_pos5" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">notes</a>&nbsp;that in 2021, OTC products designed to address cough, sinus, and flu symptoms, including phenylephrine-containing pills, generated approximately $5 billion in sales.
Pharmacy retailers to watch out for include&nbsp;CVS Health Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/cvs#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CVS</a>),&nbsp;Walgreens Boots Alliance&nbsp;Inc (NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/wba#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">WBA</a>), and&nbsp;Rite Aid&nbsp;Corp&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/rad#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RAD</a>), among others.

Penny Stocks

BAYRY

FDA Panel Says Popular OTC Cold, Allergy Medicine Might Be Useless - Stocks To Watch

<ul>
<li>The Federal Trade Commission&#39;s (FTC) investigation concerns potential collusion among baby-formula manufacturers as it examines whether companies like&nbsp;Abbott Laboratories&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>) and other formula manufacturers have engaged in collusion or coordination while bidding for state contracts.</li>
<li>Furthermore, the agency is also exploring whether the coordination among these companies has had a broader impact on sales outside of the Women, Infants, and Children (WIC) formula-supply program, as stated by FTC Commissioner Alvaro Bedoya.&nbsp;</li>
<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/23/05/32530497/abbotts-baby-formula-brouhaha-judge-says-no-harm-no-foul-in-contamination-controversy" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Abbott&#39;s Baby Formula Brouhaha: Judge Says No Harm, No Foul in Contamination Controversy</a>.</li>
<li>Abbott Laboratories has stated its cooperation with the FTC&#39;s investigation, Wall Street Journal&nbsp;<a class="editor-rtfLink" href="https://www.wsj.com/articles/baby-formula-collusion-ftc-864aeb94?mod=latest_headlines" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported</a>.&nbsp;</li>
<li>In previous correspondence, Abbott&#39;s lawyers denied any knowledge of collusion or coordination and expressed confusion regarding the factual basis of the agency&#39;s investigation.</li>
<li>In January, the FTC had initially requested information from Abbott as a part of its investigation into companies bidding for state infant-formula supply contracts.&nbsp;</li>
<li>Nestl&eacute; SA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsrgf#OTC">NSRGF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsrgy#OTC">NSRGY</a>) also received a request for information from the FTC and has responded accordingly.&nbsp;</li>
<li>Reckitt Benckiser Group Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgly#OTC">RBGLY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgpf#OTC">RBGPF</a>), another company frequently awarded WIC contracts, has not commented on the specific government investigations but stated its commitment to complying with regulatory and enforcement agencies&#39; requests.</li>
<li>While the FTC declined to provide further details, labeling them as nonpublic, the investigation is one among several initiated by federal agencies against Abbott,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/03/31443656/republicans-seek-documents-schedule-hearing-related-to-fdas-response-to-baby-formula-shortage" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">including a criminal investigation</a>&nbsp;by the Justice Department prompted by the closure of one of Abbott&#39;s manufacturing plants last year, which contributed to a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/02/25712474/abbott-recalls-baby-formula-manufactured-at-michigan-facility" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">nationwide formula shortage</a>.</li>
<li>The recently revealed FTC documents shed light on Abbott&#39;s attempts to limit the information request and the FTC&#39;s rejection of their request.&nbsp;</li>
<li>Price Action:&nbsp;ABT shares closed at $105.74 on Tuesday.</li>
</ul>

NSRGF

Nestle Sponsored representing Registered Shares Series B

NSRGY

Is There Collusion in the Baby-Formula Industry?: FTC Scrutinizes State Contracts Bidding Process

<ul>
<li>Enfamil maker&nbsp;Reckitt Benckiser Group Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgly#OTC">RBGLY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgpf#OTC">RBGPF</a>) sees the near year-long infant formula shortage in the U.S. that prompted White House&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27389516/danone-reckitt-working-to-ease-us-baby-formula-supply-crunch-reuters" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">intervention will likely &quot;persist&quot; until spring</a>.</li>
<li>Supplies have yet to return to normal since the peak of the crisis in May and June, despite the U.S.&#39;s progress in replenishing stocks, said Robert Cleveland, Reckitt senior vice president of North America and Europe Nutrition, Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/healthcare-pharmaceuticals/enfamil-maker-reckitt-sees-formula-shortage-continuing-until-spring-2022-12-01/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reports</a>.</li>
<li>&quot;I suspect that will persist to some degree until the spring resets,&quot; he said. The situation was improving, he said, however. &quot;There is much more volume on shelves than a few months ago and&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27243278/abbott-fda-agree-on-consent-decree-for-reopening-michigan-baby-formula-plant-what-you-need-to-know" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">enough to feed America&#39;s babies</a>.&quot;</li>
<li>In 2022, panicked parents had emptied the baby formula aisles at supermarkets after former top U.S. manufacturer&nbsp;Abbott Laboratories&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>) in February recalled dozens of types of its Similac, Alimentum, and EleCare formulas.</li>
<li>The products, made at a plant in Michigan, were pulled after complaints of bacterial contamination.</li>
<li>Supermarkets like&nbsp;Target Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgt#NYSE">TGT</a>) and&nbsp;Walgreens Boots Alliance Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wba#NASDAQ">WBA</a>) had to limit sales, putting pressure on the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/08/28450331/baby-formula-startup-seeks-to-compete-abbott-with-15-market-share-report" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">U.S. government to address the crisis</a>.</li>
<li>Since the Abbott recall, Reckitt&#39;s infant formula market share has skyrocketed, making it the No.1 supplier in the U.S.</li>
<li>Its position has been further boosted by the U.S. saying it will temporarily cover the cost of baby formula for low-income families dependent on government discounts in states contracted with the company.</li>
<li>Reckitt has said its formula factories are operating 24/7 and feeding more than&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/07/28220999/reckitt-lifts-annual-forecast-on-higher-prices-baby-formula-shortage" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">40% of all low-income WIC infants</a>.</li>
<li>Price Action:&nbsp;ABT shares closed higher by 0.33% at $107.93 on Thursday.</li>
<li>Photo Via Wikimedia Commons</li>
</ul>

Government

Regulations

Reckitt Sees US Baby Food Formula Crisis Persisting Till Spring: Report

<ul>
<li>England-based consumer company&nbsp;Reckitt Benckiser Group Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgly#OTC">RBGLY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgpf#OTC">RBGPF</a>)&nbsp;<a class="editor-rtfLink" href="https://www.reckitt.com/newsroom/latest-news/news/2022/september/laxman-narasimhan-steps-down-as-ceo/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Chief Executive Officer Laxman Narasimhan will step down</a>&nbsp;at the end of September.</li>
<li>Narasimhan joined the Dettol cleaning products maker in September 2019. He was the first outsider candidate to assume the role since Reckitt&rsquo;s formation,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/reckitt-benckiser-says-ceo-narasimhan-step-down-2022-09-01/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters reported</a>.</li>
<li>He will be replaced by Nicandro Durante, current Senior Independent Director, who will step into the role of CEO, as the Board evaluates and selects the future leadership.</li>
<li>Durante will cease to be the Senior Independent Director and step down from the Nomination, Remuneration, and CRSEC Committees of the Board.</li>
<li>Andrew Bonfield will be appointed as Senior Independent Non-Executive Director to hold the role for an interim period until Jeremy Darroch joins the Board on November 1, 2022.</li>
<li>Price Action:&nbsp;RBGLY shares closed higher by 0.72% at $15.63 on Wednesday.</li>
<li>Photo Via&nbsp;Wikimedia Commons</li>
</ul>

Management

Dettol Maker Reckitt Benckiser's CEO Steps Down

<ul>
<li><a class="editor-rtfLink" href="https://www.wsj.com/articles/baby-formula-startup-seeks-expansion-as-shortage-persists-11660139170?mod=hp_lista_pos5" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Wall Street Journal</a>&nbsp;reported that baby formula startup&nbsp;ByHeart&nbsp;is seeking to register two additional facilities with the FDA to increase its production as the U.S. continues to face shortages.</li>
<li>Co-founders Ron Belldegrun and Mia Funt said that if the agency completes the registration, ByHeart could expand manufacturing and operations well before the company&#39;s original plans.</li>
<li>A spokeswoman for the FDA said the agency is reviewing several such requests from formula manufacturers seeking to expand. The FDA would oversee such facilities.</li>
<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/08/28286969/fda-stops-uk-based-companys-baby-formula-imports-accusing-altered-paperwork-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FDA Stops UK-Based Company&#39;s Baby Formula Imports Accusing Altered Paperwork: Report</a></li>
<li>According to the WSJ report, ByHeart&#39;s expansion could position it to potentially gain a 15% share of the baby-formula market, led by&nbsp;Abbott Laboratories&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>) and&nbsp;Reckitt Benckiser Group&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgly#OTC">RBGLY</a>), which controls roughly 80% of the market.</li>
<li>The crisis continues, despite government and manufacturers&#39; efforts to boost supplies. In July, the availability of powdered baby formula dropped to its lowest level since the shortage began early this year, according to market-research firm IRI.</li>
<li>ByHeart said it plans to spend at least another $30 million increasing its manufacturing capabilities over the next two years, and the investments will help it move into retail stores.</li>
<li>Photo by Pexels from Pixabay</li>
</ul>

Baby Formula Startup Seeks To Compete Abbott With 15% Market Share: Report

<ul>
<li>Reckitt Benckiser Group PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgly#OTC">RBGLY</a>) said&nbsp;<a class="editor-rtfLink" href="https://www.reckitt.com/media/10354/reckitt-rns-h1-2022.pdf" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Q2 like-for-like revenue rose 11.9%</a>&nbsp;on a constant currency basis, beating the 6.8% growth analysts had expected in a company-supplied poll.&nbsp;</li>
<li>Reckitt hiked prices 9.7% in the quarter, while sales volumes were up 2.2%.</li>
<li>Q2 sales increased 5.9% on constant currency to &pound;3.46 billion, including a 3.3% boost from sales of its Enfamil baby formula amid a shortage of supplies in the U.S. after&nbsp;Abbott Laboratories&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>) recalled dozens of brands in February.</li>
<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27389516/danone-reckitt-working-to-ease-us-baby-formula-supply-crunch-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">More Companies Join Race To Ease US Baby Formula Supply Crunch</a>.</li>
<li>&quot;We&#39;ve clearly seen the supply situation help us with regard to overall market share,&quot; CEO Laxman Narasimhan said. &quot;We will see some normalization as a competitor comes back online, but we have a business with a brand that&#39;s the number one recommended brand,&quot; as per Reuters.</li>
<li>Guidance:&nbsp;Reckitt expects like-for-like net revenue growth of 5-8% for 2022 and growth in adjusted operating margins.&nbsp;</li>
<li>In April, it had forecast net revenue growth in the&nbsp;<a class="editor-rtfLink" href="https://www.reckitt.com/media/10198/q1-2022-trading-update.pdf" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">upper part of a 1-4% range</a>&nbsp;and margins in line with last year.</li>
</ul>

Earnings

Guidance

Reckitt Lifts Annual Forecast On Higher Prices, Baby Formula Shortage

Danone SA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/danoy#OTC">DANOY</a>) has been doubling shipments to the U.S. of Neocate formula for infants allergic to cow&#39;s milk, while Enfamil maker&nbsp;Reckitt&nbsp;is also working to boost supplies amid a nationwide shortage, company executives said.
In February,&nbsp;Abbott Laboratories&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/02/25712474/abbott-recalls-baby-formula-manufactured-at-michigan-facility" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">recalled</a>&nbsp;dozens of Similac, Alimentum, and EleCare formulas, creating one of the most urgent food shortages in recent history for U.S. families.
<a class="editor-rtfLink" href="https://www.reuters.com/world/us/danone-doubles-supply-some-baby-formula-us-2022-05-25/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters reported</a>&nbsp;that&nbsp;Reckitt Benckiser Group&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgly#OTC">RBGLY</a>) said it is working &quot;extremely closely&quot; with the FDA to increase supply, including expediting the approval of some products made at a facility in Mexico.&nbsp;
Read Next:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/05/27343668/abbott-ceo-says-were-sorry-about-the-baby-formula-shortage-ensures-significant-investment-for-futu" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Abbott CEO Says &#39;We&#39;re Sorry About The Baby Formula Shortage,&#39; Ensures Significant Investment For Future</a>.
Reckitt, which supplies roughly half the U.S. baby formula market, said it is also working with the U.S. Department of Agriculture to expand the availability of formula under a program that helps low-income families.&nbsp;
&quot;The Abbott recall affected 38 markets &ndash; it&#39;s not only the U.S.,&quot; said Magdalena Broseta, Danone&#39;s Vice President General Counsel of Specialized Nutrition.
Also See:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27358557/baby-formula-from-europe-arrives-in-us-enough-for-9-000-babies-for-a-week" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Baby Formula From Europe Arrives In US: Enough For 9,000 Babies For A Week</a>.
&quot;Their focus is to unblock any logistical situations that other players could be facing,&quot; she added. &quot;It&#39;s a bit early to say what that would entail.&quot;
Broseta said Danone is producing more formula in its Liverpool plant and not rerouting products from elsewhere.
&quot;We will keep on serving our existing geographies at the level of their respective demand,&quot; she said.
Photo by&nbsp;<a class="editor-rtfLink" href="https://pixabay.com/users/pexels-2286921/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1839564" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Pexels</a>&nbsp;from&nbsp;<a class="editor-rtfLink" href="https://pixabay.com/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1839564" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Pixabay</a>

DANOY

More Companies Join Race To Ease US Baby Formula Supply Crunch

Danone SA&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/danoy#OTC">DANOY</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/retail-consumer/exclusive-french-baby-formula-maker-danone-sharply-ramps-up-us-shipments-2022-05-20/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">stepped up shipments</a>&nbsp;of infant formula from Europe to address a shortage in the U.S., analysis of ocean cargo data by U.S. customs data and shipping consultancy Ocean Audit for Reuters shows.
Danone is the world&#39;s second-biggest baby milk formula maker but a relatively small player in the U.S.
It has shipped most of the product from Britain and the Netherlands by ocean freight through its Nutricia North America arm.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27309037/abbotts-troubled-baby-formula-michigan-plant-to-reopen-in-1-2-weeks-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Abbott&#39;s Troubled Baby Formula Michigan Plant To Reopen In 1-2 Weeks: Reuters</a>.
Danone&#39;s Nutricia division more than tripled its ocean imports to North America between January and May. More than 90% were delivered to the U.S., said Steve Ferreira, CEO of Ocean Audit, which analyzed the data exclusively for Reuters.
Ferreira said his data showed that from January 1 to May 1 2021 Danone Nutricia sent nearly 770,000 cans of infant formula, filling roughly 100 cargo containers, to North America. This year&#39;s comparable period, the number skyrocketed to more than 2.4 million cans, he said.
&quot;Abbott looks to have lost around 2000 basis points of share, going from 40% share to 20%,&quot; Barclays analyst Warren Ackerman estimated, referring to the U.S. market.
Reckitt Benckiser Group (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/rbgly#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RBGLY</a>), the No.2 player in the U.S, told Reuters that it now accounts for more than 50% of the total baby formula supply in the country.
Photo via Wikimedia Commons

GPDNF

Danone Scales Up Baby Formula Shipments To US To Combat Shortage: Reuters

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26892376/hertz-chief-sees-business-travel-recovery-chocking-all-ready-strained-supply" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Hertz Chief Sees Business Travel Recovery Choking Already Strained Used Car Supply</a>
<ul>
<li>Hertz Global Holdings, Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/htz#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HTZ</a>) chief Stephen Scherr saw a recovery in business travel and possibly choking the already packed supplies of rental cars, CNBC&rsquo;s Jim Cramer reports.</li>
<li>However, the rebound of business travel is still in its early stages compared to leisure travel, Scherr said.</li>
<li>He saw the in-bound visitor from outside the U.S. come back when complete relaxation of some Covid limitations was in place.</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/04/26892048/us-canadian-oil-companies-struggle-to-find-workers-despite-boom-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US, Canadian Oil Companies Struggle To Find Workers Despite Boom</a>
<ul>
<li>Governments are pushing oil and gas producers to increase output, with prices hovering around $100 a barrel amid a worldwide supply shortage, writes Reuters.</li>
<li>The shortage of workers limits how much producers in the U.S. and Canada can increase oil output as governments try to find ways to offset the effect of lost Russian barrels following the invasion of Ukraine.</li>
<li>Oil workers left the industry after the COVID-19 pandemic started. The U.S. unemployment rate has fallen to 3.6%, but there are still roughly 100,000 fewer oil and gas workers in the country than before the pandemic.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26893233/us-solar-industry-warns-against-slowdown-due-to-tariffs-on-solar-panel-imports" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Solar Industry Warns Against Slowdown Due To Tariffs On Solar Panel Imports</a>
<ul>
<li>The U.S. solar industry cautioned against a significant slowdown in project installations in 2022 triggered by global supply chain disruptions and new U.S. tariffs on panel imports from Southeast Asia.</li>
<li>Southern Company&rsquo;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/so#NYSE">SO</a>) Georgia Power utility bagged regulatory approval to delay five planned solar facilities adding up to 970 megawatts of capacity by November 2024.</li>
<li>The largest solar trade group looked to slash its 2022 and 2023 solar installation forecasts by 46%.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/04/26891738/a-look-at-why-tesla-again-recalled-model-3-cars-in-april" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Tesla Recalled Model 3 Cars In China In April Again - Read Why</a>
<ul>
<li>Tesla, Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) recalled 14,684 imported and locally made Model 3 cars in China on software problems as previously declared by the market regulator, Reuters reports.</li>
<li>The recall marked Tesla&rsquo;s second batch of recalls in April.</li>
<li>The regulator said that the lack of a display unit for the speed numbers under Track Mode could mislead drivers and cause collisions under extreme circumstances.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/04/26892258/china-united-states-negotiate-an-audit-deal-as-delistings-loom-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">China-United States Negotiate An Audit Deal to Avoid Delistings</a>
<ul>
<li>According to sources familiar with the matter, China and U.S. regulators are discussing operational details of an audit deal that Beijing intends to sign this year, in the latest attempt to keep Chinese companies listed on U.S. exchanges, reported Reuters.</li>
<li>Reuters source stated that a preliminary framework for audit supervision cooperation had been established, with China likely to classify less information as confidential, potentially letting more information into companies&rsquo; audit working papers.</li>
<li>China is also considering the details of onsite inspections by the Public Company Accounting Oversight Board (PCAOB), which would provide the U.S. audit regulator access to such data, stated three sources.</li>
</ul>
&nbsp;
Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26870918/could-biden-put-the-smoke-out-on-tobacco-stocks" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Could Biden Extinguish Tobacco Stocks With This Regulation?</a>
<ul>
<li>The U.S. government could be speeding up a plan to ban menthol cigarettes, according to a new report. Here&rsquo;s the new timeline and two stocks that could be affected.</li>
<li>The Biden Administration could advance a ban on menthol cigarettes, according to a Wall Street Journal report. The administration under President Joe Biden has worked on pushing forward a plan that was started under President Barack Obama and later shelved by President Donald Trump.</li>
<li>The Food and Drug Administration is expected to publish a report on Thursday that would lay out new rules and details for a plan. The plan would lay out the timeline for a national ban on menthol cigarettes and flavored cigars.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/04/26892970/labor-department-concerned-about-fidelitys-plan-to-include-bitcoin-on-the-401-k-menu-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Labor Department Concerned About Fidelity&rsquo;s Plan To Include Bitcoin On 401(K) Accounts</a>
<ul>
<li>Fidelity Investments recently became the first major retirement-plan provider to allow investors to include a bitcoin account in their 401(k).</li>
<li>A senior administrator at the Labor Department stated that Fidelity Investments&rsquo; plan to allow clients to place bitcoin in their 401(k) plans jeopardizes Americans&rsquo; financial security.</li>
<li>We have grave concerns with what Fidelity has done,&rdquo; Ali Khawar, acting assistant secretary of the Employee Benefits Security Administration, stated in an interview with The Wall Street Journal.</li>
</ul>
&nbsp;
Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26893114/reckitt-benckiser-hikes-prices-to-compensate-for-falling-demand" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reckitt Benckiser Hikes Prices To Compensate For Falling Demand</a>
<ul>
<li>Reckitt Benckiser Group Plc&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/rbgly#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RBGLY</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/rbgpf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RBGPF</a>) has hiked prices across its product range to pass an increase in raw material costs onto customers.</li>
<li>The move comes after the consumer giant said that inflation on the cost of goods sold has increased from low teens to high teens based on current commodity pricing.</li>
<li>The report noted the price rise is also seen as a way to compensate for a fall in demand for disinfectants now that COVID restrictions have been eased.</li>
</ul>
&nbsp;
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26889798/tesla-rival-volkswagen-to-install-up-to-8-000-fast-charging-spots-in-europe-by-2024" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Volkswagen Aims To Install 8,000 EV Fast-Charging Spots In Europe By 2024</a>
<ul>
<li>Volkswagen Group&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/vwagy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VWAGY</a>) said on Thursday it plans to install up to 8,000 fast charging points for electric vehicles across Europe in partnership with the U.K.-based oil major&nbsp;BP Plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bp#NYSE">BP</a>).</li>
<li>The deal will see BP deploy the mobile chargers made by Volkswagen at its network of petrol stations.</li>
<li>Up to 4,000 charge points are planned within 24 months in Germany and the U.K., and the rest in other European countries by the end of 2024.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26890317/as-dogecoin-flashes-green-doge-holders-can-now-pay-their-rent-in-their-favorite-crypto" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Why Dogecoin Is Edging Higher Today: Earnings Boost, Rental Fillip And More</a>
<ul>
<li>Dogecoin&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) traded 1.25% higher at $0.14 over 24 hours leading up to early Friday morning.</li>
<li>DOGE traded higher alongside major cryptocurrencies as the global cryptocurrency market cap rose 0.2% to $1.8 trillion at press time.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/04/26890298/forex-headwinds-4b-8b-supply-chain-impact-margin-trajectory-and-more-6-key-takeaways-from-apples-ear" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Supply Chain Impact, Forex Headwinds, Margin Outlook And More: 6 Key Takeaways From Apple&rsquo;s Earnings Call</a>
<ul>
<li>Apple, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) on Thursday reported better-than-expected quarterly results, hiked its dividend, and announced a $90 billion buyback.</li>
<li>Ordinarily, this would have been a perfect trigger for a rally, but Apple&rsquo;s stock was languishing following the earnings report.</li>
<li>Read six key takeaways from the company&rsquo;s earnings call that may have implications for its growth in the future.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26889603/elon-musk-said-to-have-discussed-with-bankers-job-cuts-monetize-tweets-to-boost-profits-at-twitter" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Elon Musk Talked Twitter Job Cuts, Monetizing Posts With Bankers To Boost Profits: Report</a>
<ul>
<li>Tesla Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsla#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSLA</a>) CEO Elon Musk told bankers he plans to cut jobs and costs at&nbsp;Twitter Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/twtr#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TWTR</a>) to boost its bottom line, as he plans to take the microblogging site private for $44 billion, Bloomberg News reported on Thursday, citing people familiar with the matter.</li>
<li>Musk did not reveal details about which departments or positions might be affected during the call with bankers, according to the report.</li>
<li>The billionaire entrepreneur, however, discussed ideas to monetize the platform and boost cash flow, including potential subscription services to drive recurring revenue.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26888823/elon-musk-sold-31-5m-shares-worth-2-77b-in-tesla-says-no-more-further-sales-planned" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BREAKING: Elon Musk Sells $3.9B Of Tesla Shares, Says No &lsquo;Further Sales&rsquo; Planned</a>
<ul>
<li>Tesla Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) CEO Elon Musk on Thursday confirmed the sale of 4.41 million shares in the electric vehicle firm, worth up to $3.9 billion, and said he does not plan to sell more shares.</li>
<li>The billionaire entrepreneur sold shares in multiple transactions, possibly to fund his $44 billion acquisition of&nbsp;Twitter Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/twtr#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TWTR</a>).</li>
<li>Regulatory filings showed Musk sold shares at prices ranging from $872 to $976.74 in a set of five transactions.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/04/26891907/walmart-launches-activewear-swim-brand-with-michelle-smith-and-stacey-griffith" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Walmart Launches Activewear &amp; Swim Brand With Michelle Smith, Stacey Griffith</a>
<ul>
<li>Walmart Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>) has unveiled its activewear and swim brand, Love &amp; Sports, created in partnership with fashion designer Michelle Smith and indoor cycling instructor Stacey Griffith.</li>
<li>The activewear collection is available at Walmart.com and in 1,500 Walmart stores.</li>
</ul>
Photo via Wikimedia Commons

$BTC

$DOGE

$ETH

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DIDI

FSLR

TSLA

TWTR

VWAGY

Morning Brief: Top Financial Stories Dominating on Friday, April 29

<ul>
<li>Reckitt Benckiser Group Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgly#OTC">RBGLY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rbgpf#OTC">RBGPF</a>) has hiked prices across its product range to pass an increase in raw material costs onto customers,&nbsp;<a class="editor-rtfLink" href="https://www.ft.com/content/c57904c9-31b5-40b1-9dcf-fdc4436b6b8d" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">the Financial Times reported</a>.</li>
<li>The move comes after the consumer giant said that&nbsp;<a class="editor-rtfLink" href="https://www.reckitt.com/media/10198/q1-2022-trading-update.pdf" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">inflation on the cost of goods</a>&nbsp;sold has increased from low teens to high teens based on current commodity pricing.</li>
<li>The report noted the price rise is also seen as a way to compensate for a fall in demand for disinfectants now that COVID restrictions have been eased.</li>
<li>The company reported Q1 like-for-like sales rose by 5.6% to &pound;3.4 billion.</li>
<li>The report noted that&nbsp;Unilever PLC&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ul#NYSE">UL</a>) had also announced an 8% price hike after the war in Ukraine contributed to higher input costs.</li>
<li>Price Action:&nbsp;RBGLY shares closed higher by 0.79% at $15.68 on Thursday.</li>
<li>Photo Via&nbsp;Wikimedia Commons</li>
</ul>

Reckitt Benckiser Hikes Prices To Compensate For Falling Demand: FT

The following are the M&amp;A deals, rumors and chatter circulating on Wall Street for Wednesday, October 25, 2017.
The Trade Desk Acquires Assets Of Adbrain
The Deal:
Trade Desk Inc (NASDAQ: <a class="ticker" href="/stock/ttd#NASDAQ">TTD</a>) announced it has acquired the assets of Adbrain. Financial terms were not disclosed.
Adbrain provides intelligent identity resolution technology, used by digital marketers and their partners to create advanced customer ID maps.
Trade Desk closed at $62.57, down $0.74.
Sprint, T-Mobile in Talks for All-Stock Deal
The Rumor:
Sprint Corp (NYSE: <a class="ticker" href="/stock/s#NYSE">S</a>) and T-Mobile US Inc (NASDAQ: <a class="ticker" href="/stock/tmus#NASDAQ">TMUS</a>) are in discussions regarding an all-stock transaction, according to sources as reported by the Wall Street Journal on Wednesday. T-Mobile&#39;s parent company, Deutsche Telekom AG (OTC:DTKEY) will control the combined company, with T-Mobile CEO John Legere at the helm, sources said. Sprint Chairman Masayoshi Son will be co-chairman.
A deal could be announced within the next few weeks, the sources said.
T-Mobile closed Wednesday at $61.93, down 35 cents. Sprint closed at $7.10, up 10 cents.
Pfizer Planning Auction of Consumer Health Business in November
The Rumor:
Pfizer Inc. (NYSE: <a class="ticker" href="/stock/pfe#NYSE">PFE</a>) is planning an auction process for its consumer healthcare business in November, according to sources as reported by Reuters. GlaxoSmithKline (NYSE: <a class="ticker" href="/stock/gsk#NYSE">GSK</a>) and Reckitt Benckiser (OTC: <a class="ticker" href="/stock/rbgpf#OTC">RBGPF</a>) are said to be considering a bid, the sources said. Pfizer announced on Oct. 10 it was considering strategic options for the unit.
Pfizer closed at $36.16, down $0.11.
Dynegy Near Deal to be Acquired
The Rumor:
Shares of Dynegy Inc. (NYSE: <a class="ticker" href="/stock/dyn#NYSE">DYN</a>) spiked as high as $11.19 on Wednesday, following a report from the Wall Street Journal that Vistra Energy Corp. is in talks with Dynegy regarding a potential merger. A deal could be announced as early as next week, according to sources. The companies have been talking since last spring, the sources said.
A combined company could be worth more than $20 billion, according to the report.
Dynegy closed at $10.78, up $1.57.

Rumors

Pre-Market Outlook

TMUS

Wall Street's M&A Chatter From October 25: Sprint-T-Mobile, Trade Desk, Pfizer, Dynegy

The following are the M&amp;A deals, rumors and chatter circulating on Wall Street for Friday, July 14, through Sunday, July 16, 2017.
Washington Cos. in Advanced Talks with Dominion Diamond
The Rumor:
Dominion Diamond Corp (NYSE: <a class="ticker" href="/stock/ddc#NYSE">DDC</a>) is in advanced, friendly talks with the Washington Companies regarding a sweetened cash offer, over and above the current $13.50 bid, according to sources as reported by Reuters on Friday. The talks are centered around working out a price for a deal, which could be announced in the coming weeks, the sources said.
Dominion responded to the reports, reiterating that its Board of Directors had formed a Special Committee to review strategic alternatives focused on maximizing shareholder value and said it has not made any decisions at this time.
Dominion Diamond closed at $13.48, up 72 cents.
H&amp;E Equipment Services to Acquire Neff for $21.07/Share in Cash
The Deal:
H&amp;E Equipment Services, Inc. (NASDAQ: <a class="ticker" href="/stock/hees#NASDAQ">HEES</a>) and Neff Corp (NYSE: <a class="ticker" href="/stock/neff#NYSE">NEFF</a>) announced Friday that they have entered into a definitive merger agreement under which H&amp;E Equipment Services will acquire Neff for $21.07 in cash per share of Neff common stock, for a total enterprise value of approximately $1.2 billion, including approximately $690 million of net debt. The transaction is expected to close in the late Q3 or early Q4 of 2017.
Neff closed at $20.80, up $1.10.
Mobileye Reports Receives Acceptable Tax Ruling from Israel Tax Authority Ruling Regarding Acquisition by Intel
The Tax Ruling:
Mobileye NV (NYSE: <a class="ticker" href="/stock/mbly#NYSE">MBLY</a>) announced Friday that the Israel Tax Authority has issued an acceptable tax ruling with respect to the tax treatment of its potential acquisition by Intel Corporation (NASDAQ: <a class="ticker" href="/stock/intc#NASDAQ">INTC</a>) pursuant to the purchase agreement dated March 12, 2017. As a result of receipt of the tax ruling and the adoption of certain shareholder resolutions at the general meeting of Mobileye shareholders in June, the minimum number of Mobileye shares that must be validly tendered and not withdrawn prior to the expiration of the tender offer has been lowered from 95 percent to 67 percent.
The transaction is expected to close during Q3 of 2017.
Mobileye closed at $63.33, up 28 cents.
Unilever, Hormel Compete to Acquire Reckitt Food Division
The Rumor:
Unilever (NYSE: <a class="ticker" href="/stock/un#NYSE">UN</a>) (NYSE: <a class="ticker" href="/stock/ul#NYSE">UL</a>) is competing with Hormel Foods Corp (NYSE: <a class="ticker" href="/stock/hrl#NYSE">HRL</a>) to acquire the food unit of Reckitt Benckiser (OTC: <a class="ticker" href="/stock/rbgpf#OTC">RBGPF</a>), according to a report from the UK Sunday Times. Sources say the deal for the owner of French&#39;s mustard, is likely to be valued at more than $2.9 billion.
Unilever closed at $15.90, up 61 cents, while Hormel rose 12 cents to close at $32.83.

HEES

INTC

MBLY

NEFF

Wall Street's M&A Chatter From July 14-16: Dominion Diamond, Unilever-Hormel-Reckitt, H&E Equipment-Neff, Mobileye-Intel

The following are the M&amp;A deals, rumors and chatter circulating on Wall Street for Thursday May 1, 2014:

Report AT&amp;T in Talks to Acquire DirecTV

The Rumor: AT&amp;T (NYSE: <a class="ticker" href="/stock/t#NYSE">T</a>) is said to have approached DirecTV (NASDAQ: <a class="ticker" href="/stock/dtv#NASDAQ">DTV</a>) regarding a potential acquisition, according to a report from the Wall Street Journal. The deal could be worth $40 billion, according to sources.

Spokespersons for both companies declined comment to Benzinga on the report.

DirecTV closed Thursday at $80.76, a gain of 4% on more than twice average volume.

Pfizer May Raise Bid for AstraZeneca to $106M

The Rumor: Pfizer (NYSE: <a class="ticker" href="/stock/pfe#NYSE">PFE</a>) plans to raise its bid to around $106 million for AstraZeneca (NYSE: <a class="ticker" href="/stock/azn#NYSE">AZN</a>), according to sources being reported by Bloomberg. The offer would value AstraZeneca at more than £50 per share. Sources say, the new offer could come as early as next week.

AstraZeneca confirmed on April 28 that they had rejected Pfizer's $76.62 per share offer.

AstraZeneca closed Thursday at $81.09, a gain of 2.5%. Pfizer closed at $31.15, a loss of $0.13.

Microsoft Acquires Cloud-Computing Company GreenButton

The Deal: Microsoft (NASDAQ: <a class="ticker" href="/stock/msft#NASDAQ">MSFT</a>) <a href="http://blogs.msdn.com/b/windowsazure/archive/2014/05/01/big-compute-for-microsoft-azure-announcing-the-acquisition-of-greenbutton.aspx">announced on its blog</a> Thursday the acquisition of cloud computing company Greenbutton. Microsoft says the existing GreenButton service will no longer be available to new customers and a new service integrated in Azure will be launched later in the year.

Terms of the deal were not disclosed.

Microsoft closed Thursday at $40.00, a loss of $0.40. 

Report Bayer Near Deal to Acquire Merck Consumer Unit

The Rumor: Bayer (OTC: <a class="ticker" href="/stock/bayry#OTC">BAYRY</a>) is reportedly close to a deal to acquire the consumer products unit from Merck (NYSE: <a class="ticker" href="/stock/mrk#NYSE">MRK</a>), according to sources reported by Bloomberg. According to sources, the bid will be around $14 billion.

Reckitt Benckiser (OTC: <a class="ticker" href="/stock/rbgpf#OTC">RBGPF</a>) said on Wednesday it was no longer in talks with Merck regarding a deal.

Merck closed Thursday at $59.62, a gain of almost 2%.

MSFT

Benzinga's M&A Chatter for Thursday May 1, 2014

Asset Sales

Reckitt Benckiser Confirms it is No Longer in Talks with Merck Regarding Bid for Consumer Health Business

The following are the M&amp;A deals, rumors and chatter circulating on Wall Street for Monday April 28, 2014:

Forest Labs to Buy Furiex Pharma for $1.1B, Plus CVR Up to $30/Share

The Deal: Forest Laboratories (NYSE: <a class="ticker" href="/stock/frx#NYSE">FRX</a>) and Furiex Pharmaceuticals (NASDAQ: <a class="ticker" href="/stock/furx#NASDAQ">FURX</a>) announced Monday that Forest has agreed to acquire Furiex for $95 per share, or approximately $1.1 billion in cash. In addition, up to $30 per share in Contingent Value Right's may be payable based on the status of Furiex's eluxadoline.

The deal is expected to close in Q2 or Q3 of 2014 and will not interfere with Actavis (NYSE: <a class="ticker" href="/stock/act#NYSE">ACT</a>) previously announced acquisition of Forest Labs.

Forest Laboratories closed Monday at $89/50, a loss of $0.34. Furiex shares rose 285, closing at $103.05.

Pfizer Confirms $76.62/Share Offer for AstraZeneca

The Offer: Shares of AstraZeneca (NYSE: <a class="ticker" href="/stock/azn#NYSE">AZN</a>) surged higher Monday, as Pfizer confirmed that it previously submitted a preliminary, non-binding offer of $76.62 per share to the AstraZeneca Board in January 2014, to acquire the UK pharmaceutical company.

AstraZeneca's Board stated that Pfizer's proposal "significantly undervalued AstraZeneca and its prospects." AstraZeneca wrote to Pfizer on January 12, 2014 that it was rejecting the offer. AstraZeneca said Pfizer notified the Board on January 15, that it was no longer considering a bid for AstraZeneca.

AstraZeneca closed Monday at $77.01, a gain of 12%, while Pfizer gained 4%, closing at $32.04. 

Report GE Deal for Alstom More Likely than Siemens Deal

The Offers: General Electric's (NYSE: <a class="ticker" href="/stock/ge#NYSE">GE</a>) deal to acquire the French power plant and railcar manufacturer Alstom (OTC: <a class="ticker" href="/stock/alsmy#OTC">ALSMY</a>) is closer to reality, than a competing proposal from Siemens (NYSE: <a class="ticker" href="/stock/si#NYSE">SI</a>), according to Bloomberg. Although GE' offer is binding, while Siemen's offer is an expression of interest, French President Hollande has urged Alstom to consider a rival offer from Siemens.

Siemen's proposal would have them acquire Alstom's thermal power, renewable power and grid units, while contributing significant parts of its rail systems operations to Alstom.

GE closed Monday at $26.78, a gain of $0.18. Siemens closed at $129.35, a loss of 2.5%.

TIBCO Software Acquires Jaspersoft for $185M

The Deal: TIBCO Software (NASDAQ: <a class="ticker" href="/stock/tibx#NASDAQ">TIBX</a>) announced Monday it has acquired provider of embedded business intelligence and reporting software, Jaspersoft for total consideration of $185 million. 

TIBCO Software closed Monday at $19.08, a loss of $0.27. 

Reckitt Benckiser Confirms Talks With Merck Regarding Bid for Consumer Health Business

The Talks: Reckitt Benckiser (OTC: <a class="ticker" href="/stock/rbgpf#OTC">RBGPF</a>) confirmed Monday that it is in discussions with Merck (NYSE: MRL) regarding an offer for its consumer health business. 

Merck is also rumored to be in talks with Bayer (OTC: <a class="ticker" href="/stock/bayry#OTC">BAYRY</a>) to sell the division for $14 billion.

Merck closed Monday at $56.68, a loss of 1%.

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