??Cisco plans additional layoffs, US Judge dismisses consumer lawsuit against Alaska Airlines and Hawaiian merger and more.

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Cisco is set to cut thousands of jobs in its second round of layoffs this year, as the company shifts its focus to growth areas like cybersecurity and AI, according to sources. Pfizer announced on Monday that its RSV vaccine, Abrysvo, generated a strong immune response in a late-stage study involving adults aged 18 and older with compromised immune systems. A U.S. judge dismissed a lawsuit aiming to block Alaska Airlines' $1.9 billion acquisition of Hawaiian Airlines. A U.S. judge announced plans to order Google to give Android users more options for downloading apps but won't interfere with Google's overall business operations. Chipotle’s future may be more stable than some shareholders feared after CEO Brian Niccol’s departure.

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Cisco plans additional layoffs, marking its second round of job cuts this year

Cisco is set to cut thousands of jobs in its second round of layoffs this year, as the company shifts its focus to growth areas like cybersecurity and AI, according to sources. The number of layoffs could be similar to or slightly higher than the 4,000 jobs cut in February, with an announcement expected as early as Wednesday. Cisco, which had around 84,900 employees as of July 2023, is diversifying its business due to slow demand and supply chain issues in its core networking equipment sector. This includes its $28 billion acquisition of cybersecurity firm Splunk in March and investments in AI startups. The layoffs are part of a broader trend in the tech industry, where over 126,000 people have been laid off across 393 companies this year.

Pfizer's RSV vaccine proves effective in immunocompromised adults

Pfizer announced on Monday that its RSV vaccine, Abrysvo, generated a strong immune response in a late-stage study involving adults aged 18 and older with compromised immune systems. A single 120-microgram dose produced strong neutralizing antibodies against both RSV-A and RSV-B subtypes across all study groups. The vaccine was well-tolerated, with a safety profile consistent with previous studies. Pfizer plans to submit the data for regulatory review. The study included 203 adults with lung cancer, end-stage kidney disease, autoimmune disorders, and solid organ transplants—groups at high risk for severe RSV. Currently, Abrysvo is approved for adults 60 and older and for pregnant women in their third trimester to protect their babies. RSV, which typically causes cold-like symptoms, is a leading cause of pneumonia in toddlers and older adults, resulting in 177,000 hospitalizations and 14,000 deaths annually in the U.S.

US Judge dismisses consumer lawsuit against Alaska Airlines and Hawaiian merger

A U.S. judge dismissed a lawsuit aiming to block Alaska Airlines' $1.9 billion acquisition of Hawaiian Airlines. The plaintiffs claimed the deal would reduce routes and raise prices, but Chief U.S. District Judge Derrick Watson ruled that they lacked legal standing, as they didn't demonstrate a direct harm. Alaska Airlines welcomed the decision, stating the merger would benefit consumers. The plaintiffs plan to appeal, while the merger still awaits regulatory review by the U.S. Justice Department. Eight passengers had sued, arguing the deal would harm competition, but Alaska Airlines argued the merger would expand travel options.

US judge rules "monopolist" Google must face App Store reforms

A U.S. judge announced plans to order Google to give Android users more options for downloading apps but won't interfere with Google's overall business operations. This decision follows a jury verdict in favor of "Fortnite" maker Epic Games, which accused Google of monopolizing app distribution on Android devices. The judge criticized Google's objections to the proposed changes and indicated he would issue a ruling to maximize user and developer flexibility outside the Play Store. The ruling is expected in the coming weeks, along with the establishment of a committee to oversee its implementation. Google and Epic declined to comment.

Chipotle investors expect growth and stability after CEO Niccol's departure

Chipotle’s future may be more stable than some shareholders feared after CEO Brian Niccol’s departure. The company lost nearly $6 billion in market value following the news that Niccol will leave to become Starbucks’ CEO. However, Chipotle’s COO, Scott Boatwright, will step in as interim CEO, providing steady leadership. Bill Ackman, whose Pershing Square Capital holds a 2.1% stake in Chipotle, expressed confidence in the team Niccol built. Under Niccol and Boatwright, Chipotle improved food quality and consistency, boosting sales and profits. While it remains to be seen how the company will fare under Boatwright, Chipotle shares rose 3.8% on Thursday and are up 19% this year. Ackman noted that a great CEO leaves behind a strong company, and he believes Niccol has done just that. Boatwright, who joined Chipotle in 2017, has helped the company’s shares rise 243% over the past five years, with steady growth in sales and a focus on fresh ingredients following the 2015 E. coli outbreaks.

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