Streetbeat News

Products Services

ARKK

IWM

SPY

Cathie Wood's comparison of the current stock market to the 1930s Great Depression has drawn criticism from notable figures like Jim Chanos. Wood argues that the market is over-concentrated and predicts a broadening rally when interest rates fall. Despite her views, her Ark Innovation ETF (ARKK) has underperformed, while broader market ETFs like SPDR S&P 500 ETF Trust (SPY) and iShares Russell 2000 ETF (IWM) have shown gains.

Portfolio Pulse from Shanthi Rexaline

May 24, 2024 | 1:05 pm

ATRO

Astronics Corporation (NASDAQ:ATRO) has secured contracts worth up to $75 million for its Dual-Modem Modem Manager (ModMan) units, which will enhance inflight entertainment and connectivity. The contracts span 3 to 5 years, with purchase orders expected throughout the duration.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 1:01 pm

MULN

Mullen Automotive has announced GAMA as its distributor for Southeastern Europe, expanding its market reach in the region.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 1:01 pm

ACRDF

CGC

CRLBF

CURLF

MRMD

VRNOF

The U.S. House Committee on Agriculture approved an amendment to the new Farm Bill that would eliminate most hemp-derived products, including those with any level of THC. This amendment aims to close a loophole from the 2018 Farm Bill that allowed intoxicating hemp products like Delta-8 THC to be sold. The amendment has sparked a divide between the cannabis and hemp industries, with significant opposition from hemp advocates and some cannabis companies supporting stricter regulations.

Portfolio Pulse from Nina Zdinjak

May 24, 2024 | 12:59 pm

AETH

BETE

BETH

BTF

BTOP

EETH

FBTC

GBTC

IBIT

The SEC has approved applications to list eight U.S. Ethereum spot ETFs, signaling a significant shift in regulatory sentiment. Trading is expected to begin well ahead of November 2024. However, the debate around staking ETH for ETF shareholders remains unresolved. Ethereum-tracking funds and popular Bitcoin ETFs could see increased attention.

Portfolio Pulse from Surbhi Jain

May 24, 2024 | 12:55 pm

VSTM

Verastem Oncology shares are trading lower after the company announced the initiation of a rolling submission of a New Drug Application (NDA) to the FDA for accelerated approval of a combination therapy for recurrent KRAS mutant low-grade serous ovarian cancer.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 12:51 pm

TSLA

Elon Musk criticized the Biden administration's recent 100% tariff on Chinese EV imports, calling it a market distortion. This is a shift from his previous stance on trade barriers. The tariffs aim to protect American automakers from Chinese competition.

Portfolio Pulse from Anan Ashraf

May 24, 2024 | 12:48 pm

DECK

MRUS

On May 24th, Merus (MRUS), Guardant Health (GH), and Deckers Outdoor (DECK) saw significant stock price increases due to positive news. Merus announced a publication related to petosemtamab, Guardant Health received an FDA panel recommendation for its Shield blood test, and Deckers Outdoor reported strong Q4 financial results.

Portfolio Pulse from ryanfaloona@benzinga.com

May 24, 2024 | 12:46 pm

AMGN

BMY

VSTM

Verastem Oncology (NASDAQ: VSTM) announced interim results from its RAMP 205 trial, showing an 83% overall response rate in metastatic pancreatic cancer patients. The company also initiated a rolling submission of a New Drug Application (NDA) to the FDA for avutometinib and defactinib in recurrent KRAS mutant low-grade serous ovarian cancer. Verastem has collaborations with Amgen (NASDAQ: AMGN) and Bristol-Myers Squibb (NYSE: BMY) for other trials. VSTM shares are down 59% in premarket trading.

Portfolio Pulse from Vandana Singh

May 24, 2024 | 12:45 pm

STXS

Stereotaxis (NYSE:STXS) has received CE Mark recertification under the European Union's new Medical Device Regulation (MDR) framework, covering all its devices available in Europe.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 12:38 pm