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PENN

PENN Entertainment, Inc. has announced the successful launch of ESPN BET, an online sportsbook, in 17 states where it offers online sports betting. The platform, available on mobile (iOS and Android) and web, is a collaboration between PENN and ESPN, leveraging PENN's operational expertise and ESPN's brand. ESPN BET is powered by Penn Interactive Gaming Platform, a proprietary technology developed in-house. PENN's online casino is also integrated into ESPN BET in four states. This follows a strategic alliance formed with ESPN in August 2023.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 3:01 pm

JPM

JPMorgan Chase & Co's digital token, JPM Coin, is expected to handle up to $10 billion in daily transactions in the next one to two years, a substantial increase from the current $1 billion. Since its 2019 launch, JPM Coin has processed $300 billion in transactions and recently expanded to include Euro transactions. The Onyx blockchain system, which powers JPM Coin, has introduced programmable payments, allowing for automated and real-time financial operations. Siemens has already utilized the system for account transfers.

Portfolio Pulse from Khyathi Dalal

November 15, 2023 | 2:58 pm

CMMB

GLBE

HRTX

ISPR

JGGC

TSHA

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Producer prices in the U.S. fell by 0.5% in October, the most significant drop since April 2020, defying expectations of a 0.1% rise. Chemomab Therapeutics, Heron Therapeutics, and Taysha Gene Therapies saw their stocks surge after various announcements, while Jaguar Global Growth Corporation, Ispire Technology, and Global-e Online experienced significant declines. Oil and gold prices fell slightly, while silver and copper rose. European shares were up, and Asian markets closed higher, with notable economic data from the Eurozone and Asia Pacific regions.

Portfolio Pulse from Lisa Levin

November 15, 2023 | 2:57 pm

AMGN

deCODE Genetics, a subsidiary of Amgen, published a study in the New England Journal of Medicine on actionable genotypes in the Icelandic population. The study found that 4% of Icelanders carry genotypes associated with serious diseases, which can significantly shorten lifespan. The Icelandic government is motivated by these findings to pursue a nationwide precision medicine effort. Amgen's deCODE has discovered genetic risk factors for many diseases and aims to improve disease diagnosis, treatment, and prevention.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:54 pm

EWW

TSLA

Elon Musk's Starlink has won a contract with the Mexican government worth up to 1.56 billion pesos to provide free internet services in Mexico until the end of 2026, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:31 pm

CRMD

CorMedix Inc. has received FDA approval for its product Defencath under New Drug Application (NDA) number 214520. This approval is a significant milestone for the company as it allows them to market Defencath in the United States.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:30 pm

COUR

GBTC

TWOU

Federal Reserve Chairman Jerome Powell reiterated the possibility of further rate hikes, surprising the market despite his consistent messaging. A US Treasury auction performed poorly, indicating decreased demand for government debt, and Moody's downgraded the US debt outlook to negative. Trucking rates have dropped, but this is attributed to an oversupply of trucking companies rather than weak consumer demand. Grayscale's Bitcoin Trust (GBTC) may become an ETF following discussions with the SEC, and Coursera (COUR) outperformed 2U (TWOU) due to a more sustainable business model.

Portfolio Pulse from Gary Brode

November 15, 2023 | 2:29 pm

LLY

NVO

Germany's BfArM is considering export restrictions on Novo Nordisk's Ozempic due to shortages. The drug, used for diabetes and weight loss, is in short supply, leading to temporary suspensions in Britain and Belgium. Export bans are in place in several EU countries, and BfArM urges prescribing GLP-1 receptor agonists only for diabetes. Novo Nordisk's stock (NVO) fell 0.96% in premarket trading.

Portfolio Pulse from Vandana Singh

November 15, 2023 | 2:17 pm

DIS

Disney's streaming service Hotstar set a new record with over 51 million viewers for a cricket match between India and New Zealand, surpassing its previous record of 44 million. Despite losing over 23 million subscribers in 2022, Disney is offering free streaming of ICC World Cup cricket matches in India. CEO Bob Iger is exploring options to continue operations in India, where TV business is profitable. Disney is in talks with entities like Reliance for its India business. Meanwhile, Viacom18, backed by Mukesh Ambani, is increasing competition for Hotstar by drawing talent from Star India and investing in streaming rights.

Portfolio Pulse from Anusuya Lahiri

November 15, 2023 | 2:15 pm

UPST

REGIONAL Federal Credit Union has partnered with Upstart (NASDAQ:UPST), an AI lending marketplace, to expand personal loan access in Northwest Indiana. REGIONAL joined the Upstart Referral Network in July 2022, allowing qualified applicants on Upstart.com to receive offers that align with REGIONAL's credit policies. This partnership aims to reach non-members and provide a modern, digital-first lending experience.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:13 pm