Streetbeat News

Regulatory

CRMD

CorMedix announced that the Centers for Medicare & Medicaid Services (CMS) has granted pass-through status for DefenCath under the Hospital Outpatient Prospective Payment System (OPPS).

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 12:34 pm

MGRX

MangoRx has received a notice of acceptance for its Australian Patent Application No. 2020235666. This development could potentially expand the company's market reach and enhance its intellectual property portfolio.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 12:31 pm

FXE

The European Central Bank (ECB) cut interest rates by 25 basis points, marking the first reduction since 2016 for main refinancing operations and marginal lending rates. Despite the cut, the ECB projects inflation to remain above target well into next year. The euro, tracked by the Invesco CurrencyShares Euro Currency Trust (NYSE:FXE), rose slightly following the announcement.

Portfolio Pulse from Piero Cingari

June 06, 2024 | 12:29 pm

SPY

Economist Mohamad El-Erian suggests that the U.S. Federal Reserve should cut interest rates in July due to signs of slowing economic growth. He believes the Fed is hesitant due to past mistakes. The SPDR S&P 500 ETF Trust (SPY) saw a slight increase in premarket trading.

Portfolio Pulse from Shanthi Rexaline

June 06, 2024 | 12:25 pm

HOOD

Robinhood Markets, Inc. (NASDAQ:HOOD) has announced the acquisition of crypto exchange Bitstamp for $200 million. The deal, expected to close in the first half of 2025 pending regulatory approvals, will significantly expand Robinhood's presence in the crypto market by integrating Bitstamp's extensive customer base and product offerings.

Portfolio Pulse from Murtuza Merchant

June 06, 2024 | 12:23 pm

CTLT

HROW

Melt Pharmaceuticals has dosed the first patient in its Phase 3 trial for MELT-300, a non-IV, non-opioid sedation tablet for cataract surgery. The trial involves 528 patients and uses Catalent's Zydis® technology. Results are expected in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 12:19 pm

MSGM

MotorSport Games Inc. (NASDAQ: MSGM) shares surged over 20% in pre-market trading after the company announced it had regained compliance with NASDAQ listing requirements. The company has implemented a restructuring plan that reduced annual costs by $6.7 million and is focusing on revenue-driving initiatives such as the launch of 'Le Mans Ultimate' and a partnership for 'F1® Arcade' with Kindred Concepts.

Portfolio Pulse from Benzinga Neuro

June 06, 2024 | 12:18 pm

SPY

VGK

The European Central Bank (ECB) has raised its inflation forecasts for 2024 and 2025, indicating a more prolonged period of higher inflation in the Eurozone.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 12:18 pm

VGK

The European Central Bank (ECB) has cut its benchmark refinancing rate to 4.25% and the deposit facility rate to 3.75%.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 12:17 pm

BTCUSD

Standard Chartered forecasts Bitcoin could reach $100,000 by the U.S. presidential election and $150,000 by year-end if Trump wins. The Biden administration's recent approval of spot Ethereum ETFs is noted, but Trump's stance is seen as more crypto-friendly. Favorable Non-Farm Payrolls data could also propel Bitcoin to new highs.

Portfolio Pulse from Murtuza Merchant

June 06, 2024 | 12:11 pm