Streetbeat News

Regulatory

MRNA

The FDA has informed Moderna that it will not complete its review of MRNA-1345, a vaccine candidate, by the previously set PDUFA date of May 12, due to administrative constraints.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 11:05 am

ARKB

BITB

BTCO

FBTC

GBTC

IBIT

Bitcoin spot ETFs experienced a net outflow of $11.29 million on May 9, with significant movements in individual funds such as Grayscale Bitcoin Trust and BlackRock Bitcoin Trust. The market is adjusting to expectations of Federal Reserve rate cuts, maintaining a cautiously optimistic outlook on Bitcoin.

Portfolio Pulse from Murtuza Merchant

May 10, 2024 | 11:02 am

AHI

Armata Pharmaceuticals, Inc. (AHI) received a delisting notification from Nasdaq due to an equity deficiency. The company plans to appeal the decision and address the $1.15 million shortfall with a $1.96 million placement from Oakley Capital and a US shelf offering.

Portfolio Pulse from Charles Gross

May 10, 2024 | 10:11 am

EDIT

Editas Medicine announced it will present preclinical data showcasing in vivo capabilities for developing transformative gene editing medicines at the ASGCT Annual Meeting in Baltimore and virtually. This presentation highlights Editas Medicine's progress in the field of gene therapy.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 10:06 am

RCKT

Rocket Pharmaceuticals presented long-term data updates from its lentiviral vector hematology portfolio at ASGCT, showing positive results for KRESLADI in LAD-I patients and RP-L102 in Fanconi Anemia Phase 1/2 trial. KRESLADI showed 100% survival without HSCT from 18 to 45 months, and RP-L102 demonstrated genetic and phenotypic correction with hematologic stabilization up to 42 months.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 10:04 am

COIN

HOOD

Veteran trader Peter Brandt predicts a severe regulatory crackdown on crypto staking, describing it as a "bloodbath." Concerns arise from potential actions by the SEC, OCC, and U.S. Treasury. Legal challenges and regulatory scrutiny have already impacted companies like Coinbase and platforms trading Bitcoin and Ethereum, with Coinbase facing a court ruling against its staking program and Robinhood experiencing increased crypto trading volume amidst regulatory notices.

Portfolio Pulse from Benzinga Neuro

May 10, 2024 | 8:46 am

MSFT

The House Committee on Homeland Security has summoned Microsoft Corp (NASDAQ:MSFT) President Brad Smith to testify on cybersecurity following recent U.S. government email hacks. The hearing, set for May 22 in Washington, aims to address breaches involving high-ranking officials' email accounts. Microsoft, facing scrutiny over its cybersecurity measures, has made operational adjustments and tied executive pay to anti-hacking milestones. Despite these efforts, a report criticized Microsoft's security practices, prompting a major strategy overhaul.

Portfolio Pulse from Benzinga Neuro

May 10, 2024 | 6:16 am

META

The Australian government has announced a parliamentary inquiry into Meta Platforms Inc.'s Facebook, ByteDance's TikTok, and Elon Musk's X, focusing on their handling of violent content and news payment issues. This move highlights concerns over social media's influence and lack of regulation, with specific incidents like X's refusal to remove violent content sparking legal battles. The inquiry aims to hold these platforms accountable for their decisions.

Portfolio Pulse from Benzinga Neuro

May 10, 2024 | 3:45 am

AVGO

INTC

QCOM

China's Semiconductor Manufacturing International Corp (SMIC) reported a significant drop in profit margin to a 15-year low, despite a 19.7% revenue increase in Q1 2024. The decline to 13.7% is attributed to U.S. export controls and expansion costs. SMIC anticipates further margin declines as it focuses on meeting demand from clients like Huawei. U.S. firms Intel, Broadcom, and Qualcomm continue to see significant revenue from China despite geopolitical tensions.

Portfolio Pulse from Benzinga Neuro

May 10, 2024 | 2:58 am

TSLA

Two Tesla Cybertrucks were detained by Lithuanian customs on suspicion of being smuggled into Russia, violating international sanctions. The vehicles, part of the first production units, were stopped at the Salčininku checkpoint bordering Lithuania and Belarus. A pre-trial investigation into smuggling and sanction violations has been initiated. Despite not being for sale in Europe, Tesla plans a marketing tour of the Cybertruck in the region. Russian President Vladimir Putin previously praised Tesla CEO Elon Musk, and at least one Cybertruck has been confirmed to have been smuggled into Russia via Belarus.

Portfolio Pulse from Chris Katje

May 09, 2024 | 11:05 pm