Streetbeat News

Regulatory

FXI

SPY

TikTok creators have filed a lawsuit to prevent the enforcement of a U.S. law that mandates the platform to be divested or face a ban. This legal action underscores the ongoing tension between TikTok, owned by ByteDance, a Chinese company, and U.S. regulatory authorities concerned about data privacy and national security. The outcome of this lawsuit could have significant implications for TikTok's operations in the U.S. and for U.S.-China relations.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 7:23 pm

UUUU

President Joe Biden signed a law banning enriched uranium imports from Russia, aiming to cut off Moscow's war funding in Ukraine and boost North American uranium miners. Energy Fuels (UUUU) sees this as a step towards reducing dependency on Russian nuclear fuel. The law also unlocks $2.7 billion for the U.S. domestic conversion and enrichment supply chain, indirectly benefiting domestic miners.

Portfolio Pulse from Matt Whittaker

May 14, 2024 | 7:07 pm

LMT

The Lockheed-Boeing alliance is facing penalties from the U.S. Air Force due to a delay in launch schedules, with specific details on the withheld fees not disclosed. The Air Force has cited a 'schedule slip' as the reason for the penalties.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 7:04 pm

INO

Stephens initiated coverage on INOVIO Pharmaceuticals Inc (NASDAQ:INO) with an Overweight rating and a price target of $20, highlighting the company's diversified clinical pipeline and the potential of its lead program INO-3107 for Accelerated Approval by the FDA. INO-3107, aimed at treating recurrent respiratory papillomatosis (RRP), could become the first non-surgical treatment for RRP. The FDA marketing application submission for INO-3107 is expected in the second half of 2024. The company's DNA Medicines pipeline also includes early-stage programs for various diseases. The analyst believes the leadership's efficiencies will de-risk the platform technology.

Portfolio Pulse from Vandana Singh

May 14, 2024 | 6:37 pm

ASND

The FDA has extended the review period for Ascendis Pharma's TransCon PTH, a treatment for adults with hypoparathyroidism, by three months. The new Prescription Drug User Fee Act (PDUFA) goal date is now set for August 14, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 6:37 pm

Edwards Lifesciences Corporation (NYSE:EW) faces an EU antitrust complaint from Indian competitor Meril, alleging anti-competitive behavior over heart valve patents. This could increase scrutiny from EU regulators, amid broader efforts to ensure competition and affordability in healthcare. Edwards, known for its TAVR device, denies the accusations, citing past legal victories over Meril's Myval system. The European Commission is investigating Edwards' business practices.

Portfolio Pulse from Vandana Singh

May 14, 2024 | 6:33 pm

AAL

DAL

LUV

SAVE

UAL

ULCC

Over 160 US lawmakers have called on the Federal Mediation Board to assist 80,000 flight attendants in securing new contracts, according to a letter cited by Reuters. This move underscores the significant labor issues within the airline industry and could impact negotiations and operations for major airlines.

Portfolio Pulse from Charles Gross

May 14, 2024 | 6:14 pm

AMC

GME

IWM

PLUG

SPWR

UUP

Wall Street trades flat amid mixed producer inflation data and anticipation for consumer inflation report. Fed Chair Powell sees prolonged current monetary policy, while President Biden imposes significant tariffs on Chinese imports. The U.S. dollar index and Treasury yields fell, while small caps and meme stocks like GameStop and AMC surged. Commodities saw mixed movements, and Bitcoin dropped. Key ETFs and stocks like Insulet, Plug Power, SunPower, and Delcath Systems reacted to various news, including earnings and significant financial developments.

Portfolio Pulse from Piero Cingari

May 14, 2024 | 5:59 pm

BSGM

BioSig Technologies' shares are trading higher following the announcement that the company has regained compliance with Nasdaq requirements.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 5:56 pm

BTCUSD

DOGEUSD

ETHUSD

SOLUSD

April's Producer Price Inflation (PPI) data, showing a 0.5% month-over-month increase, led to a downturn in cryptocurrency markets, with Bitcoin sliding 2%. Federal Reserve Chair Jerome Powell described the data as 'mixed', and despite some cryptocurrencies like Worldcoin and Render experiencing significant losses, technical analysis suggests a potential rebound for Bitcoin.

Portfolio Pulse from Khyathi Dalal

May 14, 2024 | 5:51 pm