Streetbeat News

Regulatory

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

QIPT

Quipt Home Medical Corp. has filed a final base shelf prospectus in Canada and an amended registration statement in the U.S., allowing it to offer up to C$300 million in various securities over the next 25 months. This move enables the company to raise capital flexibly for its respiratory care-focused home medical equipment business.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 10:13 pm

ACIC

American Coastal Insurance Corporation (ACIC) has agreed to sell 100% of Interboro Insurance to Forza Insurance. The sale is pending approval from the New York Department of Financial Services and marks the completion of ACIC's run-off of its personal lines portfolio, allowing it to concentrate on its commercial specialty property portfolio. Additionally, Interboro and SageSure have signed service agreements for policy and claims administration.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:31 pm

TLLTF

TILT Holdings Inc. (OTC:TLLTF) has entered into a financing agreement to expand its subsidiary, Standard Farms, in Pennsylvania. The deal allows borrowing up to $10.5 million with escalating interest rates starting at 20%, aimed at constructing dispensaries under a new permit. This strategic move is expected to strengthen TILT's market position in Pennsylvania, a state showing resilience in cannabis sales despite broader market downturns. TILT's financials indicate a leveraged but manageable position, with a need to address liquidity challenges.

Portfolio Pulse from Nicolás Jose Rodriguez

May 09, 2024 | 9:19 pm

ANAB

AnaptysBio, Inc. (NASDAQ:ANAB) announced positive results from its GEMINI-1 and GEMINI-2 Phase 3 trials of imsidolimab for treating generalized pustular psoriasis (GPP). In GEMINI-1, 53% of patients receiving a 750mg IV dose achieved clear or almost clear skin at Week 4. In GEMINI-2, patients on monthly maintenance dosing of imsidolimab maintained clear skin with no flares, while those on placebo saw a 63% flare rate. Safety profiles were consistent across trials. AnaptysBio plans to out-license imsidolimab in 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:06 pm