Streetbeat News

Regulatory

CMGEF

HUYA

NTES

CMGE Technology Group Ltd. (OTC:CMGEF) announced a partnership with Guangzhou Chaojing Investment to tap into the e-sports market, aiming to leverage Chaojing's strong position in e-sports. This move comes as China's gaming sector sees renewed investor interest, with CMGE's stock rising 3.2% on the announcement and 30% over the past week. The partnership focuses on game development, operation, and promotion, targeting China's booming e-sports market and aiming for international expansion. CMGE's financial performance shows signs of recovery, with a modest adjusted profit in 2023 after a loss in 2022, amidst a broader rally in Chinese gaming stocks.

Portfolio Pulse from The Bamboo Works

April 30, 2024 | 1:46 pm

NXE

NexGen Energy Ltd. (NXE) has upsized its Australian offering to 20,161,290 common shares at C$11.11 each, totaling approximately C$224 million. The offering aims to enhance liquidity and market capitalization of its CDIs on the ASX. Proceeds will fund development and exploration of mineral properties. The offering, expected to close on May 15, 2024, is subject to TSX and NYSE approvals and certain conditions. Shares will be issued under a prospectus supplement to NexGen's base shelf prospectus.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:29 pm

SMSI

Smith Micro Software, Inc. (SMSI) has regained compliance with Nasdaq's minimum bid price requirement for continued listing on The Nasdaq Capital Market, after its stock price closed at or above $1.00 for 12 consecutive business days from April 11, 2024, to April 26, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:25 pm

CSLLY

SPRY

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has submitted a response for the Marketing Authorization Application (MAA) of neffy to the EMA's CHMP, addressing all previously identified issues. The company anticipates a CHMP opinion in Q2 2024. Additionally, ARS Pharmaceuticals entered into an exclusive licensing agreement with CSL Seqirus, a subsidiary of CSL Limited (ASX:CSL), for the commercialization of neffy in Australia and New Zealand. CSL Seqirus will handle regulatory approval, reimbursement, and commercialization, while ARS Pharmaceuticals will manage manufacturing and supply. The agreement includes an upfront payment to ARS Pharmaceuticals and event-driven milestone payments.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:23 pm

AREB

American Rebel Holdings, Inc. has been granted a license to distribute its American Rebel Beer in Tennessee, marking a significant expansion for the company's product line into new markets.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:18 pm

JNVR

Janover Inc (NASDAQ:JNVR) has officially launched Janover Insurance Group Inc, an insurtech subsidiary focusing on commercial property insurance. The company has obtained insurance licenses in Texas and Florida, with more applications pending in other states. Janover aims to leverage its expertise in real estate transactions for the insurance brokerage model, has recruited executives and a top-tier manager for the subsidiary, and is expanding insurance options through partnerships. The goal is to achieve national coverage and enhance client engagement with a comprehensive content strategy.

Portfolio Pulse from Mohit Manghnani

April 30, 2024 | 1:03 pm

BIDU

TSLA

Goldman Sachs analyst Mark Delaney commented that Tesla Inc's Full Self-Driving (FSD) technology is not yet fully autonomous, despite the company's recent regulatory approval in China and partnership with Baidu Inc. for FSD service in China. Delaney views the China news as positive but has already factored the anticipated FSD/software revenue growth into Goldman Sachs' valuation of Tesla. Tesla's stock saw a significant increase following the approval. However, Delaney cautions about the challenges Tesla faces in adapting its FSD technology for China, including local adjustments and regulatory navigation. Goldman Sachs maintains a $175 price target for Tesla, with optimistic and downside scenarios ranging from $220-$300 and $65-$85, respectively.

Portfolio Pulse from Piero Cingari

April 30, 2024 | 1:01 pm

KO

Coca-Cola's CFO expressed uncertainty regarding the duration of the impact from the Middle East conflict on the company's operations during a conference call.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:57 pm

AKLI

Akili announced its intention to continue seeking FDA marketing authorization for its EndeavorOTC product, a move that underscores the company's commitment to bringing its digital therapeutic solutions to market.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:54 pm

CYCC

GMM

MMM

3M shares surged 8.3% after a Q1 earnings beat. Cyclacel Pharmaceuticals soared 103% following the withdrawal of its Form S-1 registration and announcing an $8 million private placement. Global Mofy Metaverse (GMM) jumped 62% as it collaborates with Heartdub to use NVIDIA Omniverse for developing the GAUSSPEED Generative Video AI Platform.

Portfolio Pulse from ryanfaloona@benzinga.com

April 30, 2024 | 12:45 pm