Streetbeat News

Regulatory

NXL

Nexalin Technology, identified by its ticker symbol NXL, has received a Notice of Allowance for its U.S. patent application 18/342,590, which is focused on a Transcranial Alternating Current Dynamic Frequency Stimulation (TACS) method aimed at treating Alzheimer's and dementia. This development marks a significant milestone for Nexalin Technology in its efforts to innovate and expand its intellectual property portfolio in the medical technology sector, specifically targeting neurodegenerative diseases.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:03 pm

BTCUSD

DOGEUSD

SHIBUSD

Cryptocurrency trader Kevin predicts the upcoming FOMC meeting could significantly impact the crypto market, with potential for sharp movements based on the Federal Reserve's stance on interest rates. Historical data shows Bitcoin, Dogecoin, and Shiba Inu reacted to the last FOMC meeting, and similar volatility is expected. Bank of America's economist anticipates no immediate rate changes, focusing on future policy actions.

Portfolio Pulse from Khyathi Dalal

April 30, 2024 | 4:53 pm

TGT

The THC beverage sector is expected to grow from $180 million in 2021 to $500 million by 2026. Industry experts at the Benzinga Cannabis Capital Conference discussed the sector's growth, regulatory landscape, and its potential as an alcohol substitute. Key insights include the differentiation between hemp and marijuana, the importance of distribution channels, and the emerging consumer base of canna-curious individuals. Target (NYSE:TGT) was mentioned as now taking adaptogenic mushrooms, highlighting the broader acceptance and potential for growth in the cannabis-related product market.

Portfolio Pulse from Nina Zdinjak

April 30, 2024 | 4:42 pm

TCEHY

WB

China has implemented a revised State Secrets Law requiring internet companies like Tencent and Weibo to delete leaked information and cooperate with government investigations. This move, effective Wednesday, highlights President Xi Jinping's emphasis on national security and updates the law for the first time since 2010 to include 'internet information' among the channels that must adhere to secrecy requirements.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:35 pm

LLY

Eli Lilly, during a conference call, stated that the proposed U.S. BIOSECURE Act could affect elements of the pharmaceutical supply chain. However, the company does not currently foresee this having a material impact on its business operations.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:14 pm

VZIO

WMT

VIZIO Holding Corp (VZIO) shares dropped after Walmart (WMT) received a request for more information from the FTC on their planned merger. The FTC's second request extends the review period of the merger, but both companies plan to respond promptly and continue cooperating with the FTC.

Portfolio Pulse from Adam Eckert

April 30, 2024 | 4:12 pm

CLVR

Clever Leaves Holdings Inc. (NASDAQ:CLVR) announced its plan to voluntarily delist from NASDAQ due to financial strains, aiming to reduce operational costs and regulatory compliance burdens. The delisting process is set to begin around May 6, with the final trading day on NASDAQ expected around May 16. This move is part of a broader restructuring plan, following a 60% plunge in share value since the announcement. Despite a revenue increase and operational efficiencies reported in 2023, the company faces challenges in the cannabis industry.

Portfolio Pulse from Rolando García

April 30, 2024 | 4:09 pm

SPY

U.S. Treasury Secretary Yellen stated that inflation has significantly decreased, yet the prices of many goods remain higher than pre-pandemic levels. Despite the price increases, people are generally better off, but efforts to reduce living costs must continue.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 3:59 pm

AMGN

SDZNY

SDZXF

Sandoz AG has settled its patent litigation with Amgen Inc over the bone disorder drug denosumab, allowing for the launch of biosimilars Jubbonti and Wyost by May 31, 2025. The settlement will not affect Sandoz's 2024 guidance, and these biosimilars have received FDA approval. Amgen's Prolia, a reference medicine for these biosimilars, received a serious warning from the FDA in January due to risks of low calcium levels in certain patients. AMGN shares dropped by 0.91% following the news.

Portfolio Pulse from Vandana Singh

April 30, 2024 | 3:55 pm

SPY

Ahead of the Federal Open Market Committee meeting, Wall Street braces for the Fed's stance on interest rates amid higher-than-expected inflation readings. While the Fed is expected to maintain rates, focus shifts to the potential for future rate cuts. Recent inflation data, including the PCE price index, indicates robust inflation, leading analysts to predict cautious Fed actions. Bank of America and Citigroup offer divergent views on the extent of rate cuts by the end of 2024. The SPDR S&P 500 ETF Trust (SPY) saw a slight increase ahead of the meeting, reflecting investor sentiment.

Portfolio Pulse from Piero Cingari

April 30, 2024 | 3:51 pm