Streetbeat News

Regulatory

TENX

Tenax Therapeutics has been granted a new US patent for the use of Levosimendan in treating pulmonary hypertension associated with heart failure with preserved ejection fraction, extending its protections until December 2040.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:33 am

VZIO

Vizio's stock price has declined following news that Walmart received a request for additional information from the FTC concerning their planned merger. This development suggests potential regulatory hurdles that could delay or impact the merger's completion.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:32 am

CATX

The FDA has chosen Perspective Therapeutics to join the CDRP program, aiming to accelerate the development readiness of VMT-α-NET for treating neuroendocrine tumors. This selection could significantly impact the company's progress in bringing its treatment to market sooner.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:20 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) experienced a significant stock surge, increasing by $25.76 or 15.31%, closing at $194.05. The rise was humorously celebrated by Elon Musk and investor Sawyer Merritt, referencing critic Gordon Johnson's low price target. Despite the surge, Johnson remains skeptical, particularly about Tesla's advancements in China and the challenges of data localization and U.S. restrictions on NVDA chip shipments.

Portfolio Pulse from Shanthi Rexaline

April 30, 2024 | 11:20 am

SENS

Senseonics announced that its Eversense CGM System has received the integrated Continuous Glucose Monitoring (iCGM) designation from the FDA, marking a significant regulatory milestone.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:07 am

CNVS

DRCT

META

The article highlights the top 3 oversold tech and telecom stocks in the communication services sector, suggesting potential investment opportunities. Direct Digital Holdings, Inc. (DRCT), Meta Platforms, Inc. (META), and Cineverse Corp. (CNVS) are identified as major players with their RSI values indicating they are oversold. DRCT's stock fell due to Nasdaq non-compliance notification, META's stock dropped despite better-than-expected earnings, and CNVS's stock declined following a deal with Konami Cross Media.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 11:02 am

ETON

Eton Pharmaceuticals, Inc. has submitted a New Drug Application (NDA) to the FDA for ET-400, a hydrocortisone oral solution aimed at treating rare diseases. The company anticipates a 10-month review period, with potential approval and market launch in Q1 2025.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:01 am

AMD

AMZN

QQQ

SPY

Wall Street is cautious ahead of the Federal Reserve's interest rate decision, with futures trading lower. The earnings season, including Amazon and AMD's reports, adds to market volatility. Analysts anticipate no rate cuts from the Fed but don't rule out future reductions. Stocks like F5, Inc. and Tesla saw premarket movements, while several companies are set to report earnings. Global markets show mixed reactions, with commodities and bonds seeing modest changes.

Portfolio Pulse from Shanthi Rexaline

April 30, 2024 | 10:57 am

IBIT

James Seyffart, an ETF analyst at Bloomberg Intelligence, discussed the performance of Bitcoin ETFs, particularly highlighting the success of BlackRock's iShares Bitcoin Trust (IBIT) as one of the best launches in history with $12-13 billion in inflows since January 11. However, inflows have begun to stagnate, with IBIT experiencing its first day without an inflow after a 72-day streak. Seyffart was skeptical about the launch of an Ethereum ETF before 2025, citing regulatory delays. He also mentioned the potential impact of retirement accounts and institutional investors on Bitcoin ETFs and touched on the upcoming Hong Kong ETFs offering Bitcoin and Ethereum spot ETFs.

Portfolio Pulse from Ivan Crnogatić

April 30, 2024 | 10:55 am

HAP

HJEN

SHEL

Nigeria's oil regulator has begun evaluating Shell plc's divestment of its Nigerian onshore subsidiary, SPDC, to Renaissance, a consortium. The $1.3 billion sale includes assets with significant oil and gas reserves. The evaluation will cover financial and technical capabilities, labor relations, and community obligations. Shell also signed a deal to supply gas to Nigeria's Brass methanol facility. Investors can track Shell's stock through Direxion Hydrogen ETF and VanEck Natural Resources ETF.

Portfolio Pulse from Lekha Gupta

April 30, 2024 | 10:19 am