Streetbeat News

Regulatory

TMUS

The FCC has approved T-Mobile's acquisition of Mint Mobile, a move that could significantly impact T-Mobile's market position by expanding its customer base and service offerings.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 6:12 pm

TTOO

T2 Biosystems has received a Notice of Allowance for a U.S. patent titled 'METHODS AND SYSTEMS FOR AMPLIFICATION IN COMPLEX SAMPLES', covering diagnostic and therapeutics methods for pathogens in whole blood. This development could enhance T2 Biosystems' product offerings and market position.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 5:55 pm

CRPT

MSTR

MVPA

Benchmark analyst Mark Palmer reiterated a Buy rating on MicroStrategy Inc (NASDAQ:MSTR) with a $1875 price target, highlighting its significant share price increase since adopting a bitcoin acquisition strategy in August 2020. Despite facing $2.269 billion in cumulative impairment losses due to FASB rule ASC 350, the new FASB standard ASU 2023-08 allows for fair value measurement of crypto assets, potentially impacting MSTR's earnings positively if adopted early. MSTR's early adoption could increase its 2024 beginning retained earnings balance by ~$3.1 billion. MicroStrategy stock has gained 327% in the last 12 months, and investors can also gain exposure through ETFs like CRPT and MVPA.

Portfolio Pulse from Anusuya Lahiri

April 25, 2024 | 5:29 pm

SOLUSD

Eddy Lazzarin, CTO of a16zcrypto, criticized meme coins on X, arguing they distort public perception of crypto's potential, likening it to a risky casino. The debate highlights concerns over adoption, regulatory actions, and developer behavior. Mike Dudas and Jesse Walden offered counterpoints, discussing meme coins' popularity and comparing their impact to deceptive projects. The discussion reflects broader industry challenges and the search for balance between innovation and investor protection.

Portfolio Pulse from Murtuza Merchant

April 25, 2024 | 5:15 pm

CAH

The FDA has criticized Cardinal Health for not ensuring that syringes included in their convenience kits have the necessary 510(k) clearance, which has hindered the FDA's ability to assess associated risks. This oversight could impact the company's operations and regulatory compliance.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 5:12 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares fell over 15% despite the company announcing CARB certification for its 2025 Mullen THREE electric truck and the completion of the first phase of battery line integration. The certification allows access to state EV incentives in CARB-compliant states, and the company targets starting production in early 2025, expecting to hire over 200 people.

Portfolio Pulse from Nabaparna Bhattacharya

April 25, 2024 | 5:02 pm

CAH

On April 24, Cardinal Health received a warning letter from the FDA, as reported by Reuters. This development could have implications for the company's operations and regulatory compliance efforts.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 4:55 pm

JOBY

Joby Aviation, Inc. (NYSE:JOBY) has signed a Memorandum of Understanding (MoU) with three Abu Dhabi government departments to establish and scale its electric air taxi service in Abu Dhabi and beyond. This agreement includes the development of a full air taxi ecosystem, training, infrastructure, flight operations, and potentially a manufacturing presence in Abu Dhabi. The partnership aims to advance mobility solutions and marks Joby's expansion into the UAE, complementing its exclusive rights to operate air taxi services in Dubai. Joby's aircraft, designed for zero-emission flights, was showcased in Abu Dhabi, highlighting its capabilities for fast and clean air travel within the UAE.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 4:39 pm

QQQ

SPY

The upcoming release of the Personal Consumption Expenditure (PCE) price index report this Friday is highly anticipated by investors, as it's a crucial indicator of inflation and influences the Federal Reserve's monetary policy. The report is expected to show a slight increase in the headline PCE year-on-year and maintain the previous month's pace on a month-over-month basis. A hotter-than-expected PCE report could negatively impact markets, increase Treasury yields, and pressure rate-sensitive stocks, particularly affecting sectors like real estate, tech, consumer discretionary, and materials. Conversely, a cooler-than-expected report could signal relief from inflationary pressures, potentially boosting market sentiment.

Portfolio Pulse from Piero Cingari

April 25, 2024 | 4:36 pm

SNGX

Soligenix shares surged following the announcement of receiving notices of intent to grant additional patents for its trivalent filovirus vaccines in the UK and South Africa, with more international jurisdictions pending.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 4:31 pm