Streetbeat News

Regulatory

AZN

The European Commission has approved AstraZeneca's Voydeya (danicopan) as an add-on treatment to ravulizumab or eculizumab for patients with Paroxysmal Nocturnal Hemoglobinuria (PNH) who have residual hemolytic anemia. This approval marks a significant advancement in the treatment options available for PNH patients, potentially improving patient outcomes and quality of life.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 8:20 am

NVDA

SMCI

TSM

Taiwan Semiconductor Manufacturing Co. (TSM) stock has dropped over 13% in six days following a revised growth forecast for the semiconductor industry, leading to a market value loss exceeding $100 billion. The increase in put options indicates a bearish sentiment. Other tech companies like NVIDIA Corp (NVDA) and Super Micro Computer Inc (SMCI) also experienced significant stock price drops. TSMC's challenges, including a recent earthquake affecting production, reflect broader industry trends. Despite this, Taiwan is enhancing its chip diplomacy through international tech partnerships.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 6:12 am

Boeing Co. (NYSE:BA) anticipates a slower ramp-up in the production and delivery of its 787 widebody jets due to supplier shortages, as communicated by Scott Stocker, the 787 vice president and general manager, to employees. Despite these challenges, Boeing aims to gradually increase production to meet strong demand. The FAA is closely monitoring the situation to ensure compliance and safety. This news comes ahead of Boeing's Q1 earnings announcement and amidst scrutiny over manufacturing practices and safety concerns raised by whistleblower complaints.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 5:46 am

SNY

Sanofi's phase 3 study of Rilzabrutinib, a BTKi for immune thrombocytopenia (ITP), met its primary endpoint, highlighting its potential to benefit patients with ITP. Regulatory submissions in the US and EU are expected by year-end. Rilzabrutinib is part of Sanofi's immunology pipeline, aimed at treating various immune-mediated diseases beyond ITP, including asthma and autoimmune hemolytic anemia.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 5:41 am

AVGO

DELL

INTC

NVDA

QCOM

SMCI

Chinese entities have acquired high-end NVIDIA chips despite a U.S. ban, using third-party vendors and embedding them in servers from Super Micro Computer, Dell Technologies, and Gigabyte Technology. The chips were obtained for servers between Nov. 20 and Feb. 28, after the U.S. expanded its embargo on Nov. 17. Nvidia and server makers claim compliance with export controls, while the situation underscores the challenges of enforcing U.S. chip-export restrictions to China.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 5:01 am

META

Former President Donald Trump has criticized a potential TikTok ban, suggesting it benefits Meta Platforms Inc. (Facebook) by making it more dominant. Trump, who previously attempted to ban TikTok, now argues the move would unfairly advantage Facebook. The House has passed legislation requiring TikTok's sale or facing a ban, which President Biden supports. The White House denies seeking a TikTok ban, aiming instead for American ownership to protect data.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 12:43 am

CPRI

TPR

Capri Holdings Limited issued a statement expressing strong disagreement with the Federal Trade Commission's (FTC) decision to block its proposed transaction with Tapestry, Inc. The FTC's action represents a significant regulatory hurdle for the merger between the two companies.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:21 pm

CDTX

Cidara Therapeutics, Inc. (CDTX) received a Nasdaq delinquency notice for not filing its Annual Report on time, risking delisting. The company plans to submit a compliance plan and announced a 1-for-20 reverse stock split effective April 24, 2024, to meet Nasdaq's $1.00 bid price requirement by May 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:08 pm

SCPX

Scorpius Holdings, Inc (SCPX) received a notice from NYSE Regulation for not complying with listing standards due to the late filing of its Form 10-K for the year ended December 31, 2023. The delay was attributed to finance staff turnover and the need for additional time to complete revenue recognition calculations for certain contracts. CEO Jeff Wolf expressed regret over the delay and a commitment to high standards of financial reporting and governance.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:05 pm

ABAT

AMSYF

FQVLF

GOLD

GROY

American Battery Technology (ABAT) has initiated its lithium hydroxide pilot plant in Reno, Nevada, to produce battery-grade lithium hydroxide from unconventional sources, supported by a $4.5 million U.S. Department of Energy grant. ArcelorMittal Calvert (AMSYF) plans to construct a facility in Alabama for producing non-grain-oriented electrical steel, backed by $280.5 million in investment tax credits. Gold Royalty (GROY) reported a significant increase in revenue and gold equivalent ounces for Q1, projecting higher revenues for 2024. Saudi Arabia's Manara Minerals (FQVLF) is nearing a deal to acquire a minority stake in Pakistan's Reko Diq mine, a project 50% owned by Barrick Gold (GOLD).

Portfolio Pulse from austin@walkonholdings.com

April 22, 2024 | 9:01 pm