Streetbeat News

Regulatory

ENB

The Biden administration has urged a U.S. appeals court to reconsider an order for Enbridge Inc. (NYSE:ENB) to drain parts of its Line 5 pipeline, which runs through Native American tribal land in Wisconsin. This request is based on a 1977 U.S.-Canada treaty to keep oil flowing. The U.S. DOJ believes the lower court's decision to stop portions of the pipeline by 2026 should be rethought, despite acknowledging Enbridge's trespassing on tribal land. The pipeline, crucial for transporting Canadian oil to Ontario, is at the center of a legal dispute initiated by the Bad River Band of Lake Superior Chippewa in 2019. Enbridge has offered $80 million to settle, and a U.S. District Judge ordered the company to pay nearly $5.2 million for trespassing, a sum the DOJ deems too low.

Portfolio Pulse from Lekha Gupta

April 11, 2024 | 12:49 pm

INBS

Intelligent Bio Solutions' subsidiary, Fingerprinting, has been granted a new European patent with unitary effect for its DSR-Plus Cartridge Reader. This development could enhance the company's competitive edge in the European market by protecting its innovative technology.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:44 pm

AAPL

The DOJ's antitrust lawsuit against Apple Inc. (AAPL) will now be overseen by Judge Julien Xavier Neals after Judge Michael E. Farbiarz stepped down due to necessary recusal, with undisclosed reasons related to potential impartiality issues. This change in judiciary oversight comes amidst Apple's strong opposition to the lawsuit, which it claims threatens its innovation capabilities. The trial will continue as planned in New Jersey, even as Apple faces increasing regulatory pressures globally.

Portfolio Pulse from Rounak Jain

April 11, 2024 | 12:44 pm

VGK

The European Central Bank (ECB) has decided to keep the refinancing rate unchanged at 4.5% and the deposit rate also remains steady at 4.0%. This decision reflects the ECB's current stance on monetary policy amidst economic conditions in the Eurozone.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:16 pm

IMNN

IMUNON, Inc. (NASDAQ:IMNN) announced it has regained compliance with Nasdaq's Minimum Bid Price Requirement and will maintain its listing on the Nasdaq Capital Market. The company had previously been notified of non-compliance due to its stock price falling below $1.00 for 30 consecutive days but achieved compliance after its stock price remained above $1.00 for 10 consecutive trading days. IMUNON is advancing in its development of immuno-oncology therapies and vaccines, with significant progress in its OVATION 2 Study for advanced ovarian cancer and a Phase 1 study for a COVID-19 booster vaccine.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:15 pm

XTKG

X3 Holdings Co., Ltd. (NASDAQ:XTKG) received a Nasdaq notification for not meeting the minimum bid price requirement. The company's shares have been below $1.00 for over 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). X3 Holdings has until October 7, 2024, to regain compliance by ensuring its share price is at least $1.00 for 10 consecutive trading days. The company plans to take measures to improve its financial position and trading price to address this issue.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:11 pm

BHC

Bausch Health Companies Inc. (NYSE:BHC) announced that its acne treatment, PrARAZLO, is now available through British Columbia's public drug plan, BC PharmaCare. PrARAZLO, a tazarotene lotion, is the only Health Canada-approved acne treatment of its kind for patients aged 10 and older. The availability across all public drug plans in Canada marks a significant step for Bausch Health in expanding access to their dermatology portfolio. PrARAZLO utilizes PRISMATREX technology to reduce skin dryness, a common side effect, potentially improving patient outcomes.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:04 pm

RAMP

Cross Screen Media has announced a strategic partnership with LiveRamp (NYSE:RAMP) to enhance video ad targeting and measurement for local agencies. This collaboration aims to improve Cross Screen Media's capabilities and prepare for a cookieless future by utilizing LiveRamp's identity resolution and transcoding app, Powered by Snowflake, ensuring compliance with privacy measures.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 11:47 am

SNGX

Soligenix has been granted FDA Orphan Drug Designation for the active ingredient in SuVax, a subunit protein vaccine aimed at preventing and providing post-exposure prophylaxis against Sudan Ebolavirus (SUDV) infection. This designation is a significant step for Soligenix in the development and potential commercialization of SuVax.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 11:32 am

ALPN

HOOD

QQQ

SPY

Wall Street anticipates a lower opening influenced by upcoming inflation data, central bank decisions, and Fed speeches. SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket declines. Analysts offer mixed views on market conditions, with some seeing buying opportunities amidst inflation concerns. Stocks like Robinhood and Alpine Immune Sciences are in focus due to an analyst downgrade and acquisition news, respectively. Economic data releases and Fed officials' speeches are also on investors' radar.

Portfolio Pulse from Shanthi Rexaline

April 11, 2024 | 11:27 am