Streetbeat News

Regulatory

EH

EHang Holdings' shares surged following the announcement that it received the Production Certificate for its EH216-S passenger-carrying pilotless eVTOL aircraft from the Civil Aviation Administration of China.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 2:43 pm

AZN

DSKYF

DSNKY

The FDA granted accelerated approval to Enhertu, a drug developed by AstraZeneca and Daiichi Sankyo, for treating patients with unresectable or metastatic HER2 positive solid tumors who have undergone prior systemic treatment. This approval, based on objective response rate and duration of response from phase 2 trials, marks a significant milestone as the first tumor agnostic HER2-directed therapy. AstraZeneca's stock saw a slight increase following the announcement.

Portfolio Pulse from Vandana Singh

April 08, 2024 | 2:34 pm

SSL

The Minister of Forestry, Fisheries and the Environment overturned a previous decision, allowing Sasol South Africa (SSA) to regulate sulphur dioxide emissions from its Secunda Operations based on load limits rather than concentration limits, from April 2025 to March 2030. This decision follows an appeal by SSA against the National Air Quality Officer's refusal to permit alternative emission load regulation. Sasol aims to improve air quality and reduce its environmental footprint, and will work with the Minister to finalize regulatory requirements.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 2:29 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) shares are rising due to an increase in Bitcoin prices and positive developments including its registration as a Restricted Dealer in Canada and an upgraded price target by Oppenheimer. Despite Ark Invest selling over $21 million of Coinbase shares, the stock is trading above its 50-day moving average and near its 52-week high. Analysts have mixed views, with an average 1-year price target suggesting a downside.

Portfolio Pulse from Erica Kollmann

April 08, 2024 | 2:16 pm

NDAQ

SHEL

Shell is contemplating a move to list its shares in New York, a decision driven by the desire for a more favorable regulatory and investment environment. This consideration comes amid growing frustrations with the current London listing, particularly regarding regulatory constraints and the investment climate. The move is seen as a way to potentially unlock greater value for shareholders and align more closely with a significant portion of its investor base.

Portfolio Pulse from Charles Gross

April 08, 2024 | 2:13 pm

SUPN

Supernus Pharmaceuticals Inc. (NASDAQ:SUPN) received a second Complete Response Letter (CRL) from the FDA for its investigational device, SPN-830, aimed at treating Parkinson's disease. The FDA's concerns relate to product quality and the master file for the infusion device. Despite no clinical safety or efficacy issues being identified, the FDA requires additional information for approval. Supernus plans to work with the device manufacturer to address these issues. SUPN stock dropped 9% in premarket trading and closed down 1.61% at $33.01.

Portfolio Pulse from Vandana Singh

April 08, 2024 | 2:11 pm

AAPL

SPOT

Spotify Technology S.A. (NYSE:SPOT) enhances its AI capabilities with new features, while Apple Inc (NASDAQ:AAPL) adjusts its App Store policies under EU pressure, potentially benefiting Spotify and other streaming services. Spotify's AI journey includes a successful AI-powered DJ feature and new personalized AI playlists. Apple, facing a $1.99 billion EU fine for competition restrictions, has been slower in adopting AI but added personalized recommendations last year.

Portfolio Pulse from Upwallstreet

April 08, 2024 | 2:02 pm

CURLF

Germany's cannabis legalization has entered its first phase, allowing adults over 18 to possess and cultivate marijuana under specific limits. Lawmakers are pushing for the second phase, which involves state-controlled sales in licensed shops. Curaleaf, a major cannabis producer, is considering a secondary listing in Europe, eyeing Frankfurt and London, following its expansion in Germany through the acquisition of Northern Green Canada. Curaleaf shares closed 7.49% higher at $5.60.

Portfolio Pulse from Nina Zdinjak

April 08, 2024 | 1:41 pm

LUNA

Luna Innovations has been notified by Nasdaq about the late filing of its annual report on Form 10-K. This notice could potentially impact the company's compliance with Nasdaq listing requirements.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 1:07 pm

ASTC

Astrotech's subsidiary, 1st Detect, has its TRACER 1000 mass spectrometer listed on the U.S. General Services Administration (GSA) IT Schedule 70 under contract with SRI Group. This listing approves Astrotech as a U.S. government vendor, potentially opening up significant federal procurement opportunities.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 1:04 pm