Streetbeat News

Regulatory

SPY

The U.S. Transportation Department has announced that the Biden-Harris administration has approved grant funding aimed at expediting capacity expansion for the Port of Baltimore Terminal Operator. This move is part of broader efforts to enhance infrastructure and support economic growth.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:41 pm

TARA

Protara Therapeutics' shares surged following the announcement of FDA alignment on a registrational path for intravenous Choline Chloride and a successful $45 million private placement financing.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:10 pm

BKR

Baker Hughes (NASDAQ:BKR) has been awarded an order by Black & Veatch to supply Cedar LNG in Canada with electric-driven liquefaction technologies, including refrigeration compressors, boil-off gas compressors, and centrifugal pumps. This project, powered by renewable electricity, aims to make Cedar LNG one of the lowest carbon intensity LNG facilities globally. It represents a significant step in the Haisla Nation's economic and social development and is part of global decarbonization efforts. This order highlights Baker Hughes' strength in the LNG market and its commitment to providing lower carbon solutions.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:04 pm

TARA

Protara Therapeutics has announced an agreement with the FDA on a registrational path forward for its IV Choline Chloride for patients dependent on parenteral nutrition. This marks a significant step for the company in bringing this treatment to market.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:03 pm

LIPO

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) announced its abstract on a new product candidate, LP-50 (intravesical pembrolizumab), for treating non-muscle invasive bladder cancer (NMIBC) has been accepted for the 2024 ASCO meeting. The abstract highlights preclinical data showing efficacy in reducing bladder tumor size in mice with minimal toxicity, leveraging Lipella's liposomal drug delivery technology.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:00 pm

OCGN

Ocugen's stock price increased following the announcement that the Data and Safety Monitoring Board approved proceeding with the medium dose of OCU410 in the Phase 1/2 ArMaDa clinical trial's dose-escalation phase.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:18 am

QQQ

SPY

Wall Street anticipates a higher opening on Friday, recovering from a previous session sell-off, despite ongoing concerns about potential interest rate hikes. The focus is on the non-farm payrolls report, which could influence market sentiment. Analysts suggest that while strong job data might cause a temporary pullback, a significant rise in average hourly earnings could heighten fears of aggressive rate hikes by the Federal Reserve. The market is also attentive to upcoming Federal Reserve officials' speeches. The CBOE Volatility Index (VIX) indicates increased market volatility. Futures data shows positive movement in major indexes and ETFs like SPY and QQQ in premarket trading. Comments from Fed officials have recently spooked the market, leading to significant losses. Analysts advocate a 'buy-the-dip' strategy, noting key support levels for the S&P 500 and emphasizing the market's sensitivity to inflation and rate hike expectations.

Portfolio Pulse from Shanthi Rexaline

April 05, 2024 | 11:12 am

NTRA

Natera announced results from the Phase 3 IMvigor011 trial in muscle-invasive bladder cancer, showing patients who remained Signatera MRD-negative post-surgery had 100% overall survival at 12 months. The data suggests these patients might avoid adjuvant treatment.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:04 am

AMZN

FTEC

MSFT

XLK

Microsoft Corp (NASDAQ:MSFT) is under antitrust investigation in South Africa for its cloud computing licensing practices, similar to an ongoing EU case. The EU investigation, prompted by complaints from CISPE and other cloud providers, focuses on Microsoft's licensing terms potentially harming Europe's cloud ecosystem. Microsoft is negotiating with CISPE to avoid an EU investigation that could lead to fines and operational changes. The EU is also examining Microsoft's investment in OpenAI and complaints about Microsoft Teams. Microsoft plans to sell Teams separately from its Office suite globally in response to an EU investigation. MSFT stock has gained 47% in the last 12 months, and exposure to MSFT can be gained through SPDR Select Sector Fund – Technology (NYSE:XLK) and Fidelity MSCI Information Technology Index ETF (NYSE:FTEC).

Portfolio Pulse from Anusuya Lahiri

April 05, 2024 | 11:03 am

GLD

SPY

USO

Global markets experienced declines with the U.S. stock markets ending lower due to cautious statements from Federal Reserve officials and anticipation for the U.S. jobs report. The S&P 500 sectors all saw declines, particularly in technology, while defense shares gained. Asian markets also fell, notably Japan's Nikkei 225. European markets and commodities like crude oil and gold saw mixed results. U.S. futures indicated a slight uptick in early trading.

Portfolio Pulse from Akanksha Bakshi

April 05, 2024 | 10:48 am