Streetbeat News

Regulatory

ALDX

Aldeyra Therapeutics' stock is trading higher following the announcement of a clinical development plan for reproxalap in dry eye disease, aimed at enabling the resubmission of a New Drug Application.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 4:02 pm

AAPL

AMZN

GLD

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

USO

Nvidia (NVDA) has fallen below its trendline, indicating potential negative implications for NVDA and tech stocks. Fed's Christopher Waller suggests interest rates will remain unchanged due to disappointing inflation data. Early trade money flows show positive trends for AMZN and GOOG, neutral for MSFT and META, and negative for NVDA, AAPL, and TSLA. Mixed flows are observed in SPY and QQQ ETFs. Gold, represented by GLD, hits a new high with positive momo crowd buying, while oil, represented by USO, also sees buying. Bitcoin surpasses $70,000.

Portfolio Pulse from The Arora Report

March 28, 2024 | 3:55 pm

SHWZ

Schwazze (OTC:SHWZ) reported a revenue increase of 8% in Q4 2023 to $43.3 million, despite a challenging competitive landscape in the cannabis retail sector, particularly in Colorado and New Mexico. The company expanded its store footprint by over 50% to 63 dispensaries. However, gross profit dropped significantly to $7.0 million from $21.7 million in the same quarter last year, leading to a net loss of $33.9 million. The company attributes the fierce competition and market pressures for the financial outcomes but remains optimistic about future growth and regulatory momentum.

Portfolio Pulse from Maureen Meehan

March 28, 2024 | 3:42 pm

FXI

SPY

TSLA

The World Trade Organization (WTO) has reported that China has initiated a dispute over U.S. tax credits for electric vehicles and renewable energy, according to Reuters. This move by China could escalate tensions between the two largest economies over clean energy incentives.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:26 pm

IMCC

IM Cannabis Corp. reported a 10% decrease in annual revenue for 2023, attributing it to negative currency fluctuations and the Israel-Hamas war's impact on operations. Despite a 68% drop in Q4 gross profit, the company sees growth opportunities in Germany following new cannabis legislation. Financial highlights include a 7.5% increase in gross profit year-over-year, a 49% decrease in general and administrative expenses, and a 43% reduction in operating expenses. IM Cannabis' shares rose 7.33% following the announcement.

Portfolio Pulse from Jelena Martinovic

March 28, 2024 | 3:19 pm

TLRY

The cannabis sector is experiencing a resurgence due to Germany's partial legalization and potential U.S. rescheduling. Tim Seymour highlighted Tilray Brands, Inc. (TLRY) as well-positioned in Europe, especially in Germany, due to prior investments. The sector's growth is anticipated to continue with increased sales, revenue, and efficiency improvements.

Portfolio Pulse from Erica Kollmann

March 28, 2024 | 3:09 pm

ARCH

BTU

CNX

METC

SXC

The closure of the Port of Baltimore, a major U.S. coal export hub, due to the collapse of the Francis Scott Key Bridge, is expected to slow U.S. coal export growth and reduce bunker fuel use, according to the Energy Information Administration (EIA). Baltimore, handling 28 million short tons of coal last year, plays a critical role in U.S. coal exports, especially to markets like India, Japan, China, and South Korea. The port's closure could impact coal and bunker fuel markets, with potential shifts in export activities to other ports like Hampton Roads.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:00 pm

BTCUSD

ETHUSD

SPY

VGK

Russian investigators have reported that attackers involved in recent incidents received a substantial amount of cash and cryptocurrency from Ukraine. This development could have implications for the perception of cryptocurrency's role in international conflicts and may influence investor sentiment towards assets related to cryptocurrencies and regional stability.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:57 pm

So-Young International Inc. (NASDAQ:SY) reported a pivot to profitability and a focus on high-end services, leading to a 19% revenue increase last year. The launch of So-Young Prime and a strategic shift away from smaller clinics contributed to this success. Despite challenges from COVID-19 and regulatory crackdowns, the company's shift towards premium services and direct provision of cosmetic products and services shows promise. A $25 million share repurchase and a special cash dividend were announced, although a modest revenue growth forecast tempers optimism.

Portfolio Pulse from The Bamboo Works

March 28, 2024 | 2:55 pm

NVO

Novo Nordisk's stock price increased following the announcement that some US insurers have expanded their coverage of Wegovy, a medication produced by Novo Nordisk, to include certain Medicare recipients with heart-related conditions.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:54 pm