Streetbeat News

Regulatory

MDXG

The FDA issued a determination letter to MiMedx, indicating that Axiofill, the company's product, does not meet the regulatory classification requirements for a human cell, tissue, or cellular or tissue-based product (HCT/P).

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 12:09 pm

SSNC

SS&C Technologies Holdings, Inc. (SSNC) has received full approval from the Financial Services Regulatory Authority to provide fund administration services within the Abu Dhabi Global Market. This approval allows SS&C to expand its services in the Middle East, potentially increasing its market share and revenue in the region.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 12:02 pm

MDT

Medtronic has received FDA approval for its Evolut FX+ TAVR system, marking a significant advancement in the company's cardiovascular portfolio. This approval could enhance Medtronic's market position in the medical devices sector, potentially leading to increased sales and market share in the TAVR (Transcatheter Aortic Valve Replacement) market.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 12:01 pm

GOOG

META

During a Capitol Hill hearing, Mark Zuckerberg quickly debunked Tristan Harris's claims about Meta's AI being a potential threat for creating bioweapons, causing laughter among attendees. Harris had argued that Meta's AI guardrails were too lax, potentially allowing misuse for bioweapon information. Zuckerberg countered by showing the same information could be found via Google search. The incident highlights the ongoing debate on AI regulation and tech giants' responsibility in AI safety.

Portfolio Pulse from Rounak Jain

March 27, 2024 | 12:01 pm

AAPL

Eric Jackson from EMJ Capital suggests buying Apple Inc. (AAPL) stock, citing excessive pessimism among investors despite challenges like declining iPhone sales in China and a DOJ antitrust lawsuit. Apple's stock has fallen 14.27% since its all-time high in December. Jackson believes the upcoming June WWDC event could be a catalyst for the stock. Apple also faces regulatory pressures, including a $1.95 billion fine in a Spotify antitrust case, and has been forced to adopt USB Type-C and RCS due to regulatory decisions.

Portfolio Pulse from Rounak Jain

March 27, 2024 | 11:43 am

GRTX

Galera Therapeutics received a letter from Nasdaq on March 26 indicating that the company has not regained compliance with the minimum market value of listed securities requirement, as per an 8K filing.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:42 am

ENVX

Enovix has been granted a 15-year Pioneer Status by the Malaysian Investment Development Authority for its high-volume manufacturing facility, which is expected to significantly boost its production capabilities.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:32 am

AMD

INTC

NVDA

SK Hynix expects its high-bandwidth memory (HBM) chips, used in AI chipsets, to make up a significant portion of its DRAM sales by 2024, benefiting Nvidia as a key recipient. SK Hynix, a leading supplier of HBM3 chips to Nvidia, anticipates these chips will represent 15% of global DRAM sales in 2024, up from 8% in 2023. The company also plans a $4 billion chip-packaging facility in Indiana, supported by the U.S. Chips Act. This development comes amid heightened U.S.-China semiconductor tensions, with China reducing its reliance on U.S. microprocessors from Intel and AMD.

Portfolio Pulse from Anusuya Lahiri

March 27, 2024 | 11:30 am

GME

HOOD

MRK

NCNO

QQQ

SPY

US stocks are poised for a rebound to end the quarter strong, with the S&P 500 Index up over 9% this quarter. Analysts predict a robust April, citing historical trends and potential Fed cuts. Futures are up in premarket trading, with SPY and QQQ ETFs seeing gains. GameStop's stock plunged following its earnings report, while nCino surged. Robinhood announced a new credit card, and Merck's new treatment received FDA approval. Economic data and upcoming earnings reports are also in focus.

Portfolio Pulse from Shanthi Rexaline

March 27, 2024 | 11:13 am

EQIX

Wolf Haldenstein Adler Freeman & Herz is investigating Equinix (EQIX) for potential violations of federal securities laws, focusing on whether the company issued false or misleading statements or failed to disclose important information to investors.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 10:36 am