Streetbeat News

Regulatory

CGC

Canopy Growth Corporation (NASDAQ:CGC) anticipates significant growth in the German cannabis market following its partial legalization, projecting an increase from under $500 million to over $2.5 billion in the next two years. CEO David Klein highlighted the potential for revenue growth, particularly through the medical channel. The company aims to expand its position as a top-three cannabis brand in Germany, capitalizing on the new legislation to boost profitability.

Portfolio Pulse from Erica Kollmann

March 26, 2024 | 7:30 pm

AMD

INTC

NVDA

SMH

SOXL

SOXX

China's new guidelines phasing out foreign microprocessors in government PCs and servers have caused volatility in semiconductor stocks, including AMD and Intel. Semiconductor ETFs like SMH, SOXX, and SOXL also experienced volatility. Despite this, Intel is highlighted for its favorable fundamentals compared to Nvidia, AMD, and Micron, with better P/E, Price/Sales, and EV/Sales ratios. However, Intel's technical indicators suggest a mixed outlook, with a bearish short-term trend but potential for medium to long-term growth.

Portfolio Pulse from Surbhi Jain

March 26, 2024 | 6:45 pm

ACB

IMCC

LFLY

SNDL

Cannabis stocks are experiencing an uptick following the German government's approval of cannabis legalization, indicating continued strength in the sector.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 6:40 pm

AMD

INTC

NVDA

SK Hynix plans to invest $4 billion in a new semiconductor facility in Indiana, aiming to strengthen the US semiconductor industry. This move is in line with the Biden administration's goals and is expected to create up to 1,000 jobs. The facility, which will start operations in 2028, is near Purdue University and will benefit from state and federal incentives. SK Hynix is Nvidia's exclusive partner for high-bandwidth memory, crucial for advanced GPUs. The investment also comes amid escalating US-China semiconductor tensions, with both countries imposing restrictions affecting companies like Nvidia, AMD, Intel, and Micron Technology.

Portfolio Pulse from Anusuya Lahiri

March 26, 2024 | 5:58 pm

STOK

WPRT

Westport Fuel Systems Inc. (NASDAQ:WPRT) shares fell by approximately 10% after reporting a Q4 loss wider than expected. Other stocks experienced significant movements, with notable gainers including Stoke Therapeutics, Inc. (NASDAQ:STOK) and losers like Quhuo Limited (NASDAQ:QH). The movements were attributed to various factors including financial results, clinical trial data, and strategic agreements.

Portfolio Pulse from Avi Kapoor

March 26, 2024 | 5:45 pm

CEIX

A container ship collision with the Francis Scott Key Bridge in Baltimore has caused its collapse, leading to delays in vessel access to and from the CONSOL Marine Terminal. CONSOL Energy (CEIX) is working with authorities to restore access and operations but lacks a definitive timeline for resumption. The incident did not involve a ship owned or operated by CONSOL, nor carrying materials to or from its terminal.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 5:33 pm

TLRY

Tilray shares are experiencing an uptick as the broader cannabis market benefits from recent legalization efforts in Germany. This positive momentum reflects growing optimism around the global cannabis industry's expansion.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 5:00 pm

CGC

Canopy Growth shares are trading higher as cannabis stocks experience a surge following the recent legalization of cannabis in Germany. This development has positively impacted the sector, leading to increased investor interest in companies like Canopy Growth.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 4:55 pm

SPY

President Biden has committed to getting the Port of Baltimore operational again as quickly as possible, indicating a focus on restoring a key piece of infrastructure.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 4:51 pm

MESO

The FDA has informed Mesoblast Limited (NASDAQ:MESO) that the clinical data from its Phase 3 study MSB-GVHD001 is sufficient to support a BLA submission for remestemcel-L for pediatric SR-aGVHD. Mesoblast plans to file the resubmission next quarter. This follows a complete response letter from the FDA in August 2023 requiring more data. The FDA had previously supported an accelerated approval pathway for another of Mesoblast's products. MESO shares surged 75.90% to $3.87.

Portfolio Pulse from Vandana Singh

March 26, 2024 | 4:47 pm