Streetbeat News

Regulatory

TNXP

Tonix Pharmaceuticals has selected two contract manufacturing organizations for the launch and commercial manufacture of Tonmya, a treatment for fibromyalgia. The company plans to submit a New Drug Application (NDA) in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:04 pm

AMD

BABA

INTC

NVDA

TCEHY

The Biden administration is considering blacklisting several Chinese semiconductor firms linked to Huawei Technologies, including Qingdao Si'En, SwaySure, and Shenzhen Pensun Technology Co., due to Huawei's advancements in AI chip development. This move aims to curb China's AI and semiconductor ambitions, impacting companies like Nvidia, Tencent, Alibaba, and others involved in competing or collaborating in the AI and semiconductor sectors.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 12:01 pm

INTC

NVDA

Intel Corp. (NASDAQ:INTC) shares surged nearly 4% premarket following the announcement of a proposed $8.5 billion funding from the Biden administration under the CHIPS and Science Act for semiconductor projects in the U.S. This funding aims to create tens of thousands of jobs and solidify the U.S.'s stance in the global semiconductor market. Intel's investments over the next five years are expected to exceed $100 billion, generating significant employment opportunities. Additionally, Nvidia Corp. (NASDAQ:NVDA) is considering Intel Foundry for its AI chip production.

Portfolio Pulse from Rounak Jain

March 20, 2024 | 11:54 am

GOOG

META

A New York judge has allowed survivors of the 2022 Buffalo shooting to proceed with lawsuits against Meta Platforms Inc. (META), Reddit, and Alphabet Inc (GOOG, GOOGL), accusing them of contributing to the radicalization of the gunman. The decision challenges the platforms' defense under Section 230 of the Communications Decency Act, potentially setting a precedent for accountability of social media companies for content on their sites. Reddit plans to appeal the ruling.

Portfolio Pulse from Benzinga Neuro

March 20, 2024 | 11:28 am

BNTX

CMG

JKS

NDAQ

PDD

QQQ

SPY

US stock futures indicate a cautious opening as investors await the Federal Reserve's interest rate decision. Weak bond yields and gold prices suggest expectations of a dovish Fed stance. The S&P 500 showed signs of a near-term top, with potential for a 5-6% pullback. Premarket trading saw SPY and QQQ ETFs move slightly, while individual stocks like BNTX, PDD, JKS, NDAQ, and CMG saw significant premarket activity due to earnings and announcements.

Portfolio Pulse from Shanthi Rexaline

March 20, 2024 | 11:28 am

LFCR

Lifecore Biomedical announced the completion of its financial restatements and has filed its Form 10-K for the fiscal year 2023. This marks a significant step in addressing previous financial discrepancies and provides investors with updated and audited financial information.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:19 am

CDMO

Avid Bioservices, Inc. received a notice from the NASDAQ Listing Qualifications Department for failing to comply with listing requirements due to not filing its quarterly report on Form 10-Q.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:15 am

CABA

The FDA has granted Orphan Drug Designation to Cabaletta Bio's CABA-201 for the treatment of systemic sclerosis, potentially accelerating its development and approval process.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 11:03 am

CC

Chemours announced that it and its partners have been selected for $60M in grants from the US Department of Energy. These grants are aimed at supporting the advancement of the global hydrogen economy, highlighting the company's involvement in sustainable energy initiatives.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 10:51 am