Streetbeat News

Regulatory

EIS

SPY

White House's Kirby expressed cautious optimism about the direction of ceasefire talks, mentioning a Hamas proposal that aligns with ongoing negotiations. No specific details on the Rafah Plan were seen, but the administration is interested in reviewing it.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 7:33 pm

LEGN

Legend Biotech announced that the FDA Oncologic Drugs Advisory Committee has recommended CARVYKTI for the treatment of patients with relapsed/refractory multiple myeloma. This recommendation is a significant step towards the approval and commercialization of CARVYKTI, potentially benefiting patients with this challenging condition.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 7:16 pm

CXXIF

C21 Investments Inc. (CXXIF) is acquiring Deep Roots Harvest, Inc. for $3.5 million, enhancing its Nevada operations. The deal includes a dispensary in Reno and is funded partly by a CA$4 million private placement of convertible debentures. The acquisition is subject to regulatory approvals.

Portfolio Pulse from Jelena Martinovic

March 15, 2024 | 7:09 pm

USAP

Universal Stainless & Alloy Products (USAP) has filed for a non-timely 10-K, indicating a delay in their annual report submission. The company also provided a sales forecast for Q4 of 2023, estimating total sales to be between $78M and $80M.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 7:02 pm

Senator Sherrod Brown has urged President Biden to intervene and prevent Nippon Steel's acquisition of U.S. Steel, citing concerns over national security and the potential impact on the domestic steel industry.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 6:38 pm

HMC

The NTSB has initiated a safety investigation into a collision involving an electric Ford Mustang SUV and a Honda CR-V in Texas on February 24, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 6:29 pm

DBC

DIA

QQQ

SPY

TLT

XLB

XLE

XLK

Wall Street experienced a risk-off sentiment due to high producer inflation figures, affecting major stock indices and cryptocurrencies. The Nasdaq 100 trailed, while small caps and energy stocks avoided losses. The VIX was up 5%, and the iShares 20+ Year Treasury Bond ETF (TLT) fell nearly 3%. Bitcoin dropped to $68,000. Commodities, especially industrial metals and oil, saw gains, with the Invesco DB Commodity Index Tracking Fund (DBC) poised for its best week since January 2024. Major ETFs like SPY, DIA, and QQQ fell, while sector-specific ETFs like XLE and XLB saw gains. Individual stocks like SCCO, JBL, Z, COMP, RDFN, ADBE, GERN, and CSGP had notable movements.

Portfolio Pulse from Piero Cingari

March 15, 2024 | 6:12 pm

ETH-USD

On Thursday, 11,130.70 Ether (ETH) worth $41M was burned, permanently removing it from circulation. This follows the EIP-1159 upgrade to the Ethereum blockchain, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing Ether at a 4% annual rate, expected to decrease with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -13.48% yesterday.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 6:00 pm

ACB

CGC

CURLF

GTBIF

TLRY

UGRO

VFF

Cannabis stocks surged following a tweet by hedge fund manager Doug Kass, suggesting the DEA will soon reschedule cannabis to Schedule III, potentially easing business burdens for the industry. Stocks like Curaleaf Holdings, Canopy Growth, and others saw significant gains. The upcoming Benzinga Cannabis Capital Conference will further discuss these developments.

Portfolio Pulse from Maureen Meehan

March 15, 2024 | 5:28 pm

VWAGY

Volkswagen AG's finance unit has agreed to a $48.75 million settlement with the SEC to resolve allegations of defrauding investors in U.S. bond offerings, stemming from the diesel emissions scandal. This marks the final major legal action in the U.S. related to the scandal, which has cost Volkswagen over $20 billion in various fines and settlements since 2015. The settlement, awaiting approval by a U.S. judge, includes restitution and interest to be distributed to affected investors.

Portfolio Pulse from Shivani Kumaresan

March 15, 2024 | 5:17 pm