Streetbeat News

Regulatory

VTRS

Viatris (VTRS) and its partner Mapi Pharma received a Complete Response Letter (CRL) from the FDA for their New Drug Application for GA Depot 40mg. The companies are currently reviewing the CRL to determine their next steps.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:55 pm

BTCUSD

Former President Donald Trump, known for his preference for the U.S. dollar, admitted to engaging in transactions using Bitcoin, including a project involving the sale of limited edition sneakers. Despite his traditional views, Trump acknowledged the utility and growing acceptance of cryptocurrencies, indicating a more open stance towards them. He also praised Federal Reserve Chair Jerome Powell for his scandal-free tenure. Trump's comments suggest a warming attitude towards Bitcoin and cryptocurrencies.

Portfolio Pulse from Murtuza Merchant

March 11, 2024 | 2:55 pm

AMD

NVDA

AMD shares fell 3.7% to $199.72 amid profit-taking and overall market weakness, despite no company-specific news. The upcoming CPI report could influence the Fed's rate decision, potentially affecting AMD's costs and stock price. NVIDIA's legal issues and the semiconductor sector's overall decline also contributed to the market sentiment. AMD has shown significant revenue growth over the past 5 years, but its forward P/E ratio is higher than its peers.

Portfolio Pulse from Henry Khederian

March 11, 2024 | 2:55 pm

UBER

VGK

EU countries have endorsed draft regulations aimed at improving the rights of gig workers, potentially impacting companies like Uber and the broader European market. These rules could lead to increased operational costs for gig economy companies by mandating benefits similar to those of traditional employment.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:53 pm

BLNK

Blink Charging Co. (NASDAQ:BLNK) announced the establishment of its global corporate headquarters and a new manufacturing facility in Bowie, Maryland. The new 15,000 square-foot headquarters and a 30,000 square-foot LEED Gold-certified production facility aim to increase manufacturing capacity to over 50,000 EV charging units annually, up from 15,000. This expansion supports Blink's commitment to sustainable transportation and the increasing demand for EV charging infrastructure. The move also includes the creation of the Blink Center of Charging Excellence, featuring vehicle interoperability testing, charger certification, and advanced R&D capabilities.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:35 pm

TCNNF

Florida Governor Ron DeSantis expressed concerns about the proposed recreational cannabis legalization measure in Florida, emphasizing the need for more restrictive regulations, particularly regarding public consumption near schools. The measure, led by Smart & Safe Florida and funded by Trulieve Cannabis Corp. (OTCQX:TCNNF), has been challenged in the Florida Supreme Court by Attorney General Ashley Moody. Despite the legal challenges, a recent poll shows strong voter support for legalization. Meanwhile, Florida lawmakers have approved a bill imposing THC content restrictions on hemp extracts.

Portfolio Pulse from Nina Zdinjak

March 11, 2024 | 2:23 pm

ABNB

Airbnb announced a global ban on indoor security cameras in its listings, effective April 30. Previously, cameras were permitted if disclosed in the listing. The policy change, influenced by feedback from guests, hosts, and privacy experts, aims to address privacy concerns. Outdoor cameras and doorbell cameras are still allowed if disclosed. Violations could lead to listing or account removal. The decision reflects the ongoing debate between hosts who view cameras as essential for property protection and guests concerned about privacy.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:17 pm

META

Donald Trump expressed concerns in a CNBC interview that banning TikTok could empower Meta's Facebook, labeling it as 'enemy of the people'. He acknowledged national security and data privacy issues with TikTok but feared its absence would benefit Facebook. Trump's stance contrasts with President Biden's willingness to sign a bill banning TikTok due to national security concerns. Trump previously attempted to force TikTok's divestiture or removal, citing similar concerns.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:06 pm

MESO

Mesoblast shares surged following the announcement of FDA support for an accelerated approval pathway for rexlemestrocel-L, aimed at treating end-stage heart failure patients.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:50 pm

MESO

The U.S. FDA has indicated support for an accelerated approval pathway for Mesoblast Limited's rexlemestrocel-L, a treatment for end-stage ischemic heart failure patients with a left ventricular assist device (LVAD). This follows positive results from a pivotal study showing significant benefits, including reduced mortality and improved ability to wean off LVAD support. Mesoblast plans to request a pre-Biologics License Application meeting with the FDA to discuss further steps towards approval.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:48 pm