Streetbeat News

Regulatory

EIS

SPY

VGK

U.S. CIA Director Burns has stated that a ceasefire deal in Gaza remains a possibility, though many complicated issues need resolution. This development could impact market sentiment and specific ETFs tracking U.S. and European markets.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 4:51 pm

QQQ

SPY

UUP

U.S. inflation in February 2024 exceeded forecasts, with the CPI rising by 3.2% year-over-year and core inflation at 3.8%. Despite this, the dollar strengthened and stocks rallied, with notable movements in the SPDR S&P 500 ETF Trust (SPY), Invesco QQQ Trust (QQQ), and the Invesco DB USD Index Bullish Fund ETF (UUP). Economists provided mixed reactions, highlighting the complexity of the inflation landscape and its implications for Federal Reserve policy.

Portfolio Pulse from Piero Cingari

March 12, 2024 | 4:45 pm

INDV

Indivior PLC (NASDAQ:INDV) announced successful results from a pharmacodynamic study showing that its nasal spray, OPVEE, rapidly reverses opioid-induced respiratory depression, a major cause of death from opioid overdose, more effectively than naloxone. The study, part of the OPVEE development program, demonstrated OPVEE's superiority in reversing the effects of remifentanil, a synthetic opioid related to fentanyl, within the first 5 minutes of administration.

Portfolio Pulse from Jelena Martinovic

March 12, 2024 | 4:23 pm

ASTS

AST SpaceMobile, Inc. (NASDAQ:ASTS) has updated its satellite constellation filing with the ITU and FCC, aligning its planned commercial satellites under U.S. jurisdiction. This move is part of AST SpaceMobile's strategy to build the first space-based cellular broadband network accessible by smartphones. The company, benefiting from U.S. regulatory frameworks, has secured investments from AT&T, Google, and Vodafone, and a contract with the U.S. Government. It has partnerships with over 40 mobile operators globally.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 4:17 pm

GERN

Geron's stock price dropped following reports that FDA staff reviewers have raised concerns about the substantial risks associated with its anemia drug, Imetelstat.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 4:12 pm

COIN

MSTR

TSLA

The crypto market cap hits $2.5T with Bitcoin, Ethereum, Dogecoin surging as MicroStrategy buys more BTC. Tesla's German factory resumes after an arson attack. MILLI's value increases, outperforming Dogecoin and Shiba Inu. $47M stolen in crypto phishing in February. Bitcoin's volatility expected to decrease, while Ethereum's ETF approval odds drop. Ark Invest sells Coinbase shares despite Bitcoin's new highs. Tesla offers early Cybertruck delivery to long-term shareholders, and Volvo aims to cut EV charging times.

Portfolio Pulse from Akanksha Bakshi

March 12, 2024 | 4:04 pm

DXCM

DexCom Inc's Stelo Glucose Biosensor System has received FDA approval as the first over-the-counter continuous glucose monitor, signaling rapid expansion and significant revenue potential. RBC Capital Markets initiated coverage with an Outperform rating and a $165 price target, highlighting DexCom's potential as a fast-growing large-cap MedTech company. The Stelo system, set for a 2024 launch, is expected to be a major growth catalyst, targeting a large patient market.

Portfolio Pulse from Priya Nigam

March 12, 2024 | 3:54 pm

UNH

White House officials met with UnitedHealth CEO and other providers and payers in a joint meeting to discuss a recent hack. This marks the first collective meeting, following individual meetings with all involved parties since the incident.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:47 pm

BA

Boeing shares are trading lower following a report that the company failed 33 of 89 audits by the FAA. Additionally, United Airlines has instructed Boeing to stop building 737 Max 10 jets for them.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:28 pm

AAPL

Apple Inc. (NASDAQ:AAPL) is set to allow developers in the European Union to distribute iOS apps directly from their websites, a significant policy change. This new distribution method, available through a forthcoming software update, requires developers to adhere to Apple's strict app development and notarization rules. The move aligns with the EU's Digital Markets Act and is part of Apple's efforts to support alternative app stores in the region. Apple's stock was slightly up following the announcement.

Portfolio Pulse from Rounak Jain

March 12, 2024 | 3:11 pm