Streetbeat News

Regulatory

NVS

The FDA has approved JUBBONTI, a new drug developed by SANDOZ INC, a division of Novartis (NVS). This approval marks a significant milestone for SANDOZ INC and potentially enhances Novartis's product portfolio.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:26 pm

AMD

AOTG

NVDA

SOXQ

AMD stock is trading lower due to difficulties in selling its AI chip in China, following U.S. export restrictions. The U.S. deemed AMD's compliant chip too advanced, requiring a special license for distribution. This comes amid broader U.S. efforts to limit China's access to advanced semiconductors, with China moving towards the RISC-V architecture to reduce reliance on Western technologies like AMD's x86. AMD is recognized as a key player in AI technology, second to Nvidia. Investors can gain exposure to AMD through AOT Growth And Innovation ETF (AOTG) and Invesco PHLX Semiconductor ETF (SOXQ).

Portfolio Pulse from Anusuya Lahiri

March 05, 2024 | 3:11 pm

SPY

VGK

Hungarian President has signed the ratification of Sweden's NATO membership, marking a significant step in Sweden's journey to join the North Atlantic Treaty Organization.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:07 pm

LLY

The U.S. FDA announced that there will be limited availability of Mounjaro injections in dosages of 10 mg/.5 ml, 15 mg/.5 ml, and 12.5 mg/.5 ml through early March 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:03 pm

CRLBF

Ohio has reduced annual registration fees for medical marijuana patients and caregivers to one cent, amidst delays in implementing the state's voter-approved adult-use cannabis law. Political disagreements have stalled the process, with towns opting out of cannabis sales. Cresco Labs, operating dispensaries and a growth facility in Ohio, remains optimistic about eventual community acceptance. The Benzinga Cannabis Capital Conference in Florida is highlighted as an upcoming event for cannabis entrepreneurs.

Portfolio Pulse from Maureen Meehan

March 05, 2024 | 2:59 pm

WAVD

Firefly Neuroscience, Inc. announced findings from a white paper titled 'Brain Network Analytics (BNA) in the Psychiatric Practice: Real-Life Data Analysis', showcasing the significant impact of its BNA™ Platform on disease management in 2,253 U.S patients. The FDA-approved tool demonstrated improvements in treatment compliance, medication selection, and overall patient outcomes for major depressive disorder, generalized anxiety disorder, and ADHD. Additionally, Firefly is set to merge with WaveDancer, Inc. (NASDAQ:WAVD), pending stockholder approval.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:18 pm

ABNB

IWGFF

UBER

IWG Plc, a provider of flexible office solutions, is considering a U.S. stock market listing to align its valuation with tech giants like Uber and Airbnb. The company, known for Regus office spaces, is transitioning to report in dollars and adopting U.S. GAAP standards, reflecting its earnings generation in the region. CEO Mark Dixon highlighted the move as part of IWG's growth strategy and adaptation to post-pandemic work trends. Despite efforts to reposition as a tech-forward platform, IWG faces investor skepticism, partly due to the lack of direct competitors for valuation benchmarking.

Portfolio Pulse from Akanksha Bakshi

March 05, 2024 | 2:15 pm

KIQ

Kelso Technologies Inc. (KIQ) announced its intention to voluntarily delist its shares from the NYSE American due to non-compliance with the exchange's listing standards related to low share price. The company decided against a reverse split, deeming it not in shareholders' best interest. Kelso's shares will continue to trade on the Toronto Stock Exchange (TSX). The delisting process is expected to be completed around March 25, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:06 pm

CDIO

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO), an AI-driven precision cardiovascular medicine company, announced the U.S. Patent and Trademark Office has issued a notice of allowance for a patent application exclusively licensed to the company for detecting predisposition to cardiovascular disease. This marks the second U.S. patent in this family, with additional patents issued in the EU, China, India, and Australia. The technology aims to address the significant health burden of cardiovascular disease (CVD) in the U.S., where heart disease is the leading cause of death. The company's IP portfolio includes clinical blood tests and software solutions designed to improve prevention, detection, and management of CVD.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:34 pm

EMXC

IEMG

SSNLF

TSM

Emerging market assets, particularly tech stocks like TSMC and Samsung, have begun recovering from 2022's losses, driven by AI and chip sector growth. The iShares Core MSCI Emerging Markets ETF (IEMG), which includes TSMC and Samsung, saw a significant drop but has started to recover. Despite challenges, emerging markets are seen as mispriced and offer investment opportunities, especially with China's government pledging support. The iShares MSCI Emerging Markets Ex-China ETF (EMXC) provides an alternative for those wary of China exposure.

Portfolio Pulse from Neil Dennis

March 05, 2024 | 1:32 pm