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Regulatory

AAPL

TSLA

Morgan Stanley analyst Adam Jonas suggests Apple Inc's halt on its electric car project may be due to lacking a significant dataset for autonomous driving, unlike Tesla's extensive data from its fleet. Apple reportedly had only 67 vehicles covering 450,000 miles for testing, in stark contrast to Tesla's 5 million vehicles and 50 billion miles annually. The closure of Apple's car project, after nearly a decade of development and significant R&D investment, is attributed to strategic shifts and concerns over profit margins, with some employees transitioning to the generative AI division.

Portfolio Pulse from Anan Ashraf

February 29, 2024 | 6:44 am

BTCUSD

Despite the Chinese government's crackdown on cryptocurrencies, Bitcoin (BTC) continues to see rising interest on Chinese social media platforms. This interest persists even as China faces economic challenges and the government intensifies scrutiny on crypto activities. Bitcoin's price recently surged over 10% to a new 2024 high of $64,000. Despite regulatory pressures, China still ranks high in global cryptocurrency adoption and trading volumes.

Portfolio Pulse from Mehab Qureshi

February 29, 2024 | 6:43 am

BBJP

DXJ

EWJ

The Bank of Japan's Core Consumer Price Index (CPI) year-over-year has been reported at 2.6%, which is higher than the estimated 2.3% but remains the same as the prior figure.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 5:12 am

BABA

HOOD

SKGR

Webull Corporation is planning a U.S. listing through a merger with SK Growth Opportunities Corp. (NASDAQ:SKGR), valuing the combined entity at $7.3 billion. The move comes after Webull decided to divest its cryptocurrency trading operations due to regulatory challenges, aiming to comply with SEC requirements. This strategic pivot is seen as a key step in overcoming previous obstacles to going public. Webull, with 20 million users and $370 billion in equity notional volumes, also announced a partnership with the Brooklyn Nets and New York Liberty.

Portfolio Pulse from Piero Cingari

February 28, 2024 | 11:02 pm

SPY

Congressional leaders have reached a government funding deal to avert a potential shutdown, pushing two deadlines to March 8 and March 22 for different sets of funding bills. The agreement, resulting from bipartisan negotiations, covers six annual spending bills and aims to fund agencies through September. The deal also sets the stage for President Joe Biden's State of the Union address and involves intense discussions on contentious bills, including defense and homeland security funding. The passage of the stopgap measure is crucial to prevent a partial government shutdown by Saturday.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 10:25 pm

CXM

MDRX

Sprinklr will replace Veradigm in the S&P SmallCap 600 before trading opens on March 4, 2024, due to Veradigm's suspension from the Nasdaq on February 29 for not complying with listing rules.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 10:19 pm

NVRO

Nevro Corp. (NYSE:NVRO) announced FDA clearance for its Nevro1 sacroiliac joint fusion device, marketed as NevroFix, which can now be used without a lateral screw. This device, featuring self-contained, deployable titanium anchors and 3D-printed bone-growth technology, represents a significant advancement in SI fusion. This clearance follows Nevro's acquisition of Vyrsa Technologies in November 2023, enhancing its portfolio in the SI joint space.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:54 pm

IKT

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) announced outcomes of its pre-NDA meeting with the FDA regarding IkT-001Pro, a prodrug of imatinib mesylate for treating blood and stomach cancers. The FDA's feedback was positive, suggesting no need for a formal risk analysis of medication errors and allowing the pursuit of all 11 indications previously approved for imatinib mesylate. The company plans further discussions with the FDA on cardiopulmonary applications of IkT-001Pro in April 2024. IkT-001Pro aims to be a safer alternative to imatinib, with potential benefits for patients with Stable-Phase Chronic Myelogenous Leukemia.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:51 pm

AMPE

Ampio Pharmaceuticals, Inc. (AMPE) has notified H.C. Wainwright & Co., LLC of its decision to terminate their At The Marketing Offering Agreement dated September 18, 2023. This agreement was for an at-the-market equity distribution program. The termination will be effective on March 6, 2024. Additionally, AMPE filed a post-effective amendment to withdraw and remove any unsold or unissued securities under its Registration Statement, including shares covered by the at-the-market offering agreement.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 8:51 pm

MNPR

Monopar Therapeutics has been granted a 180-day extension by Nasdaq to regain compliance, extending the deadline to August 26th. This news has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 8:21 pm