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Regulatory

PLTR

SRFM

Palantir Technologies Inc. has reported a 7.1% stake in Surf Air Mobility Inc., according to a 13G filing with the SEC as of February 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:45 pm

OCTO

Eightco Holdings Inc. (NASDAQ:OCTO) has completed its final repayment of the Hudson Bay Note ahead of schedule, reducing debt and enabling growth for its subsidiary Forever 8. The company also conducted a private placement at $0.82 per share and issued promissory notes to investors. Changes in company officers and the issuance of common stock to settle obligations were announced. These financial maneuvers aim to reduce costs and focus resources on Forever 8's growth.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:44 pm

GOOG

META

Legal cannabis shop owners in New York are urging Gov. Kathy Hochul to investigate and potentially take legal action against social media and tech companies like Google (NASDAQ:GOOG) and Meta (NASDAQ:META) for allegedly enabling unlicensed cannabis shops to advertise their businesses. This comes amid concerns that these companies are complicit in allowing illicit cannabis operations to thrive, undermining New York's legal cannabis market and regulations.

Portfolio Pulse from Jelena Martinovic

February 26, 2024 | 9:34 pm

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Ethereum (ETH) surged to $3,200, marking its first reach to this level since April 2022, with a 3.6% increase on the day. The upcoming Dencun upgrade in March and the potential approval of an Ether spot ETF in May are key drivers of this rally. The upgrade aims to address scalability issues and improve network efficiency. Ethereum's bullish trend follows Bitcoin's, with expectations of surpassing $4,000 if the ETF is approved. Open Interest in Ethereum has hit a two-year high, indicating increased market speculation and investment. Major firms like BlackRock, VanEck, and Grayscale are awaiting regulatory approval for their Ether ETF applications, with Coinbase named as custodian for five of these applications. However, the market sees only a 44% chance of ETF approval by May 31.

Portfolio Pulse from Khyathi Dalal

February 26, 2024 | 9:19 pm

GILD

Gilead Sciences announced that the FDA has approved an expanded indication for Biktarvy, allowing it to treat people with HIV who have suppressed viral loads and pre-existing resistance. This approval broadens the potential patient base for Biktarvy, enhancing its marketability and utility in HIV treatment.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:15 pm

DLTR

Dollar Tree, Inc. (DLTR) and its subsidiary Family Dollar have resolved a DOJ investigation into operations at Family Dollar's Arkansas distribution center, agreeing to a plea deal involving a $200,000 fine and a $41,475,000 forfeiture. The investigation, initiated by a March 2022 subpoena, focused on adulterated FDA-regulated products. Dollar Tree has since enhanced safety, compliance, and operational procedures, including hiring new compliance roles, implementing risk-based controls, and achieving Good Distribution Practices certification across its distribution centers. A new, safety-focused distribution center in West Memphis is planned for fall 2024.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:14 pm

The FAA released a report criticizing Boeing's safety culture, highlighting a disconnect in understanding and commitment to safety across the company's hierarchy. This follows a recent incident involving an Alaska Airlines flight and ongoing scrutiny after two fatal 737 Max crashes. The report, which includes 27 findings and 53 recommendations, mandates Boeing to create a detailed action plan to address these issues within six months. Boeing's stock showed minimal movement following the report's release.

Portfolio Pulse from Piero Cingari

February 26, 2024 | 9:13 pm

ACB

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CURLF

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HITI

TCNNF

TLRY

Following Germany's decision to legalize limited cannabis possession, U.S. and Canadian cannabis stocks like Curaleaf Holdings, Trulieve Cannabis Corp., Green Thumb Industries, Cresco Labs, Tilray, and Aurora Cannabis saw movements in their stock prices. Analysts predict significant growth potential in the German market, comparing it to Florida's medical cannabis market. Companies like Tilray and Aurora Cannabis, already established in Germany, are well-positioned to benefit. Curaleaf's affiliate owns a German importer, and High Tide Inc. expressed enthusiasm about entering the German market.

Portfolio Pulse from Maureen Meehan

February 26, 2024 | 9:13 pm

AZN

FGEN

FibroGen and AstraZeneca have mutually agreed to terminate their collaboration agreement on Roxadustat, which was initially entered into on July 30, 2013. As a result, FibroGen regains all rights to Roxadustat in the United States and other AstraZeneca territories, with the exception of China and South Korea.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:06 pm

SPY

U.S. Senate Republican Leader McConnell has assured that the federal government will not shut down, according to Reuters. This statement comes amidst concerns over potential government closures that could impact various sectors of the economy.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 8:58 pm