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Regulatory

MOVE

Movano Inc. shares surged following the announcement that the company has received a notice of allowance for its U.S. patent application, indicating a significant step forward in its intellectual property portfolio.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:51 pm

MOVE

Movano Inc. has received a notice of allowance for its U.S. patent application 16/682,780, which is focused on methods for monitoring blood glucose levels in a person using radio waves. This development represents a significant step forward in the company's efforts to innovate in the healthcare technology sector.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:35 pm

GH

Guardant Health Inc (NASDAQ:GH) reported Q4 2023 sales of $155.1 million, up 22% Y/Y, beating consensus. Precision oncology revenue grew 25% to $142.2 million. The company expects 2024 revenue of $655-$670 million. The FDA AdCom meeting for Shield CRC is delayed to Q2 but approval is still expected in 2024. Canaccord Genuity lowered GH's price target to $45 from $50. GH shares fell 11.8% to $19.64.

Portfolio Pulse from Vandana Singh

February 23, 2024 | 6:35 pm

FXI

SPY

U.S. Treasury's Adeyemo stated that the dollar's dominance in the global financial system hinges on the U.S. economy's strength and the attractiveness of U.S. investments. He also noted the challenges facing the Chinese economy, particularly in the property sector and demographics.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:17 pm

ETHUSD

On Thursday, 10,122.65 Ether (ETH) worth approximately $29.78 million was burned, permanently removing it from circulation. This action is part of the Ethereum blockchain's EIP-1159 upgrade, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing new Ether at a 4% annual rate, expected to decrease to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -12.06% yesterday.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 6:00 pm

HSBC

HSBC has filed for a mixed shelf offering with the SEC, though the size of the offering has not been disclosed. This move allows HSBC to sell various types of securities over time, providing flexibility in financing options.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:48 pm

SPY

In an Axios interview, Fed's Williams stated that his view of the economy remains unchanged after January data, indicating things are moving in the right direction. He mentioned that it would be appropriate to cut rates 'at some point,' likely later this year.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:18 pm

EWJ

TSM

Japan is set to provide approximately $4.85 billion in subsidies for TSMC's second chip plant in Kumamoto, aiming to enhance domestic chip production competitiveness. The subsidies, announced during the opening of TSMC's first Kumamoto plant, support the construction of a facility that will produce more advanced 6-nanometer chips. This move is part of Japan's broader strategy to bolster its semiconductor industry, with TSMC investing over $20 billion in both plants. The plants are expected to significantly contribute to technologies like autonomous driving and AI.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:16 pm

LEGN

Legend Biotech's shares are trading higher following the announcement of a positive CHMP opinion for CARVYKTI, aimed at treating patients with relapsed and lenalidomide refractory multiple myeloma in earlier lines of therapy.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:05 pm