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Regulatory

ETHUSD

Ethereum (ETH) has seen a 15% weekly gain, nearing the $3,000 mark, outperforming Bitcoin's 9% gain. Significant whale transactions and a bullish outlook from analysts, including Ethereum's net supply reduction post-The Merge, contribute to the positive momentum. The SEC is reviewing applications for a spot Ether ETF, with major firms involved. The upcoming Dencun hard fork in March 2024 is also anticipated to impact Ethereum positively.

Portfolio Pulse from Khyathi Dalal

February 19, 2024 | 9:11 pm

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China's Hainan province has reduced the minimum down payment for first-time homebuyers to 20% from 25%, following similar measures in Beijing and Shanghai to boost the housing market. Despite these efforts, the overall real estate market faces challenges, with new-home sales remaining subdued. Goldman Sachs' chief China economist, Hui Shan, indicates that the housing downturn in China is ongoing, with real house prices declining by 16% since Q3 2021. The Hong Kong Hang Seng Index, related to offshore Chinese stocks and tracked by the iShares MSCI Hong Kong Index Fund (EWH), dropped over 1% after a previous surge.

Portfolio Pulse from Piero Cingari

February 19, 2024 | 7:30 pm

TSLA

Tesla Inc (NASDAQ:TSLA) hosted a 'safety research day' focusing on its vehicle safety advancements, including autopilot technology. The event, led by VP of Vehicle Engineering Lars Moravy, included leaders from government, academia, and NGOs. Tesla aims to share its safety findings with regulators and researchers for public benefit. This initiative follows recent media scrutiny over Tesla's full self-driving beta software related to a fatal accident. CEO Elon Musk defended the software, suggesting the accident might have been avoided if FSD had been engaged.

Portfolio Pulse from Anan Ashraf

February 19, 2024 | 6:20 pm

IGC

IGC Pharma Inc (AMEX:IGC) reported a Q3 2024 net loss of $5.59 million and a 38% decline in revenue, despite achieving significant patent milestones and a 40% increase in nine-month revenue. The company highlighted progress in AI integration and Phase 2 trials for IGC-AD1, a potential blockbuster Alzheimer's treatment.

Portfolio Pulse from Patricio Liddle

February 19, 2024 | 6:17 pm

ETHUSD

On Sunday, 4,728.74 Ether (ETH) worth approximately $13.9 million was burned, permanently removing it from circulation. This action is part of the Ethereum blockchain's EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, 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 -3.53% yesterday.

Portfolio Pulse from Benzinga Insights

February 19, 2024 | 6:00 pm

BHP

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Peru has approved a $2 billion expansion of the Antamina copper and zinc mine, owned by Glencore PLC, BHP Group Ltd, Teck Resources, and Mitsubishi Corporation. The project aims to extend the mine's life from 2028 to 2036, increasing its area by 25% and deepening the open pit. This expansion is crucial for Peru to maintain its position as a leading copper producer and for the global supply amid the transition to a low-carbon economy.

Portfolio Pulse from Stjepan Kalinic

February 19, 2024 | 5:05 pm

GFS

INTC

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GlobalFoundries Inc (NASDAQ:GFS) is set to receive $1.5 billion from the CHIPS Act for expanding its New York and Vermont facilities. This marks the first grant under the act aimed at boosting U.S. semiconductor production. Intel (NASDAQ:INTC), Texas Instruments (NASDAQ:TXN), and other companies have also applied for grants. The CHIPS Act, responding to semiconductor shortages and national security concerns, supports domestic chip production to reduce reliance on foreign manufacturing.

Portfolio Pulse from Neil Dennis

February 19, 2024 | 4:39 pm

PFE

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Pfizer Inc. received marketing authorization from the European Commission for VELSIPITY to treat patients 16+ with moderately to severely active ulcerative colitis in the EU, targeting those with inadequate response to prior treatments.

Portfolio Pulse from Charles Gross

February 19, 2024 | 4:03 pm

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The FDA has accepted the Biologics License Application (BLA) for datopotamab deruxtecan, a potential first TROP2 directed antibody drug conjugate for non-squamous NSCLC after prior therapy, developed by Daiichi Sankyo and AstraZeneca. The application is based on results from the TROPION-Lung01 phase 3 trial.

Portfolio Pulse from Charles Gross

February 19, 2024 | 3:56 pm

AAPL

Apple Inc.'s decision to support RCS in iMessage by 2024 is reportedly influenced more by China than Europe, contrary to previous beliefs. John Gruber's report suggests that pressure from China, where iPhones are under scrutiny, and the Chinese government's mandate for RCS support in new 5G devices, are key factors in this decision. This challenges the notion that the European Commission's Digital Markets Act influenced Apple's move.

Portfolio Pulse from Rounak Jain

February 19, 2024 | 2:13 pm