Streetbeat News

Regulatory

HROW

Harrow, Inc. (NASDAQ:HROW) has entered into an exclusive out-licensing agreement with Apotex Inc., Canada's largest pharmaceutical company, to market and distribute five branded ophthalmic pharmaceutical products in Canada. The agreement includes the marketing and distribution of VERKAZIA® and Cationorm® PLUS, as well as pursuing market approval in Canada for VEVYE®, IHEEZO®, and ZERVIATE®. This partnership marks Harrow's entry into the Canadian market, aiming to enhance access and availability of these ophthalmic products to Canadian patients.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:20 pm

CNDB

GCT Semiconductor and Concord Acquisition Corp III (NYSE:CNDB) announced the SEC's approval of their Registration Statement for a proposed business combination. A special meeting for Concord's stockholders is set for February 27, 2024, to vote on the merger. Post-merger, the combined entity plans to list its shares and warrants on the NYSE under the symbols 'GCTS' and 'GCTSW', respectively, following the audit of GCT's 2023 financial statements.

Portfolio Pulse from Happy Mohamed

February 15, 2024 | 9:18 pm

ALNY

Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) reported a Q4 2023 adjusted EPS loss of $(0.77), beating estimates but missing sales consensus with $439.72 million. The company updated its HELIOS-B Phase 3 study timeline for vutrisiran and received FDA clearance for a Phase 1 study of ALN-APP. It forecasts FY 2024 net product revenues of $1.4 billion-$1.5 billion. Analyst ratings include a Neutral from Cantor Fitzgerald with a $165 target and a Peer Perform from Wolfe Research. ALNY shares dropped 8.83% to $149.66.

Portfolio Pulse from Vandana Singh

February 15, 2024 | 8:29 pm

APLT

Applied Therapeutics Inc (NASDAQ:APLT) shares surged 34.70% to $3.61 after announcing positive interim 12-month results from its Phase 3 INSPIRE trial for govorestat (AT-007) in treating SORD Deficiency. The trial met its primary and key secondary endpoints, demonstrating significant reductions in toxic sorbitol levels and improvements in patient mobility and well-being. The company plans to request a pre-NDA meeting with the FDA.

Portfolio Pulse from Vandana Singh

February 15, 2024 | 8:25 pm

USO

The U.S. has carried out a cyberattack against a suspected Iranian spy ship, as reported by NBC News. This action represents a significant move in the realm of cyber warfare and could have implications for geopolitical tensions and cybersecurity sectors.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 8:12 pm

SPY

USO

The U.S. Energy Department has awarded contracts for 2.95 million barrels of U.S.-produced crude oil to be added to the Strategic Petroleum Reserve, according to Reuters citing an official statement.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 8:07 pm

CMCSA

Former President Donald Trump's hush money case will proceed with jury selection on March 25, as Judge Juan Merchan denied requests to dismiss the case or delay the trial. Trump faces 34 felony charges related to payments to Stormy Daniels. The trial's timing during the 2024 election campaign means Trump will have to manage his campaign alongside court appearances. Trump criticized the trial as politically motivated and the impact on his campaign schedule. A documentary about Stormy Daniels, titled 'Stormy', will be released on Comcast Corporation's Peacock platform on March 18.

Portfolio Pulse from Chris Katje

February 15, 2024 | 7:48 pm

KRE

NYCB

VLY

Financial regulators are set to scrutinize banks with significant commercial real estate (CRE) loan exposure. Valley National Bancorp and 15 other banks are highlighted for their high CRE loan growth and exposure. New York Community Bancorp, despite high exposure, is not under increased scrutiny due to slower growth. The SPDR S&P Regional Banking ETF saw a 2.4% increase, partly due to positive 13F filings and anticipation of Federal Reserve rate cuts.

Portfolio Pulse from Piero Cingari

February 15, 2024 | 7:33 pm

DIS

FOX

WBD

The streaming deal involving Disney, Fox, and Warner is under scrutiny by the Department of Justice (DOJ) for potential antitrust issues, as reported by Bloomberg Law. This review could impact the future operations and strategies of the companies involved in the streaming sector.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 7:16 pm

CBRE

GLD

IWM

TSLA

USO

WFC

U.S. stocks surged with the S&P 500 crossing 5,000 points, driven by strong corporate earnings and speculation of Fed rate cuts following disappointing retail sales. Small caps led gains, with the iShares Russell 2000 ETF up 1.4%. Commodities rose, with gold and crude oil prices increasing. Key ETFs like SPY, DIA, and QQQ showed varied performance. Sector-wise, energy stocks outperformed while technology lagged. Notable stock movements included Tesla's rise on regulatory optimism, Wells Fargo's gain after regulatory clearance, and mixed reactions to earnings reports from companies like CBRE, Deer & Company, and others.

Portfolio Pulse from Piero Cingari

February 15, 2024 | 7:12 pm