Streetbeat News

Regulatory

AWK

California American Water, a subsidiary of American Water Works Company, Inc. (AWK), has appealed a Superior Court decision to vacate a Monterey County Local Agency Formation Commission (LAFCO) approval. LAFCO has also filed a similar appeal.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 7:30 pm

SPY

The USA Federal Budget Balance for January was reported at -22.0 billion, significantly better than the estimated -39.3 billion and the previous month's -129.0 billion.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 7:00 pm

AMZN

GOOGL

META

RUM

SNAP

SPY

NSC Coordinator for Strategic Communications Kirby announced that TikTok is not approved for use on government devices, highlighting ongoing concerns about the app's security and data privacy.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 6:40 pm

AGRI

AgriFORCE Growing Systems is set to be issued US Patent Number 11,895,958 titled "Structures For Growing Plants (To Generate Micro-environment Conditions)". This patent represents a significant advancement in the technology for creating optimal growing conditions for plants, potentially enhancing the company's product offerings and market position.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 6:27 pm

ETH-USD

On Sunday, 5,933.58 Ether (ETH) worth approximately $15.48 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 drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -5.53% yesterday.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 6:00 pm

DIA

IWM

NFLX

QQQ

SPY

TSLA

January's inflation report is expected to show a decline in the annual headline inflation rate to 2.9%, the lowest since February 2021, with core inflation also anticipated to decrease. This could influence the Federal Reserve's interest rate decisions, potentially leading to rate cuts. The market is currently pricing in a 60% likelihood of a rate cut by May and up to 120 basis points of cuts in 2024. The S&P 500 and Nasdaq 100 have shown increases since the start of the year. December's CPI data led to mixed reactions in major US ETFs and stocks.

Portfolio Pulse from Piero Cingari

February 12, 2024 | 5:34 pm

TAK

The FDA has approved Takeda Pharmaceutical Co Ltd's Eohilia, the first oral treatment for eosinophilic esophagitis (EoE) for patients aged 11 and older. Eohilia demonstrated significant efficacy in achieving histologic remission and improving swallowing difficulties in two studies compared to placebo. It will be available in 2 mg/10 mL single-dose stick packs by the end of February. Takeda's shares saw a slight increase of 0.25% to $14.27 following the announcement.

Portfolio Pulse from Vandana Singh

February 12, 2024 | 5:17 pm

GOLD

IVPAF

The U.S. is increasing its involvement in African mining and infrastructure to compete with China's dominance in strategic mineral supply chains, focusing on the Copperbelt region for cobalt and copper crucial for decarbonization. The U.S. supports the Lobito corridor rail project, which will reduce transportation costs for mining companies like Ivanhoe Mines Ltd, potentially joined by Anglo American, Barrick Gold Corp, and First Quantum Minerals Ltd. This move is part of a broader strategy to secure supplies of essential minerals for renewable energy.

Portfolio Pulse from Matt Whittaker

February 12, 2024 | 5:09 pm

TTOO

T2 Biosystems, Inc. (NASDAQ:TTOO) shares rose after announcing FDA 510(k) clearance for the expanded T2Bacteria Panel, which now includes detection of Acinetobacter baumannii. This addition enhances the panel's coverage to approximately 75% of sepsis-causing pathogens. The company is set to report Q4 financial results soon. The stock's movement is also discussed in the context of technical analysis, with its 200-day moving average noted.

Portfolio Pulse from Erica Kollmann

February 12, 2024 | 4:52 pm

TTOO

T2 Biosystems' stock is trading higher following the announcement that the FDA has granted 510(k) clearance for the expanded T2Bacteria panel, indicating regulatory approval for an enhanced version of their diagnostic tool.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 4:38 pm