Streetbeat News

Regulatory

SGHT

Sight Sciences, Inc. (NASDAQ:SGHT) announced the European launch of the Ergo-Series of the OMNI Surgical System at the ESCRS Winter Meeting. The system, designed for minimally invasive glaucoma procedures, has been well received in the U.S. for its ergonomic design and precise cannula tip. The launch follows the receipt of the CE Mark under the new EU Medical Device Regulation, indicating a positive outlook for its adoption in Europe.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 9:37 pm

GDHG

Golden Heaven Group Holdings Ltd. (GDHG), a China-based amusement park operator, received a Nasdaq notification for not meeting the minimum bid price requirement. The company's shares fell below the $1.00 threshold for 30 consecutive days. Nasdaq has given GDHG until August 6, 2024, to regain compliance, potentially through measures like a reverse share split. The notification does not currently affect GDHG's listing or operations.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 9:27 pm

NXU

Nxu announced it has fully regained compliance with Nasdaq's continued listing requirements, ensuring its continued presence on the exchange.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 9:01 pm

QQQ

SPY

Bluford Putnam, former chief economist at CME Group, downplayed the significance of the January inflation numbers, suggesting the market overreacted to a slight month-over-month increase. He believes the Federal Reserve will delay rate cuts until at least June or July, emphasizing the importance of a cautious approach to avoid reigniting inflation. The S&P 500 and NASDAQ, along with ETFs SPY and QQQ, experienced declines following the inflation report. Putnam also highlighted the potential risks facing regional banks with significant exposure to commercial real estate loans.

Portfolio Pulse from Neil Dennis

February 14, 2024 | 7:31 pm

QQQ

SPY

Treasury Secretary Janet Yellen emphasized the importance of focusing on the long-term inflation trend, stating inflation is 'moving decisively down' despite a recent report showing a rise in January's inflation figures. The S&P 500 and Nasdaq experienced significant sell-offs following the report but saw partial recoveries the next day. Yellen highlighted improvements in the economy, including lower gas prices, declining prices for eggs and cars, and wage increases, particularly for lower-income workers. She also discussed the U.S. economy's resilience compared to other advanced economies and the focus on supporting middle-class families and investments in clean energy.

Portfolio Pulse from Dustin Blitchok

February 14, 2024 | 7:01 pm

LMT

Lockheed Martin's stock is trading lower following reports that the Biden administration's 2025 defense budget includes an 18% reduction in the Pentagon's purchase of F-35 jets. This cut could significantly impact Lockheed Martin's revenue and future contracts, as the F-35 program is a major part of their defense portfolio.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 6:30 pm

ETH-USD

On Tuesday, 6,541.44 Ether (ETH) worth approximately $17.9 million was burned, permanently removing it from circulation. This action follows 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 -6.48% yesterday.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 6:00 pm

ACI

KR

Colorado Attorney General Phil Weiser has filed a lawsuit to prevent the proposed merger between Kroger and Albertsons, arguing that it could potentially harm competition and negatively impact consumers.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 5:57 pm

ABT

The FDA's Circulatory System Devices Panel has favorably reviewed Abbott Laboratories' TriClip device for treating tricuspid regurgitation (TR), with votes supporting its safety, effectiveness, and risk/benefit profile. The TriClip, a minimally invasive device designed for the tricuspid valve, has been approved in over 50 countries and treated over 10,000 people. The FDA's final decision on the device is expected in 2024. Abbott's stock (ABT) saw a slight increase of 0.18% to $111.54.

Portfolio Pulse from Vandana Singh

February 14, 2024 | 5:47 pm

SPY

U.S. Treasury Secretary Yellen commented on the market's reaction to the latest CPI data, stating that focusing on minor fluctuations is a mistake. She highlighted that the prices of gasoline, eggs, cars, and trucks have declined, indicating that inflation is returning to normal levels.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 5:36 pm