Streetbeat News

Regulatory

PBF

SHEL

USO

A shipment of 10,000 barrels of Russian oil entered the U.S. through a loophole, despite sanctions, and was processed by PBF Energy in Delaware. Oil prices were influenced by Federal Reserve comments and global production data. Shell reported strong Q4 earnings, with other oil majors set to report soon. The United States Oil Fund saw a price adjustment in response to these developments.

Portfolio Pulse from Neil Dennis

February 01, 2024 | 2:17 pm

CYDY

CytoDyn has submitted a clinical protocol to the FDA and initiated a pre-clinical study targeting glioblastoma. This marks a significant step in the company's efforts to develop treatments for this aggressive form of brain cancer.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:44 pm

AUVI

GOOS

NRBO

NeuroBo Pharmaceuticals received FDA clearance for a Phase 1 clinical trial of DA-1726 for obesity treatment, causing NRBO stock to surge 103%. Applied UV projects potential revenues of $250M-$300M over 3-6 years from a new project, boosting AUVI shares by 28%. Canada Goose reported Q3 2024 adjusted EPS of C$1.37, meeting expectations, but sales of C$609.90M fell short of the C$620.05M estimate, leading to a 12% increase in GOOS shares.

Portfolio Pulse from ryanfaloona@benzinga.com

February 01, 2024 | 1:36 pm

ICU

SeaStar Medical has been granted a Canadian patent for its Cytopheretic Device technology, which is a significant development for the company. This patent covers broad claims related to the technology, potentially strengthening SeaStar Medical's position in the medical device market.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:30 pm

NVIV

Trading for NVIV was halted and then resumed at 8:25 AM ET, following an update on its status. This event indicates a significant occurrence that prompted the halt and resumption, which could be due to a variety of reasons such as financial disclosures, regulatory news, or other material events.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:25 pm

BTCUSD

ETHUSD

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin fell after the Fed left rates unchanged, signaling a temporary setback. Meanwhile, a new ETF allows investment in major tech stocks, and Binance faces a lawsuit for allegedly aiding terrorists. In the US, market sentiment declined following the Fed's decision, impacting stocks and the Dow. Globally, tensions with Iran and China's cyber activities raise concerns. Economic indicators suggest a looming recession, while in tech, Apple's new products and partnerships draw attention. The electric vehicle sector sees advancements and legal challenges for Tesla.

Portfolio Pulse from Akanksha Bakshi

February 01, 2024 | 1:22 pm

BABA

NVDA

SOXL

Nvidia Corp (NASDAQ:NVDA) stock is up amid pre-orders for its new AI chip, the H20, for the Chinese market, competing with Huawei. Despite being less powerful than other Nvidia chips and Huawei's Ascend 910B, the H20 is priced between $12,000 and $15,000. Nvidia aims to maintain its presence in China, facing domestic competition and U.S. sanctions. Reports suggest Chinese cloud companies like Alibaba (NYSE:BABA) may reduce orders for high-end AI chips from Nvidia by 50%-60% within five years. Nvidia's stock gained 194% last year, with an 8% exposure to Direxion Daily Semiconductor Bull 3x Shares (NYSE:SOXL).

Portfolio Pulse from Anusuya Lahiri

February 01, 2024 | 1:19 pm

TNXP

Tonix Pharmaceuticals announced the results of its second Phase 3 trial for its fibromyalgia treatment candidate, TNX-102. The company plans to file for FDA approval based on these results.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:13 pm

GEHC

GE HealthCare has received 510(k) clearance from the FDA for its Novii+ Wireless Patch Solution, marking a significant regulatory approval that could enhance the company's product offerings in the healthcare sector.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:02 pm

NRBO

NeuroBo Pharmaceuticals has received FDA clearance for its Investigational New Drug (IND) application, allowing it to proceed with a Phase 1 clinical trial of DA-1726, a drug aimed at treating obesity. This marks a significant step forward in the company's development pipeline and could potentially address a major health issue globally.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 1:02 pm