Streetbeat News

Regulatory

SLAB

Silicon Labs has postponed its Q4 2023 earnings call to review inventory control documentation. A material weakness was found, but no misstatements in prior financial statements have been identified. The company plans to release Q4 results on February 7, 2024, and file its Form 10-K by the end of February 2024.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:12 pm

DNMR

Danimer Scientific has received a notice from the NYSE regarding a deficiency in meeting the minimum share price standard. The company has notified the NYSE of its intention to remedy this deficiency within six months.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:09 pm

IBIT

Joe Saluzzi, co-founder of Themis Trading, criticized SEC Chairman Gary Gensler for approving spot Bitcoin ETFs, suggesting he should have resisted the pressure from the crypto industry. Saluzzi believes this decision, which followed the approval of Bitcoin futures ETFs, sets a risky precedent and gives unwarranted legitimacy to cryptocurrencies. He also mentioned the BlackRock application for options trading on its iShares Bitcoin Trust (IBIT) shares and expressed concerns over the lack of market surveillance. Saluzzi also commented on Vanguard's decision not to offer Bitcoin ETFs and the Federal Reserve's potential rate cuts.

Portfolio Pulse from Ivan Crnogatić

January 29, 2024 | 10:07 pm

FEAM

5E Advanced Materials Inc has filed with the SEC for an offering of up to 85.3 million shares by selling stockholders. This move could potentially dilute current shareholders' equity.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:07 pm

WBUY

Webuy, presumably a publicly traded company, has received a notification from Nasdaq concerning non-compliance with the exchange's minimum bid price requirement. This could indicate that Webuy's stock price has fallen below the minimum threshold set by Nasdaq for a certain period, and the company may need to address this issue to maintain its listing.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:06 pm

ABBV

IMGN

ImmunoGen announced that the German Federal Cartel Office has unconditionally approved its merger with AbbVie Inc, as per a recent SEC filing. This regulatory approval is a significant step towards finalizing the merger between the two companies.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 10:05 pm

CDTX

Cidara Therapeutics' stock is up following the MHRA approval of REZZAYO for treating invasive candidiasis in adults.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:59 pm

CDTX

Cidara Therapeutics has announced that the UK's Medicines and Healthcare products Regulatory Agency (MHRA) has approved REZZAYO for the treatment of invasive candidiasis in adults. This approval marks a significant milestone for the company as it expands the availability of its antifungal treatment.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:36 pm

SCHW

Charles Schwab Corporation (NYSE:SCHW) is reportedly preparing to launch a spot Bitcoin ETF, which could simplify investment in digital assets for retail investors. Industry experts believe this could be a game-changer by providing a regulated investment vehicle, reducing concerns about volatility and security. The move could fill a gap left by Vanguard's decision to avoid Bitcoin ETFs. Opinions are mixed, with some seeing it as a cautious market test, while others emphasize the long-term demand from younger investors. The launch could integrate digital assets into mainstream finance, increase liquidity, and enhance price discovery in the crypto market.

Portfolio Pulse from Murtuza Merchant

January 29, 2024 | 8:36 pm

AMZN

GOOG

GOOGL

IRBT

SN

iRobot Corporation's (NASDAQ:IRBT) merger with Amazon.com, Inc. (NASDAQ:AMZN) was terminated, causing iRobot shares to fall over 16%, then recover to a 7% daily drop. Amazon will pay a $94 million termination fee. iRobot is restructuring, laying off 350 employees, and CEO Colin Angle resigned. The European Commission's antitrust concerns over competition in the vacuum industry led to the deal's collapse. Short seller Spruce Point Capital had a long-standing bearish position on iRobot. Amazon's stock was up 1%, but the failed deal may affect its future acquisitions and comes amid antitrust scrutiny.

Portfolio Pulse from Natan Ponieman

January 29, 2024 | 8:12 pm