Streetbeat News

Regulatory

EIS

USO

Qatar has announced that Israel has agreed to a ceasefire proposal, potentially signaling an end to recent hostilities. This development could have implications for regional stability and global markets, particularly in energy and geopolitical risk sectors.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 5:50 pm

CELU

CMPR

NRBO

PTON

REVB

VLCN

U.S. stocks traded higher with the S&P 500 gaining 0.5%. Consumer staples shares rose by 1.4%, while financial shares fell by 0.9%. ISM manufacturing PMI rose to 49.1, the highest since Oct. 2022. Cimpress, NeuroBo Pharmaceuticals, and Celularity saw significant stock price increases following positive announcements. Conversely, Revelation Biosciences, Peloton Interactive, and Volcon experienced notable declines.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 5:04 pm

BTI

The FDA has issued warning letters to 14 online e-cigarette retailers for selling unauthorized vaping products. This action is part of the FDA's ongoing efforts to regulate the e-cigarette market and protect consumers, especially minors, from the dangers of vaping. The companies involved are not directly named, but the article hints that major tobacco companies like British American Tobacco (BTI), Altria Group (MO), and Philip Morris International (PM) may be indirectly affected due to their investments in the vaping industry.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:58 pm

KSA

USO

Saudi Arabia is currently considering an invitation to join the BRICS group, as reported by Reuters. The country has not yet provided a response to the invitation.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 4:07 pm

QQQ

SPY

Goldman Sachs has revised its forecast for the first Federal Reserve interest rate cut from March to May following the January FOMC meeting, where Fed Chair Jerome Powell indicated a more hawkish stance on monetary policy. This shift in expectations led to significant losses on Wall Street, with the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) experiencing their worst trading days since September and October 2023, respectively.

Portfolio Pulse from Piero Cingari

February 01, 2024 | 3:53 pm

NRBO

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) shares surged after the FDA cleared its IND application for DA-1726, a novel obesity treatment. The company plans to start a Phase 1 clinical trial in the first half of 2024. DA-1726, a dual oxyntomodulin analog agonist, showed superior weight loss in mouse models compared to existing treatments. NeuroBo's stock soared 41% on heavy trading volume, significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

February 01, 2024 | 3:08 pm

NRBO

NeuroBo Pharmaceuticals' shares surged following the FDA's clearance of the IND for a Phase 1 clinical trial of DA-1726, aimed at treating obesity.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:06 pm

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