Streetbeat News

Regulatory

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

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

MULN

Mullen Automotive's stock is trading higher following the announcement that its all-electric Class 3 low cab forward chassis truck has received certification from the California Air Resources Board, indicating a positive development for the company in the electric vehicle (EV) market.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 8:06 pm

GBTC

GOOGL

META

Alphabet Inc (NASDAQ:GOOGL) has updated its advertising policy to allow certain cryptocurrency products, including Cryptocurrency Coin Trusts, to advertise on its network starting Jan. 29. This change could increase mainstream adoption of cryptocurrencies by enhancing visibility and credibility. The Grayscale Bitcoin Trust (OTC:GBTC), now a spot Bitcoin ETF, stands to benefit from this policy change. Previously, Google and Meta (NASDAQ:META) had banned crypto advertising in 2018 due to concerns over scams and volatility.

Portfolio Pulse from Murtuza Merchant

January 29, 2024 | 6:58 pm

GLD

IRBT

LCID

SOFI

TLT

TSLA

US stocks saw modest gains on Monday, with the S&P 500 and Nasdaq 100 up slightly, while the Dow Jones was steady. Tesla rebounded 2.4%, SoFi surged over 17% on strong Q4 results, and Lucid jumped 20% on James Bond film rumors. Treasury yields dipped, boosting TLT. Gold prices rose, benefiting GLD, while crude oil prices fell. Major earnings reports and the Federal Reserve meeting are anticipated this week.

Portfolio Pulse from Piero Cingari

January 29, 2024 | 6:57 pm